The boat turns slowly

[SD Realtor]

Gandalf you make it sound as if the govt had no idea of what was going on. Really? Do you really think the govt saw none of this coming?

While idiot bloggers like us were spouting about insolvency of the GSEs Barney Frank goes public and says the GSEs are in great condition?

Come on now…really?

Honestly as long as officials who are elected can be lobbied, and lobbied by ANYBODY be it corporations or individuals, the game is crooked and will always be so. It doesn’t matter who or when. There is corruption now, there was corruption in the 90s and in the 80s and guess what even before Reagan there was corruption.

Now the numbers are just much larger. It is a bigger game with bigger numbers. The larger a beauracracy becomes the more inefficient it gets and the more rife it gets with corruption. Growing our govt so large that it employs half the population is not the answer. Nor is creating a regulatory society.

Dumbing things down, making them very simple and promoting efficiency is a perfectly valid solution. Yes credit expansion is the root of the problem but the govt has failed to regulate and the job of regulation is immense. Back in the day unless you were a veteran you were coming up with 20% down period. No way around it.

Prices may not go down immediately but they will eventually. Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM. All that equity (and we talking trillions here) will not be able to inflate any other markets.

The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. It is to easy to say keep things as they are and let the govt babysit the entire industry because the govt surely is a superior entity that we can rely on for honesty and airtight regulation.

That is fairly laughable. I guess it is always easier for people to live with mediocrity and fall back on big brother to regulate things rather then accept radical change that would sharply reduce the regulatory structure and actually make things simple.

[gandalf]

Actually SDR, you and I are both saying similar things, but I don’t view ‘Government’ as the problem, and getting rid of government isn’t a real-world answer, it’s a political slogan. Remember, gutting regulation is part of what enabled the financial crisis to happen.

[quote=SD Realtor]Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM.[/quote]

Damn, I couldn’t agree more.

Now, how do we get all the bankers in the world to do the right thing? Because corporations don’t regulate themselves. They maximize profits. And that’s often across purposes with ‘doing the right thing’.

The answer is Government, which passes laws and regulates the behavior of private corporations and banks. Absent ‘Government’, your 20% down payment doesn’t happen. Lack of government involvement in regulating the financial industry is part of what enabled the financial crisis.

This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.

[gandalf]

Actually SDR, you and I are both saying similar things, but I don’t view ‘Government’ as the problem, and getting rid of government isn’t a real-world answer, it’s a political slogan. Remember, gutting regulation is part of what enabled the financial crisis to happen.

[quote=SD Realtor]Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM.[/quote]

Damn, I couldn’t agree more.

Now, how do we get all the bankers in the world to do the right thing? Because corporations don’t regulate themselves. They maximize profits. And that’s often across purposes with ‘doing the right thing’.

The answer is Government, which passes laws and regulates the behavior of private corporations and banks. Absent ‘Government’, your 20% down payment doesn’t happen. Lack of government involvement in regulating the financial industry is part of what enabled the financial crisis.

This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.

[gandalf]

Actually SDR, you and I are both saying similar things, but I don’t view ‘Government’ as the problem, and getting rid of government isn’t a real-world answer, it’s a political slogan. Remember, gutting regulation is part of what enabled the financial crisis to happen.

[quote=SD Realtor]Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM.[/quote]

Damn, I couldn’t agree more.

Now, how do we get all the bankers in the world to do the right thing? Because corporations don’t regulate themselves. They maximize profits. And that’s often across purposes with ‘doing the right thing’.

The answer is Government, which passes laws and regulates the behavior of private corporations and banks. Absent ‘Government’, your 20% down payment doesn’t happen. Lack of government involvement in regulating the financial industry is part of what enabled the financial crisis.

This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.

[gandalf]

Actually SDR, you and I are both saying similar things, but I don’t view ‘Government’ as the problem, and getting rid of government isn’t a real-world answer, it’s a political slogan. Remember, gutting regulation is part of what enabled the financial crisis to happen.

[quote=SD Realtor]Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM.[/quote]

Damn, I couldn’t agree more.

Now, how do we get all the bankers in the world to do the right thing? Because corporations don’t regulate themselves. They maximize profits. And that’s often across purposes with ‘doing the right thing’.

The answer is Government, which passes laws and regulates the behavior of private corporations and banks. Absent ‘Government’, your 20% down payment doesn’t happen. Lack of government involvement in regulating the financial industry is part of what enabled the financial crisis.

This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.

[gandalf]

Actually SDR, you and I are both saying similar things, but I don’t view ‘Government’ as the problem, and getting rid of government isn’t a real-world answer, it’s a political slogan. Remember, gutting regulation is part of what enabled the financial crisis to happen.

