Re: Economist nonsense Soc.Sec. and houses

Mason C wrote:
> On Fri, 21 Nov 2008 15:36:55 -0800, Peter Franks <none@[EMAIL PROTECTED]
> wrote:
> 
>> Mason C wrote:
>>> On Fri, 21 Nov 2008 10:07:22 -0800, Peter Franks <none@[EMAIL PROTECTED]
>
wrote:
>>>
>>>> Mason C wrote:
>>>>> On Thu, 20 Nov 2008 22:00:11 -0800, Peter Franks <none@[EMAIL PROTECTED]
>
wrote:
>>>>>
>>>>>> Mason C wrote:
>>>>>>> That is a failure of the unregulated free market -- overselling
and 
>>>>>>> in many cases outright deception if not criminal fraud.
>>>>>> What is an example of the deception and/or fraud?
>>>>>>
>>>>> Deception:  telling people they could afford a house they
*obviously* 
>>>>> could *not* afford.   
>>>> ?
>>>>
>>>> I've always assumed that was MY responsibility.  So is what you are 
>>>> saying that it is someone else's job to tell me what I can and can't 
>>>> afford???
>>> No.  Read.  It is someone -- anyone's -- responsibility to not deceive
you.
>>>
>>>>  If that is the case, I've never listened to or obeyed what 
>>>> someone else has told me to do wrt what I can and can't afford. 
Please 
>>>> explain why I'm not in debt and live within my means?
>>> You are intelligent and well-educated and not vulnerable to a sharp 
>>> mortgage salesman.  Lucky you.  Not all are so lucky.
>>>>> Fraud:  unrecorded verbal instruction at odds with the fine print.
>>>> ?
>>>>
>>>> What are these "unrecorded verbal instructions" you speak of?
>>> The instructions sharp mortgage salesmen gave to people strongly 
>>> desiring to own a home.   
>> So, what changed?
>>
>> Why were these "sharp mortgage salesmen" now pu****ng (what would soon 
>> become bad) loans?
> 
> These salesman, many for "mortgage brokers" and many for banks, were 
> under instructions and given commissions for creating mortgages.  

Under instructions from whom?

> I don't want to be rude but your questions suggest that you are not 
> aware of what's been happening.

Oh, I'm aware.  I don't agree with the conclusion, so I'm examining the 
premise.  That makes sense, right?