RyansRangers Posted February 16, 2008 Share Posted February 16, 2008 This is pretty funny, and educational at the same time. If you wonder how we got in this mess to begin with this explains it you mortgage guys will like this! http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted February 16, 2008 Share Posted February 16, 2008 They forgot the part where the people at the top of RSG and like companies split up 100s and 100s of billions of dollars in bonuses before it all went to hell and did this **** willfully. Funny little cartoon, though. Link to comment Share on other sites More sharing options...
RyansRangers Posted February 16, 2008 Author Share Posted February 16, 2008 They forgot the part where the people at the top of RSG and like companies split up 100s and 100s of billions of dollars in bonuses before it all went to hell and did this **** willfully. Valid Point Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted February 16, 2008 Share Posted February 16, 2008 Valid Point It's kind of amusing (or sad, really) when you think about it. They helped **** so many people and mess up the economy, quite knowingly, and what'd they end up getting? Fired? Oooooh, I'm sure getting fired in 07 hurts the guy who got $900,000,000 bonus at the end of 06. Ah well, these type of people are the criminals in our society who always get away scott free while others rot in the joint for smoking a joint. That's what I call justice. :laugh: Link to comment Share on other sites More sharing options...
RonJeremy Posted February 16, 2008 Share Posted February 16, 2008 Good Stuff...and sadly it is very accurate. Link to comment Share on other sites More sharing options...
Fergasun Posted February 16, 2008 Share Posted February 16, 2008 So when does housing start going back up again? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted February 16, 2008 Share Posted February 16, 2008 Good Stuff...and sadly it is very accurate. :laugh: Especially the last 8 slides. Link to comment Share on other sites More sharing options...
RyansRangers Posted February 16, 2008 Author Share Posted February 16, 2008 Its kinda sad really, when it just shows greed at every level Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted February 16, 2008 Share Posted February 16, 2008 Its kinda sad really, when it just shows greed at every level From the buyers wanting more than they could afford or were prepared for, to the LOs, to the banks, to investors they were sold too.....greed muddied the water at every single step along the way and all are at least somewhat culpable. I would say, however, that I don't blame the buyers so much as it's the JOB of everyone else up the list is to determine whether or not they're worthy of having the loan. Link to comment Share on other sites More sharing options...
RyansRangers Posted February 16, 2008 Author Share Posted February 16, 2008 From the buyers wanting more than they could afford or were prepared for, to the LOs, to the banks, to investors they were sold too.....greed muddied the water at every single step along the way and all are at least somewhat culpable. I would say, however, that I don't blame the buyers so much as it's the JOB of everyone else up the list is to determine whether or not they're worthy of having the loan. I agree at some point. The first time homebuyer is hard to blame a lot, however the homeowners who refi'd with the exotic terms and the people who htough they were investors are equally to blame. There is a 3 day recision period to reveiw term and conditions and if you still took out a Option arm at 90% ltv you are to blame Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted February 16, 2008 Share Posted February 16, 2008 I agree at some point. The first time homebuyer is hard to blame a lot, however the homeowners who refi'd with the exotic terms and the people who htough they were investors are equally to blame.There is a 3 day recision period to reveiw term and conditions and if you still took out a Option arm at 90% ltv you are to blame True, but at the same time, in many cases, they were options that never should've been available to those people. But you're right, the blame is shared. Obviously, this doesn't apply to everyone on each level, either. Plenty of LOs were responsible and didn't willingly put their clients in bad situations, some banks shied away from the stupider loans and some of the investment firms smartly stayed the hell away from these loans. Just thought I should point out that I'm not condemning everyone on a wholesale basis. Link to comment Share on other sites More sharing options...
DCsportsfan53 Posted February 16, 2008 Share Posted February 16, 2008 So when does housing start going back up again? Very hard to say. Loans are (rightfully) harder to get know and there's a lack of investment capital and good credit out there. Also, there's still a ton of bad loans yet to reach the tipping point. Could be quite a while. Link to comment Share on other sites More sharing options...
RyansRangers Posted February 16, 2008 Author Share Posted February 16, 2008 So when does housing start going back up again? tomorrow! you didnt get the memo Link to comment Share on other sites More sharing options...
HokieJ Posted February 16, 2008 Share Posted February 16, 2008 Not for some time values are still dropping. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted February 16, 2008 Share Posted February 16, 2008 tomorrow! you didnt get the memo I heard April 1st. Link to comment Share on other sites More sharing options...
RyansRangers Posted February 16, 2008 Author Share Posted February 16, 2008 Not for some time values are still dropping. Thank God not here in CT we saw a 1% increase and expect the same this year.. that still doesnt take away from the fact the industry is dead Link to comment Share on other sites More sharing options...
Fergasun Posted February 16, 2008 Share Posted February 16, 2008 I was just being facetious... I don't think prices will ever get back up to that peak... no one is able to afford them... I'm not kidding! Link to comment Share on other sites More sharing options...
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