The Ongoing Impact of the Housing Sector
John Mauldin is away this week, and so I contributed to his Outside The Box series in a post called "The Ongoing Impact of the Housing Sector."
The fun part of writing that was assigning blame for all of the problems in the credit market. As it turns out, only a few people are actually responsible:
* Federal Reserve (FOMC)
* Borrowers
* Mortgage brokers
* Appraisers
* Federal Government
* Fannie Mae
* Lending banks
* Wall Street firms
* CDO Managers
* Credit agencies
* Hedge funds
* Institutional Investors (pensions, insurance firms, banks, etc.)
* And back to regulatory role of the Federal Reserve
Other than those few groups, I don't know who else desrves the blame . . . ; )
Tuesday, August 28, 2007 | 11:45 AM | Permalink
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Comments
I saw Barbara Corcoran who used to run a realty company and she was blaming the media. It seems there wouldnt be a real estate problem if the media wasnt reporting it.
Posted by: GerryL | Aug 28, 2007 12:04:19 PM
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