Amazing the level of surprise these corporations express when the retreats, as they call them, are exposed.
The very idea that mortgage writers are the recipients of this "retreat" is appalling. Mortgage writers are the very people who allowed loans that were, by industry standards alone, doomed to fail. They pocketed the fees and the points and went on to write mortgages another day.
Now, their oblivion continues as they "retreat" at taxpayer's expense. Those of us not part of this game in the first place are really not surprised. It was obvious three or more years ago that the banking and mortgage "house of cards" would fall - and fall it has.
We are forced to hand over tax dollars - to the deficit of programs that may make a real difference in our lives - to bolster the bottom line and the egos of those proven incapable of making solid business and financial decisions.
Greed is still King....
There is no penalty - and there are no "lessons learned"....
About Me - the dog...
- CoCo
- I like to keep a little mystery about myself but I am a mix of Black Lab, German Shepherd, and Pit Bull. I come up with insightful things to say and my human types them for me. I am more well-traveled than many humans and I know what pets like to do and where they like to stay.
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