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<p>[QUOTE=&quot;medoraman, post: 2218177, member: 26302&quot;]Lots of blame to go around for 2008. My final paper for my MBA was an assessment of mortgage securitization that it cannot diversify away Alpha risk, though the market and ratings agencies were acting like they could. The Fed was also responsible for this asset bubble, as was Barney Frank and his calling on the carpet banks not wishing to lend to people who could not possibly repay a mortgage. This was just the start, but even the start had plenty of people on both sides of the aisle responsible.</p><p>&nbsp;</p><p>Are there people who try to cut corners on Wall Street? Of course. Are there also politicians currying favor and forcing bad loans that made the situation worst? Yep. Point out about anyone in power at the time and I bet you I could show you how they also participated. I actually sold my house in 2007 since I knew it would be bad, (well my ex wife helped, but I was going to sell anyway).</p><p>&nbsp;</p><p>I simply disagree it was ONLY investment bankers responsible for 2008. I lost a ton of money also, but I was lucky I was younger. I worked with others who weren&#039;t, and I did feel bad for them getting blindsided like that. The only market then that didn&#039;t take a beating was farmland, and I took that as a further lesson in diversification. Never have too many eggs in any basket, even your house. I may not hit the jackpot on the next hot area, but I likely will have a little exposure to it, and I simply sleep better at night knowing any one or two asset classes tanking tomorrow will not stop me from being able to raise my sons. It might hurt, but I will still be able to buy food. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p>&nbsp;</p><p>I know this doesn&#039;t help SQG, and I wasn&#039;t really intending it to help. I am writing it more as a warning to others, and maybe they can sidestep the next pothole those in power throw at us.[/QUOTE]</p><p><br /></p>

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