Bend over America!

By
Real Estate Agent with Orlando Area Real Estate Services

So far the market doesn't like it with futures showing losses across the board. That to me is minor as I feel we have slipped through the looking glass today.

I tried to contact both Florida Senators this morning. The Republican one had a full mail box. The Democrat one had a constantly busy line. I e-mailed them both.

And much to my surprise tonight it was the Democrat Bill Nelson who voted "NO" while the Republican Mel Martinez who voted to put you and me on the hook for the criminal goings on that have created this crisis.

So while the politicians from the Democrat side predominantly were doing more than encouraging lenders to loan money to people who had no chance of paying it back (more on that in the next couple of days including a class action lawsuit revealed!), it is now mainly the Democrats who are trying to blame Republicans for the mess!

To me, it makes no sense to lend money to homeless people so they can go and buy Caribbean islands - but that's just me.

And talking of me - if I mess up then it is ME who will sort out the mess. Two or three jobs if necessary, but I will be the one to take care of it. So why am I having to take care of someone else's mess? That my friends is a question I don't have the answer for.

Well apart from to say, brace yourselves and bend over America!

________________________________________________________________________________________________________

(Copyright © 2008 By Simon L Conway All Rights Reserved.)

Please give me a call if you have questions about the Central Florida real estate market.  You can reach me on 407 876 8200.  Also visit my web site at www.simonconway.net or www.move2orlando.net

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Tags:
financial crisis
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Rainmaker
242,875
Mike Wong
Keller Williams Realty Southwest - Sugar Land, TX
Realtor, GRI, Project Manager

Simon, I agree. Its a mess that responsible Americans did not create. It was created by irresponsible lenders and people who had no business making a home purchase.

Oct 01, 2008 11:21 PM #1
Rainer
100,660
Cheri Smith
Prudential Gary Greene, Cypress TX - Cypress, TX
Realtor Prudential Gary Greene

The sad thing Simon is that it will be back to business as usual because no real changes will ever be made. This bail out will be like putting a bandaid on an amputated limb.

 

Oct 01, 2008 11:44 PM #2
Rainer
33,213
Jay Allen
MovieVoice Production Co. - Paducah, KY
MovieVoice

The bailout is a great way for Henry Paulson to recover his recent, nearly $300 million loss from Goldman Sachs stock.  Paulson is trying to sell the country on the idea that we have a cash shortage (and he's done a pretty good job).  However, it reminds me that we had a rice shortage a few months ago, almost every recent year we've had a flu shot shortage, etc. - the only real shortages at the moment are apparently with gas stations in the south running out of fuel.

Oct 01, 2008 11:50 PM #3
Ambassador
1,928,202
Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Simon- I was very dissapointed, a 128 page report turned into over 400 pages. Dangling goodies, candies and carrots in from of both parties, here, horsey, horsy, here, doggie, doggie, vote yes to your special interests! And screw the American people. The sky is falling is a bunch of #$&^.

All they had to do was to suspend market to market valuations and cut the capital gains tax. So simple, yet they do not know how to do anything that is simple or practical.

And who but Chris Dodd, gets to be on the committee!!!!! He should be indicted. I am mad as heck.

Oct 02, 2008 12:35 AM #4
Rainer
28,213
NJ (Nori) Bosley
*TBD* - Madison-on-the-Lake, OH

Simon,

I told you awhile back when you posted on your blog about the bailout, "Bend over and welcome to the good ole US of A"...................I was hoping that wouldn't end up being true but as you well know, our government just screwed you, me and everyone we know.  They seem to forgot "who" they work for.  It's like the government is your employee and they come to work and tell you what the hell to do and spend your money on everyday and at the end of the month you pay that employee for bossing you around all month. Makes no damn sense at all. I'M PISSED!!!!!!!!!!!!!!!!!!

Oct 02, 2008 01:11 AM #5
Rainer
70,887
Susan McQuaide
Keller Williams - Simpsonville, SC

Simon - I have to take this one step further - they were not encouraging subprime loans, they were mandating it! When is someone going to stand up and say "Credit is not a civil right" - there, I just did..

Oct 02, 2008 05:43 AM #6
Rainmaker
293,053
Bob "RealMan" Timm
National Marketing Realtors - Minot, ND
Decades Of Service to the Greater Minot ND Area

Simon,

I was also surprised that our Democrat congressman (Kent Conrad) voted against it until I heard why, He feels we need more regulation on Wall Street. Isn't that typical, more regulation where it is not needed just to divert blame from congress where it belongs.

Bob Timm, Minot ND

Oct 02, 2008 07:32 AM #7
Ambassador
879,972
Larry Bettag
Larry Bettag - Cherry Creek Mortgage - Saint Charles, IL
Regional Vice-President

This "stimulus package" should just give $415,000 to every cognizant adult over the age of 18.  That'd be fine as well!  Even if they are homeless....

Oct 02, 2008 08:13 AM #8
Rainmaker
367,837
Kevin Robinson
Twin Falls, ID
High End Vacation Homes

Hey Simon,

I agree with you Simon. I do not need to bailed out. And if I did, I would bail myself out. I have been doing it since I was a kid. It just takes work.

Oct 02, 2008 09:48 AM #9
Rainer
32,136
Andy Raffle
Emery Federal Credit Union - Yardley, PA
Team Leader - NMLS#156564

Again, having a group of people (Congress) trying to fix a problem that thye created makes no sense whatsoever.

Oct 02, 2008 09:52 AM #10
Rainmaker
359,332
Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner
Chris Brown | Certified Mortgage Planners - Orlando, FL
Chris Brown 407.367.2974

markets are negative bcz we are far from passage.  it has to go back to the HOR now .  the same bill has to be approved from bouth houses to become a bill... identical.

 

chris the implementer

Oct 02, 2008 10:23 AM #11
Rainmaker
825,821
Nicholas Goglucci
South Florida Real Estate & Development, Inc. - Pompano Beach, FL
The Listing Whisperer

Simon ~ I am featuring this post because I feel this is exactly what we are doing. And it doesn't feel good!

Oct 02, 2008 03:52 PM #12
Rainer
38,293
Raylene Lewis
Century 21 Beal, Inc. - College Station, TX

I agree with you! Things really need to start changing.

Oct 02, 2008 04:17 PM #13
Rainer
37,658
Brenda Abide
Weichert Realtors Benchmark - Olive Branch, MS

Simon if you could have heard the calls to C-Span after the debate tonight you would have listened to caller after caller say they were not supporting either candidate and they were fed up with all the BS coming out of Washington from both parties.  Most of them voiced their disgust about the goverment putting the screws to the tax payers with all these bailouts for the Golden Parachute criminals.  

Personally I thought Palin knocked another home run.  She said she would clean up the corruption in Washington and Biden never said anything relating to that topic.  I am sure the liberal media will proclaim a Biden Victory. LOL  Funny thing is that most of the calls were either voting for McCain-Palin or voting for an independent. 

Palin is our only hope for change in my opinion.

Oct 02, 2008 10:49 PM #14
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