Tuesday, November 11, 2008

The moral hazard of modifications

It was brought to my attention that my post regarding CitiGroup does not correctly communicate my views. I would like to invite others to share their thoughts regarding loan modifications.
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1 comment:

Shevy Akason said...

From Sarah Piazza- Evergreen Agent-
Consumers believe banks when the bank experts say this is the new way we are doing business and you qualify. When our high schools start teaching finance, banking, loan qualifications then maybe the consumer would be held more responisible. Funny how the Fed Chairman did not even think their was a problem with the system. If the Fed, Freddi/Fannie and the banks do not know how to do responsible loans, I do not know why you think the average consumer would know. Basically our government has created a huge mess and if they are going to bail out Wall Street then they need to help Main Street. People buy real estate because it is their time in life to buy, not because they were trying to take advantage of the system. Now the system is taking advantage of the consumer thru foreclosing on them because the consumer paid for a bad loan. The government with all their financial experts should have known that they were setting our country up for a big fall. Stop persecuting the little guy that could be your future client. It is the big players like AIG & Freddie/Fannie Executives that are stealing your tax dollars. They are stealing them in BIG Dollar Amounts.

November 12, 2008 at 11:26 AM

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