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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Augustus Gloop who wrote (8983)	3/15/2008 2:58:03 PM
From: Oblomov	Read Replies (1) of 33421

>LOL...The loan originators financed those crap borrowers! Yes, but on the agreed-upon terms. Yes, my asset value is hurt by foreclosures. However, I have always thought of my house as a big-ticket consumption item rather than an asset. Perhaps this is because I live in a non-bubble area where the foreclosure rate was high (1st or 2nd highest metro are in foreclosures in the US) even during 2002-2005. I have owned my present house for over six years and will likely lose money on it even if I sell a few years from now. >Mark my words....some of these people are going to jail Some of them should and shall, no doubt. I do not trust our rulers to identify the real culprits. They will stop once they have found an attractive totem against which they will direct the ignorant public's rage. If they would persist in locating the true roots of this crisis, it would threaten their own power and call into question their own legitimacy to rule.

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