So where are all the experts claiming we will not have housing bubble and meltdown, where are they h

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Mortgage firms made billions of dollars and the loan officers faking millions of applications to qualify new buyers should be prosecuted along with the firm they work for?

So where are all the experts claiming we will not have housing bubble and meltdown, where are they hiding now?

Well, Angelo Mozillo of Countrywide sold $250m in stock the past year. He's retiring next year unless he changes his mind again.

Americans are predictable. Who needs mind control when you have television to brainwash everyone...

I work for a mortgage bank (still standing). We do our best (better than others obviously) to filter out the fraudulent loans and cut off the people trying to give us that business. However, it does take "two to tango" as they say. The borrowers knew they were buying homes they couldn't afford. They just figured their home would increase indefinitely so they could take out equity lines to buy new SUV's and vacations.

There was an article in the Los Angeles Times several months ago in the business section. There was a picture of a home with a hispanic man and his very pregnant wife crying. The headline read "foreclosure takes family's by storm". The article goes on to explain how this poor "illiterate migrant worker" is losing his 750K home and his 400K investment property. He earns $1800 a month. Yes, over 1 million in real estate for an illiterate farm worker.

I'm college educated and work for a bank. I earn over six figures a year and have for many years. I would never dream of purchasing a home that expensive. Unfortunately we can't give borrowers an IQ test before they sign documents because it would be discriminatory.

The problem is everyone turned into an investor. No one takes a 30 year mortgage anymore and actually tries to pay the balance down. Your home is your home, not an investment. Whether it goes up or down in value you need somewhere to live. The American people themselves fueled this bubble. Everyone was "in on the game" in my opinion. Greedy realtors, brokers, and lenders as well.

So where are all the experts claiming we will not have housing bubble and meltdown, where are they h

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