Quote:
Originally Posted by Republicaninmass
Issue is pwcc allowed shilling to pump these prices up so high even 50% of today's ltv will leave THEM holding the bag.
Its almost self fufilling they lose everything and receive pennies on the dollar after the forced sales on bad loans..
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Peter, Nic, Ryan, all excellent points, agree with everyone. If that video is even partially true, that is not a great sign for what may be happening. And Matthew, I think your point was maybe best of all. LOL
And Ted, if what you're suggesting is even partially true, that would demonstrate a level of business stupidity that is not seen very often. I had heard that 40% number before in regard to how much was supposedly going to be loaned against a card's value. But if in some cases it was actually going as high as 100% loan-to-value, that is pure insanity from a business aspect. And is especially and even more so if as you're suggesting, there may have been shilling activities involved in the realization of some of these card values used to then determine and set how much would be loaned. For a potential lender to be a party to assist in the setting of such false, overstated values, to me that would be like playing a business version of Russian roulette. From a business standpoint, you're just asking for it IMO. Should be reeaaallly interesting to see where this may end up leading to.