Americans not paying their mortgages caused the blow up.
What of lenders who wrote loans which they could not reasonably have expected the borrowers to repay, and then repackaged such loans to hide their toxic nature?
posted on 04/28/2010 3:17:35 PM PDT
(Barry Soetoro == Bravo Sierra)
They simply expected the collateral to be worth as much as the loan. Then politicians imposed forclosure mortoriums and coercive cramdowns and all the rest of it, stealing the collateral.
Go on defending the mainstreet deadbeats. Populists wouldn't know capitalism if it bit them - oh right, it did, and they hated it and whined and called for the government to come beat up their creditors for them.
Deadbeats and whiners make me sick...
posted on 04/28/2010 7:43:40 PM PDT
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