Property Grunt

Monday, March 15, 2010

It's in their nature

Watch CBS News Videos Online

Watch CBS News Videos Online

Watch CBS News Videos Online

I absolutely recommend all of you to watch these 3 stories from 60 minutes since not only gives the rundown on Wall Street's role in the current economic mess. And it is very f**ked up.

And it confirms the following.

The theory of the 880 lbs gorilla has been proven.

Whatever fail safes that were in place, if they were ever in place at all, have completely failed.

Nobody did their due diligence or cared even to do it.

Just because you help someone out of a hole does not mean they will change their ways. And as Wall Street demonstrated when they were bailed out, they jumped right back in.

We are not out of the woods yet
and this will happen again. In fact, I would bet that there are forces at work right now who are preparing to take advantage of the double dip, and probably engineering another Greece.

In Wall Street as long as money is being made, nobody gives a f**k. It's their nature. Like a scorpion.

It is also in the people's nature to not take this lying down.