Friday, March 1, 2019

WAS IT THE BORROWER? OR WAS IT THE LOAN? by Danny Hammond

CONTRARY TO POPULAR BELIEF

THE FOLLOWING CALCULATION
IS RIDICULOUS MYTH AND LEGEND:

BAD MORTGAGE LOAN = BAD MORTGAGE BORROWER

I know no safe depository of the ultimate powers of the society but the people themselves and if we think them not enlightened enough to exercise their control with a wholesome discretion, the remedy is not to take it from them, but to inform their discretion by education. This is the true corrective of abuses of constitutional power.”

Thomas Jefferson, Letters of Thomas Jefferson


by Danny Hammond

I posted an article on Facebook the other day and mentioned the movie “The Big Short”. A good friend and someone I would never lecture just happened to comment on my post that he liked that movie and felt like that he had to watch it three times to understand what these Wall Street Guys were actually doing.