Something Scary - TriStateTuners.com :: Home of Tristate Auto Enthusiast

~Brian~ · 02-28-2008, 05:11 PM

http://www.cnn.com/2008/US/02/28/bec...ary/index.html

I know this is just an editorial, but it's still scary none-the-less.

Read the whole article.

The Captain · 02-28-2008, 05:25 PM

Read the whole thing. Think the majority is pretty bs. Almost like it was written just to scare people, not inform them. I love how he starts the article saying how he's the kind of person who looks at both sides of things, then writes an article only about the bad side. Typical writer. With the amount of government bailouts going on right now, i doubt it will get anywhere near as bad as this guy says. Yes, the economy is in a sticky situation and the housing crisis is not getting much better, but these things happen. We have a cyclical economy, good times and bad times.
However, if people are able to go off and continue to do stupid **** like giving mortgages to people who don't deserve mortgages and then backing corporate paper with these mortgages combined with good mortgages to give get a good rating, we are going to be in trouble again. More responsible and ethical actions need to be taken and rating agencies need to do their homework much better.

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02-28-2008, 05:25 PM	#2
The Captain Tri-State Post Whore Join Date: Jan 2007 Location: West Philly - FBG$ Member #3369 My Ride: Prelude iTrader: (2)	Read the whole thing. Think the majority is pretty bs. Almost like it was written just to scare people, not inform them. I love how he starts the article saying how he's the kind of person who looks at both sides of things, then writes an article only about the bad side. Typical writer. With the amount of government bailouts going on right now, i doubt it will get anywhere near as bad as this guy says. Yes, the economy is in a sticky situation and the housing crisis is not getting much better, but these things happen. We have a cyclical economy, good times and bad times. However, if people are able to go off and continue to do stupid **** like giving mortgages to people who don't deserve mortgages and then backing corporate paper with these mortgages combined with good mortgages to give get a good rating, we are going to be in trouble again. More responsible and ethical actions need to be taken and rating agencies need to do their homework much better.