Quote:
Originally Posted by diametricalbenz
I am going to go out and buy the biggest house I can find with a bank that is about to go down the tubes so I don't have to pay for it. 
If only that were true.  |
Some did exactly that - then the cr@p hit-the-fan for them. They were ALL on the hook for it, not the bank. Too much credit exercised==disaster when your income ceases. What's funny (as in ironic,) is that the cycle of bubbles bursting always repeats itself.
The FDIC could fail. You bet your life it could.