tag:blogger.com,1999:blog-10635442.post6776991983718702593..comments2023-10-21T03:07:18.017-05:00Comments on Enclave: FBI Investigates Subprime Lending CompaniesS-townMikehttp://www.blogger.com/profile/05948307051485318061noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-10635442.post-77458813473282863042008-02-04T08:14:00.000-06:002008-02-04T08:14:00.000-06:00Something else you have to remember about this who...Something else you have to remember about this whole thing is that the Bush administration was also pushing their "ownership society" plan that covered the privatization of Social Security and as I once heard him say, "the right for anybody to own a home" (to paraphrase).<BR/><BR/>From that point, lenders of every stripe, as you point out, created the labyrinth financial mechanisms that would only serve to be a black whole to anyone who does not speak fluent financial double-talk. Meanwhile, the Bushco gang are letting every red flag get yanked in the hopes of keeping the illusion alive.<BR/><BR/>The right (no, privilege) to purchase a home should remain a milestone in one's life based upon your ability to participate in the community based on your skills which is rewarded by monetary compensation. Work hard, use you bean to manage your money, and execute your plan based on a sound financial platform.<BR/><BR/>You don't do a no money down 60 year mortgage no matter how hard that corner broker is pushing, period.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-10635442.post-52410284434911451142008-02-03T16:31:00.000-06:002008-02-03T16:31:00.000-06:00This is very scary for all of us. It's a clear ind...This is very scary for all of us. It's a clear indicator of how interconnected we all are and how fragile our seeming independence is. Even if you own your home out right but can't sell it, it's worth very little and the rich can get richer loaning you pennies on the dollar. Some parts of this feel like the beginning the Great Depression. "Live for today" and "hope for a better tomorrow" doesn't put food on the table, pay bills and by medicine.mrbhttps://www.blogger.com/profile/06223571140075151110noreply@blogger.com