Showing posts with label underwater homes. Show all posts
Showing posts with label underwater homes. Show all posts
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.
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