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April 26, 2012


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I think it's very important to do reeacrsh on the company especially when it comes to contacting support. I can think of a customer experience that was shared with me about Samsung TVs. The LCD TV series had a recall on them but the person who shared the story with me did not know that. He paid a few hundred dollars to get it repaired and on my advice fought for his money back. If reeacrsh had been done prior to this, he would have known about the widely publicized capacitor problem,. He would have saved himself the hassle of multiple calls to support and shelling out money unnecessarily. Thanks for the question!

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That is really an evidence that it is important to investigate on a company before you deal with it. The experience of other customers should be taken into consideration.


He left out a few layers in the crsiis:Internet banking allowed banks to offer high rates for deposits easily to large audiences, forcing even formerly-conservative banks to offer such rates or perish. Such rates of return were only available safely and liquidly if they invested in the MBSs.Local agents for all mortgage services (e.g., inspections, appraisals, etc.) were none-too-subtly apprised that their services were only being requested if they could deliver a suitable product. The businesses, often single-proprietors, were so overworked that actual due diligence was nearly impossible, even if they were not bought and paid for. Even respectable agents were brought into the fold by the self-sustaining belief that their services were truthful (as long as the prices of houses continued to go up).Homebuilders, riding the wave, way overproduced housing beyond what the actual eventual economy could sustain, thus the lack of current demand for housing at any price.Homeowners, living beyond their current means (but knowing that things would keep going up, as they always had), borrowed from their homes (which artificially propped up the economy and pushed the refinance boom concurrent with the mortgage origination boom).Et cetera, et cetera, et cetera. Way too many ripples to cite in one post.NONE of which was caused by any fictitious Fanny Mae or Freddie Mac requirement that banks lend money to unqualified, poor borrowers.


Barry Ritholz is a well respected guy that not enguoh people listen to, probably because as a commenter upstream put it, he puts together concepts and words beyond the attention span of the average wingnut. I was dismayed by some of the comments to his article, some rightard claiming no, it was the democrats and fannie mae and freddie mac that caused the problem the Big Lie personified.But here again, the fact that the Big Lie exists at all is the failure of the Democrats especially Barack Obama to explain to the country what happened. I happened to pass by an LA Times news stand, the lead article saying (in a nutshell) that Obama has more campaign cash by far than any of his rivals. Gee, I wonder where it all came from?

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