tag:blogger.com,1999:blog-9056069855030393854.post2543448504316563249..comments2008-12-24T10:22:18.645-08:00Christopher Hainhttp://www.blogger.com/profile/09249683196080870495noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9056069855030393854.post-79603269783740409722008-12-24T10:11:00.000-08:002008-12-24T10:11:00.000-08:00I have to agree with most of this...<BR/>"The problem with the real estate bubble was caused because people who should not be buying real estate were able to get loans they never should have gotten.<BR/><BR/><I>The problem came from lenders and Wall Street. Lenders created unconscionable loan products. And Wall Street found new ways to securitize them... <BR/>... Selling crazy loans that borrowers could never really pay back and re-selling them as securities is bad thing... </I><BR/><BR/>A very bad thing. Lending institutions that used a magical black box filled with fuzzy math to justify the loans packaged (both good and bad) as a "secure" asset to be sold and re-sold to the next bigger fool. <BR/><BR/>This package of failed assets ripped off the investors as surely as Madoff and his Ponzi schemeKeith Lhttp://www.blogger.com/profile/01622925700764274953noreply@blogger.com