Bad economy

oh and as a side note: Massachusetts is suffering far less in this downturn than any other state in the country... (so far, knock on wood) even with this system in place, the most expensive urban project ever (the big dig), etc.

just sayin. The taxes here can suck sometimes but it still is cheaper than NY, CA, etc.
 
that articale states:

Was AIG dumb? Yes. Did they understand the risks they were taking? No.
Click to expand...

I find it hard to believe AIG didn't know that the loans that they were buying in bundles were from lenders that made No job no credit loans (toxic loans)

did they understand the risks they were taking? I would say yes. Did they care, and were they motivated by greed knowing many if not most of these loans would go into default? I would say no they didn't care and yes greed fueled this. The reason? they would be able to get far larger sums from the original borrowers, because they would take longer than originally thought and AIG would rake in the profit from people under mountains of interest. They would rake in money when they had to refinance or remortgage their homes. I think this is far greater a possibility.

When people are buying packs of gum with credit cards in this country we all should take a step back and see that we (as a country) have been spending money we just don't have for so long and all to merely keep up with the Jones'
 
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