Doggett on Foreclosures-“Well, the market didn’t really work, did it?”

Quote of the Day-

“Well, the market didn’t really work, did it? And why should we be so wedded to it now? If we can back up a little, are we going to blame this whole mess on a guy who lied on his loan application? Really? Have you all been duped that much that you are going to continue to write that story, that that is what this is all about? That Wall Street didn’t invent mortgage-backed securities?

“This stuff didn’t just happen overnight. The guy who lied on his loan app didn’t just get born these last four years. This thing was created by Wall Street and aided by the players. Everyone had their hand in it. The Realtor, and no offense to Mr. White, but the profession, what is their answer — sell, sell, sell! Absolutely. That’s what they want. That puts more money in their pockets.”

Robert W. Doggett, Texas RioGrande Legal Aid at National Association of Real Estate Editors’ annual journalism conference (Foreclosure Buzz)

1 Comment

  1. Robert Doggett to real estate industry,,, the emperor has no clothes, and neither does the press that covers (panders) to the emperor.

    I’m sure that was received well at their conference.

    I admire Doggett’s nerve.

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