The New Bailout

sugarpop · 03-28-2009, 07:23 PM

I don't want to do the math. I understand the math. Do you understand my argument, or question rather?

Honestly, if banks had just renegotiated those mortgages to begin with, this may not have happened. Really.

And... whoever heard of an appraisal person asking the seller what price they would like their house appraised at? There was all kinds of trickses going on.

xoxoxoBruce · 03-28-2009, 07:37 PM

Yeah, there was some (a lot of) underhanded shenanigans going on, especially in the subprime market.

But more than that, even intelligent people were making some poor choices when overwhelmed with all the legalese and "expert" opinions. Here's an article in NewScientist about how people tend to accept what "experts" say, even when it goes against their common sense.

classicman · 03-29-2009, 01:15 AM

Quote:

Originally Posted by sugarpop

I don't want to do the math.

Therein lies the problem with your argument.

03-28-2009, 07:37 PM	#2
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Yeah, there was some (a lot of) underhanded shenanigans going on, especially in the subprime market. But more than that, even intelligent people were making some poor choices when overwhelmed with all the legalese and "expert" opinions. Here's an article in NewScientist about how people tend to accept what "experts" say, even when it goes against their common sense. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode

03-28-2009, 07:23 PM	#1
sugarpop Professor Join Date: Nov 2008 Location: the edge of the abyss Posts: 1,947	I don't want to do the math. I understand the math. Do you understand my argument, or question rather? Honestly, if banks had just renegotiated those mortgages to begin with, this may not have happened. Really. And... whoever heard of an appraisal person asking the seller what price they would like their house appraised at? There was all kinds of trickses going on.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)