Tax Rebate Incentive Checks

[Kevy Baby]

Originally Posted by Cadaverous Pallor

Yeah, buyer beware, but also Everyone Else Beware, because we're at the mercy of the stupidity of these buyers.

BTD may be right that this exact type of lending may not occur again (in living memory), but this isn't the first time that stupid financial practices by companies and stupid financial decisions by consumers have screwed everyone over. It will happen again and again, in some form.

Speaking simply for myself (and myself only), I have suffered no ill effects of the mortgage fallout. In fact, I saw it coming and intentionally worked my way around it (intentionally did not buy a house, made sure that we were not extending ANY form of credit to our mortgage banking clients, etc.). Too many people took a huge risk with expectations of coming out on top and they are suffering the consequences of their (bad) decisions.

But I know that it has had an effect on the national economy and many MANY people. But the recession (or whatever you want to call it) that we are currently in is not just the fault of the mortgage business collapse. Our economy has its ebbs and flows and there will naturally be upturns and downturns. This too shall pass.