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<p>[QUOTE="desertgem, post: 1105565, member: 15199"]I can't lay blame on them alone. All of us have to take some blame. Everyone wanted to own a home whether it was financially possible or not. So the government told the banks to originate loans so everyone could qualify ( a part time employee of Target got a loan for over $300,000 based on his salary). He and the agent also most likely lied on the app. the lawmakers also made it easy for the banks to package up the loans and resale as derivatives. In the old days neither of these would occur. We the citizens are responsible because of who we elected and then they made the decisions. Most of us at the time didn't have the knowledge to understand why it was wrong, or if we did, thought it would continue on a while longer. SO , IMO, the banks( Wall Street) and government are doing a good job considering what they are working with, and who they are working with ( Congress). I think that a major bank like JPM, will match or beat the gains of PM in the next year. </p><p><br /></p><p>Jim</p><p style="text-align: left"><span style="color: #000000"><br /></span></p> <p style="text-align: left"><span style="color: #000000"><br /></span></p><p>[/QUOTE]</p><p><br /></p>
[QUOTE="desertgem, post: 1105565, member: 15199"]I can't lay blame on them alone. All of us have to take some blame. Everyone wanted to own a home whether it was financially possible or not. So the government told the banks to originate loans so everyone could qualify ( a part time employee of Target got a loan for over $300,000 based on his salary). He and the agent also most likely lied on the app. the lawmakers also made it easy for the banks to package up the loans and resale as derivatives. In the old days neither of these would occur. We the citizens are responsible because of who we elected and then they made the decisions. Most of us at the time didn't have the knowledge to understand why it was wrong, or if we did, thought it would continue on a while longer. SO , IMO, the banks( Wall Street) and government are doing a good job considering what they are working with, and who they are working with ( Congress). I think that a major bank like JPM, will match or beat the gains of PM in the next year. Jim [LEFT][COLOR=#000000] [/COLOR][/LEFT][/QUOTE]
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