Article: Common Sense In Lending
Author: Anonymous
This piece appeared in the New York Times online on March 7 2009. The author of this article is attempting to convince readers that just by fixing the mortgage crisis right now will not prevent it from happening in the future. He is concerned that as time goes on and the current crisis has been averted and forgotten the same faults that caused it would resurface and cause a new crisis. He argues that congress needs to act to prevent these practices from resurfacing. He cites that congress has been receiving this very same statement from Patricia McCoy. By citing Mrs. McCoy’s, a law professor from the University of Connecticut, statement, the author is lending credibility to his own statement. The author also appeals to logos and ethos by confronting those who say that it is the borrower’s fault. He appeals to logos by citing a few of the predatory tactics used by lenders. He appeals to ethos because many of his readers are those that suffered at those tactics. Lastly he cites that there are already people doing what he suggests, and that it is working. He then urges congress to act the same way. All in all, his argument is very concise, clear, and direct.
Eduardo,
ReplyDeleteMost interesting with very complex current event subject matter. thanks.
Anne H.
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ReplyDeleteI like what you wrote, very detailed. I do think the DRE should of played an more proactive part on the loans the Brokers were sigining. The MI compainies are not paying claims on some loans due to fraud in the loans that were signed.(long story there) Most brokers took advantage of the Hispanic community due to the lack of english, knowledge, and education. Yes consumers should be aware of what they are siging, so many are talked into the dream of homeownership.
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