Comments on: Yup, I’m a communist. http://knittinginterrupted.com/2008/10/12/yup-im-a-communist/ Life, The Universe, and Knitting Mon, 13 Feb 2012 04:52:11 +0000 hourly 1 http://wordpress.com/ By: Teresa http://knittinginterrupted.com/2008/10/12/yup-im-a-communist/#comment-1334 Tue, 14 Oct 2008 16:24:00 +0000 http://kniterrupted.wordpress.com/?p=577#comment-1334 I tend to agree with your rant about the speculation and the end result on the economy. I suspect that mortgage lenders thought it was ok to loan money to people who could not pay it back, figuring that the loans would be secured by a house/real estate that was constantly going up in value. They may have figured that either way they would profit, either from the adjustable rate mortgages or the sale of the property if the homeowners went into foreclosure. What they did NOT count on was that there would be glut of houses on the market driving down the value of existing homes-thus the gamble did not pay off.

I agree with your rant. P.S.: why do CEO’S who drive companies into the ground get such great golden parachutes? It’s not like they deserve them …

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