[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.

[gandalf]

Government is not the problem. Government had a PROPER ROLE in regulating the financial markets, as it did since the Great Depression. Dismantling of government regulation of the financial industry over the last 10-15 years is one of the principal enabling reasons for the economic meltdown that’s occurred.

Context matters here, Joe Homeowner is a minor part of the problem. Foreclosures in the ‘retail’ housing market are the tip of the iceberg. 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.

The amounts DWARF the total sum value of all of the housing stock in America. The sum total value of all of our houses is only about $20T. Conservative estimates put the amount of fraud in the hundreds of trillions of dollars. It dwarfs the entire annual U.S. GDP — every single dollar that changes hands in the US in the course of a year. That’s about 13 trillion per year.

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.

[gandalf]

Government is not the problem. Government had a PROPER ROLE in regulating the financial markets, as it did since the Great Depression. Dismantling of government regulation of the financial industry over the last 10-15 years is one of the principal enabling reasons for the economic meltdown that’s occurred.

Context matters here, Joe Homeowner is a minor part of the problem. Foreclosures in the ‘retail’ housing market are the tip of the iceberg. 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.

The amounts DWARF the total sum value of all of the housing stock in America. The sum total value of all of our houses is only about $20T. Conservative estimates put the amount of fraud in the hundreds of trillions of dollars. It dwarfs the entire annual U.S. GDP — every single dollar that changes hands in the US in the course of a year. That’s about 13 trillion per year.

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.

[gandalf]

Government is not the problem. Government had a PROPER ROLE in regulating the financial markets, as it did since the Great Depression. Dismantling of government regulation of the financial industry over the last 10-15 years is one of the principal enabling reasons for the economic meltdown that’s occurred.

Context matters here, Joe Homeowner is a minor part of the problem. Foreclosures in the ‘retail’ housing market are the tip of the iceberg. 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.

The amounts DWARF the total sum value of all of the housing stock in America. The sum total value of all of our houses is only about $20T. Conservative estimates put the amount of fraud in the hundreds of trillions of dollars. It dwarfs the entire annual U.S. GDP — every single dollar that changes hands in the US in the course of a year. That’s about 13 trillion per year.

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.

[gandalf]

Government is not the problem. Government had a PROPER ROLE in regulating the financial markets, as it did since the Great Depression. Dismantling of government regulation of the financial industry over the last 10-15 years is one of the principal enabling reasons for the economic meltdown that’s occurred.

Context matters here, Joe Homeowner is a minor part of the problem. Foreclosures in the ‘retail’ housing market are the tip of the iceberg. 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.

The amounts DWARF the total sum value of all of the housing stock in America. The sum total value of all of our houses is only about $20T. Conservative estimates put the amount of fraud in the hundreds of trillions of dollars. It dwarfs the entire annual U.S. GDP — every single dollar that changes hands in the US in the course of a year. That’s about 13 trillion per year.

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.

[gandalf]

Government is not the problem. Government had a PROPER ROLE in regulating the financial markets, as it did since the Great Depression. Dismantling of government regulation of the financial industry over the last 10-15 years is one of the principal enabling reasons for the economic meltdown that’s occurred.

Context matters here, Joe Homeowner is a minor part of the problem. Foreclosures in the ‘retail’ housing market are the tip of the iceberg. 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.

The amounts DWARF the total sum value of all of the housing stock in America. The sum total value of all of our houses is only about $20T. Conservative estimates put the amount of fraud in the hundreds of trillions of dollars. It dwarfs the entire annual U.S. GDP — every single dollar that changes hands in the US in the course of a year. That’s about 13 trillion per year.

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.

[gandalf]

Points about regulations are well-taken. Much of it is in need of reform.

Something in the financial reform bill that caught my attention involves attempts to change the relationship between rating agencies and the banks. Current practice, rating agencies are paid by the banks to rate their products, so there’s an inherent conflict of interest. Changing this would be an example of fixing financial regulations — and good governance.

[gandalf]

Points about regulations are well-taken. Much of it is in need of reform.

Something in the financial reform bill that caught my attention involves attempts to change the relationship between rating agencies and the banks. Current practice, rating agencies are paid by the banks to rate their products, so there’s an inherent conflict of interest. Changing this would be an example of fixing financial regulations — and good governance.

[gandalf]

Points about regulations are well-taken. Much of it is in need of reform.

Something in the financial reform bill that caught my attention involves attempts to change the relationship between rating agencies and the banks. Current practice, rating agencies are paid by the banks to rate their products, so there’s an inherent conflict of interest. Changing this would be an example of fixing financial regulations — and good governance.

[gandalf]

Points about regulations are well-taken. Much of it is in need of reform.

Something in the financial reform bill that caught my attention involves attempts to change the relationship between rating agencies and the banks. Current practice, rating agencies are paid by the banks to rate their products, so there’s an inherent conflict of interest. Changing this would be an example of fixing financial regulations — and good governance.

[gandalf]

Points about regulations are well-taken. Much of it is in need of reform.

Something in the financial reform bill that caught my attention involves attempts to change the relationship between rating agencies and the banks. Current practice, rating agencies are paid by the banks to rate their products, so there’s an inherent conflict of interest. Changing this would be an example of fixing financial regulations — and good governance.

[Author]

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