[Rhodes22-list] Rep. Henry Waxman, D-Calif/Let the games begin.

[Robert Skinner]

Having worked for a bank, I can back what Hank says.

Many banks are now severely overextended on loans.
Harvard MBA types have been prodding for short-term 
profits at the expense of long-term stability.

When the pre-election go-go machine winds down, I 
fear that it may go below stall speed, and confront
us with a damned-if-we-do-damned-if-we-don't 
decision on bank bailouts.  

BOHICA
/Robert 

Hank wrote:
> 
> One of the reasons I say it is the fault of the banks is that I think there
> may be a problem coming up soon where many will default on loans due to
> these balloon payments.  Then the banks have made bad decisions on lending
> the money.  I also believe the banks are partially at fault as they tend to
> gloss over the negatives of the programs in order to get the business.  I
> know, buyer beware, but I believe the banks have an ethical and moral
> obligation here that they don't always live up to.
> 
> Hank