Sunday, January 8, 2012
Proper Justice or a Political Shakedown?
This is an interesting set of developments. According to this article, the Department of Justice is allocating a part of the Countrywide multi-million dollar settlement to these 3rd party organizations. Why are 3rd party groups benefiting from other's plights created by the evil, nefarious, and greedy bankers? [sarcasm removed] Seriously speaking, people need to understand that correlation does not equal causation. This does not mean that all parties were honest in their dealings. This can be assumed since there are no perfect humans. But, the devil is in the details. This case continues to underscore the need for financial education. People assume there is something for nothing, and there is always someone willing to continue this message and sell pie in the sky hustles. If people are provided the proper financial education, there would be a reduction in these type of law suits. However, in an environment were get rich quick schemes is the standard, more of these law suits will be a costly burden to our society.