Mortgage Delinquencies Jump 50 Percent

[HereinDenver]

Originally Posted by padcrasher

You need to educate yourself on the mortgage crisis. Subprime loans were the tip of the iceberg. [To exaggerate their significance]

Why don't you educate me.

[malamute]

Originally Posted by jojajn

Wells Fargo gave subprime loans to people who would have qualified for a fixed loan. They confused the buyer with fine print, legal, terms buried in the contract.

The Wells Fargo Watch

That's exactly why there should have been no bailouts.

Lenders like this should be allowed to suffer the consequences of their actions. If someone gave a mortgage to an unemployed drug addict like is claimed in your article, let that lender lose out.

The housing bubble was going to burst, everyone knew that. They were building poorly constructed houses with the cheapest possible illegal labor like madmen, there is a serious glut of housing now. Houses that should never have been built.

There is absolutely no need for taxpayers to now be forced to pay for the shack that was sold to the unemployed drug addict or anyone else who should never have bought a home.

[padcrasher]

Originally Posted by HereinDenver

Why don't you educate me.

I'm tired of educating wingers who don't have a clue about the crisis...

Try researching some objective sources youself including transcripts of testimony of banking experts before Congress.

You wont find a friggin thing in there about minority lending, or subprime loans causing the crises.

[HereinDenver]

Originally Posted by padcrasher

I'm tired of educating wingers who don't have a clue about the crisis...

Try researching some objective sources youself including transcripts of testimony of banking experts before Congress.

You wont find a friggin thing in there about minority lending, or subprime loans causing the crises.

First off, I'm not a 'winger'. I just say what I feel, right or left.

Second. I do know that there is more to the crisis than just subprime. It's just an easy example. I just want to know what you know.

[evilnewbie]

HereinDenver, I wouldn't bother asking... if you read his/her previous posts.. there isn't much there...