Should we really tried to fix the subprime crisis.

Politics in the Real Estate market   3/9/2008  

joel@joellawson.com

http://www.joellawson.com/

http://www.integrityrealty.net/

As a real estate broker.  I watched closely the news and other information about our current real estate market.  Trying as we all are to figure out how did we get here, and how do we get back.

Being in the midst of a presidential campaign, we hear the politicians talk about economic stimulus packages and solving the subprime mortgage crisis.  My question is, who do they really want to bail out the American people, or the large corporations who made obscene profits inflating real estate prices.  So that they could package, nonconforming ill-advised loans and sell them to unsuspecting investors as AAA investments.

Isn't the reality of the situation that those most responsible for this are now whining and begging the government to restore their ability to continue making the obscene profits, they've become accustomed to at the expense of the American citizen.  In other words gee, we have a God-given right to a luxurious lifestyle and even though, we've made poor decisions, at best, and quite possibly used corrupt and immoral business practices to finance this lifestyle.  Now that it is at risk.  We expect our political cronies to restore it to us.  Unfortunately, in the corporate world, these CEOs, chairman of the board, etc. can arrange to make huge salaries and profits, while their corrupt ways cost only very shareholders the government and us.

We need to allow these people to take their lumps pay for their own bad decisions.  As the working man does.  The only away to have a true market based correction to our housing market is to allow those who made poor decisions to take their losses.  Only then will the market corrects itself and begin working properly.

Off the subject but something to think about. It's my understanding that Barack Obama's mother is white.  Why is it we call him the first "black man" with a chance to become president.  Is it possible he calls himself black instead of white for a reason.

Joel Lawson