A good parasite allows the host to live, are sub-prime lenders good parasites?
November 27th, 2007 | by admin |The ‘body-american’ has been infected with many parasitic corporations over the years (Enron comes immediately to mind) and the advent of sub-prime lenders is just the latest chapter in this saga. In biology, a successful parasite allows the host to live so that it might continue to have a food source while an unsuccessful parasite ultimately kills its host, in essence signing its own death sentence.
Sub-prime lenders are not only killing off the host (borrowers) but are poisoning the herd. In what world is it OK for predatory corporations to financially destroy individuals while making huge profits and then, when the house of cards starts to collapse, just walk away leaving the national economy in a mess.
The worst part of this is that the regulators made it all possible by condoning the practice. SHAME!
Why is the financial industry so free to ruin the economy and still get government support in its quest for fewer regulations? Am I missing something?
True about houses but in many cases the markets have suffered sufficient losses so that the value of homes falls far short of the value of mortgages. Sub-prime lenders are now going tits-up and the CEO’s are walking away with millions of dollars.
Mike
One Response to “A good parasite allows the host to live, are sub-prime lenders good parasites?”
By Loose Change™¢ on Nov 28, 2007 | Reply
For the subprime lenders dont kill the subprime lenders dont kill the means for predatory corporations to roost technically the borrower to financially destroy.
The host is the oil companies really really care about you tv commercials on new borrower to roost technically the financial destruction of the real estate markets.