2008 was the year in real estate that most of would not want to see repeated, but before we move into 2009 I would love to ask a few questions. I am still feeling very uneasy about living through the biggest unexplained events to transpire since the "Great depression", but personally feel there are too many questions that are still not answered to my satisfaction. Even here on Active Rain, no one really talks about the events of 2008. I guess they feel it is too negative and all they want to do is get back to work as usual. Guess what, it isn't going to happen anytime soon. In the meantime, have we demanded answers from our elected representatives?
I would really like some disclosure before I can have final closure of the year. Why? So we do not have to go back and repeat the same mistakes over and over again. First of all I would like to here an explanation from Congress why this happened, and why they waited until just before elections to explain to the citizens of the United States. It seemed very self serving for their own position in life.
- Why were there no major indictments of the major mortgage company CEOs?
- Why were there no investigations indictments or censures of Senators taking lobbyist, favored loans and bribe monies and monies from those they over see?
- Why was there no explanation of all the events from Congress until it was absolutely too late?
- Why is there no transparency on our tax dollars used to bailout companies that should have failed?
- Where is the accountability from government as to where, and how the bailout monies were and are being spent.
- Why were Fannie Mae & Freddie Mac after still allowed to lobby after they were bailed out Congress?
- Why aren't the senators and the Congress taking cuts in pays since they caused about 95% of this mess?
- Why are special interest and lobbyists still allowed to buy influence at our expense?
- Where are the calls for independent prosecutors now?
- Why are there more questions than there are answers?
- Why there was no Federal oversight into: Fannie Mae, Freddie Mac, derivatives, Wall Street, hedge funds, the manipulation of the commodities and oil markets, banks that lent monies without questions, bans without real assets, and a credit bubble that is probably one of the biggest the world has ever seen?
- Why were banks and mortgage lenders that knowingly had high risk and unsound lending practices bailed out with taxpayer monies?
- Why were the foolhardy not allowed to fail?
- Will the government bail out pensions?
- Where is all the money going to come from? How will these bailouts eventually impact every citizen in the United States?
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Jim-- more questions than answers, of course. I hope 2009 is a cleansing year for us. We need a lot of agents to drop out (marginal agents, the half assed ones) and I also think the barrier to entry needs to be higher. Higher standards all around. I read on inman that someone (cannot remember who) thinks 20% of agents will drop out in 2009 but that we need a correction of about 50% really.