Breaking News Thread

[Flynbyu]

The economy will go up, and crash down.  Thats just how it works, build it up till it breaks.  George Bush was just the person standing when the music stopped.  Nothing more, nothing less.

I some-what agree with that, but the writing was on the wall. His economic team dropped the ball in my opinion. Greenspan even said it was coming. I do feel he could have been a much more pro-active.

~Brian

[socalrappy700]

The economy will go up, and crash down.  Thats just how it works, build it up till it breaks.  George Bush was just the person standing when the music stopped.  Nothing more, nothing less.

I some-what agree with that, but the writing was on the wall. His economic team dropped the ball in my opinion. Greenspan even said it was coming. I do feel he could have been a much more pro-active.

~Brian

What could be done?  The government is messy and is a huge tax expense.  You don't want to get them involved in our free market economy until there is no choice....much like what they did.  And then we have our uber smart American people, they didn't want to believe it was coming so the kept the blinder on and just kept on buying up houses at crazy prices at even crazier loans.  Then they would cash any equity they had in their house plus at least 10% and blow it on new cars, truck and toys....even if they couldn't afford the rate after it adjusted.  Or they really wanted that rail or nice boat so they took out a 30 YEAR note on it, trashed the boat for awhile and then dumped it back on the bank once things got bad.  Not much anyone could do to stop this train wreck, sad....but it needed to happen.

[Peelz]

I knew you dorks would take my joke and make it serious. Totally kidding.

[Flynbyu]

Not to get into this mess again, but the current administration was responsible for relaxing lending practices that resulted in mass fraud in lending practices. Those practices forced the hand in inflated home prices with bogus values, especially in your former state California.

The mortgage crisis and the ongoing U.S. deficit crisis that has soared out of control under Bush's watch. The U.S. national debt is now over $9 trillion. That amounts to over $30,000 for every man, woman and child in the country. The ridiculous spending, along with an $80 billion dollar a month war has put you and I in this mess.

Did it need to happen?  No. It just needed to stop! It would have never happened if it had not been allowed. Since it did happen, it's unfortunate that's the only way it was able to be stopped. That as you know came at the cost of investors, and millions of hard working Americans like you and I.

It's water under the bridge now, and we are all paying. I wish George and Laura well. I think she did a good job as the First Lady. She was a big advocate on literacy.

~Brian

[socalrappy700]

It was not the current administration that relaxed the lending practices, that is false.  Those where already in place.

Again, what could have been done to stop it?  Sometimes the solution is as costly as the problem.  And spending didn't change, every administration spending was out of control IMO, Bush is no different. 

Again, the economy goes up and down, nothing you can do to change it and its a waste of time to try and blame someone for it. 

And I agree about Laura, she was a great First lady.

[Colorado700R]

http://www.huffingtonpost.com/2008/12/09/following-blagojevich-arr_n_149639.html


:grin_nod:

[Flynbyu]

It was not the current administration that relaxed the lending practices, that is false.  Those where already in place.

Again, what could have been done to stop it?  Sometimes the solution is as costly as the problem.  And spending didn't change, every administration spending was out of control IMO, Bush is no different. 

Again, the economy goes up and down, nothing you can do to change it and its a waste of time to try and blame someone for it. 

And I agree about Laura, she was a great First lady.

This is where I strongly disagree with you. There were more home loans originated over the last eight years than any other time in history. If they were already in place, then we wouldn't have had a record number of foreclosures over the past eight years. It helped people like me, but the lending practices were too relaxed.

I agree, it's a waste of time to try to blame someone for it, but it should have never happened in the first place.

Anyone watching the innaguration?

~Brian

[Flynbyu]

http://www.huffingtonpost.com/2008/12/09/following-blagojevich-arr_n_149639.html


:grin_nod:

FTW!

Hilarious.

~Brian

[Krandall]

I'm watching it!   

[Flynbyu]

This just in:

Car jackings are at an all time low today in Washington, D.C..



~Brian

[socalrappy700]

This just in:

Car jackings are at an all time low today in Washington, D.C..



~Brian

Damn, that was cold.

[Krandall]

 

what the heck is that on Auretha Franklens Head. (however her name is spelt)

[socalrappy700]

It was not the current administration that relaxed the lending practices, that is false.  Those where already in place.

Again, what could have been done to stop it?  Sometimes the solution is as costly as the problem.  And spending didn't change, every administration spending was out of control IMO, Bush is no different. 

Again, the economy goes up and down, nothing you can do to change it and its a waste of time to try and blame someone for it. 

And I agree about Laura, she was a great First lady.

This is where I strongly disagree with you. There were more home loans originated over the last eight years than any other time in history. If they were already in place, then we wouldn't have had a record number of foreclosures over the past eight years. It helped people like me, but the lending practices were too relaxed.

I agree, it's a waste of time to try to blame someone for it, but it should have never happened in the first place.

Anyone watching the innaguration?

~Brian

Thats an easy one.  There were more homes originated over the last 8 years due to the great market and the huge amount of investors buying when times were good.  This is also the reason there wasn't a record number of foreclosures.  Times were good and people were just able to refinance if they got into a pinch. 


And I just got done watching history.  Truly breathtaking.

[Flynbyu]

I may go buy a few magazines and newspapers now.


He's got a huge plate in front of him.


~Brian

[socalrappy700]

When I was at the airport I saw 17 mags on the rack with his picture on the front of it.  Funny, but true.