Colli Real Estate

Who will be the Charles Keating of the Sub-Prime Debacle???

Every time Wall Street, the Savings and Loan industry, etc., steps all over their collective schlongs, the media will serve up one individual who is ultimately responsible. The politicians will trip all over themselves to get quoted on their grand solution to the whole mess. Then there will be Congressional hearings and we can watch Joe Biden listen to himself talk. And Teddy Kennedy trying to be sober for more than 30 minutes. The question is, Who will be the fall-guy for these ingenius sub-prime mortgages created by all the beloved pointy-headed MBA’s on Wall Street??? I suspect Jimmy Carter had something to do with it; he’s been out building cheap houses for people with no jobs, no income and no assets for years…

I doubt there will be any finger pointing at a single person. Lenders are already tightening programs, and there will be more regulation of the mortgage broker industry.

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