An Investment Banker Explains the Subprime Debacle

Understanding the Subprime Catastrophe

I will broach no more insult to Wall Street for its handling of the sub-prime crisis.  They have, with much aplomb, steadfastly applied the best and brightest to controlling and handling the entire sub-prime catastrophe.  The fact of the matter is that millions of Americans were at fault.  They sneakily signed mortgages for immense houses, at ridiculous interest rates, all the while being completely destitute and unemployed to boot.  I say we put all of those fraudulent buyers behind bars.  They are, without a doubt, the most base of humanity.  They dare ask for a handout after signing these ARM loans that they connived their way into.  If it were not for Hank Paulson and Tim Geithner, shelling out untold trillions for huge banks, to halt their failure, since they are obviously too big to fail, we would be in a complete recession of the economy.  Finally, these charlatans, offered to pay 30% or even more for the same house that only just sold, on the market, not months before.  It is these folks that we all owe the loss of our 401k investment crashes to.  How many lost money on the stock market, in their retirement funds, when the stock market is supposed to only go up.  These idiot borrowers are the cause of all of this mayhem.  They then complained to the government that they over-payed for their houses.  And, that they were upside down in their houses.  It is their own fault for forcing good honest realtors and home inspectors to have to raise the home price at their request.

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shakaama

Ex law school student. I was kicked out for revealing I had a heart actually beating inside. I used to be in a modern dance company. I'm working on my 7 miracles to be proclaimed a saint by the pope. #1 is really hard, but once i get over that hump the other 6 will be a cinch.

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