tag:blogger.com,1999:blog-4040698769460875478.post8461673068307885633..comments2023-09-03T08:17:48.767-04:00Comments on The People's Champ: Week 5 Thoughts- First Quarter ReportThePeoplesChamphttp://www.blogger.com/profile/16665984137973743304noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4040698769460875478.post-85165201800407051462008-10-16T16:32:00.000-04:002008-10-16T16:32:00.000-04:00Why would anyone blame the financial crisis on acc...Why would anyone blame the financial crisis on accountants and sarbanes oxley.<BR/><BR/>This is the reason for the crisis:<BR/>http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html<BR/><BR/><BR/>Should the republicans have stopped it?<BR/>No, The housing Market was pushing the economy, any Republican who would have stood up and said to stop the Mortgages would have been branded a fool.<BR/><BR/>Do we need regulation or can the market regulate itself?<BR/>No regulation needed. The truth is the bankers screwed up. They never would have purchased all the mortgages and mixed them in complex derivitives if they had brains. They were foolish. <BR/><BR/>They are greedy and buying worthless securities should not have happened based on greed. It happened based on stupidity. Also, mortgage brokers are low lives. They were loving the commisions and encouraging refi's and taking loans based on rising RE values. (We all got the calls and junk mail. This happened on the main street level and not wall street level.<BR/><BR/>Force Banks to hold mortgages they give for 10 years before assigning them. Problem solved.<BR/><BR/>Credit Card and Mortgage solitications should be outlawed.Anonymousnoreply@blogger.com