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August 16, 2007
It would certainly appear that doomsday is at hand for the ridiculous sub prime lending market. Today, Countrywide was mentioned as being in hot water as a result of their many holdings in the sub prime market.
I must confess that I find it hilarious that many sub-prime lenders are begging for a government bailout, like the ones quoted in the Countrywide article above. How fair would it be for the government to bail out them and not the thousands who these same banks foreclose on each month?
read comments (2)
August 17th, 2007 at 11:23 am
Haha, that’s hilarious. Bail outs for the big companies and the little guys get screwed.
August 17th, 2007 at 11:29 am
Perhaps the worst part of it all is that the banks are upset because investors are cutting their credit lines low because they consider the sub-prime loans to be bad investments.
The banks want to make more bad loans and can’t find the capital to do so, and this is their cause for complaint.