Tools of rules
Tools of Rules
With emphasis on character, thrust, duty, stewardship, and answerability.
Mr. Scorpion came upon an unexpected river in his roamings and was desirous of relocating to the opposite shore. He noticed Mr. Frog sitting nearby on a lily pad and inquired about the possibility of transport across from the amphibian. Mr. Frog was straight away suspicious about Mr. Scorpion's reputation for delivering unexpected deadly stings to adversaries such as himself and queried Mr. Scorpion on the matter. Mr. Scorpion apologized for the misconception concerning his reputation and assured him that there was absolutely no merit to the indictment. Mr. Frog invited Mr. Scorpion onto his back and began ferrying him to the opposite shore. Midpoint in the crossing Mr. Scorpion, for no apparent reason, delivered a deadly sting into Mr. Frog's self. Mr. Frog stopped abruptly, dead in the water, asking Mr. Scorpion why on earth was it that he saw fit to deliver a death sentenced to both. Mr. Scorpion's response was that he was very sorry, but that it was his "character to sting".
My point is that the "tools of rules" may not have been applied to "wishful" home loan applicants by the "Stewards" (loan executives) of America's loan institutions. That oversight, derelict of duty, or whatever the excuse, may have resulted in the disastrous economic debacle that finally surfaced in September of two-thousand and eight for the taxpayers.
Strict rules of lending practices are firmly in place in America's monetary lending institution's guidelines, and are expected by the American people to be strictly adhered to by the lending "Stewards" of taxpayer's funds. I say taxpayer's funds because taxpayer's pockets are the pockets that get emptied to bail out private corporations of huge magnitude in America that collapses financially.
Those guidelines include requirements that credit applicants must possess in order to be eligible to qualify for and receive a home loan. A basic requirement of an applicant to qualify and obtain a "mortgage backed" home loan is that he or she possess a history of good credit standing and can afford the loan that they are applying for. One tool of this rule would be the act of using a credible credit reporting agency to secure a current copy of an applicant's credit dossier that must stand a firm evaluation. And that the lending "Steward" makes damned sure that the applicant does not harbor a "character to sting". That is, a mortgagee that has a character of stinging the mortgagor en lieu of keeping and bringing about his or her promise of a timely delivery of repayment. Clearly the tools (credit dossiers) of rules (lending guidelines) were overlooked or disregarded by the lending "Stewards" and may have been "cause enough" for America's economy going a rye.