I came across  two stories in recent days that make my blood boil. One even used the term.

The first was from the Planet Money blog and pointed me to Joe Nocera’s NY Times column. He talks about the AIG mess and how the company has to be kept alive:

And yet — and this is the part that should make your blood boil — the company is being kept alive precisely because it behaved so badly.

Then in today’s New York Times I read that the the former execs of Countrywide, a failed company synoyms with the mortgage crisis, have formed a company to profit on the toxic assets they created. They’ve been buying up mortgages from the government for pennies on the dollar.

I guess because of the insider knowledge of the crisis they’re doing well.  According to a report from the head of loan servicing when reporting to CountryWide’s former president:

“In fact, it’s off-the-charts good,” he told Mr. Kurland, who was leaning back comfortably in his white leather boardroom chair, even as the financial markets in New York were plunging.

Unfortunately they haven’t been convicted of a crime so there’s no way to keep them from starting a business. But with all the rules being put in place over executive pay, can’t we limit the selling of loans to the people who contributed to the crisis?