Wednesday, September 05, 2007

What a hoot..........

The meeting today between the nations CEO's of some big home builders and the Fed Chairman had to be a real hoot.........imagine these wealthy CEO's who enriched themselves on very loose and predatory lending practices going before the Fed Chair pleading their case. The hundreds of millions in stock options in rising markets salted away by this crowd with earnings being pumped up with home buyers who didn't even come close to having the financial means to be in a new house is a real statement of capitalism.

Where was the SEC? Where was any regulation in the mortgage market?

And Mr. Bush wants American taxpayers to keep these guys in business?

The concept of personal responsibility seems to have vanished like the passenger pigeon.

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