Yes, it' convenient that every one has determined that besides the evil bankers, it's the poor who are causing our current financial debacle!

The poor, poor, poor, poor! Where are these right wing talk show host living? I've seen a lot of foreclosures in the last few weeks in both Las Vegas and Houston South to what remains of Galveston. With a few notable exceptions these REO's were never owned by the poor! Working middle class yes, but not the poor.

But, I keep hearing these talking heads spouting about, lying poor buying houses they should never have been allowed in, except as domestics! I can understand the "left" they haven't told the truth since Roosevelt The Second. It's the "right" that concerns me, these fools must never have seen an REO! They must be wearing blinders!

Even using the infamous "Option Arm's" negative amortization these homes were never owned by the poor.

No one seems concerned about facts. No one questions the explanation "du jour!" There are problems with the CRA, Community Reinvestment Act, but it's not our current problem! Simply put the majority of foreclosures and the REO's are not in areas involved in the act.

Bill

William J Archambault Jr

The Real Estate Investment Institute

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org      Cell 832-259-7078,      Houston 832-582-8415,       Las vegas 702-516-1569

     http://www.reii.org  Back Cover One House At A Time http:www//reii.org http://www.flippingforfunandprofit.info/ http://www.billarchambault.com   

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

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2 Comments on Isn't It Convenient

OCT
06
2008
183,075 Points 13 Featured Posts Called Shot Master

This is very sad. I believe you hit the nail on the head when you use the word 'convenient'. Looking at the situation realistically means looking for a cause that might implicate a failed policy or belief system. It means the Bush administration and it's loyalists may have made a huge mistake and pulled the proverbial rug out from under the humble, but honorable middle class. It also indicates an out of touch mindset.

Blaming by anyone is a copout. How about shutting off the blah blah blah and actually lending a helping hand? The media lost my respect years ago. It's no longer a public service, but a detriment to our hope. And our hope is how we ever became the great country we are/were.
11:17am • #1
536,010 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jennifer,

I'm willing to place blame! But, not simply on the latest scap-goat, no make that Judice-goat!  There's plenty to go around.

I think all of this is to protect the top of the heap.

I think many are so quick to point fingers because they think they or theirs could be guilty. Until you're sure it's comforting to think it's some one else.

Bill
11:28am • #2

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William J Archambault Jr

Houston, TX

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