> -----Original Message-----
> From: johnwallace4@yahoo.co.uk [mailto:johnwallace4@yahoo.co.uk]
> Sent: Saturday, October 04, 2008 5:55 AM
> To: Info-VAX@Mvb.Saic.Com
> Subject: Re: OT: USA the fleecing of USA banks by Wall Street
>
> On Oct 3, 10:05 pm, "Dan Allen" wrote:
> > > -----Original Message-----

> "home buyers who are being aggresively courted with offers of
> incredibly sweet deals"
>
> Did the US fall for the "endowment mortgage" big lie in the
> same way the UK did?
>


No. The current mortgage mess is centered around "traditional" home mortgages.
The "sweetness" I spoke of was things like excessive loan to value (as high as
125%), no down payments, Adjustable Rate Mortgages (ARM's), mortgage loans 3X+
borower's income, etc.