Wall Street Still Doesn't Get It!

Wall Street Still Doesn't Get It!

February 20, 2009
Sean Lewis

Wall Street is upset about bailing out an
individual who was 'irresponsible' and over
extended themselves by buying a mortgage
on a property that had a variable rate and when
it reset it was after 13 plus interest rate adjustments.

It doesn't matter that a wall street type advised
this person to take the loan. It doesn't matter
that a wall street firm approved the mortgage.

No the fault is the unsophisticated and trusting
homeowner who believed those Wall Street types
advising them at a fee.

Wall Street argues that it is wrong to give aid to
the homeowner but whine about the fact that if wall
street firms receive TARP money they have to be
accountable by reducing their pay and bonuses.

The argument of course is that to keep the talent
that bankrupted the Wall Street firm in the first place
you have to give them a bonus to stay. my answer
to that is, where are they going to go? Thousands
are being fired and there are fewer firms left.There
aren't any jobs out there to go to!

No wall street thinks that they are entitled to their
bailout but the ones bailing out wall street are not
entitled to their own bailout.

Main Street must be held responsible and must be
punished for their irresponsible finances, but Wall
Street should not be accountable and should not be
punished and in fact by action of how the TARP
money was used to pay unearned Bonuses, REWARDED!

Like I said, Wall Street Just doesn't get it!