Economic and market Narcissism.

I think (once a person reaches adulthood) a robust sense of entitlement with no product, service or good is a kind of economic and market Narcissism. The latest Wall Street melt down exemplifies this! These financial officers assembled, marketed and sold fully insured cash pipes composed of soon to be in foreclosure adjustable rate mortgages which in turn were poorly granted to 1st time home buyers unable to qualify for fixed rate mortgages.

If they cared about anything more than the sales necessary to beat market analyst forecasts for their financial sector, to justify FAT sales commissions, I need to be shown WHERE that caring was in practice. The term of the fixed rate mortgages could have been increased to lower payments and boost sales that were sustainable to 1st time home buyers. 100 year fixed rate mortgages are common in Japan. They are secured by social security payments. If social security was an apportioned tax this could be done legally here in the United States. Instead, rewarding such lopsided behavior (investment fraud) with a bail out (protecting the wrest of us) needs to be balanced by fines and jail time for the perpetrators of this destructive loose witted practice and prospectus. Because there shall be no ex post facto laws here (retroactive punishment for things which were not crimes at the time but are now), it needs to be put into practice going forward that such unethical, destructive and rash economic and marketing behavior by financial officers will be quickly and costly punished.

Do you agree?