All this bailout crap is just giving me a headache.
Doesn't anyone care how we GOT here? Wow. What a mess.
Subscribe to:
Post Comments (Atom)
Your link to the every day life of Brittany Nigh, the Real Estate world and Team Pedal Moraine happenings.
About Me
Links
Help educate mororists and cyclists
Creation's Beauty
Peeps
- Super Fly
- Velocorapture
- spicyride
- DANO
- Regina
- Mountaingoat News
- Gizmo
- Amelia
- S.M. Lukas
- Bubba
- T Bender
- Joe C.
- The Rusty Tool Shed
- Chris Strout
- Amy D
- Ronsta
- Kenny
- Carlos
- Scott Cole
- Renee
- Julie
- Neil S
- Coop
- bdog
- DIHAF
- SugsCandy
- Jay
- Mikey
- Nathan
- Marko
- Creepyfriendly
- Tristan
- Matter
- TJ Woodruff
- Jeff Kerkove
- McCrimmon Adventures
- Tim Drankus
- jwm
- drd
- Old n Slow
- Spinninmud
- Shawn Hauser
- Mark G
Blog Archive
-
▼
2008
(156)
-
▼
September
(16)
- Petie Came Home
- A weekend without racing
- Good Luck
- The secret Gila trail won't be a secret much longer
- What every office needs
- All this crap is giving me a headache
- Feeling kind of lost
- Cyclocross
- How Many of Me?
- Up North?
- The Levis Trow Camping Weekend
- Ahhhhh
- Rhinelander
- Kids
- More weekend fun
- So far, so fun
-
▼
September
(16)
8 comments:
Overzealous agents pricing houses through the roof for the past ten years to make a buck and creating a huge bubble that burst about 24 months ago.
I am kidding.
There are a lot of idiotic real estate agents, I'll give you that. But that's not what got us where we are. Those people had to get their loans somewhere. . . . .did they not have a clue what their payments would be? Why were they given loans for monthly payments they could not afford? Why do people live outside their means? Why is it ok to say "I can't make my payments anymore, here you go Government, take my house back"?
Education, that's what was/is needed. Education and stricter loan criteria (which is now in place). To be able to get a loan simply becuase you can fog a mirror is WRONG.
That's how we got where we are (in part).
I watched friends of mine get very RICH working at New Century mortgage
while basically raping their customers... the bailout will cost MORE than the Iraq 'war'
Credit Cards & home equity loans didn't help either. How about tax credits for SAVING MONEY.
no doubt our grandparents are saying; I told you so
We live in a band aide society.
We do live in a band aide society, which is ashamed. And it's too bad that there are bad lenders and bad real estate agents that aren't able to do their jobs appropriately and educate their buyers. And it's too bad that buyers don't stop to ask questions instead of just taking everything they're told as "the truth".
It will be interesting to see how things go over the next few months. I can tell you from my perspective that my buyers are having a harder time obtaining a loan - which I think is GREAT. I'm not a loan officer (nor do I play one EVER), but I'm glad to see that FINALLY people with very shaky credit, high-risk people are now being required to clean up their credit FIRST.
This was enabled by the government. The Wall Street Journal has been pointing out the improprieties and warning of the problems with Mae and Mac for many years. They also pointed out that even though these outfits could not produce financial, politicians still protected them as these politicians made lots of cash funneled directly to them and indirectly through "community organizations."
This goes back a long way. Clinton signed legislation weakening lending requirements.
The real problem was that politicians created a socialist/private hybrid where risk was basically insured by the government(the taxpayer) and the politically connected benefited handsomely as did the politicians through campaign donations.
Interesting article in Bloomberg. Starts a little slow.
http://tinyurl.com/445afb
the S&L (not Sat Night Live either!) bailout was $200 billion... do I see a pattern here? I doubt that either candidate has much of a chance of fixing this anytime soon.
I for one am glad to see the (over) building finally STOP.
The WSJ had an excellent editorial pointing out that neither candidate knows what he is talking about on the subject.
That is why politicians should not get involved in trying to play god. After basically subsidizing irresponsible behavior and shielding risky behavior from the normal consequences that one would experience in a free market they fueled the problem and now are asking surprised even though people have been documenting and warning about the problems for years.
Too much palm greasing to cut off the gravy train. Follow the money and you can see why congress looked the other way.
Post a Comment