Comments on: S and L Crisis vs. Mortgage Meltdown http://austintexashomes.wordpress.com/2008/04/13/s-l-crisis-vs-mortgage-meltdown-what-happened/ Real estate, green building & enjoying life in Austin, Texas. Wed, 23 Sep 2009 14:38:59 +0000 http://wordpress.com/ hourly 1 By: austintexashomes http://austintexashomes.wordpress.com/2008/04/13/s-l-crisis-vs-mortgage-meltdown-what-happened/#comment-19 austintexashomes Sun, 14 Sep 2008 16:40:57 +0000 http://austintexashomes.wordpress.com/?p=30#comment-19 I just heard Greenspan this morning on a news show. He said we are going through a financial crisis that is a “once in a century crisis.” It is hard to believe it that liberal lending practices could lead to this. I think a lot of people are going to have to absorb the re-setting of values before it is over. I just heard Greenspan this morning on a news show. He said we are going through a financial crisis that is a “once in a century crisis.” It is hard to believe it that liberal lending practices could lead to this. I think a lot of people are going to have to absorb the re-setting of values before it is over.

]]> By: chockblock http://austintexashomes.wordpress.com/2008/04/13/s-l-crisis-vs-mortgage-meltdown-what-happened/#comment-18 chockblock Sat, 13 Sep 2008 23:49:16 +0000 http://austintexashomes.wordpress.com/?p=30#comment-18 It is a dirty yet open secret in the banking and credit industry, they make money (or think they do) when we default. They "sell" the debit to collectors who harass us, offer us more ways of getting "easy money" so we can go into debt so they can sell it. NINJA loans should never have existed, the mortgage crisis is a result of carelessness and immaturity. Like teenagers who crackup the family car, the banks expect the Treasury (and the taxpayers) to bail them out. It is a dirty yet open secret in the banking and credit industry, they make money (or think they do) when we default. They “sell” the debit to collectors who harass us, offer us more ways of getting “easy money” so we can go into debt so they can sell it.

NINJA loans should never have existed, the mortgage crisis is a result of carelessness and immaturity. Like teenagers who crackup the family car, the banks expect the Treasury (and the taxpayers) to bail them out.

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