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That Guy · 09-08-2008, 07:42 AM

the reason they're in such horrible straits is due to thousands of individual neg am. mortgage salesmen selling bad loans (which the financial sector encouraged, or at least turned a blind eye) and the huge bonuses given per loan (up to 30-40k PER mortgage contract).

those guys are obviously out of business now, but they got their money before it burst.

09-08-2008, 07:42 AM	#3
That Guy Living Legend Join Date: Jun 2004 Location: VA Age: 42 Posts: 17,576	Re: US Government takes over mortgage giants the reason they're in such horrible straits is due to thousands of individual neg am. mortgage salesmen selling bad loans (which the financial sector encouraged, or at least turned a blind eye) and the huge bonuses given per loan (up to 30-40k PER mortgage contract). those guys are obviously out of business now, but they got their money before it burst.