Home › Forums › Financial Markets/Economics › My Personal Credit Crisis
- This topic has 415 replies, 38 voices, and was last updated 16 years, 6 months ago by
Allan from Fallbrook.
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May 14, 2009 at 6:50 PM #399807May 14, 2009 at 6:54 PM #399121
davelj
ParticipantThis is disturbing – although not that surprising given the times we live in – on two levels (well, more than two, but two BIG levels):
(1) This guy is probably far more financially literate than the average home buyer over the last five years (with all that implies), and more importantly,
(2) His job is to understand finance and yet he has no problem whatsoever – no sense of shame or embarrassment at all – in sharing his story of idiocy with the world. Yeah, I know he’s hawking his book and will make some money from this, but… in days of yore his story would have been so unusual, bizarre and shameful, that he would do anything to hide its reality. Instead, it’s so commonplace, that he clearly feels that there will be no reputational damage whatsoever (that is, folks won’t scratch their heads reading future stories saying, “Why should I read this guy’s stories – he’s a financial idiot”).
(2) is by far the more disturbing element of this story. Shame is dead.
May 14, 2009 at 6:54 PM #399372ParticipantThis is disturbing – although not that surprising given the times we live in – on two levels (well, more than two, but two BIG levels):
(1) This guy is probably far more financially literate than the average home buyer over the last five years (with all that implies), and more importantly,
(2) His job is to understand finance and yet he has no problem whatsoever – no sense of shame or embarrassment at all – in sharing his story of idiocy with the world. Yeah, I know he’s hawking his book and will make some money from this, but… in days of yore his story would have been so unusual, bizarre and shameful, that he would do anything to hide its reality. Instead, it’s so commonplace, that he clearly feels that there will be no reputational damage whatsoever (that is, folks won’t scratch their heads reading future stories saying, “Why should I read this guy’s stories – he’s a financial idiot”).
(2) is by far the more disturbing element of this story. Shame is dead.
May 14, 2009 at 6:54 PM #399605ParticipantThis is disturbing – although not that surprising given the times we live in – on two levels (well, more than two, but two BIG levels):
(1) This guy is probably far more financially literate than the average home buyer over the last five years (with all that implies), and more importantly,
(2) His job is to understand finance and yet he has no problem whatsoever – no sense of shame or embarrassment at all – in sharing his story of idiocy with the world. Yeah, I know he’s hawking his book and will make some money from this, but… in days of yore his story would have been so unusual, bizarre and shameful, that he would do anything to hide its reality. Instead, it’s so commonplace, that he clearly feels that there will be no reputational damage whatsoever (that is, folks won’t scratch their heads reading future stories saying, “Why should I read this guy’s stories – he’s a financial idiot”).
(2) is by far the more disturbing element of this story. Shame is dead.
May 14, 2009 at 6:54 PM #399661ParticipantThis is disturbing – although not that surprising given the times we live in – on two levels (well, more than two, but two BIG levels):
(1) This guy is probably far more financially literate than the average home buyer over the last five years (with all that implies), and more importantly,
(2) His job is to understand finance and yet he has no problem whatsoever – no sense of shame or embarrassment at all – in sharing his story of idiocy with the world. Yeah, I know he’s hawking his book and will make some money from this, but… in days of yore his story would have been so unusual, bizarre and shameful, that he would do anything to hide its reality. Instead, it’s so commonplace, that he clearly feels that there will be no reputational damage whatsoever (that is, folks won’t scratch their heads reading future stories saying, “Why should I read this guy’s stories – he’s a financial idiot”).
(2) is by far the more disturbing element of this story. Shame is dead.
May 14, 2009 at 6:54 PM #399812ParticipantThis is disturbing – although not that surprising given the times we live in – on two levels (well, more than two, but two BIG levels):
(1) This guy is probably far more financially literate than the average home buyer over the last five years (with all that implies), and more importantly,
(2) His job is to understand finance and yet he has no problem whatsoever – no sense of shame or embarrassment at all – in sharing his story of idiocy with the world. Yeah, I know he’s hawking his book and will make some money from this, but… in days of yore his story would have been so unusual, bizarre and shameful, that he would do anything to hide its reality. Instead, it’s so commonplace, that he clearly feels that there will be no reputational damage whatsoever (that is, folks won’t scratch their heads reading future stories saying, “Why should I read this guy’s stories – he’s a financial idiot”).
(2) is by far the more disturbing element of this story. Shame is dead.
May 14, 2009 at 7:01 PM #399131JACKQLYN
ParticipantWow…
May 14, 2009 at 7:01 PM #399382ParticipantWow…
May 14, 2009 at 7:01 PM #399614ParticipantWow…
May 14, 2009 at 7:01 PM #399671ParticipantWow…
May 14, 2009 at 7:01 PM #399822ParticipantWow…
May 14, 2009 at 7:09 PM #399136patientrenter
ParticipantShame is dead. Indeed. When choices had to be made on how to manage through this latest recession, moral hazard was weighed against pain avoidance. Remember when moral hazard was a live issue? That’s long gone. Everyone decided we needed to “save our economy”, aka “hit the restart button”. This is what happens when you make that choice.
May 14, 2009 at 7:09 PM #399387ParticipantShame is dead. Indeed. When choices had to be made on how to manage through this latest recession, moral hazard was weighed against pain avoidance. Remember when moral hazard was a live issue? That’s long gone. Everyone decided we needed to “save our economy”, aka “hit the restart button”. This is what happens when you make that choice.
May 14, 2009 at 7:09 PM #399619ParticipantShame is dead. Indeed. When choices had to be made on how to manage through this latest recession, moral hazard was weighed against pain avoidance. Remember when moral hazard was a live issue? That’s long gone. Everyone decided we needed to “save our economy”, aka “hit the restart button”. This is what happens when you make that choice.
May 14, 2009 at 7:09 PM #399676ParticipantShame is dead. Indeed. When choices had to be made on how to manage through this latest recession, moral hazard was weighed against pain avoidance. Remember when moral hazard was a live issue? That’s long gone. Everyone decided we needed to “save our economy”, aka “hit the restart button”. This is what happens when you make that choice.
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