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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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<blockquote data-quote="Thomas Rogers" data-source="post: 963124" data-attributes="member: 60724"><p>Hugh said: </p><p></p><p></p><p></p><p>And that brings up another point of contention.</p><p></p><p></p><p></p><p>Yes, I agree that the future will likely hold some sub-prime mortgages given to peoples in some of these areas. That is a belief, not a fact. It may come to pass as a factual event.</p><p></p><p></p><p></p><p>What I don't think anyone will be able to prove as a conclusive "fact" is whether or not those future sub-prime mortgages granted will have been granted due to the fact that there was some pressure by these agencies.</p><p></p><p></p><p></p><p>It is much like rate of cancer statistics. I think most would agree that smoking has been shown to cause cancer. However, do we know for a given case of lung cancer within a smoker that it was "in fact" smoking that caused the cancer? Answer: we do not. We have a confidence in the cause, but we don't know it for a fact.</p><p></p><p></p><p></p><p>All that we have that is factual are statistic that show an increased rate of cancer for certain conditions (smokers, those exposed to asbestos, whatever). This increased rate of occurrence equates to what most agree is an increased liklihood for those exposed to the agent, condition, etc. Still, that is an "increased liklihood", which is not a fact either.</p><p></p><p></p><p></p><p>So, if we see more sub-prime loans granted on-average during a quarter, or a year (or whatever) in areas where these agencies looked into lending practices then there may be a "likely" correllation. Then again, maybe other factors caused the increase in loans given (availability of credit, freeing up of the ability to resell sub-prime loans, etc).</p><p></p><p></p><p></p><p>Again, I'm not saying more sub-prime loans won't be granted, or an increased number won't be granted. I'm just saying it is very difficult to "factually" determine the root cause (or causes) if those things happen. But, we can believe, or infer such causes...but then we are back to areas that aren't really facts.</p><p></p><p></p><p></p><p>TJR</p></blockquote><p></p>
[QUOTE="Thomas Rogers, post: 963124, member: 60724"] Hugh said: And that brings up another point of contention. Yes, I agree that the future will likely hold some sub-prime mortgages given to peoples in some of these areas. That is a belief, not a fact. It may come to pass as a factual event. What I don't think anyone will be able to prove as a conclusive "fact" is whether or not those future sub-prime mortgages granted will have been granted due to the fact that there was some pressure by these agencies. It is much like rate of cancer statistics. I think most would agree that smoking has been shown to cause cancer. However, do we know for a given case of lung cancer within a smoker that it was "in fact" smoking that caused the cancer? Answer: we do not. We have a confidence in the cause, but we don't know it for a fact. All that we have that is factual are statistic that show an increased rate of cancer for certain conditions (smokers, those exposed to asbestos, whatever). This increased rate of occurrence equates to what most agree is an increased liklihood for those exposed to the agent, condition, etc. Still, that is an "increased liklihood", which is not a fact either. So, if we see more sub-prime loans granted on-average during a quarter, or a year (or whatever) in areas where these agencies looked into lending practices then there may be a "likely" correllation. Then again, maybe other factors caused the increase in loans given (availability of credit, freeing up of the ability to resell sub-prime loans, etc). Again, I'm not saying more sub-prime loans won't be granted, or an increased number won't be granted. I'm just saying it is very difficult to "factually" determine the root cause (or causes) if those things happen. But, we can believe, or infer such causes...but then we are back to areas that aren't really facts. TJR [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Obama admin pushing banks to offer sub-prime mortgages again...
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