Speculators always cave in quickly in a declining market, especially when they weren't required to make a down payment and the rents were never realistic. This, we always knew. It does not constitute a "sea change" in borrower behavior, whatever the hoocoodanode crowd wants you to believe.
2008 July 8, sidd, “lack of information accuracy”, alt.folklore.computers,
In the immortal word of somebody, their defense seems to be "Hoocoodanode?" / to which i reply / "Ushouldanode!" / Thats their goddamn job.
Rather than look at themselves and take responsibility for their own failure to hightlight upcoming disaster, we get a half-hearted search that results in shrugged shoulders and the exclamation, "hoocoodanode?!" (For those having trouble sounding it out: "who coulda knowed?")