Quote:
Originally Posted by DieselAddict
IMO there's nothing wrong with subprime lending if it's done right with full disclosure, i.e. don't hide the risk in fancy financial instruments that no one fully understands. That part should have been more regulated.
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What other disclosure is there? It is all in the paperwork. Do you think the borrowers could care less? Hey! Everybody is making money flipping this house. Lets go do it ourselves. What else do you expect the lender to do? Tell the borrower he is in dangerous waters? Why should he care? It is not his responsibility, is it? After all, any loan is a good loan since it can be packaged up and moved on. No skin off my company.