rip fannie and freddie

[philcski]

Originally Posted by pgardn

I will interject.
I can't help it.

imo they(Mortage companies) were pulling people off the street and giving them mortages that looked very attractive to 2ndary and on investors who did not do their homework (the majority of the people would not be able to pay these rising rate pile o crap loans). Basically a pyramid scheme destined to fail. And now we see who ends up holding the cleaning products that wont sell. Stupidity and greed are fantastic partners for the get rich quick.

A little simpler than I would have written, but pretty much correct.