Tuesday, November 16, 2010
With most people who could afford a home living in a home - what was the next step?
Balloon payments seemed like a good idea for those seeking the American Dream.
But what happens when the note come due?
After 'derivatives' became the easiest way to make money (on paper) - the super rich were granted a reprieve.
But then everyone realized that everyone had paid too much for what they'd owned.
Panic ensued and the super rich enticed Washington to come to their rescue.
Tell the truth - you knew how much your house was really worth.
You were just looking for a sucker bigger than yourself to sell it to.