2008-09-09prudentbear.com

What does it say about the character of a financial system that pays someone $150 million for destroying a company that he was hired to lead?

With this kind of example being set in the corporate boardrooms and on Wall Street, is it any surprise that so many Americans, even those who can afford it, see no reason to continue making their mortgage payments if they no longer have equity in their homes? This credit crisis in America, at its most basic level, is a crisis of character in this country, and character begins at the top.

Great essay... couldn't agree more.



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