Wall Street along with corporate business owners are horribly cut throat. It’s as if all morals have been lost and it’s explicitly about the money. “For example, America has enjoyed a bonus it didn't deserve in its free-wheeling participation in the housing market, before it became a bubble. Despite great efforts by regulators to manage systemic risk, there have been market failures. The causes of the current market failure, which is the real object of the public anger, go well beyond the Wall Street compensation system -- but compensation has been one of them.” High executive status people are being paid for bonuses of immoral or little work. “But the basic point is that, despite the dreadful year that Wall Street experienced insome questionable bonuses were paid to already well-off employees, and that set off the outrage.” Employees of these billion dollar businesses are making extraordinary amounts of money by passing REETS to companies who cannot even support them. The purpose of the REIT was to balance and even out the risks. The companies that accepted these REIT’s were fooled by thinking they had a batch of people who were mostly good borrowers as opposed to bad borrowers. The truth was that the REIT’s they bought landed up having many bad debtors that would default their loans. Too many people would default their loans causing the lender to go bankrupt. The company that sold the REIT’s would then run away with their money. Due to approving almost any borrower, the REIT’s were very corrupt. The fact that these companies can even get away with this is just wrong. I think the government should get a good grip on the housing and business markets and regulate them harshly. If we would have seen this coming sooner we could have prevented an economic downfall and an American crisis.
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