Thread: Finding the culprit
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Old 10-10-2008, 01:48 PM
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Default Re: Finding the culprit
Quote:
Originally Posted by saltwn View Post
The deregulation of the banking industry allowing them to merge with insurance and investment companies has a direct correlation to what we are seeing happen right in front of our eyes.
Well darn I thought it was all the "worthless paper" that eventually permeated the entire market place that caused the problem. Funny, credit unions and most "regular banks" are just not participating in this debacle.
ALL experts agree that the root problem was government interfering and FORCING lending institutions to lend to bad risks and then Mac & mae buying up 70% of the worthless mortgages(under a presumptive government guarantee) bundling them and SELLING them to all of the institutions that are now failing due to worthless paper.
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