Subprime Loans, Corporate-Style, Will Fuel Defaults – The New York Times

By all means. Let’s talk about this and lets explain how this whole thing came about. I suppose this is a case of better late than never.

What bothers me is that the press was nowhere to be found to at the very least raise the possibility that there was lack of fiduciary duty fifteen, ten or even five years ago. It was left to a fringe of people that willingly chose to leave the main stream media at great cost to their professional and social lives to sound the alarm on what was clearly at best lack of fiduciary duty if not down right criminal behavior on the part of our politicians and authorities.

And even today, the most main stream media seems to be able to do is to parrot back how we got to where we are. Few if any are pointing out the extreme imbalances that are being fed by our “leaders” and what the likely results will be.

http://www.nytimes.com/2009/04/24/business/economy/24norris.html?pagewanted=1&_r=2&ref=business

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