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View Diary: Plan to Buy Banks' Bad Loans Founders (28 comments)

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  •  It was a mistake from the start (2+ / 0-)
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    mataliandy, yoduuuh do or do not

    The whole loan business was increasingly being driven by companies that literally went out looking for people who would default on these loans and basically gave them loans at vastly inflated interest rates.. They knew perfectly well that the loans would not get repaid..

    Want an eye opener?

    Listen to (or read the transcript of)

    The Giant Pool of Money on This American Life


    The Media Equation
    Daring to Say Loans Made No Sense

    (story about the show, which has been downloaded over a million times- its really a remarkable document)

    The insurance industry WANTS public option (Shhh!) BECAUSE it will fail by costs+sicker risk pool-Single payer WORKS-Public option is NOT 'like single payer'

    by Andiamo on Tue Jun 02, 2009 at 07:57:20 PM PDT

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