[Phantom Lord]

Great article. Read it over and over. Forward it to friends, family, and enemies.

[caltrop]

Whenever I hear someone crowing about "giving back" I can't escape the thought they're the beneficiary of some ill gotten gain and are returning something like .00001% of what they walked off. For their generosity they expect to be treated like God's gift to the human race.

I'll be happy to stand corrected if somebody can point out that his hedge fund was lending at less than prime rates to his sub prime borrowers but I suspect he was realizing a generous rate of return (probably further leveraged) and was being very well compensated as long as the gravy train was rolling.

[2banana]

So right after the Bear Stearns funds blew up, I had a thought: This is what happens when you lend money to poor people.

BS ALERT!!!! It was not the "poor." It was the greedy and people who had no hope to pay these mortgages. There are alot of "rich" people in that category...

[Toddsterpatriot]

Excellent article.

[Dems_R_Losers]

LMAO. Hilarious article and unfortunately true. I think the biggest mistake the mortgage people made was inventing this neutral word “subprime.” We used to call it B-C-D lending, making it clear that these borrowers had bad credit histories that most lenders would not touch with a ten foot pole. Investors found it too easy to ignore that and just reassure themselves that “subprime” was OK.

[NeoCaveman]

Wow, that’s good reading.

[Jeff F]

I think some are missing that this piece is dripping with sarcasm and is largely a satirical work. Lewis makes points on both sides of the argument in the process. To strongly agree or disagree with him is to fall into his trap and become a target of his derision.

[Gritty]