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Non-Cattle Specific Topics
Coffee Shop
Mortgage Bailout ?
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<blockquote data-quote="Lammie" data-source="post: 564325" data-attributes="member: 3306"><p>Bandit, I didn't mean to imply that all banks were using risky lending practices. I am really talking about the Ditechs and Countrywides of this world. They just encouraged people to go deeper and deeper into dept on houses and refinancing. You are right, too, that people don't really read what they are signing and end up with loans that are going to be hard to repay in rough ecomonic times. It was like no one really wanted to know what they were getting into and it was easy to lead them to financial slaughter. </p><p></p><p>It is hard for me to feel sorry for someone like that. It reminds me of the savings and loan collapse in the eighties.</p></blockquote><p></p>
[QUOTE="Lammie, post: 564325, member: 3306"] Bandit, I didn't mean to imply that all banks were using risky lending practices. I am really talking about the Ditechs and Countrywides of this world. They just encouraged people to go deeper and deeper into dept on houses and refinancing. You are right, too, that people don't really read what they are signing and end up with loans that are going to be hard to repay in rough ecomonic times. It was like no one really wanted to know what they were getting into and it was easy to lead them to financial slaughter. It is hard for me to feel sorry for someone like that. It reminds me of the savings and loan collapse in the eighties. [/QUOTE]
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