The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (304906)	3/18/2011 1:56:42 AM
From: John Vosilla	Read Replies (1) of 306849

'John is RIGHT. Could it have been done better, in hindsight - SURE! Hindsight is 20-20. I'd LOVE to see some banksters go DOWN though, and that's all on O's Justice Dept.' The tea party and doom and gloomer types forget a lot. Starting with who was in total control deregulating everything when all those stupid 1% option arm no down no income loans went viral in 2003 and got packaged as high grade securities in an even bigger scam. Jeez they weren't even sold to Fannie or Freddie being non conforming. Anybody with any brains can look up these non conforming loans in the public records in any county and see for yourself. HELOC withdrawl made up close to half of the growth in GDP in 2004-06. What a real economy the Bush years ended up being..all the phoney wars and tax cuts for the rich and ruined hopes and dreams and credit ratings just to ensure relection in 2004 and a piddly 3M jobs over 8 years with huge stock market losses as a consolation prize.. We went from a 'cash is king' mentality in Fall 2008 when it looked like every bank was going under, losing 750k jobs a month, housing crashing everywhere and the credit markets frozen to 'cash is trash' today. That plus the stock market move up, the saving of the large banks and automotive industry, plus the now record profits in corporate America means they succeeded in their goals.. Of course the real economy still sucks. We probably both agree on that but it could have been so much worse like Spring 1932 around the corner..Need to unleash that corporate cash sitting dormant into public/private investment in infrastructure, manufacturing, technology,transportation networks and hybrids to create jobs here to compete globally again in the real economy and be independent of foreign oil. Much of the deficit comes from our bloated military industrial complex, the wars and Bush tax cuts for the rich. Go back to percentages by category as when Clinton left office and there should not be a problem.Also time soon to appoint someone like Pecora and get the robber barons.. en.wikipedia.org How much of this would the GOP be in favor of I ask?

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