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175 comments on The Impact of the Credit Crunch on Energy Markets

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Carolus Obscurus on October 3, 2008 - 3:45pm Permalink | Subthread | Parent | Comments top

It's called 'Equal Opportunities Lending'.

A brief but excellent history of this disaster can be found here:

The Long Road to Slack Lending Standards

http://www.realclearmarkets.com/articles/2008/10/the_long_road_to_slack_...

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Carolus Obscurus on October 3, 2008 - 3:52pm Permalink | Subthread | Parent | Comments top

Steve Sailer (movie critic at the American Conservative) has also written a penetrating analysis of the 'affirmative action' dimension of the sub-prime crisis:

Karl Rove—Architect Of The Minority Mortgage Meltdown

http://www.vdare.com/sailer/080928_rove.htm

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elwoodelmore on October 4, 2008 - 9:50am Permalink | Subthread | Parent | Comments top

i loaned money to my fat lazy brother in law so he could get a car to drive to work. well, he never got a job or even looked for a job and he was lying about how much he was going to make too, he ended up sleeping in the car. in short, this turned out to be a sub-prime loan, a non performing asset and as a result, i dont have the liquidity i need to buy anything else. where is my bailout ?

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DelusionaL on October 5, 2008 - 10:22am Permalink | Subthread | Parent | Comments top

A close friend of mine had a story to share that is right in this ballpark. His aunt loaned money to a flaky inlaw. When she was asked why she said she loaned just enough that he would never come back asking for more. To little they come back- too much it hurts you.
something to think about.

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175 comments on The Impact of the Credit Crunch on Energy Markets

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