Comments on: Thank You Mr. Speculator. http://nicole325.wordpress.com/2008/08/11/thank-you-mr-speculator/ Wed, 20 Apr 2011 20:49:05 +0000 hourly 1 http://wordpress.com/ By: Steve http://nicole325.wordpress.com/2008/08/11/thank-you-mr-speculator/#comment-23 Fri, 15 Aug 2008 11:49:27 +0000 http://nicole325.wordpress.com/?p=293#comment-23 It’s all about profit and greed. The minute bankers were paid on volume and not on the quality of mortgages written, the system to which you refer broke down. Now banks will have to return to the old ways.

Too bad it takes a car wreck before they install a traffic light.

]]> By: Jerry Armour http://nicole325.wordpress.com/2008/08/11/thank-you-mr-speculator/#comment-22 Fri, 15 Aug 2008 00:35:18 +0000 http://nicole325.wordpress.com/?p=293#comment-22 Our bankers seem to have been big in the speculator game too. How else can you explain the pumping up and then demise of the “mortgage backed bonds” and now the demise of auction rate securities. We were always taught that the banking system was supposed to be a conservative force to keep our economy strong. Instead, they have become as undiciplined as hedge fund managers.

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