[quote=SD Realtor]Strict enforcement of tracking downpayment money for seasoning, along with a hard line that you can never borrow more then a given equity amout through seconds and such will also serve to prevent the home from becoming an ATM.[/quote]

Damn, I couldn’t agree more.

Now, how do we get all the bankers in the world to do the right thing? Because corporations don’t regulate themselves. They maximize profits. And that’s often across purposes with ‘doing the right thing’.

The answer is Government, which passes laws and regulates the behavior of private corporations and banks. Absent ‘Government’, your 20% down payment doesn’t happen. Lack of government involvement in regulating the financial industry is part of what enabled the financial crisis.

This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.

[jpinpb]

[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..

These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]

The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.

[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]

Very true.

[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]

That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.

[jpinpb]

[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..

These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]

The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.

[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]

Very true.

[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]

That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.

[jpinpb]

[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..

These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]

The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.

[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]

Very true.

[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]

That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.

[jpinpb]

[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..

These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]

The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.

[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]

Very true.

[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]

That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.

[jpinpb]

[quote=gandalf]In the past 15 years or so, large banks and financial institutions ‘created’ and then lost enormous, titanic sums of money in risky, leveraged and often fraudulent financial dealings…..

These ‘Banksters’ took our money, then used it to place bogus, leveraged bets in a giant global financial casino, until the music stopped playing, at which point they LOST our money. That’s the fucking issue. That’s why there’s a public bailout, because Citi, Chase, Goldman and the others lost our money. They are at the center of the universe in terms of blame. Joe Homeowner is a drop in the bucket.[/quote]

The banks got our money through taxpayers. They didn’t lose money in the end. The taxpayers did. There are regulations in effect. They are not ENFORCED. The fraud has been rampant and nothing has been done about it, yet the laws exist.

[quote=sdrealtor]It started much longer thna 15 years ago. It started in the Reagan Era where “greed became good”. Just like this ship turns slowly, the political actions of today are felt many years in the future. Most of our current economic issues are rooted firmly in the Reagan Era.[/quote]

Very true.

[quote=SD Realtor]The problem with this is that it is to simple and it scares people. It promotes saving and responsibility for homeownership which is unheard of. [/quote]

That’s how it was done back in the day. It can be done. It’s possible. It requires less consumerism and saving. A concept that is lost, particularly to today’s generation. Heck, even older generations have adapted to today’s ways.

[briansd1]

[quote=gandalf]This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.[/quote]

I agree.

The real estate bubble was made possible by Wall Street “innovation” and lack of government regulation.

Had the government not allowed toxic loans, we would not have had the bubble nor the crash. Bubbles happen because of financing and leverage.

And jpinpb would be happily growing a vegetable garden and orchard in her affordable own house in PB. 😉

But the downtown towers would not have been built so I wouldn’t be happily renting downtown for a bargain when compared to cost of ownership (for those who don’t know, $700 – $1,000 HOA downtown is very common).

[briansd1]

[quote=gandalf]This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.[/quote]

I agree.

The real estate bubble was made possible by Wall Street “innovation” and lack of government regulation.

Had the government not allowed toxic loans, we would not have had the bubble nor the crash. Bubbles happen because of financing and leverage.

And jpinpb would be happily growing a vegetable garden and orchard in her affordable own house in PB. 😉

But the downtown towers would not have been built so I wouldn’t be happily renting downtown for a bargain when compared to cost of ownership (for those who don’t know, $700 – $1,000 HOA downtown is very common).

[briansd1]

[quote=gandalf]This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.[/quote]

I agree.

The real estate bubble was made possible by Wall Street “innovation” and lack of government regulation.

Had the government not allowed toxic loans, we would not have had the bubble nor the crash. Bubbles happen because of financing and leverage.

And jpinpb would be happily growing a vegetable garden and orchard in her affordable own house in PB. 😉

But the downtown towers would not have been built so I wouldn’t be happily renting downtown for a bargain when compared to cost of ownership (for those who don’t know, $700 – $1,000 HOA downtown is very common).

[briansd1]

[quote=gandalf]This is my point. ‘Government’ is not bad. It’s the people in our current government who sold out to corporate America and gutted conservative and time-tested Depression-era banking regulations. The answer is to get involved and change out the people who made these stupid decisions.

For my part, I think fundamental change requires reducing the role money and fundraising plays in our political process.[/quote]

I agree.

The real estate bubble was made possible by Wall Street “innovation” and lack of government regulation.

Had the government not allowed toxic loans, we would not have had the bubble nor the crash. Bubbles happen because of financing and leverage.

And jpinpb would be happily growing a vegetable garden and orchard in her affordable own house in PB. 😉

But the downtown towers would not have been built so I wouldn’t be happily renting downtown for a bargain when compared to cost of ownership (for those who don’t know, $700 – $1,000 HOA downtown is very common).

[Author]

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