[muawiyah]

You have to read the entire post, not just the part you want to read. I blamed the Federal Reserve. They managed to step on every uptick in the stock market for two full years. You can go back through any of the indexes and see exactly where the Fed raised rates or did funny adjustments.

They were "fighting inflation" that wasn't happening ~ oil prices were going up ~

Made it look like insiders at the Fed were trying to manipulate the stock market.

At the same time the Fed was creating millions of bad mortgages.

The poor people who quit paying mortgages were VICTIMS.

[bronxboy]

I agree with what you said in this post...the Federal reserve is to blame and poor people were victims...I saw a woman on television who had put down 40,000 dollars on a 120,000 dollar mortgage. Wells Fargo, put her in subprime; she could have gone prime or at least FHA. Her mortgage is one of those crazy ones so now she is paying a huge mortgage payment and in danger of foreclosure. Yes, buyer beware; but mortgages are complicated and the average person falls for these scams all the time

Did you know that Eloan was the first to start putting credit scores online because so many people were being lied to and told they had low score when they didn’t. The Eloan guy thought this was unfair. Wells Fargo should be ashamed. I never liked this company.