tag:blogger.com,1999:blog-8918506024298353276.post7435714850643274620..comments2023-09-20T07:41:02.432-04:00Comments on Polecolaw: Subprime SocializationPalermo's Bloghttp://www.blogger.com/profile/09467127128993089930noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8918506024298353276.post-19430626811188071542007-11-01T14:15:00.000-04:002007-11-01T14:15:00.000-04:00Mark,I've been contemplating how to comment on thi...Mark,<BR/><BR/>I've been contemplating how to comment on this and some of your other posts for the last few days.<BR/><BR/>The temptation was to write a book that would be: inappropriate in length, and of a potentially inflammatory tone.<BR/><BR/>I like you, so I didn't want to do something like that.<BR/><BR/>Instead, I'd like to refer you to <A HREF="http://blog.lawrencedloeb.com/2007/11/whos-to-blame.html" REL="nofollow">my post</A> on the subject. It was inspired by a class I attended at my graduate school alma mater.<BR/><BR/>I look forward to any thoughts you might have on the matter.Lawrence D. Loebhttps://www.blogger.com/profile/05600981191177652648noreply@blogger.comtag:blogger.com,1999:blog-8918506024298353276.post-75325687233356862602007-10-30T15:19:00.000-04:002007-10-30T15:19:00.000-04:00Thanks for the post! I agree that the wrong people...Thanks for the post! I agree that the wrong people are targeted in the report..I am one of the loan originators that was just doing what we get paid for..finding a loan the buyer could qualify for. We did not make up the lending guidelines.. I never funded a option arm to my clients but am getting painted as somehow who caused this mess.<BR/>So now the reforms are going to be written by the banks, eliminate competition from the state bankers and brokers.. remove YSP which are designed to assist borrowers in obtaining loans such as Fed VA, Rural development, etc when they are short of funds to pay costs.. BUT the banks are still advertising the No-cost loans, and other deceptive products to the consumer...where are the regulators?<BR/>so the banks get what they want more market share, reduced competition from state licensed competition...and the big one.....<BR/>a waiver from any of the proposed reforms because the (OCC) Office of the Comptroller of the Currency is protecting the consumer. Am I the only one who is concerned this garbage will pass?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8918506024298353276.post-45034798844130665332007-10-26T10:53:00.000-04:002007-10-26T10:53:00.000-04:00If you are curious, the company I refer to in the ...If you are curious, the company I refer to in the Supreme Court Case as Grokster is more widely recognized as Morpheous, the company with the file sharing program that was shut down (due to that decision by the Court).Palermo's Bloghttps://www.blogger.com/profile/09467127128993089930noreply@blogger.comtag:blogger.com,1999:blog-8918506024298353276.post-21849849440354464822007-10-25T21:25:00.000-04:002007-10-25T21:25:00.000-04:00I agree completely. The moral hazard is huge. Bu...I agree completely. The moral hazard is huge. But Merrill shareholders paid though.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8918506024298353276.post-1561511286464868652007-10-25T16:22:00.000-04:002007-10-25T16:22:00.000-04:00As long as the Fed keeps bailing out bad business ...As long as the Fed keeps bailing out bad business practices such as bundled sub prime paper sold as investment vehicles these type of events will never stop. It seems we are due for another rate cut at the next meeting.Anonymousnoreply@blogger.com