Sr. Pessimist

Any Value Left In New Century Financial?

I suspect that's a difficulty for most businesses. They have a huge overhead, and the only margin beyond cost is around 10% of revenue. Plus, their money all goes toward investing shareholders, which simply sap the economy dry and steal work value from laborers with their overall success in acquiring capital profit. One more problem is they never seem to do it right in the first place. Good enough for government work will get you money. Nobody seems to grade their product quality by any acceptable standards. I hate this idea that the economy is competitive with itself. One lender jumps in because so many others provide a loan product no worse than its own, really. Money is not valuable enough to grade the true marketability of product, especially when you consider that in some ways the vast majority of us are better off not even using the US Dollar. Look behind the money. So many of these mortgage firms never did any real work. They just destroyed the credit records of people and got short-term profit, and people were so misled into thinking this was going to work out.