My kid’s last day of school was yesterday so I’m fighting the urge to take the summer off. Ok, it’s not possible, but I can dream.

It’s been a week to remember.

Fast and easy credit that was relatively unchecked by regulators provided the perfect environment for fraud, the creation of instant wealth and/or newly found leverage to those who were willing to use it or accept it.

We seem to be entering the fourth phase of the credit crunch (not marriage). Discover, Fret, Propose, Charge, Reconsider, Solve

This week’s persistence award goes to a woman who, for 6 months, tried to get someone at WaMu to talk to them about their mortgage (hat tip to Holden Lewis/Mortgage Matters). Can someone please explain to me how WaMu’s CEO has been able to hold onto his job?

Here’s Politco’s list of mortgages held by US Senators.

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3 Responses to “A Busy Week For Senators, Lawyers, Brokers And Ex-Fund Managers”

  1. John K says:

    Take time off??? At your own peril.

    At the beginning of this year, a couple expert economists said that we’d have a recession this year, but that it would be over by the end of the second quarter … which is next week! You can’t take time off now, Jonathan, we’re headed for busy times, just ten days from now!

    I know I’m ready. I couldn’t be more “unbusy”. Thank god I’ve been saving my strength for the promised turnaround!

  2. Edd C Gillespie says:

    Is it safe to say we are concerned when the predators are doing favors for our elected officials? Or is it that the Senators are really so credit worthy that the deserve the extra break?

    Which brings up the completel unrelated question of how much credit ratings are contributing to the economic cass divisions in the US.

    Discuss that, would you Jonathan?

  3. Edd C Gillespie says:

    Are we concerbed about a predatory lender doing political favors for a Senator or is it that there are economic class divisions that are beginning to resemble the Grand Canyon?

    In an unrelated matter, would you mind discussing your impression of the impact of credit ratings on the separation of the social classes in the US?