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<p>[QUOTE="dave92029, post: 986227, member: 26916"]I have a slightly different spin on what happened: Banks, investment bankers, brokers etc. make their money from fees. They need to find a buyer and seller who they can charge a fee. They don't really care if the borrower / insurer has an ability to pay , they just need to find somebody who will accept the paper and pay them a fee for their "service". Since so many of the top guys in the Financial Service Business have short working lives they are motivated by current year bonuses and are not trying to build a business or anything else. It's get in and get out - fast. </p><p><br /></p><p>Guess what, nothing has changed, except the worthless paper has been written off at stockholder and Gov't expense. The guys that were the cause have moved on with their wealth intact, and the game begins again, it's just called something else this time.[/QUOTE]</p><p><br /></p>
[QUOTE="dave92029, post: 986227, member: 26916"]I have a slightly different spin on what happened: Banks, investment bankers, brokers etc. make their money from fees. They need to find a buyer and seller who they can charge a fee. They don't really care if the borrower / insurer has an ability to pay , they just need to find somebody who will accept the paper and pay them a fee for their "service". Since so many of the top guys in the Financial Service Business have short working lives they are motivated by current year bonuses and are not trying to build a business or anything else. It's get in and get out - fast. Guess what, nothing has changed, except the worthless paper has been written off at stockholder and Gov't expense. The guys that were the cause have moved on with their wealth intact, and the game begins again, it's just called something else this time.[/QUOTE]
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