Tuesday, October 21, 2008


I do enjoy being silly. Most of the time. But sometimes I really wonder how we can keep smiling when things just seem to get tougher on us. These are some of the questions that come to mind.

I must note that I am just as guilty of the posted sins as anyone else

Sitting and looking at the whole Credit Crunch Fiasco, I can't help but think. There were a lot of people who sought to benefit from the underhanded practices that took place in the credit markets the last few years. Admittedly, there was a lot of sleight-of-hand and misrepresentations, but it just makes me remember the adage, "If something seems too good to be true..." My question is, could every single person who got into these situations, particularly in real estate have been completely unaware of the loaded guns they were picking up when they agreed to sub-prime mortgages?

I think of all the product recalls from a year ago, and how the most recent one once again involved Chinese products (http://www.dailymail.co.uk/news/worldnews/article-1063950/Cadbury-recall-chocolate-China-fears-contain-contaminated-milk.html). I just wonder how all the companies that repeatedly violate consumer safety practices in this country remain in business in this country. Will we really tolerate anything to save a buck?

And speaking of bucks...Alan Fishman lost WaMu. He was CEO for 18 days and stands to make over $13 million. Stan O'Neal was at the helm at Merrill Lynch when that firm went by the wayside because of bad investment decisions in the sub-prime lending fiasco. He walked away with nearly $160 million. And the guy in charge of Lehman brothers could possibly net $240 million for his troubles. Are we really going to allow these guys to profit so handsomely from their disastrous leadership? Shouldn't we be screaming to our Congressmen or other lawmakers to see what can be done? If not, why not?

And to finish spitting up here today, I just want to know if anyone can't point out the moment in time when elections became a matter of choosing who lies the least?

What's happened to us?


  1. Amen brother! I so believe in the quote, "If it sounds to good to be true, it is" More of us need to start living by that rule. I think those executives that are walking away with that money need to be made to give that money to the goverment to pay back the bailout! Hope you have a good day!

  2. I have 1 credit card. I seldom use it. I don't like to pay more for what I am already paying too much for.

    Thats just me though.

  3. I heard today that the lowered oil prices will hault the search for more efficent energy sources. I thought maybe we could move forward despite the mess. Sigh!

  4. The $700B package does have requirements to limit CEO pay, but there is nothing you can do going backwards, they are contracts that have legal hooks.

    The important thing is to look after your own house, and buy what you can to help your local economy, and realize that this to shall pass.

  5. it is...not sure what word i want to put here but maybe an expletive...it's like the world almost sucks anymore. can't trust politicians nor CEOs anymore. too much corruption. your points are well taken...hugz~kbear

  6. I have to say that I am not a big fan of CEO's these days. They sell out society to make a buck. I know I'm never this cynical about everything but this is what I see and the facts bear me out. Hope you are doing well JP. Luv ya! Don't be such a stranger!

  7. I don't trust the politicians to 'fix' this mess, because they're the ones that caused it in the first place. The folks in charge of Fanny and Freddy need to be fired; but you'll never see that happen.

    Our choices for president seem to be 'dumb' and 'dumber'. It's a scary thought.

    See what you do to me lippy? You get me all riled up ;-)

  8. Seriously. The choices are bad and worse and it's hard to tell which is which on any given day. The CEOs of these companies are going to get theirs someday. I think there's a nice, toasty place awaiting many a corporate boss, lawyer, and politician.

  9. I don't know the answers to all these messes, but in our family we live within our means; we use a credit card for convenience only and pay the balance in full every month; and we pay extra on our mortgage each month in an effort to save on interest and get out of debt as soon as possible.

    We are pretty boring, but we have peace of mind. :)

  10. Jimmy let's hope who ever can get us out of this Credit Crunch do so quickly ~ although I doubt the polititions will be of much help to us all ~ they appear to be out to help themselves ~ nothing changes there ~ Ally x

  11. hey stranger... great entry.. makes you wonder.. what DID happen to us... have we all come 'fat' and 'comfy' in some sick way?

  12. The whole thing is enough to give you ulcers. It isn't going to get better soon and will probably get much worse first. Personally...I am not spending and am saving it for the bad days ahead.


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