tag:blogger.com,1999:blog-3294580951502585066.post4791535697073285604..comments2023-10-18T19:32:44.252-07:00Comments on It's just my opinion, I could be wrong: This recession compared to 1930'sNickhttp://www.blogger.com/profile/05587036619182019599noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3294580951502585066.post-66235209815654809712009-07-08T18:24:20.650-07:002009-07-08T18:24:20.650-07:00Nick,
You are so right on! A point I've want...Nick,<br /><br />You are so right on! A point I've wanted to make, but just never came up with a post is this. Back when the house of cards were falling, these large banks probably had the earnings to sustain the massive losses that they deserved to lose for their mortgage investments. <br /><br />When I worked in the mortgage industry, I can attest that the mindset was to attain as many mortgages as possible. No consideration to risk on the porfolios of loans they were purchasing.<br /><br />When the bottom feel out, instead of risking their precious earnings they went to the real crooks...aka...the government to get a bailout, to protect their bad investments. What they didn't bargain on was a President that was going to use the favor like a mob boss. <br /><br />Wish we had a Hoover in office back in 2008 instead of Bush.conservative generationhttps://www.blogger.com/profile/10614578478747561732noreply@blogger.com