Hammer and Squeak...everybody, really, is showing that we understand the elements of the mess the country is in.

Greed and ego...those are the critical elements. Ego on the part of people who yielded to the temptation of borrowing sometimes 125% of the purchase price of a house...signed up for 40 plus year mortgages...did ARM's which reset to unaffordable payments and more foolishness just so they can have a larger house than the neighbor.

Then, there's the business establishment that banked on the property values going up to the point where, if a foreclosure was necessary, the house(s) involved would be worth more than the mortgage balance.

The whole affair played on the greed and egos of all involved, and now everyone is paying the price. Rory hit it on the head when he says the bail out is going to cost as much as we have spent on the war in Iraq.

An absolute mess!


Russ