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 ·magicjack.com
| said by footballdude:said by Mr Matt:your neighbors are being evicted from their foreclosed homes because they were tricked into buying a house that they could not afford by the Wall Street Weasels. That's the funniest thing I've read online today. Help me! I got tricked into buying a house! It's not my fault! Technically, the same thing could be said for Bernie Madhoff's victims. They should have known above-market yields don't occur without above-market risks.
The problem during the real-estate bubble was cash poured into mortgage-backed securities for the same reason: above-market yields which looked like AAA-grade due to the trickery of CDOs and CDSs.
With all that cash pouring in, just dying for mortgages to invest in, we ended up with reassurances to home buyers, like "Suzanne researched this... you can do it:"
»www.youtube.com/watch?v=Ubsd-tWYmZw
Sure, home buyers were ultimately responsible for being misled. But, as was the case with Enron, Madhoff, et. al., we tend to take a dim view of those who mislead.
In this case, the financial industry (and investors) were bailed out. I believe it had to be, or it would have taken us all down further than it already has. But, this is another example of why wealth (and income) disparity has widened to levels that make us have more in common with corrupt nations. |
