And Then There Was Light

This is the initial entry in a blog dedicated to decency, honesty and fair play.

One Response to “And Then There Was Light”

  1. sammit Says:

    The civlized world is experiency serious financial upheavals.
    The general opinon seems to be that the problem stems from sub-prime mortgage loans that have been offered by financial institutions during the past few years.
    I believe this to be a canard.
    I would like to see a tabulation of the grand total of all of the sub-prime mortgages that were entered into ,in all of the United States ,over this last period of time.
    I am confident that even on the unreasonable assumption that they all defaulted, it would not amount to the mega billions of losses being claimed by the financial institutions.
    Surely, I do believe that the losses incurred due to sub-prime mortgages were very substantial, but not nearly the amount in question.
    Instead, I believe that the financial institutions have used the mega-prime issue as their opportunity to camouflage the clean up of many of the dead-weight assets that they were carrying on their books over a long period of time along with unreasonable expenses incurred during the period.

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