Sunday, July 13, 2008

The Perfect Storm

I certainly do not like reading about other peoples misfortunes. In today's Mortgage mess, many celebrities find themselves in a bed situation. Ed McMahon, Vin Baker, Latrell Sprewell to name a few have all had their home or boats foreclosed on when they failed to make payments.

"If you spend more money than you make, you know what happens. And it can happen. You know, a couple of divorces thrown in, a few things like that. And, you know, things happen," McMahon said on "Larry King Live" recently. "You want everything to be perfect, but that combination of the economy, I have a little injury, I have a situation. And it all came together."

I think that sums it up for celebrities, spending more money then they make. It probably sums it up for most Americans too and when times get bad their world collapse around them. I think the big difference is the celebrities have the means to hire qualified professionals to help and advise them. The vast majority of low income Americans do not have that luxury and have just the opposite, ruthless mortgage brokers looking to make a fast buck by selling a product to a client that is not right for them.

We are all suffering because of this now,some more then others.

To read the full article from AOL CLICK HERE

Good Luck and Good Currency Trading



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