Wednesday, September 24, 2008

The Usual Suspects

It is unacceptable to allow the financial giants to continuously come up with schemes to make millions and quite possibly trillions of dollars and then sneak out the back doors with their pockets stuffed with cash leaving the rest of us to pick up the pieces. These geniuses, after playing CEO musical chairs, are probably already working on their next billion dollar plan.

Where is the accountability? While some of the blame rests in the hands of the loan seekers most of it lies in the hands of the financial institutions who packaged up convenient little loans in pretty ribbons by pushy salespeople trying to meet a quota. They specialized in assuring the subprime borrower they could refinance once the arm kicked in. Don't be fooled. Those pushy sales folks were motivated by money and that trail can be followed all the way to the top. The next guy packed up all those risky little loans in pretty packages and sold them to the next guy who sold them to the next guy. So the one holding the pretty package at the end finds out that what's inside is actually a bomb thats ready to explode. Unfortunately the only keyholders are the feds who can write blank checks with our tax dollars.

When do we decide it is unacceptable for these companies to "privatize profit while socializing losses"? We should be mad! Pun intended.


bmax said...

you so rite. weese in this mess kuz the feds dont no. i gots to getme a fannie loan if you know i mean.

bmax said...

Just kidding. It is actually an embarassasment to our country and what we stand for(at least what my grandfathers fought for). There are many USA Patriots rolling in their graves at how selfish these criminals/magicians/aka...CEO have been. These are the same people that both of our fearless leaders to be are in circles with, one way ar another. They not only need to be held accountable for what they have done, but should have to pay all the profit they made back, plus interest. Funny how if I default on a loan, ley still hawk every move and get their money one way, yet if I sneak out the back door.......big brother is there(and I only have one sibling that is a female if you know what I mean). How can they be Pardoned if you will, from the disaster they have caused? This is unexeptable!!!!!!!!!! I will leave you in the parting words that these mortgage companies have told me 5 times since Oct. 2007.....No thanks, we would rather the home you want to by to go into foreclosure.?!?!?!?!?!?!?!?