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Another aspect of the mortgage crisis. by Peace_man2008-07-29 09:47:29
  The laws changed recently by subbywan2008-07-29 09:51:05
    That makes sense. by Peace_man2008-07-29 09:54:32
      Yes, both should be penalized. by Illiad2008-07-29 10:02:35
        The borrowers are penalized. by Peace_man2008-07-29 10:16:12
          Maybe 60/40? by Illiad2008-07-29 10:21:04
            Well - I could agree to that. by Peace_man 2008-07-29 10:32:04
The borrowers are culpable in that they were trying to leverage sub-prime mortgages into investment in real estate on the assumption that prices would continue to rise. It is NOT a good idea to gamble like that on a necessity like housing.

Of course, they were just trying to follow the example set by the experts guiding investments for corporations. But a little bit of prudence should have been exercised, and the lack of that should be penalized.

I still maintain that penalizing to the point of no return harms everybody - including the lenders.
[ Reply ]
              Not "no return," no. by Illiad2008-07-29 10:48:42
                I will say, though, that I give him props for by merlin2008-07-29 10:52:15
                  A slight adjustment to 3) by Illiad2008-07-29 10:54:49
                    That's one way of reading it. by merlin2008-07-29 10:56:59
                In other words by MatthewDBA2008-07-29 10:52:56
                  In the subtext... by Illiad2008-07-29 10:55:46
                  Or, "Man, I was hoping this would be a sugar daddy by merlin2008-07-29 10:56:16
                I'd forgive him. He doesn't have enough by Peace_man2008-07-29 11:15:22

 

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