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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (167696)	4/29/2014 4:20:33 PM
From: FJB	1 Recommendation Recommended By TideGlider Respond to of 224755

A close friend worked at the epicenter. He was doing subprime loans for Bears Stearns. We were driving one day and he was doing business, which consisted of taking calls from brokers seeking mortgages. He would just quote them a rate after hearing the credit histories. So after hearing three calls in which people had gone through bankruptcies, I told him "this is all going to crash, you know that, right?" Yes of course, he said. He was just trying to earn a paycheck. It did not seem remotely ethical at the time. Lending people money when you knew they could not pay it back. It still bothers me to this day that everyone knew they were engaged in a sham, but their was a whole industry based around it, so they felt it was OK to do it. My girlfriend at the time was doing title closings and earning $120k a year. She was just dumb enough to think that would be the minimum she would earn for another decade. She is about to go through bankruptcy herself now, seven years after the crash. If enough people are engaged in a scam or unethical behavior, they will justify their behavior by saying everyone is doing it. That is exactly what the Democrat party and our Federal government is like.