- Joined
- Dec 22, 2005
- Messages
- 66,431
- Reaction score
- 47,470
- Gender
- Male
- Political Leaning
- Independent
there was no admonishment. there was course correction, such that those loans we were on the fence about would be given a 'yes' instead of a 'no'; that was because our low default rate indicated we had historically been too conservative in our creditworthiness evauationsThen I have to call bull rap on claims that you would be admonished if default rates weren't high enough.
no. loan defaults were the RESULT of poor financial managementLoan defaults were the fuel for the economic crisis and people that think like you made it all possible.
it was the mismanagement by the financial sector and weak governmental oversight that LED to the defaults
not the approach of an astute personYou gamble on a home purchase figuring it will always go up in value.
there is always the chance for market corrections, even to the point that values may deflate instead of increase
but one must be alert to look for signs of them
as a real property appraiser prior to entering government service, i was better positioned than many, such as yourself, to gauge the economic winds
no. i correctly anticipated the recession and took steps to secure my portfolio and that of my employerYou find out you're wrong.
no. i did not screw up. when the financial game of musical chairs ended, i was sitting downYou screwed up and make everyone else eat your mistake.
it was those financial neophytes such as yourself who were left to eat the accrued losses
we ended up in economic crisis because of limited financial understanding and weak governmental oversight of the financial industryThat's why we ended up with the economic crisis.
i didn't get hurt. in fact, i got well. but it was people like you who were so afraid they were going to miss the rising financial tide that their greed caused them to select bad investmentsThanks to all the people that think like you.
i amYou must be proud.
that i was able to forecast what was coming and adequately secured myself and my family. i also attempted to better secure my employer, one i had only recently turned around after an episode of embezzlement. the new CEO ignored my admonitions because, like others of you, he was afraid he was going to miss out on profits if we significantly adjusted our portfolio. i wrote a memo explaining the basis of my concerns, encouraging him to discuss my assessments with the board before i departed. he opted not to, and was soon without a job after the crash, the board having learned that he chose to keep them in the dark about his decision