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Why I didn't invest in subprime mortgages
Something in me resists the idea of big profits, windfalls, bonanzas. In my field there are no great leaps -- it's one sentence at a time.
By Garrison Keillor [2007-11-21]

  • The greedy investors made it happen

    Everyone is guilty in this mess. The lenders who through out the rules about what good lending is. The investors who got greedy and wanted more. The realtors who oversold the market and fueled the ponzy scheme by inflating prices. The government for not enforcing the rules on fair lending and disclosures. The media for riding the tide of false market promises. And finally, the borrowers who wanted a home so much, who wanted a piece of wealth, who believed the machine that was aimed at them, aimed to take away their feeble earnings.

    I am sure, that Lance was in some way part of the S&L crisis of the 90's. These low life forms, re invented themselves and brought us another disaster. They disregarded all the rules and the snake oil salesmen, the boom and bust merchants, took us down the path of gluttony one more time. Be careful, he will pop up somewhere else and shake the hands of Democratic and Republican Congressmen at Rotary club meetings and still be considered and upstanding American.

    At least the mafia had the culture to give us some great movies and tv shows, these guys are just a bunch of criminals of the lowest form. Now they working to figure out how to make money from the carcass that is left.

    Thanks for the 29 years of cosnervative economic policies? Has anything wokred?

    -- Stellaa
    [Read Stellaa's other letters]
    Wednesday, November 21, 2007 08:30 AM
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