You are right to the point that Flippers were a part of the subprime failures, but I still don’t think that it was the main reason. Several links such as Wiki show that a lot went into the problems of subprime failures and the majority of foreclosures are of homeowners with subprime loans.
The reasons proposed for this crisis are variedand complex. The crisis can be attributed to a number of factors pervasive in both housing and credit markets, factors which emerged over a number of years. Causes proposed include the inability of homeowners to make their mortgage payments, poor judgment by borrowers and/or lenders, speculation and overbuilding during the boom period, risky mortgage products, high personal and corporate debt levels, financial products that distributed and perhaps concealed the risk of mortgage default, monetary policy, international trade imbalances, and government regulation (or the lack thereof).
I apologize to you and for my false statements.
Flame » in reply to Okay, put up or shut up
re: Okay
The whole thread (46 posts)
- Leftist feeding frenzy
- Methods of setting CEO pay have failed
- "There’s deeply rooted anger on the part of the average American,"
- Did you ever consider
- Looks to me as if the feeding frenzy happened, and did in the economy.
- Gosh, I guess I'll have to start cheating on my taxes again and backdating my stock option exercise dates!
- Hello? It ain't the CEOs cheating on their taxes.
- CEO pay soared during the Bush years, at twice at the rate of average salary increases
- "Good Lord, is anything that's going on sinking in here at all?"
- Sinking in your own hole
- there is about one sentence in that whole screed that is true
- There is no doubt in your mind you believe that.
- re: There is no doubt in your mind you believe that.
- Bowser, it's word for word out of the mouths
- Sinking in your own hole
- Hello? It ain't the CEOs cheating on their taxes.