RE: WAR STORIES

Yesterday, Akin left a comment on my post War Stories. He wondered whether folks working in finance had more than one head. Their heads keep getting chopped off, yet there is never a shortage of people in line for the next cycle.

Makes one wonder if people in the financial sector have more than one head and their thinking with the wrong head caused the problems we now have.

As cheesy as it may sound they just keep coming back for more.

But the 36-year-old entrepreneur already had his eyes on a new bike. In August he launched National Home Auction, which runs public auctions of foreclosed property on behalf of big lenders such as Citibank (C), GMAC (GM), and Wachovia (WB). In founding the new business, Knott relied on contacts he'd made during his decade in the mortgage business. He also brought along 10 people from his former company. And once again, business is booming. "Banks are being overrun by the assets coming in," he says.

BusinessWeek.