Wednesday, September 17, 2008

Our billionaire mayor speaks out on the "I want it now" society

An "I want it now" society that refuses to live within its means is partly responsible for the subprime-mortgage crisis, Mayor Bloomberg said yesterday.

"I think you just can't blame the banks," he said, taking borrowers to task.

"They say, 'I want the great American dream. I want it now and I'm not going to wait until I put some money in the bank.' . . That's where we lost the moral compass of saying no to people who did not have the earning capacity to support a mortgage."
(New York Post)


Not Born Yesterday said...

yeah right--and 25 cents will get you a ride on the train-
hypocrites and parasites

ken mac said...

and what would the mayor know about small time folks saving for a home? And of course his highness wouldn't blame the banks, oh no, he's having dinner with them every night. David Patterson for mayor.

Jill said...


I do, however, love 311.