Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend

Printer Friendly Page Save As Favorite View Favorites (# of views)   2 comments
OpEdNews Op Eds

S & L Crisis II

By       Message saint peter II     Permalink
      (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com

 

The S&L Crisis II was the result of the same factors as the S&L CrisisI, namely valuation of property that was not sustainable over time and the use of inaccurate personal data to promote the issuance and subsequent sale of mortgages. Freddie Mac and Fanny May were headed up by people with outstanding credentials and yet both have seen their common stock drop 9% in the last year this makes unlikely that just replacing CEO'S and CFO'S is going to prevent the inevitable S&L Crisis III . At present Attorney General Coumo of NY State is pursuing companies that participated in falsely evaluating property values with a mind to prosecution, unfortunately the damage is done. To protect from false valuation and to some degree the natural swings in the property market it may be necessary to allow banks in the FDIC system to make mortgages up to 80% of the average of the last ten years assessed value. Nothing much can be done about falsification of personal information except to put a lot of people in prisons that are already over crowded at unsustainable cost to the community 

 

- Advertisement -

View Ratings | Rate It

Went to Amherst College where I majored in political science and fine art. I found this to be a good foundation for the citizen editorial cartoon work I currently do, although far from enough. My work in what is called the mental health field with (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Citizen Editorial Cartoons: WikiLeaks A Battle Not The War

Citizen Editorial Cartoons: Chinese-American Corporations: Politics and Money

S & L Crisis II

Palin and the Intelligent Hand

Are you feeling a strange hand in your pocket?

Greenspan The Shock Heard Around The World