harry.porter wrote:
Foreclosures in an atmosphere of stagnant sales as well as stagnant or
falling prices is hardly without consequence. Among other things, the
money that was sourced to finance the original mortgages continues to
demand a return even while the loans sit dead, waiting for
liquidation.
Money? What Money? That money was created out of THIN AIR. It exists only on paper as do the losses that "money" represents. Go ahead ....start your own bank and see. Start with 3 million in capital and you can lend 100 million. So why not make risky loans?? You aren't actually loaning anything that you own. Lend to your friends....your relatives....your cronies....why not??
SteveB
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