Taos Skier Knows the Wall Street Score

Posted by Jim Kimmons, Broker/Owner • October 29, 2008 • Printer-friendly

Greed is the name of the game on Wall Street, and it's a leading cause of our current economic problems. The person who is considered an expert is also a visitor to the slopes in Taos. He is Steven Pearlstein, and over at Washingtonian.com, this article tells us why.

He says “If there is a surprise here,” he wrote on October 3, “it is that anyone should be surprised by the level of greed on Wall Street.” It's not all the big wheels, as the loan products that are causing many of the foreclosures were designed to appeal to the borrowers greed in a way. At least their desires were fed. Larger home, lower payments, more home than they could really afford.

Anyway, read the article and learn a little about the credit swaps and other tactics that are causing all of these problems for the masses, while the sky is full of golden parachutes.