((RAIN)) Rainmakers-Island

[trailblazin]

you could be right....but imo the greed blame goes all around imo. (Not that it's easy to understand the entirety of all this mess...heck I don't.) But from what my pea-brain has been able to garner thus far...

Consumer over-ambitions are obviously in part responsible. (If you really can't afford house payments at X price...then a person should know better than to sign on to an income stated product (liars loan) making their financial picture prettier than it in fact is. Common sense personal accountability.

Corporate greed is in part responsible, for oh-so-obvious reasons.

And yes, I do also blame the embedded interests w/ Fannie (and Congress)as well. If you are going to promote and supply a ready secondary market for bad high-risk loans..loans which in many cases were much too high for the receiver...how can you not expect companies from taking you up on that opportunity? Where's the quality control?

Yeah...looks like some checks and balances need to be put into play here...all the way around.
Oddly...maybe the market conditions have created an unlikely path for Obama...even though there are some reporst now that his investor unfriendly policies are already starting to get priced into this mess as large shareholders are already starting to pull out some of their equities right now to avoid higher cap gain taxes. (I've spoken w/ a couple who are currently doing that..or will be post election if it goes his way....) Cap gains tax increases are about the worst possible thing you could do right now w/ a market in the current conditions, imo. We need more liquidity, not less. Making the cost of participation in the equity investment arena higher is only going to exacerbate the issue.

I'm afraid it's going to get much worse before it gets better. Here's hoping sivc does well over the next few months...the rest of my long-term portfolio plays are getting beat up pretty good. GLTA