Loan Modification

Lewis: We?ve arrived at a point of madness

By Morgan

Excellent interview with Michael Lewis who talks about his days at Solomon and how the 1980’s were really the start of this era of greed and malfeasance that led to the economic calamity we’re currently going through.  He goes on with the following insight regarding the players in the game that portends future disaster (h/t HuffPo):

…one of the things that’s odd about the current situation is that the people who created the problem are so powerful in deciding what the solution to the problem is going to be. There is a great tradition on Wall Street of making a fortune, creating a mess, and then making a fortune cleaning it up. But to do it on this scale is breathtaking to me.

Full post as published by Blown Mortgage on June 07, 2009 (boomark / email).