Mortgage Borrowers Take Some Responsibility. Banks Still Blamed

On Monday I wrote a heated commentary on the suspected back door bailout of Bank of America which essentially called out every participant in the housing finance system as a culprit behind this oh so brutal economic meltdown and corresponding loss of investor confidence. Of course our most vocal readers had very harsh words for the "too big to fail" bankers. Here is an excerpt from that commentary... "Everybody involved in the home buying process played a role in reps and warrants breaches. Consumers, Realtors, Brokers, Builders, Bankers, Originators, Attorneys, Appraisers, Accountants, Underwriters, Processors, Receptionists. EVERYBODY INVOLVED. The blame cannot be localized. We might as well just put the entire housing industry on trial now and get the "burning at the stake" over with so...(read more)

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Source: http://www.mortgagenewsdaily.com/01062011_share_the_blame.asp

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