Legal Commentary

Nostalgia and Protest at Mortgage Bankers Convention

By TChris

You might expect a convention of mortgage bankers to be a dull affair. Not this year.

[Karl] Rove, the Republican strategist and former adviser to President Bush, was accosted onstage during a convention panel here on Tuesday morning by a protester who tried to handcuff and arrest him “for treason.” Mr. Rove tried to elbow her away before she was taken offstage.

The protester unfortunately lacked any actual arrest authority.

To be fair, it seems that mortgage bankers could party with the best of them in years past. [more ...]

“We had streakers during the 1990s, but that was a joyful, happy thing,” said [mortgage broker Gregory] Lucas, who had been coming to such events for 20 years and recalled how a group of inebriated and naked bankers had once entertained the crowd. “But now everyone is blaming us for everything.”

Ah, for those glorious days of excess and unregulated fun. The days when housing prices always grew to match the debt that keeps mortgage bankers in business. The roaring 90's were a great time to be a naked banker.

This year, there's no reason to party, no networking to be done.

“I’ve cut a lot of deals in those bars,” Mr. Lucas said, chomping on a cigar. “And there wasn’t anybody there last night.”

The only entertainment now is provided by Karl Rove as he tries to avoid a symbolic arrest.

Full post as published by TalkLeft on October 22, 2008 (boomark / email).