European Tribune - Comments - So they all knew it was a bubble, now?

So they all knew it was a bubble, now? | 119 comments (119 topical, editorial, 0 hidden)

Re: So they all knew it was a bubble, now? (4.00 / 4)

The ARMSs are definitely at the heart of this. But more than just ARMs was general speculation and how these mortgages played into it. Quite a number of these ARMs were sold in bait-and-switch schemes so many people were not fully aware of the implications of these mortgages. The most notorious mortgage company in the bait-and-switch scheme was Ameriquest which just settled a multi-state federal court lawsuit for about $350 million. During this time, Bush appointed their CEO to be Ambassador to the Netherlands.

by BJ Lange (langebj@gmail.com) on Fri Aug 17th, 2007 at 11:02:13 PM EST
[ Parent ]

Re: So they all knew it was a bubble, now? (4.00 / 2)

Jebus.

That makes perfect sense in the worst way.

-----

The best argument against democracy is a five minute conversation with the average voter.
W. Churchill

by US expat Ukraine on Sat Aug 18th, 2007 at 02:11:32 AM EST
[ Parent ]

So they all knew it was a bubble, now? | 119 comments (119 topical, 0 editorial, 0 hidden)

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