investment banking

redlinekid2
Thu, 16 Oct 2008 10:34:21 +0000

This goes to show what happens when stupid people are running the show at these financial institutions. Such a situation that the economy is in should never had be allow happen in the first place. I can’t understand why anyone would bet on the Real Estate boom by creating these subprime/exotic loans to people who were not qualified for them to begin with? In addition, in my area, which I lived in for 20 years, I have never seen a building boom as rapid as I had seen in the last 6 years. And that was in this decade alone. I wondered how on earth are they able to build so many housing units and commercial units when the existing ones were vacant? To me, in 2004, I feared that the sudden Real Estate boom would lead into a prolong recession. I called it build yourself into bankruptcy, which we are now seeing. This is clearly an example of corporate greed and financial irresponsibility. There was never a time when I felt so disenchanted about the future than right now. This is even worse than the dot.com boom.