2 ms·
It sounds like the actual most dangerous problem was people financing homes on unsustainable lending terms, literally requiring the home value to go up so you c
by mrgriscom 10y ago
It sounds like the actual most dangerous problem was people financing homes on unsustainable lending terms, literally requiring the home value to go up so you could refinance before your ARM teaser rate expired.
- slg 10y agoFault for that goes both ways, towards to people who took the loan and the people who gave the loan. The people who gave the loan knew a lot more about the specific details and risks, so I find it hard to blame the people who took the loan.
- mjevans 10y agoThat is exactly why /those/ institutions should have 'defaulted' and gone in to orderly holding/liquidation. They are the experts that performed malpractice on society at large.