hunter

Citi in Talks With Wachovia as $700B Bailout Plan Moves Forward

Yes Golden West is the culprit. But those loans would have gone bad no matter who owned the Co. If Golden West were still a company on its own the bad mtg loans would still be bad. The Govt is the number one contributor to all these mtg loans going bad by making financial institutions make 100% LTV loans under the CRA(community reinvestment act). It doesnt matter whether its Golden West, Wachovia, or any number of mtg lenders. The Govt wanted these people in these homes and threw out sound lending practices to force financial instutions to make them.