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Federal Investigators Launch Subprime Probe (http://www.foxbusiness.com/markets/industries/government/article/federal-investigators-launch-subprime-probe_456368_18.html - broken link)
Thats nice ,when wall street investors get screwed things happen, hope this trickles down to the people that got screwed buying houses that were not worth what they were paying for them.
foreclosures brought down most of the home values in the US.
Nobody could've predicted it....the only ones responsible are those who signed those loan documents.
Quote:
Originally Posted by GENO-777
Thats nice ,when wall street investors get screwed things happen, hope this trickles down to the people that got screwed buying houses that were not worth what they were paying for them.
foreclosures brought down most of the home values in the US.
Nobody could've predicted it....the only ones responsible are those who signed those loan documents.
I don't know about that, if I was poor and some one offered me a mortgage to by a house and made up fake income and the like I would sign too, what the hell, i got nothing to loose, you can't get blood from a rock!! but now that the FBI are investigating we will see who's fault it was.
This probe is just for "show". It was the "relaxing" of lending laws (encouraged by the government) that started this whole mess to begin with. Anyway, most of the subprime lenders are out of business.
This probe is just for "show". It was the "relaxing" of lending laws (encouraged by the government) that started this whole mess to begin with. Anyway, most of the subprime lenders are out of business.
Are you saying that the FBI is going to spend more tax dollars to make belive they are checking this out? if so then this country is in deep dodo. and we need to take our country back,
foreclosures brought down most of the home values in the US.
Nobody could've predicted it....the only ones responsible are those who signed those loan documents.
My thought is that the values were overstated, due to artificially low interest rates, and that the foreclosures did not bring down the values of the homes, but moving them more in line with reality.
It's the same bubble as always and people went along as long as they were profiting by huge increases in value.People playing dumb only works in interviews;seldom in a court especially a criminal court.
My thought is that the values were overstated, due to artificially low interest rates, and that the foreclosures did not bring down the values of the homes, but moving them more in line with reality.
I agree. A three dollar loaf of bread was being sold for 10 bucks because of some ridiculous unethical financing, industry cheerleading and uncivilized social pressure. Heck. I left the country so I would not have to hear it anymore. Moreover, I was not interested in living next door to people so silly as to not see this bubble.
The funny thing is that some think that immediately after the foreclosures slow down that they can start getting 10 bucks a loaf again. It should fall back to 3 bucks and then start to rise from there.
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and we need to take our country back,
