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?
Don't fall for this BS.The rate of foreclosures on residences owned by folks with good credit is very low. The foreclosures are on investment properties (Flip This House), illegal aliens and people with bad credit who wouldn't have qualified for a mortgage 10 yrs ago.