ironjohnlad (November 30, 1999 at 12:00 am)

This is bloody brilliant ! And so true as well ! Gread, crulity, and cons, and the illusion of ever higher house prices ! And all these bad debts packaged into investment bonds' and sold world wide to Banks, who did not read the small print, who sold them on who sold them on etc, making huge bonuses ! And we the tax payers have to bail out the banks, and then pay themselves in bigger bonuses at our expense ! John T

ALR6002 (November 30, 1999 at 12:00 am)

???

notu286 (November 30, 1999 at 12:00 am)

This kid Cyrus needs our help to keep Wells Fargo from Shutting down his web site.

flyingdutchmanhero (November 30, 1999 at 12:00 am)

i don´t get it! why don´t the american citizens start a revolution against their sensless moneysystem??? do you like to get VERARSCHT(german for shitted said: fur-r-sht) by your government?????? do you just have criminals in your politics???? see now you pay the price for the dumbness of your leaders!!!! i hope you learned something for the future guys... there is a easy solution: very simple: JUST SPEND THE MONEY YOU HAVE AND NO MORE! like we in europe do and....it works believe me!

WesleyHightower (November 30, 1999 at 12:00 am)

Do you think that was thier goal? I could give you some insight from an insiders perspective but it sounds like you are already too brainwashed by the left-wing 'lets pretend that we are for common man' Koolaid that you have been fed.

WesleyHightower (November 30, 1999 at 12:00 am)

'EVERY FORECLOSURE WINDS UP WITH SOMEBODY IN THE INDUSTRY MAKING ANOTHER LOAN'. So you think that the idea is to get someone into a mortgage and foreclose so that another loan can be made? It would be interesting to know what other wacky 'conspiracy theories' you subscribe to. The fact is 100's of lenders and brokers have gone out of business and look what happened to the nations largest mortgage lender, Countrywide. ..........

ALR6002 (November 30, 1999 at 12:00 am)

You're being disingenous now. If you believe lenders went out of business because of borrowers and defaults, step away from the Koolaid. EVERY FORECLOSURE WINDS UP WITH SOMEBODY IN THE INDUSTRY MAKING ANOTHER LOAN. Investors pulled the plug on the magic subprime perpetual motion machine and the lenders that could only thrive in the artificially inflated, high-profit abusive lather-rinse-repeat loan business model died off. Their greed finally caught up with them.

WesleyHightower (November 30, 1999 at 12:00 am)

These weren't 'my' products, these were products offered by lenders and yes a lot of them were risky. Any product that I sold had several options regarding rate and terms. Most of them had the option of a fixed rate with a higher payment. When given this option most borrowers took the lower payment. Why would they worry? They could sell the place in a couple years and make a profit, right? What do you do for a living? I'm sure I can find a way to make you look like a bad guy?

WesleyHightower (November 30, 1999 at 12:00 am)

'What happens later has no affect on them.' Oh yeah, thats why 100s of lenders have gone out of business in the past year. I don't mean to be disrespectful, but you don't seem to know what you are talking about.

ALR6002 (November 30, 1999 at 12:00 am)

Borrowers may or may not do "their homework." You seem to keep hanging on to the industry mantra that your products weren't the problem. Far too many of the "folks" losing their homes were taken advantage of. Many of them could afford the home if they weren't faced with abusive servicing practices and outright fraudulently-created loans foisted on them by people who took their commissions and ran.