tag:blogger.com,1999:blog-12897315.post5556946657559945059..comments2024-03-18T18:30:39.000-05:00Comments on Dad29: Part II of the "Mortgage Problems"Dad29http://www.blogger.com/profile/08554276286736923821noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-12897315.post-48182574630090379662007-12-01T09:46:00.000-06:002007-12-01T09:46:00.000-06:00I have been saying it is market demand from 'profe...I have been saying it is market demand from 'professional' money managers for 'high yield' investments that creates, fuels and sustains the subprime mess. Lenders were making lax underwriting loans only because they could sell them off their books almost before the ink dries on the notes. <BR/><BR/>The ironic thing is that these 'professional' money managers were buying a product ID number with a stated probable yield and certificate of authenticity from some rating agency --- and no one in the whole decision chain has any idea of what underlying assets are. There is an old corporate saying: ‘Trust the System’. A whole lot of people forget the sage modification: 'Trust but Verify'.Random10https://www.blogger.com/profile/05176518952013889746noreply@blogger.com