A lot of them do, more so now than in the recent pass

A lot of people who know nothing about banks seem to have a lot of opinions about banks.

Politicians are scum and banks are scum.

Don't you know that?

The film "the big short" is well worth watching for anyone that has not seen it yet, noting history repeats itself (again and again).

Which part of Big Short is repeating exactly

I like the Margot Robbie part. Which one do you like?

This post was edited by Malopox on Mar 27 2023 07:32am

are mortgages still be repackaged as "safe" bonds and being sold on the open market?

Trash mortgages are not being sold as safe investments to nearly the degree they were before 2008. We have actual income verification requirements now whereas before you could literally get multiple loans on no income.

Banks are not risk adverse, they accept the degree of risk that they are willing to take. History repeats itself where the lessons of the past are ignored and the banks fail again. the "Boom" scene in margin call springs to mind

and yes

the Margot Robbie part, naturally

verifying income is a good check, but at the end of the day i still fear we're giving too many loans with adjustable rates to too many people who shouldnt be buying homes in the price range they are. eventually it's going to topple even if not to 2008 levels, and even if the real issue isn't the bond market crashing like it did but just a high default rate once the market starts to slide.

everyone i know who has bought a house in the last 10 years was income checked and credit checked and approved for a loan about 2x what they should be. most were smart but apply that on a macro scale and its not gonna be fun.