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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: D. Long who wrote (204138)	4/25/2007 1:56:50 PM
From: Alan Smithee	Read Replies (1) \| Respond to of 793955

Another sub-prime lender bites the dust. 300 laid off after mortgage company suddenly folds Story Published: Apr 24, 2007 at 5:32 PM PDT Story Updated: Apr 25, 2007 at 6:51 AM PDT By April Zepeda Watch the story MOUNTLAKE TERRACE - Three hundred employees abruptly lost their jobs Friday, when a Snohomish County mortgage company abruptly closed its doors. Employees learned that Mortgage Investment Lending Associates - or MILA - was shutting down through an e-mail from the company's owner. They were given 15 minutes to clear out their desks and leave. "There have been between 25 and 30 companies who've either gone out of business or plan to close up since the beginning of 2007," said Rick Sharga of Realtytrac. MILA offered sub prime home loans, which looked last past bad credit. But delinquencies among sub-prime customers have skyrocketed, putting many lenders out of business. An untold number of MILA customers will now have to start the home loan application process all over - if they still qualify. "It could be to where there is just not a program for them," said Rhonda Porter of Mortgage Master Service in Kent. "There's people I have pre-approved a few months ago where because guidelines have changed, there's no longer a loan for them." Local mortgage specialists say the rules surrounding sub prime loans are changing so rapidly, there's no telling if the people who were approved through MILA will be able to find a loan somewhere else. And Snohomish County just lost what was once considered a major employer. Housing analysts have been predicting the crash of lenders like MILA for months. "It was 'Don't worry about it, worry about it tomorrow.' Well, tomorrow is here," said Ivy Zelman of Credit Suisse Group. MILA's founder and chief executive, Layne Sapp, did not return calls for comment.

To: D. Long who wrote (204138)	4/25/2007 2:06:53 PM
From: Lane3	Read Replies (1) \| Respond to of 793955

There is a difference between failing to respect her rationality (whether that is exercised wrongly or not) and recognizing her immoral act (lies are bad). The two are apples and oranges. I don't see your distinction. Disrespect is disrespect. Bear in mind that you're making judgments based on your opinions. It is your opinion that she's an idiot. And it's your opinion that she lied to cover it up. Neither of those is a fact. If she was, indeed, joking, then your disrespect for her alleged immoral act is grievously disrespectful. She said it was a joke several days after the fact. That doesn't prove anything. There are other plausible explanations for that. Your whole framework for apples and oranges is predicated on the assumption that it was not a joke. I understand how you would make that assumption but it is still an assumption based on your attitude about her and her ilk. If you aren't stuck with the "idiocy" prism, there are reasonable alternatives for the response time. If I were to insist she was merely joking when she asserted that she was serious, I would be showing her the paternalistic disrespect you claimed. But I am simply taking her at her word in the face of ambiguity. [I am choosing to ignore your drift from "idiocy" to "meaning what she says" to "rationality" despite the kinship between "meaning what she says" and lying. <gg>]