I'm Sorry Mr. President, I did Build My Mortgage Company...

“I’m Sorry Mr. President, I did Build My Mortgage Company, No Thanks to You”

I don’t have you sitting in the chair next to me, as I’d like to be saying this face to face, but I don’t have that option. Anyway, let me share the following with you.

Mr. President, with all due respect, which is more than you have given me and the millions of business owners throughout this great country, I built my business without any help from you and without the help of the government.

I also pay my fair share of taxes and so do millions of business owners. In spite of how much money we pay to keep you in office, it’s still not enough, as you and your band of merry  men borrow even more money. You are now spending my children’s inheritance and even worse, my grandson’s as well.

You and the government have done more to attempt to put me out of business, with enough regulations that it could bankrupt China and that would be really hard to do. Now there is an idea for you, does that mean if they went bankrupt, we wouldn’t have to pay them? I guess it would make more sense the other way around.

Speaking man to man, do you really know about running a business? Just as I thought... So, how could we ever expect you to balance a budget?

I guess we shouldn’t wonder why you would ever make a statement like, “you didn’t build that business” and “someone else built it.” I’m sure you are getting the message that you won’t have my vote in November. I just can’t afford your spending habits. We have to let you go, it’s time.

You Didn’t Build That Mortgage Company

BY: Paul Muolo

Actually, you may’ve built your mortgage company – and the government was there to help you, heaping on regulations to make sure you didn’t take advantage of any customers or didn’t have any rogue investment bankers or warehouse lenders take advantage of you. (Actually, there have been rogue operators in those sectors and Uncle Sam didn’t do much to prevent the damage.) In a perfect world, one where everyone is honest and discloses everything, mortgage bankers wouldn’t need regulations. But as we all know, that world does not exist. As for ‘your’ mortgage company, you may want to sell it over the next year to cash out and retire. Or you may want to buy someone else’s because you have substantial backing and see a golden opportunity as Bank of America, Citigroup and other mortgage ‘fraidy cats’ head for the hills, foaming at the mouth from Basel III rules. Meanwhile, national elections are two months away and the question you want to ask is this: Are you better off now than four years ago? Actually, that’s a bad question because four years ago Fannie Mae and Freddie Mac were taken over and the world looked bleak. How about this question: Who’s better for the economy going forward: Obama or Romney?

image: renjith krishnan/freedigitalphotos.net