This really doesn't need a lot of explanation -just a bedpan. It makes me sick to read this knowing this was the most massive transfer of wealth in the history of the world. This cannot be blamed on any one man more than any one man can "fix it". This took the penultimate combination of greed and ignorance. Legislation will not prevent a repeat act possibly within some of our lifetimes.
It's pretty amazing. I actually did a bailout graphical comparison by year but 2008 was so big that only 1989 even registered. Let's face it, in the last 4 months we have spent $1,347,000,000,000 in bailouts. Brother and sister that's more damage than any terrorist group could have done. And no, Bush did not do this, the Republicans did not do this, Clinton did not do this and Obama cannot fix this. We did this and we can fix this.
THE OPINIONS IN THIS COMMENTARY ARE STRICTLY KEN COOK's PERSONAL OPINION AND NOT REFLECTIVE ON ACTIVE RAIN, NOVATION MORTGAGE, or ANY SPONSOR OF THIS WEBSITE.
EDUCATION BEATS LEGISLATION EVERY TIME. Get your clients, friends and family members to a LENDER RUN home mortgage seminar as soon as possible.
Graphics can really hit a reader in the gut. Excellent. You know I'm totally against this entire bailout giveaway. We have a housing crisis so we give over a Trillion Dollars to the very entities that caused it.
It's like killing a father and mother and putting the children of the victim in the care of the killer.
Send this to your congresspersons and let them know what we're thinking.
George Bush protected us from terrorist attacks for 7 years and then sat quietly by while American financial institutions raped the American home owners and tax payers. This thing is so wrongheaded it defies description.
We have about 75,000,000 home owners who are going to be held hostage to their real estate for many years.
WOW! That graph really does hit home what's going on in our economy! I knew it was HUGE but, with the visual, it just gives you a nauseaous feeling, doesn't it?!
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I have to find the article I found yesterday pointing to a quote from the NYT... it was enlightening on several levels.