Why does this seem like an endless amount of information and dollar amounts being spent on
to trying to solve the global economic crisis while the politicians, economists and Wall Street ”experts”
are having a major problem with getting their hands around the major cause. An Ego problem for all
of us to consider.
When I owned me temporary employment agency in Encino, CA, we participated with
the Resolution Trust Corporation. We were the first to feel the anti-VIP treatment from
Countrywide Mortgage.
While Mortgage & Financial Personnel earned a ranking of #191 in the 1990 version of
The Inc. 500, we began to feel a downturn. It became apparent that the industry was changing and
when the mortgage loan underwriters that we sent out on temporary job assignments began being
turned away, I wondered why were my best employees now deemed unfit for duty.
The demand for qualified mortgage personnel became frantic. I underwriters were turned away because they
refused to sign off on loans that appeared “unworthy” for loan approval.
