My go-to guy for financial things explained to me all about the cause of the current financial mess. And I'm sure you will NOT be surprised to hear that it is a direct result of government regulations. Laissez faire, people, LAISSEZ FAIRE!! Goodness gracious. I'm having shortness of breathe just thinking about it.
Also, my friend Amy found this completely awesome website about potential ways to brand Obama. Funny.
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Could you please explain that to me because the way I see it the problem started in all levels from mortgage to Wall Street.
1. Loan Officers giving people loans they couldn't afford because they are paid on commissions for closed loans
2. Appraisers rising house values because the Loan Officer needed a certain value to close the deal
3. The American people for buying things they could not afford
4. The lender reps because they were paid commissions on deals closed
5. The lenders because they were offering loans like-no stated income, no verification of income to people so they could close deals and sale them in bulk to Wall Street
6. Wall Street buying loans without taking a closer look because people were buying them and they were making money.
I feel that America was formed by men that believed that people would choose the greater good over making their own personal "quick buck". We have lost that idea and now I feel like most people are just out to make a quick buck.
Did the American people really think that their house values could go up hundreds of thousands of dollars in a few years and the economy would could sustain it??
I am in love. Absolutely in love with the link you've shared. Thank you.
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