Perfect Storm of greedy home flippers and Joe Sixpack hoping to get rich quick by getting equity out of thin air, and bankers paid by the deal. Couple this with a backdrop of politically correct politicians passing laws that make it almost illegal to not give any deadbeat a mortgage, job or no job with a FICO score as low as their IQ. LOOK where it got us. And yet we probably have learned nothing from it.
Saturday, July 23, 2011
GREED IS NOT GOOD
Perfect Storm of greedy home flippers and Joe Sixpack hoping to get rich quick by getting equity out of thin air, and bankers paid by the deal. Couple this with a backdrop of politically correct politicians passing laws that make it almost illegal to not give any deadbeat a mortgage, job or no job with a FICO score as low as their IQ. LOOK where it got us. And yet we probably have learned nothing from it.
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Easy come easy go. When someone craps in a public pool the pool immediately closes for clean-up. In today's legal/political/social system, when spend years deciding if its really crap, and not pointing the finger at the kid in the corner with the stain on his pants. All the while the pool remains open and we are all forced to swim in it.
ReplyDeleteNow that's a metaphor I can sink my teeth into.
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