I'm with you Jude.
I saved every piece of junkmail I received over the last 6 years offering me free mortgages or credit cards with absolutely no money down,no W-2's needed,no background checks,no credit check,no interest,no fees,no cosigners,no questions asked.They didn't even know anything about me..who runs a company like that?..that's just assine!
To me that was a HUGE red flag of an infectious virus and a telegraphing of a house of cards waiting to collapse so I sold every single stock I owned right there and then during those days.Put all my money into tangible or insured ventures,regardless of how small the interest rate was.Told all my close friends & loved ones that there is a financial Tsunami coming the likes of which we have never seen before so get your house in order,especially to those I know over the age of 65 because their recovery time is limited.
Today I still have that pile of junkmail offers over 12" inches high and see them as the next "Beanie Baby" collectible in the future..LOL..
"Remember when we would get these daily".
The banks did this on their own & have noone to blame but themselves.They should be held accountable for their greed and ignorance of handing out mortgages like they were christmas calendars to anybody who wanted one and enticing people to live way beyond their means when they had no business doing so.Now we sit here today watching the banks not claim responsibilty for their own actions while going under and it's magnified into a worldwide epidemic.
With Governments,(i.e.us & our offspring),hoping to try and bail them out as a company,while they ride away on their individual golden parachutes.
Look what happened to Lehman Bros.CEO Richard Fuld yesterday after appearing before a senate committee.I could see this becoming a daily epidemic too..
http://www.businessandmedia.org/arti...006150152.aspx