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Fire Prevention...Did we get our monies worth? Warning... Unpopular Opinion Ahead!

By
Real Estate Agent 5660894-PB00

opinion

 

 

 

 

 

fire

 

 

 

 

We paid the government for fire prevention (regulation of the mortgage and securities industries) to STOP the arsonists from setting fires and creating huge damage to the housing and stock market.  They FAILED.

 

  fire

Why are the Arsonists still running around free spending the money they earned from setting these fires?

We are current paying the government to repair the fire damage.  FAILING.

 

 

 broke 

 

If you had an employee this incompetent would you keep them on the payroll or let them drive your business into bankruptcy?

I have always been a realist and optimist.  At one time I thought this down turn was mainly perception and lack of consumer confidence.  I was wrong.  It is much, much more, years of spending more than we earn (as a nation), no regulation (or not enough to mean anything) of mortgage and securities industries. This allowed the unchecked arsonists to create trillions of dollars of damage to our economy.

Greed is good at all costs mentality. Has created a financial tsunami covering the entire country and compounded by the fact our economy was being built on sand over the past few decades.  So the sooner we get real and come together (those who have come together deserve our thanks) to resolve the problems, the sooner we achieve an economy recovery which needs to be lead by the housing market. 

I'm still hopeful Obama will bring long overdue accountability and transparency to the government, with real solutions to rebuilt the fire damage, including jail time for the criminals.  It's tough to remain hopefully in this storm of incompetence.  BUT, what else do we have to hang on too?

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Comments (7)

Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

Your frustrations are shared, concerns valid and hopes for Obama to clean up and get us on track are held here too. 

Jan 11, 2009 04:43 AM
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

Have you seen all the top employees from the failed banks getting new jobs with the government? Now there's job security!

Jan 11, 2009 09:59 AM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Mark, actaully, we sort of did fire the government!  Their bags are packed and they are leaving town on January 20th. 

Jan 12, 2009 05:14 AM
James Wexler
wexzilla.com - Scottsdale, AZ

the greed is good (for capitalism) saying made famous by Gordon Gekko may no longer be accurate, apparantly greed (in business) is Not so Good

Jan 12, 2009 11:45 PM
Mark Watterson
Salt Lake City, UT
Utah Real Estate

Connie-He has a big job and needs the cooperation of the other two branches of government.

Russel- That something I was not aware of.  Sounds similar to the appointments to the GSE's that caused their failure.

Patricia- We are getting new management in one branch of the government.  I hope that's enough???

James- Any engine (car, truck, equipment) left to run at unlimited RPM will aways blow-up.  That's what our government left the financial system to do.  No sane regulation and the system blew up and now the repairs will be long and painful.

Jan 13, 2009 12:28 AM
real estate real estate
Providence, RI

Mark, you have just hit the nail on its head. Greed is the ultimate culprit for all the messes: banking, housing, retail, you name it.

Jan 17, 2009 01:56 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Maybe after the banks received their bailout money, they bought lots of insurance policies from AIG to cover all those fires. Since AIG had lots of money, they didn't deny any of the claims and, after paying them, sent their people out here to California for a real cool retreat at one of the ritziest hotels in California. That drew attention away from the banks to allow them to make sure that their executives got their salaries and bonuses before anything else happened. If that's not what happened, then I don't know -- LOL.

Jan 22, 2009 01:41 AM