How many leaders of these firms are going to jail for their actions? When the smoke clears we will see very few if any behind the bars and hear the clink each day. They will take their millions and go home to live while the average American watches their funds disappear. Many Americans have lost their business and homes because of the greed of a very few.
I know of Home Builders in Florida who accepted down payments with credit cards as low as $5,000.00 and when the economy started south, they walked leaving homes started that had to be completed. In some of the upscale developments like "Plantation Bay" I saw house after house started and in various stages of construction during the last year with no buyer. I think some were Spec Homes and this just increased the problems as no buyers were coming to buy.
Some of the largest Florida Builders left the east coast due to the over building and a large number of spec. homes they had. KB Homes, Centex, Holiday and Mercedes Homes are just a few who didn't make it in that area. Greed flourished as I saw it first hand with lot owners buying at $9,000.00 and trying to sell within months from $36,000 to $65,000. This went on for over two years and now We the People are having to bail out companies who loaned the funds to people with no Verifiable Income. Lenders were pushed to make loans to people that otherwise couldn't qualify and We the People are paying the bills.
Greed by Builders, Lenders, and Investment Banks along with Liberials who pandered to people who shouldn't have been given loans to begin with caused this.
Now We the People Pay.
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