1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Who's Behind the Financial Meltdown articles

Discussion in 'General Real Estate and Real Estate Finance' started by Michael Tipton, May 8, 2009.

Thread Status:
Not open for further replies.
  1. Michael Tipton

    Michael Tipton Senior Member

    0
    Sep 25, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    The top subprime lenders whose loans are largely blamed for triggering the global economic meltdown were owned or backed by giant banks now collecting billions of dollars in bailout money, according to Who’s Behind the Financial Meltdown?, a new investigation by the Center for Public Integrity.

    “The mega-banks that funded the subprime industry were not victims of an unforeseen financial collapse, as they have sometimes portrayed themselves,” said Center Executive Director Bill Buzenberg. “These banks were deliberate enablers that bankrolled the type of lending that’s now threatening the financial system.”

    http://www.publicintegrity.org/news/entry/1352/
     
  2. rcsone

    rcsone Senior Member

    0
    May 26, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Oklahoma
    .....I was taught the only thing you needed to know about economics is, "...the biggest prince is the biggest thief...". Does same apply with these lenders of "repute"?.............I still maintain this whole mess was created in order for the US not to default on Treasuries bought in exchange for energy and other imports. We created a series of MBS's, DIR, and such POOP to worldwide invest/sell. These instruments allowed us to trade goods for the current worthless in degree invented paper. And the end results will be the Princes of Banking will own the mortgage paper that is worth lots more than currently portrayed with the "foreigners" having nothing.
    ......such is such . . . . . and best to all..........rs
     
  3. Michael Tipton

    Michael Tipton Senior Member

    0
    Sep 25, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    If I was a small local bank or a regional bank I would have issues with the bailout of the mega banks. The regulators and the government allowed this to occur and are now providing financial support for the institutions and their management to compete.
     
  4. Workbox

    Workbox Elite Member

    2
    Mar 2, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    To bad most folks will not understand what you are talking about, but some do. :beer:
     
Thread Status:
Not open for further replies.

Share This Page