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<p>[QUOTE=&quot;statequarterguy, post: 1297199, member: 21782&quot;]Yes, the banks knew, based on the buyers&#039; loan apllications, that x% would default.&nbsp; But, then I think the banks wrongly assumed too that prices would continue to rise, so even when the buyer defaulted, they wouldn&#039;t lose.&nbsp; Or, even better, the banks got bailed out and grabbed the houses at bargain prices.</p><p><br /></p><p>This brings us back to what happened?&nbsp; IMO, the number one contributing factor to the colapse was the loss of jobs through unfair trade agreements that benefit big money and screwed the working class.&nbsp; You can say the world market is here and companies can operate were they want, which is true.&nbsp; But, then let&#039;s treat them like foreign companies that want access to our markets, yet provide no jobs here.[/QUOTE]</p><p><br /></p>

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