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View Diary: Our Economy: MASSIVE FRAUD By Mortgage Industry. (269 comments)

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  •  And together, such anecdotes make up (0+ / 0-)

    what this mess is all about. More importantly, however, they also nicely point out what it's not about.

    It's not all about stupid average homebuyers. The vast fucking majority of it was outright fraud on the part of lenders.

    What is with some of you today? I've about had it with the semi-obtuse shilling "devil's advocate" posting on this subject, seemingly (and/or repeatedly) trying to spin these discussions around to "but, but, it's the homeowner's fault too!" Why don't you want to talk about the biggest part of the problem?

    What's that, you say? If we do that, people will stay pissed, the banks will be ultimately be held accountable (or nationalized), and your lucrative lobbying gigs will start drying up? Oh, oops...

    I'm not an anarchist, but it would be good if people started realizing the difference between political propaganda and the truth. --John Lennon

    by o the umanity on Wed Feb 25, 2009 at 11:42:03 PM PST

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    •  Root of the problem was borrower greed (0+ / 0-)

      Keeping up the Jones.  Buying more house than the borrower could afford.  That is the root of the problem.  No one forced borrowers to take mortgages that they couldnt afford.  

      •  I didn't take a mortgage I couldn't afford. (1+ / 0-)
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        o the umanity

        You are a troll for the finance industry...but that's okay. I made 50,000.00$ I bought an 124,500 loan on a 130,000$ house. They jacked me with fees to the order of 28,000 at one point.

        You just don't want to hear the truth.

        The greatest gift you can contribute to the goal of world peace is to heal.

        by wavpeac on Thu Feb 26, 2009 at 06:20:05 AM PST

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      •  BS (0+ / 0-)

        The root of the problem was GREED, but the bulk of it was not caused by Joe Middle-Class.

        You can shriek that it was from every rooftop from here to K Street, but that's not going to change the fact that you're lying misleading shilling frantically trying to save your own ass wrong.

        I'm not an anarchist, but it would be good if people started realizing the difference between political propaganda and the truth. --John Lennon

        by o the umanity on Thu Feb 26, 2009 at 07:44:47 AM PST

        [ Parent ]

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