[TheBreeze]

I’d like to take this opportunity to thank Clinton for 8 years of uninterrupted prosperity. There’s no question that the Clinton years were the most beneficial to all Americans out of the last 50 years. There was an unprecedented bull market, commodity prices declined, inflation was kept in check, innovation flourished, and every American had a chance to be successful.

Thank you, Bill. You were the greatest President of the last 50 years. May Obama clean up the messes of the current President Chimpy Bush as you cleaned up the messes of Bush I the Failure.

[TheBreeze]

I’d like to take this opportunity to thank Clinton for 8 years of uninterrupted prosperity. There’s no question that the Clinton years were the most beneficial to all Americans out of the last 50 years. There was an unprecedented bull market, commodity prices declined, inflation was kept in check, innovation flourished, and every American had a chance to be successful.

Thank you, Bill. You were the greatest President of the last 50 years. May Obama clean up the messes of the current President Chimpy Bush as you cleaned up the messes of Bush I the Failure.

[TheBreeze]

I’d like to take this opportunity to thank Clinton for 8 years of uninterrupted prosperity. There’s no question that the Clinton years were the most beneficial to all Americans out of the last 50 years. There was an unprecedented bull market, commodity prices declined, inflation was kept in check, innovation flourished, and every American had a chance to be successful.

Thank you, Bill. You were the greatest President of the last 50 years. May Obama clean up the messes of the current President Chimpy Bush as you cleaned up the messes of Bush I the Failure.

[TheBreeze]

I’d like to take this opportunity to thank Clinton for 8 years of uninterrupted prosperity. There’s no question that the Clinton years were the most beneficial to all Americans out of the last 50 years. There was an unprecedented bull market, commodity prices declined, inflation was kept in check, innovation flourished, and every American had a chance to be successful.

Thank you, Bill. You were the greatest President of the last 50 years. May Obama clean up the messes of the current President Chimpy Bush as you cleaned up the messes of Bush I the Failure.

[TheBreeze]

I’d like to take this opportunity to thank Clinton for 8 years of uninterrupted prosperity. There’s no question that the Clinton years were the most beneficial to all Americans out of the last 50 years. There was an unprecedented bull market, commodity prices declined, inflation was kept in check, innovation flourished, and every American had a chance to be successful.

Thank you, Bill. You were the greatest President of the last 50 years. May Obama clean up the messes of the current President Chimpy Bush as you cleaned up the messes of Bush I the Failure.

[TheBreeze]

[quote=fat_lazy_union_worker]

Suit yourself. You’ll be in the 40ies one day, and one you’ll realize that most people around you are much younger and more productive that you are… I’m not close to that age, but getting there.[/quote]

FLUW, the key is to work smarter, not harder. If a young, go-getter comes into your group you just have to find a way to get credit for his or her work. Have the politically clueless, but hard-working whippersnapper do all the grunt work while you present the finished product or proposal to upper management. This is what all good managers do.

You just have to learn to play the political game. It’s not about how productive you are, it’s about how productive upper management thinks you are. 😉

[TheBreeze]

[quote=fat_lazy_union_worker]

Suit yourself. You’ll be in the 40ies one day, and one you’ll realize that most people around you are much younger and more productive that you are… I’m not close to that age, but getting there.[/quote]

FLUW, the key is to work smarter, not harder. If a young, go-getter comes into your group you just have to find a way to get credit for his or her work. Have the politically clueless, but hard-working whippersnapper do all the grunt work while you present the finished product or proposal to upper management. This is what all good managers do.

You just have to learn to play the political game. It’s not about how productive you are, it’s about how productive upper management thinks you are. 😉

[TheBreeze]

[quote=fat_lazy_union_worker]

Suit yourself. You’ll be in the 40ies one day, and one you’ll realize that most people around you are much younger and more productive that you are… I’m not close to that age, but getting there.[/quote]

FLUW, the key is to work smarter, not harder. If a young, go-getter comes into your group you just have to find a way to get credit for his or her work. Have the politically clueless, but hard-working whippersnapper do all the grunt work while you present the finished product or proposal to upper management. This is what all good managers do.

You just have to learn to play the political game. It’s not about how productive you are, it’s about how productive upper management thinks you are. 😉

[TheBreeze]

[quote=fat_lazy_union_worker]

Suit yourself. You’ll be in the 40ies one day, and one you’ll realize that most people around you are much younger and more productive that you are… I’m not close to that age, but getting there.[/quote]

FLUW, the key is to work smarter, not harder. If a young, go-getter comes into your group you just have to find a way to get credit for his or her work. Have the politically clueless, but hard-working whippersnapper do all the grunt work while you present the finished product or proposal to upper management. This is what all good managers do.

You just have to learn to play the political game. It’s not about how productive you are, it’s about how productive upper management thinks you are. 😉

[TheBreeze]

[quote=fat_lazy_union_worker]

Suit yourself. You’ll be in the 40ies one day, and one you’ll realize that most people around you are much younger and more productive that you are… I’m not close to that age, but getting there.[/quote]

FLUW, the key is to work smarter, not harder. If a young, go-getter comes into your group you just have to find a way to get credit for his or her work. Have the politically clueless, but hard-working whippersnapper do all the grunt work while you present the finished product or proposal to upper management. This is what all good managers do.

