And the lenders will tell you they were powerless, they were puppets of Wall Street, they had neither choice nor free will … I mean, for God’s sake, Bear Stearns, Goldman Sachs, Morgan Stanley and Citigroup waved MONEY in front of their faces and told them that real estate only goes up!
This is moral hazard in action … a small number of highly visible people abandon all sense of reality and personal / financial responsibility, with neither social nor financial consequences when things go bad. Seriously, look at Casey. He got to play Richie Rich with other people’s money, then got tons of attention when things went bad, which is even better than money to a hard-core narcissist. And now he’s talking about a book deal? WTF?
