Leave it to Cramer the Stock Market Moron to support it.
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Wait a minute Wall Street greed and companies big to fail the real cause of the mortgage crisis?
He makes me sick hope the Obama administration can see through this Nike Air Max 95 Black Ebay
Cramer dismissed this part of the question because I sure he has no problem putting 100,000 of workers on the street if this side of the industry were to die. His flippant answer was not to worry about mega banks taking the entire mortgage market for themselves.
But now that the subprime gravy train is over, and his friends can only find work at Bank of America or Citigroup the mortgage brokers, the non depository Air Max 98 X Supreme Release Date lenders, and the warehouse lending that makes it all happen.
The mortgage brokers did what they were asked to do yes, Wall Street paid them handsomely.
Everyone this week is talking about the feud between The Daily Show Jon Stewart and CNBC Money moron, Jim Cramer. It pretty clear by the moniker, I am not a fan of Jim Cramer. Even before I heard his ridiculous answer to a caller this week calling for the demise of warehouse lenders and the entire channel of mortgage originations they deliver.
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He was asked a question about the demise of the mortgage broker side of mortgage originations by a caller who right included in his question the worry of competition to the big banks if these warehouse lines, mortgage wholesalers, and mortgage brokers disappear.
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At at time when this country needs as many people buying and financing houses as it can find, killing off the most productive side of the mortgage industry is just plain stupid.
As Jon Stewart so perfectly put it with a unbelieving, sarcastic, question put to Cramer on his show while interviewing him, didn know about 35 1 leveraging? course he knew he didn report on it because it made all of his friends to much money.
and make warehouse lending easier so this side of the industry that does in fact foster competition and better price for consumers can survive.
Calls For The Destruction of Mortgage Brokers
paid themselves. And let not forget if Wall Street had not created the evil monster of subprime loans, there would have been nothing for mortgage brokers to sell.
The truth is Cramer is still trying to deflect the cause of the crisis on to anyone other than himself and his pals and obfuscate the real culprits and Wall Street securitizers.
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So for Jim Cramer to come out this week, and say, and I paraphrasing here; lending that supports non depositor wholesale lenders who get there loans from the mortgage brokers is bad business. It time to do away with that business model disingenuous at best.
But not near as handsomely as they Air Max Mid Cut
Then came the meltdown were blamed for everything from the subprime meltdown to the foreclosure crisis. Wrongly, I might add. It was Wall Street who designed, securitized, and got ratings for subprime mortgage derivatives then begged for mortgage brokers through wholesale lenders to provide them with the loans.
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Now I have discussed on BiggerPockets a number of times how the big banks hate mortgage brokers and would love to gain back the huge portion of mortgage market share they lost over that 20 years oh, how they tried. Mortgage brokers are a tenacious bunch and most of the banks underhanded attempts have failed.
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