You just have to learn to play the political game. It’s not about how productive you are, it’s about how productive upper management thinks you are. 😉

[TheBreeze]

[quote=patientrenter]

Was Joe an idiot to take a loan he didn’t intend to repay out of his income? Absolutely. Was Mr Banker / Investor an idiot to make the loan? Absolutely. [/quote]

Actually, you are dead wrong. The home “buyers” who made out best over the last 8 years were those who didn’t put anything down and got either an Interest-Only mortgage or a Pay Option mortgage. Because mortgages are non-recourse, not putting anything down and paying only the interest (or less) allows the “buyer” to take any appreciation upside while sticking any depreciation downside to the bank (by defaulting). Home buyers who got screwed the worst over the last 8 years were those who made down payments as that down payment has now evaporated with home price depreciation.

Likewise, once bankers were able to sell mortgages instead of keeping them on their books, they only focussed on the up-front fee associated with making the mortgage and didn’t worry about the quality of the mortgage as it didn’t affect them in the slightest.

So unfortunately, bankers and buyers were mostly behaving rationally in the environment that existed over the past 8 years. It’ll be up to Obama to change the effed-up incentives that George Bush put in place over the last 8 years.

[TheBreeze]

[quote=patientrenter]

Was Joe an idiot to take a loan he didn’t intend to repay out of his income? Absolutely. Was Mr Banker / Investor an idiot to make the loan? Absolutely. [/quote]

Actually, you are dead wrong. The home “buyers” who made out best over the last 8 years were those who didn’t put anything down and got either an Interest-Only mortgage or a Pay Option mortgage. Because mortgages are non-recourse, not putting anything down and paying only the interest (or less) allows the “buyer” to take any appreciation upside while sticking any depreciation downside to the bank (by defaulting). Home buyers who got screwed the worst over the last 8 years were those who made down payments as that down payment has now evaporated with home price depreciation.

Likewise, once bankers were able to sell mortgages instead of keeping them on their books, they only focussed on the up-front fee associated with making the mortgage and didn’t worry about the quality of the mortgage as it didn’t affect them in the slightest.

So unfortunately, bankers and buyers were mostly behaving rationally in the environment that existed over the past 8 years. It’ll be up to Obama to change the effed-up incentives that George Bush put in place over the last 8 years.

[TheBreeze]

[quote=patientrenter]

Was Joe an idiot to take a loan he didn’t intend to repay out of his income? Absolutely. Was Mr Banker / Investor an idiot to make the loan? Absolutely. [/quote]

Actually, you are dead wrong. The home “buyers” who made out best over the last 8 years were those who didn’t put anything down and got either an Interest-Only mortgage or a Pay Option mortgage. Because mortgages are non-recourse, not putting anything down and paying only the interest (or less) allows the “buyer” to take any appreciation upside while sticking any depreciation downside to the bank (by defaulting). Home buyers who got screwed the worst over the last 8 years were those who made down payments as that down payment has now evaporated with home price depreciation.

Likewise, once bankers were able to sell mortgages instead of keeping them on their books, they only focussed on the up-front fee associated with making the mortgage and didn’t worry about the quality of the mortgage as it didn’t affect them in the slightest.

So unfortunately, bankers and buyers were mostly behaving rationally in the environment that existed over the past 8 years. It’ll be up to Obama to change the effed-up incentives that George Bush put in place over the last 8 years.

[TheBreeze]

[quote=patientrenter]

Was Joe an idiot to take a loan he didn’t intend to repay out of his income? Absolutely. Was Mr Banker / Investor an idiot to make the loan? Absolutely. [/quote]

Actually, you are dead wrong. The home “buyers” who made out best over the last 8 years were those who didn’t put anything down and got either an Interest-Only mortgage or a Pay Option mortgage. Because mortgages are non-recourse, not putting anything down and paying only the interest (or less) allows the “buyer” to take any appreciation upside while sticking any depreciation downside to the bank (by defaulting). Home buyers who got screwed the worst over the last 8 years were those who made down payments as that down payment has now evaporated with home price depreciation.

Likewise, once bankers were able to sell mortgages instead of keeping them on their books, they only focussed on the up-front fee associated with making the mortgage and didn’t worry about the quality of the mortgage as it didn’t affect them in the slightest.

So unfortunately, bankers and buyers were mostly behaving rationally in the environment that existed over the past 8 years. It’ll be up to Obama to change the effed-up incentives that George Bush put in place over the last 8 years.

[TheBreeze]

[quote=patientrenter]

Was Joe an idiot to take a loan he didn’t intend to repay out of his income? Absolutely. Was Mr Banker / Investor an idiot to make the loan? Absolutely. [/quote]

Actually, you are dead wrong. The home “buyers” who made out best over the last 8 years were those who didn’t put anything down and got either an Interest-Only mortgage or a Pay Option mortgage. Because mortgages are non-recourse, not putting anything down and paying only the interest (or less) allows the “buyer” to take any appreciation upside while sticking any depreciation downside to the bank (by defaulting). Home buyers who got screwed the worst over the last 8 years were those who made down payments as that down payment has now evaporated with home price depreciation.

Likewise, once bankers were able to sell mortgages instead of keeping them on their books, they only focussed on the up-front fee associated with making the mortgage and didn’t worry about the quality of the mortgage as it didn’t affect them in the slightest.

So unfortunately, bankers and buyers were mostly behaving rationally in the environment that existed over the past 8 years. It’ll be up to Obama to change the effed-up incentives that George Bush put in place over the last 8 years.

[Author]

Posts