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The current market turmoil and attendant drop in

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Telephonics   Wednesday, 08/15/07 12:15:30 PM
Re: NYBob post# 157
Post # of 170 
The current market turmoil and attendant drop in stock prices is directly attributable to the lack of supervision over the hedge funds. If these gluttonous groups had not been so eager to buy up sub prime mortgages this would not have happened. Of course the real basic cause was the issuance of sub prime mortgages in the first place. Most of these borrowers never had any chance of repaying their loans, but the loan originator didn't care. He sold the mortgage as soon as the signatures dried on the paper and took his money out of it.But if he knew he had to hold that paper he never would have given the loan to begin with.,

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