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.