Quote:
Originally Posted by ajmccarrell
ALL of the banks haven't collapsed yet. Bank of America and hundreds of other banks are still doing just fine. Besides, when comething collapses, someone is always willing to make money off of picking up the pieces.
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And which banks would those be. If we allow even 2% of the larger banks to fail, there will be a run on all banks and then the govt. will take years to pay out the FDIC insurance, if they can pay it at all. Then, of the remaining banks, I doubt many people would qualify for a mortgage under the what I am sure can be described, at the least, as more stringent requirements, like 20% down and assuming the applicant was not detrimentally affected by the failing of almost all the banks.