2007-03-19 23:11:02.278515+01 by Dan Lyke 3 comments
Interesting essay and long set of comments on the situation in mortgage markets. One way or the other it looks like the real estate industry is going to get a bail-out and the people who behaved responsibly are going to end up screwed with the bill.
[ related topics: Economics Real Estate ]
comments in ascending chronological order (reverse):
#Comment Re: made: 2007-03-20 00:56:19.478177+01 by: DaveP
I especially like the way he blames capitalism. As if lenders are going to make bad loans without knowing that they're going to get bailed out instead of getting stuck with a bunch of houses they don't really want when the borrowers default.
#Comment Re: made: 2007-03-20 01:02:36.47694+01 by: Dan Lyke
Yeah. That's one of the reasons I like the comments on that entry as much as I like the original, because there's lots of theorizing to go around.
Although for the most part, as a fallback plan to a government bail-out I'm pretty sure the lenders are glad to suck down a large salary and leave the actual investors in the lurch when the lending companies go under.
#Comment Re: made: 2007-03-20 10:42:13.495983+01 by: DaveP
Well, yeah. They're not going to take responsibility for writing bad loans. Would be un-American.
We will not edit your comments. However, we may delete your comments, or cause them to be hidden behind another link, if we feel they detract from the conversation. Commercial plugs are fine, if they are relevant to the conversation, and if you don't try to pretend to be a consumer. Annoying endorsements will be deleted if you're lucky, if you're not a whole bunch of people smarter and more articulate than you will ridicule you, and we will leave such ridicule in place.
Flutterby™ is a trademark claimed by
Dan Lyke for the web publications at www.flutterby.com and www.flutterby.net.