Quote:
Originally Posted by goof2
For now. Interest rates go up, ARMs reset, another wave of foreclosures hit, and they are right back in the bailout line. Most of the banks that are supposedly out of trouble are only safe as long as the Fed continues to ignore inflation.
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And why, pray tell, are so many banks so susceptible to IR's and ARM's and stuff? Why so many foreclosures? Oh yes: they gave away mortgages like candy.
Sorry but they have a fairly significant portion of the blame for being so fragile.