I'm sitting home watching Law & Order: Special Victims Unit (SVU) on the USA channel on my DirectTV satellite, when a commercial for "Lend America" comes on.
It's one of those cheezy-looking faux "news reports" that describes how LendAmerica has millions of dollars to lend, offers FHA loans, will finance up to 97.75% of a home's value and boasts "No minimum credit score required."
HMMMMM. Isn't that EXACTLY how we got into the financial mess we're in right now?
It seems to me, they're at it again! If I hadn't seen this commercial with my own eyes, I wouldn't have believed this was possible. The exact same banking types are undertaking the exact same lending practices that wrecked the world's economy!
The ink on various banks failure paperwork isn't even dry yet and these banker types are off to the races again.
Most irritating: who will be on the hook for this next round of bad loans? YOU AND ME because the loans are FHA. You know, Fannie Mae and Freddie Mac!
Clearly it is going to take sudden, dramatic and irreversible vigilante action to send a chill to the banking system to make them change their ways. In my opinion, anything short of killing some of these Banker bastards to make examples out of them, simply isn't going to work.