Mason C wrote:
> On Sat, 22 Nov 2008 12:01:41 -0800, Peter Franks <none@[EMAIL PROTECTED]
> wrote:
>
>> 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?
>
> Who give instructions to salesmen? Their bosses of course. Who else?
So, all of a sudden, for reasons unknown, these bosses started telling
the salesman to give "unrecorded verbal instructions" to people strongly
desiring to own a home?
Ok, so what does that have to do w/ an "unregulated free market"? Are
bosses somehow controlled into not making their salesmen give
"unrecorded verbal instructions" in a regulated closed market?
>>> 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?
>
> What "premise"? The facts of what happened?
That is what we are investigating, right?
> What "conclusion"? That the collapse was caused by Bill Clinton or by
> Barack Obama? Or caused by a financial system bubble?
The conlusion YOU posted:
"That is a failure of the unregulated free market..."
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