Friday, March 27, 2009
Look back in anger
I had forgotten how deluded people were during the boom. Look back in anger at how we talked up the housing market and created the greatest banking crisis in history.
I feel so sorry for Carla, a first time buyer, who thought she might have borrowed too much to finance a crappy flat.
Check out the financial advisor; the bubble facilitator who recommended that professionals "take out an interest only loan for a few years".
It is not hard to see how we got here.
According to the "soot and ashes" blog, this newsclip is from 2006.