Quote:
Originally Posted by aklim
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.
|
I meant full disclosure to the investors. Basically the whole fiasco comes down to those so-called credit default swaps which are a form of unregulated insurance with no backing that was used to lure in the investors.
__________________
2004 VW Jetta TDI (manual)
Past MB's: '96 E300D, '83 240D, '82 300D, '87 300D, '87 420SEL
|