Savage Farming

Saturday, December 08, 2007

Insomnia and mortgage crisis, part 2

Apparently I'm not working hard enough during the day to get a good nights sleep.

Cspan is reviewing some mortgage crisis hearings from Wednesday. I am still astonished by the situation that the mortgage industry is putting itself into. Facing imminent foreclosure catastrophe brought on by their own practices, that industry acts as if it is not composed entirely of human beings. Can you imagine sticking a thumb-tack into your arm and then saying "Ow!" and then sticking yourself again and again until you bleed to death? That's exactly what the mortgage industry is doing to itself.

No one is holding a gun to the head of these people saying "you better foreclose on these loans" or "you've gotta raise those interest rates or I'll blow your brains out!"

All these banks have to do is to act, well, human. Alter their loans to make it possible for people to continue to pay. Why do they need congress to hold their hands and walk them to the potty?

In the words of Brian Regan "I give up on this species...."

1 Comments:

  • Totally agreed. I just don't see why it's necessary for the government to bail out that industry when it has dug its own grave. It's insanity.

    By Blogger Rae Ann, at 9:27 AM  

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