Lies and the Love of Smart-Dealing – Part 6

Yesterday’s blog post outlined my theory that lies regarding income and employment factors on sub-prime mortgage applications, mixed in with what we know to be ‘smart business dealing’ practices - that involved hiding such hi-risk loans among other good-risk ones - played a considerable role in creating the current economic crisis.

In earlier blogs I have explained the role of recessions in increasing acquisitive crime rates (see Stolen Goods Markets in the Bent Society Subject areas), but the theme I wish to explore further today is the influence of celebrities, journalists, businesses, house buying and other financial gurus on civic society.

Is Phil Spencer a Sub-Prime Monster?

The Sunday Times newspaper’s property market section carried an article on March 30 (Spencer 2008) that I found to be a truly shocking example of someone encouraging others to engage in shamelessly self-interested attitudes towards the plight of others.

In the article boldly, entitled: ‘TREAT ‘EM MEAN, KEEP ‘EM KEEN’ Spencer (that's him pictured) offers his ‘Top Ten Tactical Tips’ for haggling with someone who is selling their home so that you can get it for the lowest possible price. Spencer describes the current housing market as: “…a pitched battle between buyers and sellers.” With all but the most desperate vendors being willing to reduce prices.

Show me the Money! Show me the Money!

My concern is with a lot of the advice that is in Tip number 2: ‘Turn Detective’. I’ll let Spencer’s own soulless words immortalise him here:

“Ideally, you should meet Mr and Mrs Vendor separately and ask them both about their situation, reasons for moving, forward plans, marketing history and ideal timescales. If you’re viewing with your own partner, split up and speak to them individually. Are both partners obviously in residence? Do they share the same views or even speak to one another? Do they share the same bedroom?”

And here is the creepiest thing I have ever read in an article on house buying. In fact it is the creepiest bit of journalist-proffered advice I have ever read on any subject in any newspaper: “Poke your head around the children’s bedroom door and ask whether they’re looking forward to their new school. They’re all polite questions but with a specific agenda in mind – getting enough information to beat down the price.”

The thinking here is obviously that if the children are looking forward to moving then you can bust the parents budget by knowing that they are heart set on keeping their children happy. In other words, Spencer is recommending that you use other people’s children as leverage against their own parents so that you can profit from it.

And in Point 10 Phil Spencer just about sums up this bent state of his own moral fibre: “…don’t allow principles to block progress – and don’t expect any favours.”

…..to be continued tomorrow on Bent Society.

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References

Spencer, P. (2008) TREAT ‘EM MEAN, KEEP ‘EM KEEN. The Sunday Times, The Market. (Property Section) pp. 12-13. March 30.