Thursday, November 5, 2009

Bozos and NINJAS

Everything sells in a free market at a price that somebody is willing to pay, stick the mortgages on Ebay and trust me, they will sell, at what price who knows? That is for the free market to decide.

They are only "troubled assets" because the bankers do not like the valuation that the free market is putting on all this junk. Which is why we have had TARP, which is nothing more than socializing the Bankers losses. It is a disgrace.

Nobody forced these bozos to lend all this money to people touchingly known as NINJAS or NO INCOME & NO JOB.

Well, actually, Congress did pass legislation which incentivised banks into making bad home loans in the name of "fairness". The bankers should have known these loans would not result in a good outcome.

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