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?