hand out hundreds of millions of taxpayer dollars as bonuses to the incompetents at AIG who helped engineer the economic disaster? How many lectures we received about "the sanctity of contracts", even from an industry notorious for avoiding its contractual obligations?
Every time I hear bankers and financial industry insiders assure us that the current mortgage mess is "no big deal" - that we should shrug off forged documents, the failure to have properly conveyed mortgages, even the inability of a party asking for foreclosure to prove it has any legal right to do so - I am reminded of those earlier assertions. Contracts are sacred when scrupulous adherence will line the pockets of financial and insurance industry insiders. When they might work to the benefit of the little guy, they're "red tape" to be ignored.