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Interesting. I work for a major financial services company (one who was not in the news as one of the evildoers) and when people found out that I work there, they all have favorable reactions.
In fact, even though I do not work on the brokerage side of the house or as any type of analyst, they still want my opinions. *LOL* I tell them to call our 800 number for help coming up with a game plan.
Now granted, maybe if I were to come out and say I worked for Lehman, Bank of America, Citibank, etc the reactions would be different.
I work in the telecom business, not finance. Here in Orange County, CA, the home base of the worst of the worst in the sub-prime mortgage meltdown, I don't carry any sympathy for those who were involved in creating this whole mess. Our local former financial kingdom was the place where companies packaged countless billions in Mortgage Backed Securities that were later sold by Lehman et al. A few years ago, tens of thousands of people with few real skills and experience were making absurd amounts of money to write liar loans on homes that had been sold at highly inflated prices. Most of them have moved onto something else, such as new scams like "mortgage modification". I see these popping up all over Orange County, and they are staffed mostly by people that worked in the sub-prime loan biz. I know several people in the mortgage modification biz, and they tell me that their objective is really not to keep the home buyer in the home to save them from financial ruin. Their objective is to get the home buyer to turn over the home to the mortgage modification firm and walk away to avoid financial ruin. The mortgage modification firm then figures out how to squeeze money out of the house by wrestling with the lender to reduce the face value of the loan loan, and then the mortgage modification firm looks for a new buyer who will pay more than that loan amount. I wonder how they feel at the end of a "good" work day?
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