...while we're at it, blaming everything on Franklin Raines, let's remember what they do; get more homes loans out there.

Who does that benefit?

Homeowners.
Builders.
Developers.
Real Estate agents.
Bankers
Loan officers
Tradesmen
Local community from food service to big boxes to gas stations and so forth
Everyone involved with anything to do with a new house from lumber to landscaping to pipes, furniture, fixtures, lights, home products, roofers, pavers and the people who dig the whole and build the sewers.

Just some perspective of the amount of shear political force behind housing.

This is why political leadership is so profoundly important; someone has to mind the bigger picture.

...while we're at it, blaming everything on Franklin Raines, let's remember what they do; get more homes loans out there.

Who does that benefit?

Homeowners.
Builders.
Developers.
Real Estate agents.
Bankers
Loan officers
Tradesmen
Local community from food service to big boxes to gas stations and so forth
Everyone involved with anything to do with a new house from lumber to landscaping to pipes, furniture, fixtures, lights, home products, roofers, pavers and the people who dig the whole and build the sewers.

Just some perspective of the amount of shear political force behind housing.

This is why political leadership is so profoundly important; someone has to mind the bigger picture.

All of that is true. However, the people to whom many (high numbers) of these loans were made were not fiscally sound, nor fiscally responsible. That has to change. We need tighter regulations and oversight.

And the wolves minding the henhouse need to be drawn & quartered or at least kicked out of town.

All of that is true. However, the people to whom many (high numbers) of these loans were made were not fiscally sound, nor fiscally responsible. That has to change. We need tighter regulations and oversight.

And the wolves minding the henhouse need to be drawn & quartered or at least kicked out of town.

...give a crap if someone is fiscally sound or not; if someone loans them money then let THEM deal with it if/when there is a problem.

This was all a shell game, the bundling of mortgages where the goal was more mortgages and pass the buck. THAT is where the problem lay; the people who got the money got rid of the risk.

...give a crap if someone is fiscally sound or not; if someone loans them money then let THEM deal with it if/when there is a problem.

This was all a shell game, the bundling of mortgages where the goal was more mortgages and pass the buck. THAT is where the problem lay; the people who got the money got rid of the risk.

I know that. I'm not sticking up for the people who were not fiscally sounr or responsible. But in the end - the damn Congress wants to bail them all out, and I don't want that to happen. I think there should be tighter regulations against lending money to these type of people, is all I mean. Going back to how it used to be.

For that matter - there's also a huge fallout in the scandal of lending mortgage money to illegal alien types who are now defaulting on those loans.

I know that. I'm not sticking up for the people who were not fiscally sounr or responsible. But in the end - the damn Congress wants to bail them all out, and I don't want that to happen. I think there should be tighter regulations against lending money to these type of people, is all I mean. Going back to how it used to be.

For that matter - there's also a huge fallout in the scandal of lending mortgage money to illegal alien types who are now defaulting on those loans.

...going after you, I'm emphasizing that people taking out mortgages is NOT the problem. They were making a reasonable choice after seeing everyone in the world buy a house and sell it for $50,000 more a year later. EVERYONE was doing well, not just one out of a 1,000 winning at blackjack.

The people MAKING the loans and getting rid of them ain't the problem either. They KNEW they'd unload them ASAP. If they committed fraud, then that's what the law is for. If they followed the law then the people who bought the bundled mortgages and the people who insured them, caveat emptor, bear ultimate responsibility.

And their motivation, again, was stock price and growth, NOT profit and loss and good business practice. We need to change the tax laws to get companies away from motivating execs to bloat stock prices and concentrate on profit and loss and good business practice.