Well, so Lehman Brothers could not find a buyer in the 11th hour and filed for Bankruptcy. No big surprise - we've been saying "Garbage in - Garbage out" for a couple decades now...In this case, we're not talking about computers. The "garbage in" is the ridiculous loans that have been made. You can always expect this kind of thing when people are making big money without having to be smart. Think about it. During the height of the real estate boom, my phone was ringing off the hook with people identifying them as "real estate investors." They were always looking for property where they could borrow 103% and cash flow with a tenant in the house. Never once did I take a bite of the tempting fruit of the out of state "investor." Californians were amazed at how cheap homes are here i...
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