Bad Credit Repair Discussion Forum - View Single Post

spinn · 04-20-2008, 10:19 AM

AU score inflation did play a role in the subprime "crisis". I am sure at least ten people got loans that they would not qualify for based on this. As for it being a crisis, its just fear mongering from the media in an attempt to make the current administration look as bad as possible. Normally 99% of people pay their mortgage on time, now it may of crashed all the way down to 97%.

Another aspect is everyone wants a reason for the market going down. The money managers want the sheople to think that once this is over, the market will go back up and they can continue their march off of the edge of a cliff.

Ninety percent of the credit industry is biased towards banks, CRAs, JDBs and anyone else who lends money. AUs and "not mine" disputes are a drop in the bucket.

04-20-2008, 10:19 AM	#37 (permalink)
spinn Elite Member Join Date: Sep 2006 Posts: 999 Casino Cash: $499050	AU score inflation did play a role in the subprime "crisis". I am sure at least ten people got loans that they would not qualify for based on this. As for it being a crisis, its just fear mongering from the media in an attempt to make the current administration look as bad as possible. Normally 99% of people pay their mortgage on time, now it may of crashed all the way down to 97%. Another aspect is everyone wants a reason for the market going down. The money managers want the sheople to think that once this is over, the market will go back up and they can continue their march off of the edge of a cliff. Ninety percent of the credit industry is biased towards banks, CRAs, JDBs and anyone else who lends money. AUs and "not mine" disputes are a drop in the bucket. Last edited by spinn; 04-20-2008 at 10:21 AM.