jeroen
26 Feb 2009
News / Forget Ukraine! The question is: " Is Poland going down??" [36]
We are all responsible,
* the mortage broker that sold the mortgage and did not care shit if you could repay the loan, as long as he got his commision
* The loan taker, who should not have taken the loan, but was blinded by rising property values.
* the rating agencies who rated these loans as tripple A
* The big players who traded these loans in the market
* Schools, local goverment who invested in these loans
* The insurers who insured those loans
* The regulator for failing to act when it still mattered.
That is the problem with bubbles, a single person/entity can not create it, we all did!
We are all responsible,
* the mortage broker that sold the mortgage and did not care shit if you could repay the loan, as long as he got his commision
* The loan taker, who should not have taken the loan, but was blinded by rising property values.
* the rating agencies who rated these loans as tripple A
* The big players who traded these loans in the market
* Schools, local goverment who invested in these loans
* The insurers who insured those loans
* The regulator for failing to act when it still mattered.
That is the problem with bubbles, a single person/entity can not create it, we all did!