Monday, March 24, 2008

"Sons a Bitches!!!"

The quotes are because it a commonly heard saying on my favorite radio program, which originates out of D.C., The Tony Kornheiser Show.

CountryWide, one of the MANY sub-prime mortgage lenders that have gone belly-up, had it's executives make hand-over-fist dollars during the boom. Now, they go bankrupt because of their shitty lending practices while making a fantastic profit.

So, what do they do next after leaving CountryWide hanging high and dry? But, OF COURSE!!!

Start up a new company to buy up those foreclosed mortgages and begin selling them for a profit...presto!

This is yet another reason why the wealthy continue to get more obscenely wealthy, while the poor get a fucking $300 tax rebate, coupled with the tax bill of bailing out these companies bad loans.

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