[moneyrunner]

Today, the people who advocated lax lending standards are self-righteously critical of lenders for letting this debacle happen. Having forced millions of bad loans, they are now complaining the government is paying a small portion of the losses back to Bear Stearns. Having enacted regulations that ruined the U.S. financial markets, they now claim the credit problems stem from a lack of regulation.

[org.whodat]

Having enacted regulations that ruined the U.S. financial markets, they now claim the credit problems stem from a lack of regulation.

The lenders, broker, mortgage lenders and mortgages bankers, real estate appraisers, real estate agents/brokers, and builder/developer's. Were all just little innocents lead to slaughter. What bunk.!

[kindred]

[has cost the world 15% of its market capitalization, about $9 trillion. The primary culprit who caused all of this financial loss, pain and suffering is not the mortgage companies. Neither is it the overextended borrowers. It is our own federal regulations interfering with the free market. ... The unintended consequences of good intentions can do more economic harm than all the mean-spirited greed within capitalism]

When you think on the people who run Congress and pass legislation and the type of leaders they have, you can see why true conservatives hate the hate filled left wing communists monsters who are destroying our once great nation.

[johnny7]

Their Marxist-socialist “fixes”... have also wreaked havoc on our energy industry and health-care system. Everything they touch... turns to sh•t.

[willieroe]

Are you the author of this blog entry?

[Notary Sojac]

Subprime lending to "minorities" is part of the problem, but far from the largest part.

When it all shakes out, the lion's share of bad lending will not come from the po' folks, but from;

(1) middle and upper class homeowners who cashed out hundreds of billions in paper "equity" via refinance/line of credit, and then pi**ed away the proceeds.

(2) builders and investors that built spec homes by the millions which turned out to be unaffordable unless bought on suicide loan terms.

All of this took place under the insane delusion that real estate could only go up....

Google "Gramm-Leach-Bliley Act" to learn about the law that really caused the credit meltdown.