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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (164745)	11/16/2008 11:30:42 AM
From: ChanceIs	Respond to of 306849

>>>These loans were given out and then promptly sold so when it was not be payed back the bank did not care.<<< Of course that is what happened. We all know that. If you look back at my last two days worth of posts you will see that I am heaping blame on both parties. There is no doubt that Clinton squeezed the banks to make questionable loans. What I can't tell you is how much squeeze was applied and where. The pressure was not to mae a direct loan. That could have easily been tried in a court of law. The pressure came from the vague future growth constraint. You want to buy that bank down the street??? Well lets see. You have not been making many loans to certain voters we want to reward. We will have to review this application extensively for anti-trust. We will get back to you with our decision in about two years. We have a backlog of these applications you know. Did Bush turn a blind eye???? My heavens yes. The smell of the lot of them would knock the proverbial buzzard off of a s*&t wagon. Clinton started it, and Bush finished it, and us. Why even discuss it??? The only merit is where we will go from here. Me sense is that both parties are in no way ashamed or even cognizant of what they did. If they are aware, they are completely unapologetic. Except maybe Hank Paulson who said that , 'as a nation WE had embarrassed ourselves.' I sure don't feel embarrassed. What I take away from this is that both parties are rabid about housing. That is what I have concluded. Certainly the Dems favor the Greens and would have pushed (still are) CO2 mitigation, etc. I don't think that will go places in the near term. I can see a brand new $500 billion TARP thrown over housing. I think that the bottom line is that we will continue to print money and attempt to funnel the proceeds into housing to reinflate that bubble. I don't think it will be successful. At best it will slow the decline. I sure don't see it helping the homebuilders. It will probably help the banks. So maybe its time to cover my bank shorts. That would be hard to do with COF and RKH tanking ever so beautifully. At least back down to the pre Chris Cox shorting ban lows. I didn't take profits then and suffered.