Posted by Hal on 11/21/2008, 10:17 am, in reply to "Re: In addition..."
70.130.61.139
Some time has passed and people are still trying to sort out what has and is still happening. I haven't been hearing much about minority loans lately. I doubt that it was anymore than a minor factor. Any loans made to an entity that could barely afford to pay the loan back in good times has been a factor of some degree though. I think that the high price of oil was a bigger factor than others have been saying but more as a precipitating factor than causal factor.
Lately I have heard some saying that high executive bonuses have been a factor because they encourage high risk and detract from long term corporate interests. Why think about long term profitability for others when a person can make enough money for one's own lifetime in one year by wrecking the company and leaving others to pick up the pieces? I saw that to a corporation that I worked for. It took him more than a year to destroy the business though.
Hal
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