Sunday :: Aug 19, 2007

Open Thread

by Mary

Surprise: that there were problems in the housing market were not a surprise to those who dealt in reality.

“All of the old-timers knew that subprime mortgages were what we called neutron loans — they killed the people and left the houses,” said Louis S. Barnes, 58, a partner at Boulder West, a mortgage banking firm in Lafayette, Colo. “The deals made in 2005 and 2006 were going to run into trouble because the credit pendulum at the time was stuck at easy.”


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Mary :: 12:01 AM :: Comments (17) :: Digg It!