tag:blogger.com,1999:blog-1750239339662593269.post8716872393169803683..comments2023-11-02T05:19:59.640-05:00Comments on Delusions of Truth: Hot Potato HomesKlepsacovichttp://www.blogger.com/profile/07915576683657376929noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1750239339662593269.post-37430097780187583102009-08-19T14:08:28.561-05:002009-08-19T14:08:28.561-05:00I'd call them fools, but the people who fired ...I'd call them fools, but the people who fired you probably did run off with quite a pile of cash. What were you supposed to do? If you saw unsafe conditions at a chemical plant you might tip off inspectors or even go on strike, but I imagine either of those would just get you laughed at and then fired.Klepsacovichttps://www.blogger.com/profile/07915576683657376929noreply@blogger.comtag:blogger.com,1999:blog-1750239339662593269.post-51596712899259557172009-08-19T12:13:23.307-05:002009-08-19T12:13:23.307-05:00Actually, about 2 1/2 years ago, I and 1,000 other...Actually, about 2 1/2 years ago, I and 1,000 other people got to work one day, about 2 hours in we were told that the company was out of business and we had to leave. It was bad. <br /><br />What sucked was that I worked in the Accounting department and knew that money was tight, our credit lines (used to fund customer loans) were tighter and more demanding, so the possibility of failure was in front of us. But after it all went down, the lawyers representing the owners blamed our department for many of the problems, when all along those same owners wouldn't listen to us telling them to stop making such risky loans.<br /><br />I was also priced out of the local home market in about 30 minutes (no joke). Like a vampire to blood, when people smell riches they tend to act more animalistic and less human. Reform would be welcome.G-Rebelhttps://www.blogger.com/profile/15643815147549753677noreply@blogger.comtag:blogger.com,1999:blog-1750239339662593269.post-68735899668088274702009-08-18T16:46:20.816-05:002009-08-18T16:46:20.816-05:00Everyone does what makes sense to them. Buy low, ...Everyone does what makes sense to them. Buy low, sell high is impossible though in an inflated market, so it is substituted with buy high, sell higher. Since we're all swept up in it, it looks like buy low, sell high. Then someone goes and points out that the emperor is naked and next thing the house of cards falls down.<br /><br />Do you still have your job? I know that industry was hit pretty hard, though I can't say I wouldn't mind seeing the financial system overall get chopped down to about a tenth its current size. And no longer counted as part of GDP at all.Klepsacovichttps://www.blogger.com/profile/07915576683657376929noreply@blogger.comtag:blogger.com,1999:blog-1750239339662593269.post-5882249429369495022009-08-18T14:47:02.136-05:002009-08-18T14:47:02.136-05:00Yeah, I'm not only disabled (bring on the deat...Yeah, I'm not only disabled (bring on the death panel), but I also worked in the mortgage industry during the peak of the madness in one of the most out-of-control markets in the country (now tops in foreclosures, etc).<br /><br />You've basically got it right, although, as I'm sure you know, the issues run much deeper and complex. From credit markets grading bonds too high, to back-alley deals between mortgage companies and the investors who puchased those loans, to loan officer deceipt of the public, to appraiser fraud, and let's not forget those stupid people who didn't research what was to be the largest and most important purchase of their life because the loan was easy and they were too busy to care...hey, they got their house.<br /><br />It was bound to collapse. That much corrpution can't last forever, can it? Maybe next time it will, and there will be a next time.G-Rebelhttps://www.blogger.com/profile/15643815147549753677noreply@blogger.com