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Posted by: Lurch 1 year ago
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Lurch1 year ago
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Which would liquidate the banks themselves. Hence the ridiculous bailout.
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Just like homeowners have been held responsible for their actions via foreclosure, bankrupcties, loss of savings, loss of credit, and so forth, the lenders, brokers, underwriters, execs who had just as much or more responsibility in this fiasco should be held to a higher standard of accountability than the foreclosed upon people.
For every homeowner who signed a mortgage he/she could not in the end afford, there was a broker, an underwriter, a branch manager, a corp exec, and so forth who also signed off on that mortgage. In hundreds of thousands of cases they did so unethically/fraudulently, by lying to the customer or each other, or by changing the deal at the last. I still have my house, but my Countrywide broker told me less than 24 hours before closing that my great deal had been rejected. I would up paying much more with a much higher rate and due to the subprime scandal my home value is decreasing and I am still unable to refinance.
The govt has every responsibility to ensure that these crooks pay for their fraud, their crimes, and their lies.
You sir, seem to be advocating the rape victims pay for their rape kits and the rape trials.
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