Quote:
Originally Posted by Proven
Would things be as bad today if the Banks didn't set up Balloon payments, bundled the loans, sold/resold, and lied and tricked other banks into buying them? Not to mention every loan officer BS'ing about ones ability to pay because they want the sale.
It seems your blaming the gov. for handing over the Keys when we're blaming the banks for beating the sh** out of the car.
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You forgot to add that Goldman Sachs and a few hedge funds also set up credit default swaps in order to bet against the CDO's that Goldman bundled and sold to other banks. They just didnt hedge to protect themselves but took positions to profit if there were going to be defaults.