Greed, greed and greed

Dear mouse,

The Greed Theory

CHINA

Thousand of infants have been hospitalized and some have died due to tainted infant milk formula. The Chinese parents are outraged. They are demanding for the blood of people who are responsible for the contamination. How was te milk contaminated?

Melamine, the contaminant, is used to make plastics and fertilizers but banned from food production. In the past, it has sometimes been illicitly blended into agricultural products as a cheap way to raise protein levels.
Milk producers sometimes inflate their supplies by adding water. But the diluted milk has lower nutrient levels, so melamine, high in nitrogen, is then added to restore those levels artificially to meet protein requirements. Infants who drink the formula for sustained periods can develop kidney stones and suffer kidney failure.

Why do businesses resort to this irregularity to maximize profit? GREED is the answer.

USA
Even with the worsening crisis, a number of a growing number of fly-by-night companies are still employing brazen tactics to push homeowners into illegal and unconscionable loans.

They look for possible victims, specifically those who can not understand English, convinced the homeowner who has a variable mortgage rate to refinance…falsify his income and work history…promise a lower monthly amortization. The agents earned their commissions and the homeowner gets the proceeds of the loan.

After the refinancing, the monthly payment increased due to the second mortgage. The homeowner can’t pay because his income is doctored. He loses the house. The agents are s laughing all the way to the bank. Greed destroys the future of a whole family.

The bank repossesses the property which by now has already dropped in market value. Did the bank lose? The government agency which guarantees and sells these mortgages as bonds lost because it has to pay the bondholders. … the two big corporate mortgage giants , Fannie Mae and Freddie Mac lost. The money paid to the bondholders/investors come from the taxpayers.

Greed that’s what motivate the people in the food chain. Everyone wants a bite..the homeowner likes to own a dreamhouse even though he has no capability to pay hoping that he can sell at a profit when the market value increases, the realtor/real estate agent who falsifies documents cheating both parties, the lender and the borrower at their very noses.

…The investment companies who did not want to reflect the markdowns in the values of their stocks because equity is being depleted by loss of confidence of investors not until the crisis shook the Wall Street causing a nightmare to all.

…The CEOs who only wanted their huge paychecks and bonuses recommend cost-cutting that affect the lowly employees; like removal of some benefits, mostly health benefits, vacations and some perks. Some pink slip employees and retain only the skeletal force absorbing the jobs of the “departed’.

PHILIPPINES

I’ve seen greed even when I was a growing up young girl…the storeowners diluting their vinegar with more water, rice with little stones, market vendors injecting the chicken with hot water, illegally calibrated weighing scale and many more.

If a senator or a congressman insert an item in a budget for projects that would benefit his business,
what do you call that? Greed!!!

The Ca t