I don't know how many of you watch CNBC, but I highly recommend you check out a piece called 'House of Cards'. If you are not upset with how this country has been protecting your best interests, then something is wrong with you!
One piece from this story that particularly caught my eye and motivated me to create this blog was that of Quick Loan Funding, a company created by Daniel Sadek in 2002. Sadek did about $4 billion in subprime mortgages before his company collapsed in 2007. It was said that he was making $5 million a month and you could see his extravagance to spend his money on mansions, exotic cars, etc..
Please check out the following link:
http://www.ocregister.com/articles/sadek-citi-loan-2270290-billion-quick
Now, i'm sure all of you know about the economic mess that this country is in. What you may *not* know is that this was all made possible by a lack of regulation and ethics. What pisses me off even more is a lack of indictments of all the people who committed these frauds! Now I don't know about you, but I pay all my taxes and bills on time; I do all the basic things that are required of me. How is the government protecting my best interests?...by allowing people with a third grade education to form a billion dollar business out of nowhere?
How is a strawberry picker able to buy a 750,000 home on stated income? Tell me, HOW do these things happen?
We should all be VERY upset about what has transpired in this country and we have the power to do something about it. Please check out the following link:
http://www.reteaparty.com/
Talk to you later.
Wednesday, February 25, 2009
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