Editorial
From CNBC to Lehman Brothers, Merrill Lynch, Bank of America, for over 8 minutes we can watch John Stewart on The Comedy Channel, moving our problems to the back burner for a minute or two.
My payment to Saxon Mortgage was mailed three days ago. I still receive at least four phone calls every day from Saxon. I have seven other mortgage payments, all of which were mailed at the same time. None have ever been late, nor will they ever be late.
This was seen in the Wall Street Journal online edition:
The Journal continued with its criticisms, which certainly went beyond one unlucky trade: “In addition, under Mr. Mack’s watch, Morgan Stanley in February 2006 paid $1.76 billion for a credit-card company, Goldfish, only to see its value written down by $422 million a few weeks ago. He acquired a subprime-mortgage company, Saxon Capital Inc., for $706 million last December, even as warnings about the subprime storm were being sounded.”