As thers wrote at Whiskey Fire - Barry misses the point. Mortgage brokers and others were acting rationally. Just ask yourself if they get paid at deal closing what possible incentive could they have to ensure that the mortgages will actually be paid back? The yalready have their salary and annual bonus (measured in number of mortages written, not whether they are being paid back)
My tax practice is centered around captive insurance. I'm the author of the book U.S. Captive Insurance Law (which is also available on Kindle), the leading book in the field. You can learn more about captive insurance at my website.
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.
This blog contains opinions and observations. It is not professional advice in any way, shape or form and should not be construed that way. In other words, buyer beware.
1 comment:
As thers wrote at Whiskey Fire - Barry misses the point. Mortgage brokers and others were acting rationally. Just ask yourself if they get paid at deal closing what possible incentive could they have to ensure that the mortgages will actually be paid back? The yalready have their salary and annual bonus (measured in number of mortages written, not whether they are being paid back)
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