[Rhodes22-list] Rep. Henry Waxman, D-Calif/Let the games begin.

[Brad Haslett]

Robert,

Remember the S & L debacle?  "It's deja vu all over again!"  The end of the
real estate bubble will be ugly for both financial institutions and home
owners.  My 15yr, 5.12% fixed loan is looking real good, thank-you.

I haven't heard BOHICA since the dying days of Eastern Airlines.

Brad


On 11/12/06, Robert Skinner <robert at squirrelhaven.com> wrote:
>
> Having worked for a bank, I can back what Hank says.
>
> Many banks are now severely overextended on loans.
> Harvard MBA types have been prodding for short-term
> profits at the expense of long-term stability.
>
> When the pre-election go-go machine winds down, I
> fear that it may go below stall speed, and confront
> us with a damned-if-we-do-damned-if-we-don't
> decision on bank bailouts.
>
> BOHICA
> /Robert
>
> Hank wrote:
> >
> > One of the reasons I say it is the fault of the banks is that I think
> there
> > may be a problem coming up soon where many will default on loans due to
> > these balloon payments.  Then the banks have made bad decisions on
> lending
> > the money.  I also believe the banks are partially at fault as they tend
> to
> > gloss over the negatives of the programs in order to get the
> business.  I
> > know, buyer beware, but I believe the banks have an ethical and moral
> > obligation here that they don't always live up to.
> >
> > Hank
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