Monday, March 02, 2009

Masson’s Blog on Rick Santelli’s Rant

Yeah, it sounded good on television but I had to choke a bit. The best criticism I have seen is this from Masson’s Blog, Rick Santelli’s Rant:
"The moral hazard of a homeowner paying a fixed rate mortgage instead of an adjustable rate mortgage just isn’t that worrying to me after reading about how loan originators were able to remove themselves from any real risk for the mortgages they arranged. I could have missed it, but I am not aware of public statements by Santelli about the moral hazard of bank bailouts."

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