Re: Why bailing out housing market is a very bad idea
Greed did fuel a lot of it and I would say that there are Ea's and developers who would say now that the 15 year boom has worked well for them. I would think a lot of people thought make hay while the sun shines and its hard to argue with that. The banks on the other hand had more reason to look long term.
They were all bitten by the same desire for a quick buck without considering the longer term implications to their business - greed and stupidity!
Greed did fuel a lot of it and I would say that there are Ea's and developers who would say now that the 15 year boom has worked well for them. I would think a lot of people thought make hay while the sun shines and its hard to argue with that. The banks on the other hand had more reason to look long term.