I am by nature pretty easy going. However, I am becoming increasingly angry at our governments ham handed approach to pretty much everything. I heard from a friend today that his Visa supplier, Bank of America, arbitrarily raised the interest rate on his credit card from 9 to 20% for no reason, no late payments, just did it, with no recourse. Later, I hear that B of A will receive another 15 -20 billion from the Feds for, well, I guess because they asked for it. Then I read where Fannie Mae will now be enforcing the S.A.F.E. provisions of whatever "save society from the nasty mortgage lenders" legislation, so every lender has to have a number.

I suspect I am preaching to choir here, but at some point 2 things should be obvious: 1) Uncle Sam is saving banks, not citizens: and 2) if we are to be "saved" it will be us that does the saving.

If 155 people can work together to save themselves from a sinking airplane, it seems to me that we can work together to save ourselves from stupid banks.  (loaning money to pretty much anyone that asked was stupid, need I say more)

The Federal Govt's answer is more regulation for small people and loans (gifts?) to banks.  There is no doubt that there was nasty stuff perpetrated by nasty lenders, etc.  But the current state of panic coupled with immobilizing regulation simply makes recovery more difficult, if not impossible.

Everyone that reads this can probably vote, most of you just did, so you probably remember the names of your Senator and Congress Person.  Call them. Tell them that they are making things worse, beg them to stop, and perhaps offer one suggestion: Don't pass any more legislation.  Leave us alone, we will figure it out. 

 

 

Larry D. McGee Broker The Berkshire Group, Realtors 3801 E. Florida Avenue Suite 400 Denver, Colorado, 80210 US	Work: 303-513-1436 Fax: 303-953-5390 larry@tbgdenver.com http://brokerisms.theberkshiregroup.com
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