skippy the bush kangaroo

Monday, December 01, 2008

who could have predicted?

especially when they were warned?
the bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. it ignored remarkably prescient warnings that foretold the financial meltdown, according to an associated press review of regulatory documents.

"expect fallout, expect foreclosures, expect horror stories," california mortgage lender paris welch wrote to u.s. regulators in january 2006, about one year before the housing implosion cost her a job. - ap via seattle pi

and seattle should know about meltdown...washington mutual is melting away employees. 3,400 in seattle alone.

i'm counting the days...the hours...

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posted by Cookie Jill at 8:26 PM |

1 Comments:

Is it really that long????
damn, I'm depressed all over again....
commented by Blogger Essaress ; Prior of the F.C.F.J.,, 10:21 AM PST  

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