Quote:
Originally Posted by questor
In addition, regulatory changes and the ongoing growth of the secondary mortgage market increased the ability of lenders, who once typically held mortgages on their books until the loans were repaid, to sell many mortgages to various intermediaries, or "securitizers." The securitizers in turn pooled large numbers of mortgages and sold the rights to the resulting cash flows to investors, often as components of structured securities.
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Thanks for the more technical description of that vague "creative financial... investments in other investments... leveraged more than 20 or 30 times on the... sub-prime mortgages...." that I came up with (post #39).
"So we have disturbed the market's equilibrium by a well-meaning liberal attempt to help the underprivileged and now the market demands payment." -Questor
Are you assigning blame to the decades old practice of helping the poor, and not to the recent Phil Graham sponsored deregulation of those old practices?
Schumer?
...and more blame. Do you really see one person 'telling the truth' as more pertinant than a Federal agency not doing its job?
...if he'd only kept his mouth shut; kept the shell game going.... What an idiot he was!
Thanks for setting me straight.
~
p.s. Acorn? OMG, another liberal conspiracy?
Just days ago they came into the public's consciousness. Now conservatives are talking about them everywhere. I just heard a caller on CSPAN blaming the nuts, Acorn....
