[TigerLikesRooster]

Ping!

[TheThinker]

The $100,000-plus party celebrated the booming division that made loans largely to Hispanic immigrants with little savings

Two questions: One, were these illegal immigrants? And two, are we really to assume these lending companies just lost their minds and lent to anyone with a heartbeat?

[djf]

There is a phrase that has become popular in the last 15 years or so. A phrase that describes something that was conspicuously and some might even say criminally absent from these board rooms when the buying and selling mania was going on.

Due Diligence.

Let them take their lumps. They sure didn’t seem too put out when they were yucking it up over their $300,000 dollar bonuses, did they? And when tens of thousands of folks ended up losing their homes, why should it be that the banks are able to make it out like they’re the ones who are the victims?

[Freedom_Is_Not_Free]

Compelling reading, though difficult. Difficult because I know how it ends. Or rather, how the bubble ends so abruptly and how housing sales and prices plunge so quickly. I don’t know how the whole episode ends, whether peacefully or weimar or depression. Nobody knows that answer right now.

Good article so far. I’m looking forward to the rest of it. It doesn’t state much I didn’t already know but we’ll see how the next installments go...

Thanks for posting.

[DainBramage]

Im a fireman in a fairly large Texas city. We go into peoples homes all over town. I'll never forget when we started going into 250,000 dollar houses belonging to mexicans that didnt speak english.

We would think out loud "how in the hell did they get a loan for that house? They are illegal and barely have any furniture?"

[oldbill]

I told everybody here more than a year ago that the subprime problem was an illegal alien problem, but all these experts insisted otherwise (http://www.freerepublic.com/focus/f-news/1805625/posts).

Told ya so!