Real Men/Women of Genius

[Bubblesitter]

A continuation from my previous post. I’m just doing some more venting after watching all the bad market news today!

We salute all the folks who in their small little way helped plung the world into financial chaos and will probably put the US into a recession.

A salute to the real men/women of genius.

1. The 20-something BMW-owning mortgage brokers working in the boilerroom of New Century Mortgage, and countless other subprime outfits.
2. The ratings agencies..S&P, Moody’s, Fitch, etc. who collected huge fees while looking the other way and mis-rating mortgage-backed and derivative securities.
3. Appraisers who buckled under pressure to “hit” the number.
4. Dishonest homeowners who fudged their income, job status, etc. “Hey everybody is doing it!”
5. The Fed for holding rates too low for too long.
6. Government Regulators who where essentially asleep at the wheel.
7. The Mainstream media who missed this story 3 years ago!

I can go on with 10 more. Do you folks have any more to add to this?

[bsrsharma]

“We salute all the folk”

On the flip side, we should also salute them for providing one of the largest stocks of affordable housing 2009 onwards. Without all the capital injection from the “investors”, we wouldn’t be having upwards of ten million excess homes in the country pushing down the prices to ground.

Just like WorldCom & Global Crossing bankrupted their “investors” but provided plentiful supply of cheap fiber optic lines underground making internet such a pleasure to use.

All part of “Creative Destruction” that is the beauty of free markets.

[bsrsharma]

“We salute all the folk”

On the flip side, we should also salute them for providing one of the largest stocks of affordable housing 2009 onwards. Without all the capital injection from the “investors”, we wouldn’t be having upwards of ten million excess homes in the country pushing down the prices to ground.

Just like WorldCom & Global Crossing bankrupted their “investors” but provided plentiful supply of cheap fiber optic lines underground making internet such a pleasure to use.

All part of “Creative Destruction” that is the beauty of free markets.

[bsrsharma]

“We salute all the folk”

On the flip side, we should also salute them for providing one of the largest stocks of affordable housing 2009 onwards. Without all the capital injection from the “investors”, we wouldn’t be having upwards of ten million excess homes in the country pushing down the prices to ground.

Just like WorldCom & Global Crossing bankrupted their “investors” but provided plentiful supply of cheap fiber optic lines underground making internet such a pleasure to use.

All part of “Creative Destruction” that is the beauty of free markets.

[Bubblesitter]

Gotta love Schumpeter’s “Creative destruction”. Other Schumpeter’s theory examples include the invention of the car that put the horse buggy whip makers out of business. The problem is it this housing crash will be painful for all in the next few years.

Here’s another….
We salute home builders who artificially kept sale pricing high while giving away tens of thousands of dollars in “upgrades”

[Bubblesitter]

Gotta love Schumpeter’s “Creative destruction”. Other Schumpeter’s theory examples include the invention of the car that put the horse buggy whip makers out of business. The problem is it this housing crash will be painful for all in the next few years.

Here’s another….
We salute home builders who artificially kept sale pricing high while giving away tens of thousands of dollars in “upgrades”

[Bubblesitter]

Gotta love Schumpeter’s “Creative destruction”. Other Schumpeter’s theory examples include the invention of the car that put the horse buggy whip makers out of business. The problem is it this housing crash will be painful for all in the next few years.

Here’s another….
We salute home builders who artificially kept sale pricing high while giving away tens of thousands of dollars in “upgrades”

[temeculaguy]

The plastic surgeons are worth a salute. As we usher out the heloc era and look back at at the boats, cars and homes that will be taken back by the banks, only the enhancements made by these dedicated professionals will remain as a reminder of a bygone era.

[temeculaguy]

The plastic surgeons are worth a salute. As we usher out the heloc era and look back at at the boats, cars and homes that will be taken back by the banks, only the enhancements made by these dedicated professionals will remain as a reminder of a bygone era.

[temeculaguy]

The plastic surgeons are worth a salute. As we usher out the heloc era and look back at at the boats, cars and homes that will be taken back by the banks, only the enhancements made by these dedicated professionals will remain as a reminder of a bygone era.

[Bubblesitter]

Good one Temeculaguy.

We salute you Sign Twirlers. You master of the twirl. Your masterful physical artwork has lured many a curious onlooker!

[Bubblesitter]

Good one Temeculaguy.

We salute you Sign Twirlers. You master of the twirl. Your masterful physical artwork has lured many a curious onlooker!

[Bubblesitter]

Good one Temeculaguy.

We salute you Sign Twirlers. You master of the twirl. Your masterful physical artwork has lured many a curious onlooker!

[Critter]

Let’s also salute the developers who took mediocare apartment units and made them into mediocre condos – some without washer/dryers in the units or garages (but they did have granite) – and then added HOA fees to the condo prices (same gardener though).

When they didn’t sell, some of these developers turned the condos back into apartments!

[Critter]

Let’s also salute the developers who took mediocare apartment units and made them into mediocre condos – some without washer/dryers in the units or garages (but they did have granite) – and then added HOA fees to the condo prices (same gardener though).

When they didn’t sell, some of these developers turned the condos back into apartments!

[Author]

Posts