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Originally Posted by SCUDSBROTHER
I am not against people getting loans, but they want to have the same scum (that made these bad loans) be the ones in charge of the loaning. That is an example of repeating the same mistake(which is the definition of the word "stupid.")
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Actually the major banks that are still standing survived because THEY DIDNT do the crazy lending for the most part.
Bank of America, Chase, Wells and Citi DID NOT offer neg am loans which were the worst. Wells dipped their feet into some subprime but not to the level of the investment banks that are tumbling left are right.
Of those banks named, the only real exposure they have left is to high LTV mezz financing and some ALT A.
In plain English, these banks didnt do they bad lending for the most part.