tag:blogger.com,1999:blog-21077080.post9075761584192308787..comments2023-08-18T10:14:37.977-05:00Comments on WhenEvilProspers: John Washburnhttp://www.blogger.com/profile/04182558340478176184noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-21077080.post-10951660182586813712007-09-06T14:37:00.000-05:002007-09-06T14:37:00.000-05:00Dr. You wrote: "At some point we have to let peple...Dr. <BR/><BR/>You wrote: "At some point we have to let peple suffer the consequences of poor decisions" and I think you meant "their poor decisions."<BR/><BR/>Unfortunately, the sentence as you wrote it is more accurate. I have the distinct impression that you believe that home owners who bought beyond their means made poor decisions, which indeed they did, but let us examine the other poor decision makers: the deceptive mortgage brokers and lenders; the institutions that rated the bundling of subprime mortgages as creditworthy investments; the buyers and sellers of such bundled mortgages.<BR/><BR/>What about the rest (of us) who are affected by the poor decisions of others: those who though creditworthy cannot obtain loans b/c lenders are hinkey. Investors in what they thought were safe securities whose investments lose value when the market tanks b/c of issues w/ subprime lending.<BR/><BR/>To me, the most amazing, and disconcerting, part of watching the markets was not only the number of bad judgments but also the way all the markets are interconnected.<BR/><BR/>I would rather see a few undeserving people get bailed out than watch world markets melt down<BR/><BR/>I regret to advise of the death yesterday from leukemia of former Federal Reserve Board memeber Edward Gramlich. In June, Mr. Gramlich's book, "Subprime Mortgages: America's Latest Boom and Bust" was published. It is likely to serve as a blueprint for Washington policy makers seeking to find ways to stem a rising tide of mortgage delinquencies.<BR/><BR/>Regards.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21077080.post-18829522614518616382007-09-06T00:32:00.000-05:002007-09-06T00:32:00.000-05:00Sorry, but I'm leary of the government intervening...Sorry, but I'm leary of the government intervening in situations like this. It sets a dangerous precedent and encourages irresponsible behavior. At some point we have to let people suffer the consequences of poor decisions.John Washburnhttps://www.blogger.com/profile/04182558340478176184noreply@blogger.comtag:blogger.com,1999:blog-21077080.post-38934480691349576862007-09-04T15:38:00.000-05:002007-09-04T15:38:00.000-05:00What's the matter with these poor people? Don't th...What's the matter with these poor people? Don't they realize that these problems would magically disappear, if their sons/daughters would just get Law & Accounting Degrees...at the best schools, of course! reb<BR/><BR/>www.lazyonebenn.blogspot.comSNAKE HUNTERShttps://www.blogger.com/profile/08945335226579435368noreply@blogger.comtag:blogger.com,1999:blog-21077080.post-4305366226556844812007-09-04T13:34:00.000-05:002007-09-04T13:34:00.000-05:00Dr.I don't think the president's decision to inter...Dr.<BR/><BR/>I don't think the president's decision to intervene is a compassionately consrvative act to grant a reprieve tohome owners who made bad financial decsions. Rather, it appears to be an attempt to calm the financial markets which have reacted badly to conditions in the subprime lending market.<BR/><BR/>From a practical, if not philosophical, standpoint I think that governemnt action is a better solution to the alternative.<BR/><BR/>Regards.Anonymousnoreply@blogger.com