bailout: The Worst Is Yet To Come - What Will You Do About It? - 12/14/08 01:28 PM
***WARNING*** Not for the faint of heart. The housing market has imploded and the economy, built on credit only in recent years, has tumbled down on top of it. The elected officials (please never use the word "leaders") have done the equivalent, and please excuse the comparison, of a wife-beater apologizing for beating his wife again.
The US economy is in a downward spiral and injections of trillions of un-backed dollars is only giving the appearance of rescue. Nothing is being rescued but, once again, we are letting these elected officials pretend to be economists and business people who have something … (12 comments)

bailout: Unbelievable Graph Comparing Government Bailouts Since 1970 - 11/26/08 11:32 PM
This really doesn't need a lot of explanation -just a bedpan. It makes me sick to read this knowing this was the most massive transfer of wealth in the history of the world. This cannot be blamed on any one man more than any one man can "fix it". This took the penultimate combination of greed and ignorance. Legislation will not prevent a repeat act possibly within some of our lifetimes.

It's pretty amazing. I actually did a bailout graphical comparison by year but 2008 was so big that only 1989 even registered. Let's face it, in the last 4 … (5 comments)

bailout: Correction, Dave Ramsey, The Banks and the FDIC Are NOT Okay - 09/22/08 10:06 AM
I have respect for Dave Ramsey. His plan for everyone to be debt free is a good one. Although he and many of his disciples are like hard core vegetarians who believe their way is the only way and anything variant is highly foolish I do believe that the non-mega investor can live and should live debt-free.
But this is not my point - and I'm not here to shoot at Dave Ramsey. I am writing to put the situation into perspective and to demonstrate that people, like Dave, should not be on national television speaking out of their class.
This … (5 comments)

bailout: Happy Birthday Sub-Prime Bust (HSBC Write-Down 2/8/7) - 02/08/08 10:47 AM
Real Estate, Stocks, Bonds, Liquidity And Magic (But Who'll Stop The Pain?)
One year ago today HSBC dropped the sub-prime bombshell - the 10.5 billion dollar write-down that torpedoed the subprime market. Of course they weren't the first but they were the first major write-down. Real estate, banking and candy manufacturing are inextricably woven together. So if they are highly related what are the indicators that point towards any sustainable change? Income was up in December 1/2% but the nation is still over-leveraged (to the hilt).Is this a base building market? The dow is down between 15 and 20% - is this … (5 comments)

bailout: Never Deed (Quit Claim) Your Property To Avoid Foreclosure EVER - 01/19/08 05:54 PM
Listen folks, there are sharks in the water. Investors are coming out of the woodwork looking for people who are facing foreclosure so they can take advantage of them. There are many, many reasons you should never quit claim your property to ANYONE else EVER. Here are just a few.
1. The reason you are facing foreclosure is probably because you haven't called your lender to ask for help. Not the servicer - that's a collection agency. Call the LENDER. Can't find the lender? Call a TITLE AGENT in your area and ask them to find the lender for you. Trust me, … (11 comments)

bailout: Conspiracy Theories - Why The Government Tanked Real Estate - 12/30/07 01:45 PM
It's true, I read it on the Internet how the FHA, HUD, Fed and even "the White House" drew up a master plan and conspired with the media and Wall Street to abruptly terminate the rapid growth in real estate because the stock market needed those investments so the capital could be put to work to perpetuate the evil Republican money machine that even Bill and Hillary depend on to fund their socialist facade they use to keep the sheeple in line.
"The money-grubbing lawyers are about to wipe out the money-grubbing bankers." That must be one of my favorite quotes from … (8 comments)

bailout: Here We Go ... Round And Round - 11/20/07 10:04 PM
Remember how a few months ago before all this mess really got cranking I wrote that the constant berating from the masses saying banks and lenders were keeping the little man down by not providing mortgages for them? Then the media picked up on it and started hammering the media, stirring up the wasp nest on Capital Hill and the industry capitulated and let the undeserving have a play at it.
Surprise, surprise! People with crappy credit don't pay their bills!
Anyway, here we go again. Pretty much the only loans that have gone away (with a few exceptions) are the loans that … (4 comments)

bailout: Ready for Turkey Talk Thursday? "How's Biz? I Hear The Market Crashed ..." - 11/20/07 09:20 PM
Ready to answer those questions? Uncle Joe will ask, so will cousin Mary. You'll likely get to address the sub-groups and the full group at least once.
What will you say?
Now I'm not suggesting you will be facing the Great Inquisition but your family may be looking for some re-assurance and some hope. Better yet your cocky bro-in-law might be looking to outbid you for top performer in the family. Not that any of you are into that stuff.
What will you say?
I wonder how many of us will say, "Oh this industry is just falling apart. I don't know when it will … (6 comments)

bailout: RealtyTrac Foreclosure Data Overstated By Twenty Percent? Major Problem! - 10/15/07 01:54 PM
RealtyTrac has become a "go to" source for national and international journalists. Millions of people depend on their data to be accurate and factual. Yes, that should be a redundancy but allegedly there is an integrity issue. The Atlanta Journal & Constitution decided to do a little investigation on their own and compare the numbers. They weren't even close.
According to RealtyTrac there were 11,296 properties that entered foreclosure in September but the AJC found that data included 2,200 duplicates. That is a huge data integrity problem, people. When so many sources rely so heavily on this information a gaff like that … (2 comments)

bailout: "Only When We Are No Longer Afraid Do We Begin To Live" - Thompson - 09/13/07 08:07 PM
It is easy to take control of a person, or a country, when they are weakened by fear. From the sound of my phone and from reading ML Implode I would say at least our industry is somewhat paralyzed by fear. Oddly enough when our phone rings we are still able to accept applications and close loans. Hmmm.
Perhaps I am overly critical of the media and my accusation of their implicit involvement in the destruction of the sub-prime mortgage industry. What do you do when someone attacks someone you love? More than likely I am exhibiting some neanderthal, base human … (2 comments)

bailout: Three Point Video Blog (Still Hammering The Media) - 08/25/07 08:30 AM
Once I found out we could link a video blog here (thanks to Bryant Tutas and his "I'm Gonna Sell A House Today") you all now get to hear my southern accent and see me pounding the podium about the condition of our great industry. If you have any complaints please contact my managing agent, Mike Tyson.
One thing I find is that to say everything I want to say about the market today and how I truly believe it was created and fueled by the media for the insane purpose of toppling the largest industry in the nation is that … (4 comments)

 
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