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Old 11-24-2010, 10:36 AM
richschneid richschneid is offline
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Originally Posted by DXK View Post
Oh look, you're wrong again! Government passed a law that restricted financial services companies from engaging in certain transactions and from charging fees and interest on certain products. So now, only people with great credit can qualify for loans with reduced rate since banks cannot take as much risk. So fewer people can get loans / leases and those who do will pay higher rate to compensate for potential losses that cannot be offset by something else.
We'll I'm glad I was wrong about that. At least I can admit when I'm wrong. At least I was wrong about a new law, so please forgive me. Now you still haven't answered my question, you persist in begging the question. I repeat again:

"Well then, who was it who sold all those mortages to people under the premise that the price of houses would never go down? Granted they were not professors of finance, they don't work for banks. So, who in your opinion did it? How many of them had MBAs?"

It's not about how many DIDN'T have MBAs. I asked how many DID have MBAs, or worked for people who had MBAs. Did your mortgage officer work for someone with an MBA? To use your misplaced analogy, almost every person who loses his medical liscense for incompetence is an MD or DO. How many of these private sector companies and banks that have almost bankrupted the country and many of it's citizen's were run, owned, or controlled by people who DID have MBAs? Not even to mention the MBA in charge who ran up FIVE TRILLION DOLLARS in government debt in addition to the TRILLIONS of mortgage debt run up by MBAs in the private sector.
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Last edited by richschneid; 11-24-2010 at 10:43 AM.
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