Isn't Hillary basing the subprime blame on borrowers and lenders when technology is really at fault?
Answers: Is this Skahh ? lol
Buy IRBT !?! lol
How is that?
The borrowers borrowed more money then they could afford to pay.
The lenders KNEW they would not be able to pay. (unless they lied and many borrowers lied about income)
NO its to blame on investors who bought subprime paper and created more demand for it stupidly. If your bank loaned your watchman a crores payable in three years to buy a house, would you guarantee it? thats kinda synonomous to buying a subprime debt.
Now if your banker was really senior and your father or mother whom you idolise used to idolise this banker because he made a lot of money in the past for them and mummy and daddy just gave you that look when he told you to guarantee the loan would you gurantee it?
Here's the icing on the cake... What if he ALSO showed you a similar loan given a year ago for a house whose market value doubled in a YEAR (so as to say that if watchman uncle defaulted then they could sell the house - which has its own complications and costs - and recover the loan amount) and offered you 6 % on the loan amount for just guaranteeing it? what would YOU do?
thats essentially what happenend - HUBRIS!! the big shots in the banking world got the base credit wrong. you cant lend to a watch man and expect him to become a billionaire overnite! his salary is never gonna be enuf to make interest if rates rise leave alone principle.
No .. Borrowers are mostly to blame.
Taking on huge chunks of Credit when you know you can't afford it. Option Arm Loans were ment for responsible borrowers. Investors who hedge against a rising market.
You can blame the MTG. Brokers & the Lenders.
At the end of the day you are all the decisions you have made. They had to sign a lot of paper work when they sign a mortgage agreement. Borrwers knew what they were getting themselves into. Some how some people in this day and age just think they deserve things they can't afford. Its a virus that is ruining our country.
Jack
http://www.LenderLister.com
Why did VMware circuits not hit the lower circuit today.?
The trading should have stopped once it hit the lower circuit.Where do i capture the info for the lower and upper limits for the stcoks traded surrounded by nyse and othersAnswers: Wasn't all surrounded by one drop...more than half the drop be in aftermarket closing night...today lately dragged it out more.
JnJ do you like this stock?
Answers: Yes, of course.. Fundamentally the stock is perfect, the fact that Warren Buffet bought it for these prices is really great..
I believe JNJ is the best stock to weather the storm when the market take a down turn. In fact if recession sets in, JNJ will outperform compare to other cyclical stocks.
The reason is because the other cyclical stocks may not be attractive in return wise. The fund managers may have to look for stable stocks like JNJ, KO, PEP, KMB and WMT to 'park' their investment. This in turn will raise the stock price due to more demand than the supply.