Congratulations! You're the Proud New Owner...

of potentially worthless pieces of paper valued at $700B!!!!! You've got to be kidding me! But, alas, we have reached the point in our society where 'instant gratification' and white-collar criminals have met. I'm writing from work, so when I get home I'll attached an excellent, low-budget powerpoint presentation on the subprime mess. It spells it out as simple as any thing I've seen or read.

True to my mission statement, it's time for some accountability. Clearly, the white-collar criminals figured out a way to tap into work arounds to the traditional way of securing a mortgage. How could someone with no job (and no requirement to verify employment) possibly afford a $500K house? Creative financing, that's how! There aren't nearly as many now as there were last year, but they are still out there, hiding amongst the shadows hoping that they can lure another unsuspecting victim into their 'creative' financing lair. So, while I hope we catch all the criminals, make them pay back the money, and make them suffer and lose their homes, the ol' foreclosed mortgaged homeowners bear some responsibility and need to be held to task for their piece in this debacle. Interestingly enough, it looks like only about 10% of all mortgages were effected. Can you imagine if we secured mortgage folks foreclosed. Our economy would really be in shambles. As it is, the only entity that could help did--the Feds. I am not for a big federal government and I support the free market economy, but sometimes equilibrium takes a generation to acheive and we simply can't wait that long. The Feds, with the power to tax (read 'generate income'), at least stuck their thumb into the leaking financial crisis dike. Obviously, only time will tell if this is a success.

Hey Baby,

This is my first, but not last post. I love you and I'm so proud of you. I hope you have a great day today and that everything you want to accomplish is successful!

Remember to order our phones.

Love you forever and always!

Becky

none

what is this

Into the Great Wide Open

Apologies to Tom Petty and his Heartbreakers. This is new ground for me, but so what? I've got my BS sheepskin tucked under my arm and busting thru the door to grad studies, hoping that in 2010 I add some more letters after my name. Every time I think of BS, MS, etc (Becky is saying PhD!!! What?), I can't help but think of Jerry Clower telling the story of the professor and the chauffeur. You'd had to been there! Anyway, feel free to talk about any and all, but be forewarned to accept what you do and say to be yours. None of this, 'what i meant when i said you were an idiot was....' Say what you mean. Mean what you say. From time to time I'll post things here that I think have relevance to the this blog's mission statement.