Wednesday, February 03, 2010

In response to recent news that homeowners were coolly walking away from their 'underwater' homes, a wall street economist said recently that borrowers were not victims - they “signed contracts, and as adults should also be held accountable”. My response is simple: Give us a single instance where an 'adult' was punished for the reckless financial practices promoted on Wall Street... Keep walking away - may your ilk increase!!! ... Other ironies of the day include the news that AIG will distribute about $100 million in bonuses today to "adults" working at its financial products unit, which traded in the derivatives that imploded in September 2008, leading to the biggest government bailout ($182 BILLION) in history. The gravy train on the casino never amazes me – there is also news that the CEO of Goldman Sachs will receive $100 million in bonuses.

No comments: