Reading the first headline, my first thought was "no shit!"
Fed Chief Says Insurance Giant Acted IrresponsiblySenator Wyden (D-OR) asked the best question:
Pressing for quick action on the economy, Ben S. Bernanke also scolded A.I.G. for exploiting “a huge gap in the regulatory system.”
“Mr. Chairman, at what point will the taxpayer no longer be on the hook for the massive A.I.G. failure? What is the end game for American taxpayers?”This next headline really does burn. Some of the very executives that contributed to the current mess now seem to be poised to PROFIT from our misery!
Ex-Leaders at Countrywide Start Firm to Buy Bad LoansCountrywide executives contribute to getting us into this mess and now they stand to make millions from the home mortgage mess. Isn't there a law that says criminals can't profit from their crime? It might be time to lock some of these guys up.
Executives from the company synonymous with the excesses that led to the housing bubble are now making money by buying up distressed properties.
And finally, how low will some debt collectors go -- picking on people at one of the most vulnerable times in their life.
For Debt Collectors, the Dead Are a Healthy BetThis reminded me of an experience I had following my fathers death. He knew he was dying, so in an attempt to spare his family any burden he had pre-arranged his burial. He would be cremated, and his ashes would be interned at a memorial garden near his home.
Next of kin often have no legal obligation to assume the debt of the deceased, but they often respond to the gentle touch of a growing breed of debt collectors.
When my stepmother arrived to let the director know that we wanted to have a small service, he proceeded to tell us all the things my fathers "pre-paid funeral" didn't cover. Had we just listened to him, my stepmother would have been out close to a $1,000.
I looked the director in the eye and said "I'm sure my father thought all this had been taken care of, and I think it's terrible that you seem to be trying to take advantage of us at a vulnerable time. If you insist on making us pay these additional fees I will call my friends at the local NBC affiliate and ask them to do a story on this. Do you really want that publicity?"
Guess what? He dropped all the additional charges.
No comments:
Post a Comment