Quote:
Originally Posted by Gunni
shouldn't the bank take some responsibility for lending them money they must have known 100% they couldn't pay?
|
They have. To the tune of $232 Billion in subprime losses SO FAR.
The CEO's of CityBank, Merrill Lynch, H&R Block and Germany's Landesbank Sachsen have resigned. The co-President of Morgan Stanley resigned. I'm sure there are more. Banks, investment firms and mortgage companies are taking severe losses.
The banks, their officers and their shareholders are getting their asses handed to them.