"Nancy Young" > wrote in message
. ..
> Kswck wrote:
>
>> Read the fine print-does Balloon Mortgage mean anything to you idiots?
>> So someone spending more money on a home than they can afford-can't
>> be their fault-it's Bush's fault.
>
> There is plenty of blame to go around, from the majority of the
> buyers to the lenders who knew they'd just bundle the paper and
> sell it up the line, what did they care if people defaulted?
> The whole mess reeks. Some people got rich.
>
> nancy

A lot of people got RICH very RICH! the loan initiation fees and
commissions were simply outrageous - "Sure we'll refi your property it will
only be another 50 k in loan fees - what do you care the appreciation of
your property will cover that and more! What the hell - you're going to
move in a few years anyway." think of all the profit you're going to make.
After all property always appreciates.

Great job school, system! I wonder how many were/are university grads?


--
Old Scoundrel

(AKA Dimitri)