[FoRK] The Bailout: The Myth, The Legend, The Best Seller (Mark Cuban gets it right)

Lucas Gonze lucas.gonze at gmail.com
Fri Sep 26 16:49:46 PDT 2008


It really gets my goat to see loan officers blamed for the problems of
people taking out loans they couldn't afford.  Those borrowers screwed
up the housing market for everybody who knew better.  To hell with
them.

BTW, I'm shopping for real estate now.  I've been renting since I
moved to CA because I felt like prices were out of sync with salaries,
and now I'm going in for the buy.  I'm starting with learning about
foreclosures.  Anybody else looking at foreclosures?  Have any advice?

On Fri, Sep 26, 2008 at 3:30 PM, Luis Villa <luis at tieguy.org> wrote:
> Oh, they are partially responsible. But (1) they aren't getting bailed
> out (2) there are tens (hundreds?) of millions- including me- who
> didn't participate  and (3) they would not have been offered those
> loans if the irresponsible financial instruments had not made offering
> them so 'profitable'.
>
>
>
> On 9/26/08, Lucas Gonze <lucas.gonze at gmail.com> wrote:
>> On Fri, Sep 26, 2008 at 2:41 PM, Luis Villa <luis at tieguy.org> wrote:
>>> already made a gigantic pile of money the past seven years. Their
>>> penalty for being the only people on earth too stupid (or too blinded)
>>> to realize that housing prices can decline?
>>
>> How come people who bought at bubble prices aren't responsible for
>> their decision?  This situation brings out the hard hearted capitalist
>> in me.
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