Professor Elam

Scott Burns asks if we have learned anything from the finanical meltdown. He suggests that we ask for realistic solutions rather than the pie in the sky pablum we are being fed.  AS he says about the lending industry, we may owe them money we do not owe them any consideration. No kidding, and I hvae a few questions in that regard

If lending is so restricted and all the baniks are on life support, how come Robert Wanger is on cable tv every thirty minutes urging seniors to take out a reverse mortgage. If the value of their house just fell, isn't that rather dangerous?
Are you still getting unsolicited offers for credit cards? If credit is tight, why is that?
Has anyone at Merrill Lynch or your neighborhood bank (everyone is a financial planner now) apologized for just being plain dead wrong, I mean about everything? Investing in the market, borrowing on your house, heck, buying  a house with next to nothing down. After the 1987 crash only Al Frank at the Prudent Investor came on FNN and apologized for being wrong by not warning of a crash. Gee I don't rremember the President of Lehamn (who paid himself $300 M in 2007) doing that.
Did Barney Frank or Chris Dodd apologize for FNM or FRE, or did Franklin Raines at FNM apologize?

I just wondered.   Sounds like an ethical dilemna to me.

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