Watch This Video -- If You Have the Courage
Hate say 'told you so' but i did. Who gets bailed out? The Wall Street gang who got America into this mess. The same people who gave F & F enough rope to hang. The BIG Boys get corporate welfare. Not ordinary Americans who got suckered into buying stocks.
Excellent summation. I have said in the past that as long as the bankers(lenders) and appraisers could keep up the delusion of rising property values, it was a no risk scheme.
Till the music stopped.
And now the music is over. The fat lady done sang her heart out. And instead of there being only one fewer chair in the game, there’s only one or two chairs left.
And while there are many here who blame the “greedy borrowers” who wanted more house than they could afford, in truth the banks and lenders were the professionals who had the licenses and responsibilities to do due diligence.
Mr. and Mrs. Joe6P who wanted a little bigger house because she had one in the oven does not even come close to the magnitude and scale of tens of thousands of loans, maybe hundreds of thousands, made by the “professionals” when they KNEW it could not go on forever.
I am waiting for the board to sue Merrill's golden boy Stan O'Neil. He pocketed $250 million on his way out the door after destroying the firm.
When the revolution starts the first people shot should be the CEOs and investment bankers who orchestrated this mess as well as those in the government who enabled them.