The Fall of the House of ....

How to finish the line? An old schooler might say "Usher" if they are Poe fans. I suppose you don't have to be a Poe fan to finish with that line, but you would know it was Poe anyhoo.
How about finishing it with "...wall street, banking, mortgages, the stock market, your portfolio or you piece of mind" for starters. The current situation with the American economy has many running for the hills, blaming the rich, or blaming the poor, but the fact remains that most will not be accountable for their own actions. The middle class, historically striving to emulate the wealthy class, having forgotten or ignored the fundamental principles of wealth generation, and were seduced by the real estate and banking industries into living beyond their means. The greed on either side has resulted in the Fall of the House of the Middle Class.
History repeating itself leaves very little for the historians to do. Who has been speculating for years that the mortgage industry was leading the Middle Class into a vortex of financial ruin whilst taking the banking industry, the real estate industry and the public peace of mind with it?
The tried and true financial leaders will have stuck to their guns, advocating fixed loans, emergency funds and conservative and diversified portfolios.
I have had the privilege and honor of representing such a firm and for the last seven years have been guiding my clients, and anyone else who would listen, to reduce their debt, live below their means and save for "just in case". Well, just in case is happening.

What about Congress? How can their intervention be a good thing? Governing free enterprise?
Isn't that an OXYMORON? Speaking of morons, Washington Mutual fell like a house of cards, eh?
Again, the Fall of the House of WaMu; who didn't see that coming a year ago?
I'll tell you who, the middle class. They were duped, used, abused and left for the sharks.
As it always is. When the smoke cleared and the profits run off with, who is left to pick up the pieces? That's right, the middle class, paying for it with increases in taxes when the government steps in to bail out ravaged banks and financial companies. Where are the proud CEO's and CFO's now? Spending the millions they made a month over the last 5-7 years while the middle guy loses his house, his family and his pride.

Educate yourself and if you don't, shame on you.

Diana Clinton