Friday, January 16, 2009

Not to say I told you so, but....

If anyone really believes the squaliformes are making some kind of massive effort to actually modify existing loans, Countrywide's response in a New Hampshire lawsuit should finally put an end to the mythology that ol' Bean has been hollering about. (Click on the title link, above to see MSNBC's coverage.)

Loan "modifications" aren't being done. Period. Additional agreements primarily designed to protect lenders are being foisted on desperate borrowers in a public-relations effort to protect a handful of key players and the Congresspeople and Senators who are desperately trying to avoid taking responsibility.

So let's see this for what it really is - squaliformes are getting billions from the funny-farm that is Washington who let the squaliformes get away with murder in the first place. And instead of doing the right thing and punishing those responsible, they're waiting for the squaliformes to act responsibly. And lying through their teeth about how much good they're doing. And asking for more. And trying to shift the blame elsewhere.

I'll be up at the Fort Worth Stock Show for a few days; the air there smells a lot less like BS than what's coming out of Washington. FYI - if you can, join us to watching the bull riding; a friend's son-in-law is in the competition.

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