Wednesday, December 12, 2007

The real agenda with the Bush foreclosure plan

You think the current administration really cares about the homeowners in danger of foreclosure? I. Think. Not... Am I surprised, and should you be? Hell. No...

See details here and what Treasury Sec. Henry Paulson revealed.

9 comments:

MM said...

wow, that is some cheeky shit, and totally fitting from the Bush gang. Just looking out after their own....

chris said...

post like this needs a little more context - ie, why bother clicking on the link, tell me what i'm going to see and why i care. one or two sentences.

otherwise just looks like a link farm.

ryan said...

I agree with Chris on this one. I want to hear your comments on the article before giving mine. I mean I want to read your blog and the links just add to YOUR commentary.

ryan said...

The comments and op ed pieces on this are everywhere. Here's a great one from Market Watch...I love lists.

http://www.marketwatch.com/news/story/13-reasons-why-bushs-mortgage/story.aspx?guid=9CE18A60-C0CF-4CB4-A38B-6AFFE1D6E37E&dist=SecMostMailed

D Gordon said...

Chris and Ryan, good points - thanks. Altho i do want to mix in some topics once in awhile that speak for themselves. When I read some of the other good RE blogs, I don't necessarily want their intro commentary on every topic. But even if it's just a short agreeable intro to the link, you make a good call. Thanks, and keep posting.

tk said...

As with the others, I agree that you need to add some of your own commentary. Otherwise it has nothing to do with you and your opinions, and after all isn't that why I would be reading your blog and not someone else's.
That being said, anyone who bought a house with an adjustable mortgage and didn't foresee that the market was going down is a fool and deserves to end up insolvent. Housing in California never goes down, my ass. Markets correct themselves all the time because that's what they do. They are designed to punish the foolish and ignorant

D Gordon said...

TK - could not agree with you more... you cold-hearted bastage! just kidding. It truly is a sad ending for many who got sucked into the dream of quick and easy profits via overnight appreciation in real estate. But that is how the market plays out and it is imperative.

I will add more commentary on topics as suggested. I need to keep you interested!

thanks.

Anonymous said...

Those who ignore history are destined to repeat it... (Anybody remember the Bay Area market of the late-80's/early-90's?)

Some interesting charts here:
http://www.realestatedecline.com/
housingbubblecharts.htm

I agree with TK. While the fallout appears to be much greater this time around, most people blindly dove in head-first in hopes of turning an easy buck without really thinking about the long term. Why do we expect the Government to step in and clean up the messes we've got ourselves into?

If daddy bails them out time and time again, how is one ever to learn his lesson?

D Gordon said...

Anonymous- thanks for the link. Great site and charts. It looks pretty obvious as to where we are headed from here... it's just the severity and timeframe that is impossibly to predict.

If the gov't interferes with the natural market correction process, it will only exacerbate the already huge problem at hand.