Tuesday, January 1, 2008

Welcome to 2008 - Happy New Year

As we wake up to our new year I have no idea what is going on with the political media machine and the current state of pre-election hype. It's kind of nice. There will be plenty of time to play catch up before November.

I'm sure the writers understand that some of us are going to be sleeping in. As such, they probably don't want a whole lot to happen today. At least in the public eye. It would be a great day to send couriers around to the different players and unveil the next plot change behind closed doors.

Maybe that means we'll get some really interesting entertainment from the candidates over the next week or so. In any case, I'm leaving the TV and Internet in the "news free zone" today...
Posted by Blog Friend at 11:46 AM

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The Mortgage Crisis

The mortgage crisis could not have been an accident. The people that "approved" the mortgages KNEW that:

  1. Were going to have prohibitive payments in 12 to 24 months
  2. Were going to be on property worth far less than what they sold for within 12 to 24 months
  3. Would be forclosed on because they couldn't sell for the amount of the mortgage

Bankers blame it on homeowners making bad decisions or not having foresight. However, those bankers get very uncomfortable when you point out that these mortgage were all approved by bankers that get PAID to know the market and it's trends.

When you point out that regular people like you and I saw this coming back in 2004/2005, they start to tap their fingers and look around nervously.

The short answer is that they set us up and we don't know "why".

Mortgages traditionally require people prove they can make the payments even when the market is not headed down. The banks knew exactly what they were doing...

The Media On It's Knees

Why is it that the mainstream media is clamoring on their knees in front of Obama as if their unwarranted affection will somehow lower his zipper and give them what they so desperately seem to want?