Washington mutual Bankruptcy

What about the appraisers? they are as guilty in the bank failures as anyone else. They are the ones that place the HIGH prices on these houses.And, What about the salaries that all these CEO’s at Washington mutual bankrupt get? There is no man on earth worth $10 million a year or more.

Why can’t they lessen their salaries and put that money back into the company, thereby keeping us, the taxpayers, from picking up all these tabs.I was in the mortgage business for 6 years - people want houses, nor matter what their payments. We are required by our state to give the buyer a Statement of ALL their charges, including their monthly payments with taxes and insurance, at the time the application is made. The buyer is required to give a true and correct statement of ALL their debt also. A credit report is pulled and every entry on that credit report is discussed with the buyer at the time of their loan application. If they cannot afford the house payment, THAT is the time to tell the loan officer, NOT after they have moved into a house.

This might be a really time for our public schools systems to implement classes on how our banking system operates and then consequences of debt instruments.

The Washington mutual bankrupt are not altogether the fault of the banks. The high paid CEOs, the appraisers and the Buyers are equally guilty. I say, DECREASE the salaries of the CEOs and the officers of these banks. Put that money back into the Bank.