06-05-2008, 08:40 AM
Evan Wrote:I think a false assumption that a lot of people are making here is that all this "created" wealth like what Andy talked about is a good thing and how the market should have stayed. Like I said, this is a correction, not a crisis.Someone give me some numbers that says this isn't a crisis*.
*A crisis doesn't necessarily mean government intervention. It just means that the situation is greater than the normal business cycle correction.
Fraud was clearly committed on a large scale. No way someone gets a 300K-500K loan without mortgage brokers inflating income "estimates." We won't know how large until the Feds start investigating this stuff.
Two feet.