Saturday, October 11, 2008

OK, Who is at fault?

Well, It's almost official - We are in a recession, and the Financial Crisis of '09 is in progress!
Every day, we can see the carnival of finger pointing as the hunt for the guilty is embracing the media.
Last week, it was "oil speculators".
Then it was those rascally CEO's - taking carloads of cash out of their failing companies, as their managers were escorted out with no severance.
Next it was the Mutual funds, holding on to all their cash, waiting for the markets to bottom so they could buy all the solid companies for pennies on the dollar.
I can't wait for the news on Monday, as we find the latest bunch of potential scapegoats for the financial crisis! (brought to you live by all the news stations, if you can still afford Cable).
The sad part is that the ones who shamelessly enriched themselves, selling complex and unworkable mortgages to suckers like me, running companies into the toilet while being secure in their assured severance packages, and making indecent profits selling carloads of "bad" mortgages to Wall street and their minions.
Hoping this finds you outside of someones cross hairs, -Alan.

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