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September 01, 2007

Comments

appraiserbill

hey Reg, there are a lot of appraisers who did not chose to participate in the real estate run-up. You don't know how many times it was pointed out to lenders (all) that a particular sale, or sales program (read speculative) simply did not add up. Especially those of us who have the scars from the S&L fiasco.

Bill Brown

Spot-on analysis. Housing is an unfolding calamity. We will all pay the price of Greenspan's and Bernacke's "Easy Money Days" for years, and years to come.

Reggie

@appraiserbill:
Yeah, I know that there were some appraisers that did not go along with the game. Those were the ones that lost business to the one's that did. You upright guys look pretty good now. Some should be careful, after congress finishes grilling the rating agencies for their role in the CDO mess, the appraising agency just might be next. Congress will be unusually aggressive, after all, it's voting season.

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