This one's a bit harsh but needs to be asked...
Should poor people with limited income, inconsistent work and credit histories and no chance of paying the loan back have been allowed to buy $500,000 houses with teaser rate liar's loans on interest only terms with no money down?
Should poor people with limited income, inconsistent work and credit histories and no chance of paying the loan back have been allowed to buy $500,000 houses with teaser rate liar's loans on interest only terms with no money down?
Follow-up question - what were Countrywide and IndyMac thinking?
(Disclosure - I'm short IndyMac, and not in favor of people living beyond their means)
