Comments on: House Of Cards: The Mortgage Mess

60 Minutes Reports On How The Subprime Loan Crisis Is Shaking Markets Worldwide

[tonys58]

I always scratch my heads as our highly compensated CEO''s amaze me how ignorant they are. Enron, WorldCom,
Tyco take us for a loop. Now the high priced bankers want their share. The bankers should watch "It''s a Wonderful Life" at least once a week. Lending money should be rather simple and not become a high stakes poekr game.

[vegasfloyd]

There''s a number of directions to point the finger. I thought that was a fairly accurate piece.

[golfer3800]

Once again you fail to get to the root cause of the issue! In the 2002-2004 timeframe, the US Congress put pressure on banks to lend money to Blacks, Hispanics and poor whites so that they copuld participate in the American dream---home ownership. Unfortunately, these weak kneed banks acquiesed and then needed to lower their credit standards in order for the parties so named to qualify for the loans. They did this after "pressure" from lobbying groups put on the banks "or else". They then started the snowball rolling and we now have the greatest credit fiasco in the US history. These dumb banks then started to package and then "trade" these "securities. The rest is history. Root cause of the problem. The dumb ***, ignorant Congress of the US that only worries about getting reelected and nothing else. They are beyond dumb, on the take in most cases and more ignorant than a box of nails. Throw all of them out and start all over!!! J . Slater, Charlotte, NC