Wednesday, September 13, 2006

Greed is Good. Ohh..wait a minute, no it's not!

Poor Bob Toll.
According to him, if it weren't for all the greed and speculation of buyers and sellers in the U.S. housing market, happy days would be here again!

Come on Bob, what about the famous line of the character Gordon Gekko in the 1987 classic film "Wallstreet"?

After all, "Greed is good."

Well, maybe it's just me, but it I find it curious that Bob Toll and the real estate industrial complex, including realtors, homebuilders and mortgage brokers would consider themselves so overqualified an authority to preach to the market and the American public about the vice of greed.

What's that classic Old English adage: "The pot calling the kettle black"?

(Bob Toll is the CEO of Toll Brothers, Inc., which designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities.)

1 comment:

Anonymous said...

You can't blame the average Joe for wanting to make a quick buck. The "everyone's doing it so why not me" syndrome is easy to buy into. The real issue is the lax lending standards that fueled the fire. It's gone on far too long and will eventually be the root of all this evil speculation. I think president Bush is hoping that the economy will hold on long enough until the next presidential election so he and his cronies can say how much money eveyone made during his reign.