Subprime blame game
As I pointed out in an earlier post, The Blame Game , the finger pointing is about to begin.
The finger pointing has started early and promises to become even more entertaining.
The entertaining part is the fact that no one really wants to own up to their part in this mess. Like children we will point at the next guy and say he did it. On either side of the transaction however, each party has an obligation to be aware. Claiming to be coaxed down the road to ruin by someone else just won’t wash.
And to the government: A bailout of anyone in this chain reaction cluster f@ck is bad parenting. Let us learn from our mistakes. That goes for bankers too, of all the parties involved they should have known better.
That’s my rant, Vern
This from CNN Money Subprime Blame Game
The finger pointing has started early and promises to become even more entertaining.
The entertaining part is the fact that no one really wants to own up to their part in this mess. Like children we will point at the next guy and say he did it. On either side of the transaction however, each party has an obligation to be aware. Claiming to be coaxed down the road to ruin by someone else just won’t wash.
And to the government: A bailout of anyone in this chain reaction cluster f@ck is bad parenting. Let us learn from our mistakes. That goes for bankers too, of all the parties involved they should have known better.
That’s my rant, Vern
This from CNN Money Subprime Blame Game
Some 2.4 million homeowners are in danger of losing their homes, many because of bad subprime loans. Critics are pointing their fingers at who is responsible - here are the main targets.
posted by Vern Wichers at 10:59 AM
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The Neighborhood Economic Development and Advocacy Project provides maps (pdf) that illustrate this extreme paucity of bank branches in minority. Revealing the financial geography of New York City, these images convey the operation of racial oppression. The wholesale rejection of minority communities by full-service banks indicates their invisibility to the financial establishment. In our capitalist society, credit has served since the outset as an indicator of civic responsibility and moral worth. continue reading at http://radicalnegative.blogspot.com/2007/11/no-banks-for-blacks-and-hispanics.html
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