I'm angry and you should be too.
Irrational exuberance -- also known as greed and wanting more, more, more -- got this country to where it is today. In turn, greed has kicked off a global recession that is only getting worse. People are losing their jobs, students are finding it harder to get the loans they need to stay in school, and responsible would-be homeowners who did the right thing and held off on buying a house until they could afford it are now hard-pressed to get a loan.
It was all built on greed. Greed, that sandcastle with a smile and no solid base. Greed, the sugar high that made strawberry pickers think they could afford a three-quarters-of-a-million-dollar house, and the toxin that led lenders to slip them the money to buy it.
Greed and stupidity. Interest-only loans. Stated-income loans. Forty-year loans.
What the fuck were we thinking?
What are we to do now?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment