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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (560612)	4/14/2010 11:36:48 AM
From: combjelly	Read Replies (1) \| Respond to of 1578195

"But not all of Flatland has gotten off lightly. In particular, there’s a sharp contrast between the two biggest Flatland states, Texas — which avoided the worst — and Georgia, which didn’t." Ironically, there was a strong push to weaken the consumer protections here before the bubble burst. They were almost successful in letting 'homeowners unlock the value in their equity'. Which sounded a whole lot better than 'betting the family farm', doesn't it? Paul did miss one factor, we had already gone through one meltdown in housing a couple of decades before. Granted, there really wasn't much of a bubble which preceded it, the meltdown was in line with a complete economic meltdown of the state, but there still was a cautious approach to real estate.