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CKA Super Elite
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PostPosted: Tue Jan 08, 2008 2:37 pm
 


Funny video.


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PostPosted: Mon Feb 18, 2008 10:29 pm
 


We got to this mess because, a while ago, the "American dream" was renamed "the ownership society".


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PostPosted: Tue Feb 19, 2008 11:03 am
 


Easy to understand how it happened.

I've made a bunch of investments in 3rd mortgages from time to time and have been sometimes burned.

Agents styling themselves as "mortgage brokers" will promote these things and omit details or misrepresent the borrowers circumstances. They are only concerned in closing the deal and getting their commision.

In one instance a fellow needed a third---he had a certificate from his employer, bank statements as to the situation of his first mortgage and so on. I got suspicious because I could see no reason this guy couldn't get his mortgage renewed.

A bit of sleuthing revealed that the house was in the hands of a receiver in brankruptcy because his bank mortgage was in arrears for 5 years. The guy had quit his job to pursue a bogus comp claim. He was a drunk.


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PostPosted: Tue Feb 19, 2008 11:12 am
 


The problem in the USA is that we mortgaged our collective future in order to buy an economic 'boom' to make Presidents Clinton and Bush look good.

And now China has all our money.

We did it to ourselves.


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PostPosted: Tue Feb 19, 2008 3:24 pm
 


BartSimpson wrote:
The problem in the USA is that we mortgaged our collective future in order to buy an economic 'boom' to make Presidents Clinton and Bush look good.


The problem in the USA is that americans had stopped mortgaging enough of their collective future because they believe that the best way to actually solve urban and social problems is to have people owning their houses.


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