I would like to thank all you folks who now in your small little way helped plung the world into financial chaos and will probably put the US into a recession.
A salute to the real men/women of genius.
1. The 20-something BMW-owning mortgage brokers working in the boilerroom of New Century Mortgage, and countless other subprime outfits.
2. The ratings agencies..S&P, Moody’s, Fitch, etc. Who collected huge fees while looking the other way and mis-rating mortgage and derivative securities.
3. Appraisers who buckled under pressure to “hit” the number.
4. Dishonest homeowners who fudged their income, job status, etc. “Hey everybody is doing it!”
The list is too long…..I can go on with 10 more..Real estate agents, Govt and failure of regulation, etc…
