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Convoluted Mortgage Fraud Theories
Posted by: Mish
Date: 12/09/2007 09:29PM
Convoluted Mortgage Fraud Theories
http://globaleconomicanalysis.blogspot.com/2007/12/convoluted-mortgage-fraud-theories.html
A number of people have all emailed me with a sensational but preposterous "Mortgage Meltdown" article by Sean Olender about the interest rate freeze.
Yes there is "fraud everywhere" as the article suggests, and yes the freeze "has nothing to do with keeping people in their homes", and yes, "The problem isn't just subprime loans", and yes a "mortgage meltdown" is in process.
But the rest of the article is complete nonsense.
Mish
http://globaleconomicanalysis.blogspot.com/2007/12/convoluted-mortgage-fraud-theories.html
A number of people have all emailed me with a sensational but preposterous "Mortgage Meltdown" article by Sean Olender about the interest rate freeze.
Yes there is "fraud everywhere" as the article suggests, and yes the freeze "has nothing to do with keeping people in their homes", and yes, "The problem isn't just subprime loans", and yes a "mortgage meltdown" is in process.
But the rest of the article is complete nonsense.
Mish
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