Subtle Rantings

This quote from a founder of a company that partnered with Washington Mutual. If you don’t know WaMu was one of the failed banks that you’ll find on the FDIC Failed Bank List.

“It was the Wild West. If you were alive, they would give you a loan. Actually, I think if you were dead, they would still give you a loan.” – Steven M. Knobel, a founder of the appraisal company Mitchell, Maxwell & Jackson, that did business with Washington Mutual (WaMu) until 2007, as quoted by The New York Times

They assumed the risk by making shady/greedy lending moves to risky people. That was stupid. That was a mistake driven by greed. Let them fail. It’s called personal accountability and responsibility.

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