So, should we feel sorry for them? Or happy to see their downfall as they helped create the problem?
Hundreds of thousands of REIC are going to be financially ruined during the downfall (along with millions of Americans). But they created the downfall which financially ruined them.
Oh, what to feel HP'ers? What to feel?
Schadenfreude? Mercy? Compassion? Rage? Forgiveness? I guess it'll be a case-by-case basis. First steps would be an apology, taking the blame, and an admission of guilt. And I don't think I've seen that from ANY realtor, mortgage broker, appraiser or REIC member yet. But damn, I can't but help feel sorry for these people. Everyone except Greg Swann that is.
Careers vanish after subprime 'free fall'
Kent and Mysti Cope were well-paid executives at subprime lenders who never thought the industry could disappear overnight. Now they're just trying to get by.