This fellow seems to be quite a piece of work. He conned a lot of people into giving him their money. What I found most interesting was the mention of a "...struggling janitor at the Verizon Center..." who lost $7200. This woman was saving for "her first home".
Here we have one of the excesses of the President Bush "ownership society" fueled by the Dems favorite charities (Fannie Mae and Freddie Mac), with match thrown on in the form of a talented con man.
Putting aside for a moment the janitors desire to own a home, why would this person be so convinced that owning a home is so important? What have we done in our society to so thoroughly legitimize what is--like ALL other investments--a risky proposition.
No, this person would have been a lot better off renting an apartment or a house.
Thursday, September 18, 2008
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2 comments:
Put the blame squarely where it belongs. Having a bleeding heart is usually the consequence of not having a functioning brain that produces common sense.
http://www.ffiec.gov/cra/
Here here.
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