[merrylander]

Dave what I have been saying for years, we run on the Jack System, as in "Screw you Jack, I've got mine".

I have commented on how our mortgage system was designed by thieves for thieves. Now I know there are many honest people in the business, but the system tempts people to cheat. Suppose I am a mortgage broker, my kid needs college tuition and I have this client who wants to buy an $750,000 home. I know his income won't meet the mortgage after the first year, but I get one point from the $700,000 mortgage and run no risk, so I refer him. The bank knows that it will securitize his mortgage along with others and sell it so they take their two points and sell the bundle. If this is not what Wall Street calls Moral Hazard they bloody well should have.

Sure there is greed in abundance out there but the system only encourages it, to the point where honest folk are thought to be fools.