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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (36791)	4/4/2011 9:19:08 AM
From: robert b furman	2 Recommendations Respond to of 71479

Hi Larry, Indeed younger people have now learned as Paul Harvey used to say "the rest of the story". I have a more jaundiced eye at Freddie and Fannie. These were the quasi governmental institutions that contributed real money to the minority oriented politicians (in a very big way our current president) and many others. These political contributions created obligations which resulted in the passing of laws thatloosened the credit standards for a housing mortgage. After all realestate never drops in value right - right - except in recessions. There were millions of performance bonusses paid to the likes of Fannies execs - some of which were found to have cooked the books for big bonusses. Franklyn Raynes for one. This was a progressive theme that funneled through powerful black people.Raines Obama,and the ex chairman of Merrill Lynch,who later became a guru to GMAC and their brilliant diversion of money from safe auto loans to that of "Lost another loan to Ditech - sub prime mortgages. Like it or not -it was an errant plan that went very wrong. When government legislation gets into retail business practices and modifies what has been tried and true wise business - it never works out well at the end. The very people who were intended to be helped - in the end of it all, were financially killed. When unending money flooded urban property values - the prices of the underlying commodity inflated. All buyers were then sold inflated values and it was just a matter of time for the "sure thing" to adjust abck to actual non inflated value. Now the same corrupt fools who started the game are out preaching "Debt Forgiveness through capital reduction plans". These boys are not only ignorant of how the real world works,they don't when to stop or how to wise up and learn. Politicians ,in my way of thinking, engineered the event. Others no doubt learned how to add to the cost of the folly and line their pockets along the way. When it was all done and over - the politicians gave it the best defense they could - a srtong offense AND BLAMED WALL STREET. AT ANY RATE AND IN ALL CASES THE CONCOCTION WAS VIAL-Toxic does it justice. Unfortunately its impact went well past just the participants - it impacted all home owners. None the less, in chaos lies opportunity.Young people who are working and saving their money are now able to make a great transaction in real estate. Once again reversion to the mean proves to be the best and longest route to success. I hope the nerve I struck didn't cause you pain.<smile> Bob