I personally think that the people who should really pay for this stuff include those community activists, government bureaucrats, and politicians who pressured and forced financial institutions to offer mortgages to people who simply did not qualify, all due to the apparent and misguided belief that everybody was entitled to a home. If this hadn’t happened, the institutions could sell mortgage-backed securities until the cows came home, with less risk of going belly-up.
This is much bigger than just the mortgage mess.
Search for: AIG’s Dangerous Collapse & A Credit Derivatives Risk Primer Financial Sense Online ^ | September 17, 2008 | Daniel R. Amerman.
Palmer posted it on 18 Sept.