Quote:
Originally Posted by GRR Spartan
Bush2 didn't and doesn't want to regulate the mortgage business, the GOP believes in self-governing. What that got them was years of fraud at all levels.
Now we see home prces dropping from phony levels back to reality. The people who will get nailed in phase 2 are all the folks who took out home equity loans on their inflated values.
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Unfortunately true. Who should go down is those that packaged and sold these worthless mortgages while knowing that the default rate will go sky high due to fraud.