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re: The actual upcoming real estate crisis. CRE loans and vacant office buildings
Posted on 9/26/23 at 9:53 am to secfballfan
Posted on 9/26/23 at 9:53 am to secfballfan
quote:
It was a Black Swan event, NO banker or person could have foreseen it. I have no love for the big banks but they did not cause Covid. Now the 2008 Crises- 100% on the banks and AIG et al.
Not only was it foreseeable, it was inevitable. And it isn't the job of taxpayers to cover businesses for not mitigating their risk. Failure is one of the most fundamental aspects of capitalism. We are quickly becoming a plutocracy.
1
Posted on 9/26/23 at 11:26 am to Buryl
quote:
Now the 2008 Crises- 100% on the banks and AIG et al.
Uh, not really... banks et al were being forced to make loans to uncreditworthy borrowers who were allowed to make up income requirements on the spot and only needed a signed letter from the borrower attesting to that income.... driven by Democrat policy.
The "blame the banks" fallacy doesn't get to the root cause.
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