Thursday, October 13, 2011

Sub-prime Mortgages


Sub-prime mortgages:
Do you think banks created them to take advantage of new owners in order to bundle and leverage the debt obligations at ratios of 33:1, as well as, reap massive profits in the home building industry bubble?
Do you think risky, jobless, asset-less new owners forced the mighty banks into creating sub-prime mortgages, and additionally, force the banks to loan the money to the developers to build all the homes, and the trillions in leveraged securitized mortgages was just a wee coincidence? Seriously.

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