Slavik, that was more of an FYI... just in case I didn't make it clear, I was quoting an article...

Slava, nu ... eto ne otvet :-) ... "otpiska" ... isn't it consider to be a fraud - to issue morgtage to a person who cant afford it? ... without proper investigation of his income ... isn't it a fraud to push borrowers into signing these mortgages ...
we have Dep-t of Justice ... they didn't do their job then - why don't they do it now?? ... i komu nado raskoljatsa :-) ... Americans vse "sdajut" drug druga :-) ... tak chto eto budet legche chem Vy eto sebe predstvljaete :-) ... (v)

Андрей, опять же таки - многих садить придется.

without proper investigation of his income - Define proper? Here in America we trust each other. ;-)
isn't it a fraud to push borrowers into signing these mortgages - Who says they were PUSHED? Every single one of them left bank happy. They couldn't wait to move into their new house
:-)
Being a devils advocate here.
Upset? U should be, we paying for it now.

of course they were pushed ... they were deceived ... it's a fraud ...
criminal offence ...
nobody is going to trust you when you apply for mortgage ... the problem is - underwriters knew that borrowers couldn't afford loans ... but told them to sign anyway ...
the problem - those "deals" were never properly investigated ...

So should we jail all underwriters?
Andrei, what about those people (borrowers) that signed? Was a meaning of 3 year ARM not explained to them? Or maybe some of them lied about income, used fake paystubs, s.s. #'s, etc. Should they go to jail? There was a good epsiode about them on Dateline NBC with Chris Hansen this weekend
What about Barney Franks and Chris Dodd? Wasn't it their job to monitor?
Like I said before, too many people to investigate

hwy Mr Madoff got investigated? ... the same law should apply to ANYONE ... dont u agree? ... or u think if its small crime - lets just look another way? ...
there's no big or small crimes ...
crime is crime ...
we have dep-t of justice to take care of that ...

Hmm... outside of Madoff vs Mortgage crisis I think I already answered your question. It might not be an answer you want to hear but......
Maybe someone else can shrae their opinions.

Олег, спасибо за инфо. Полезно и коротко. Андрей, я понимаю что в Вашем понимании все банкиры нелюди, но Мэдофф крал деньги у людей, здесь речь идет об ошибочной стратегии, почему за это должны расчитываться наши дети - мне не понять. Представьте что Вы одолжили у тещи 25 тысяч на открытие кафе, все правильно расчитали рай он хороший, офисное здание напротив, вдруг - кризис, всех увольняют, к вам в кафе больше никто не заходит, бизнес прогорел. Вам нечем расплатиться с тещей. Она потеряла деньги, вы вор после этого?

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Хочу лето (или нормальную зиму)

Олег, если после того как мой бизнесс прогорел я приду к теще и скажу ей что мне нужно еше 25 000, чтобы поднять мой бизнесс, и вместо того чтобы этим заниматьса заплачу себе бонус, съезжу в отпуск, потрачу там тещины $$$ ... и вдобавок куплю себе личный самолет (без которого мог бы запросто обойтись) - то кто я после этого? ... самый настоящий ВОР ... спасибо за удачный пример ... именно так поступили CEOs of AIG, Lehman Bro, Citi Bank, etc ... Список можно продолжить ... Все компании которые попросили $$$ у "тещи" (государство) - продолжают тратить направо и налево ... как будто ничего не случилось ... как будто люди не потеряли работу ... как будто это не они привели свои компании к банкротству ...
В етом случае нормальная "теща" начала бы расследование ... К сожалению Democrats don't have guts for that ... *8oI

"Bloomberg News reporter Mark Pittman did a 5 part series of on the subprime mortgage crisis chronicling the Wall Street cowboys creation of subprime mortgage derivatives."
"The new standardized contracts they created would allow firms to protect themselves from the risks of subprime mortgages, enable speculators to bet against the U.S. housing market, and help meet demand from institutional investors for the high yields of loans to homeowners with poor credit."
"The tools also magnified losses so much that a small number of defaulting subprime borrowers could devastate securities held by banks and pension funds globally, freeze corporate lending and bring the world's credit markets to a standstill."