The Main Dishes: Senators' Bullshit!

I agree -- top down has not worked and will not work for this.  It needs to be a bottom up. However, its the people at the top making the decision and right now those people are scared and have a "lets take care of ME first and then YOU" mentality.

 

02/08/2009 10:34 PM by Mark Bellegia - Loan Modification and Pipeline Software (Captaloans

Thank you, Mark, for being with me out of your loan experience.

Recently I am sick and tired of listening to all these "stimulus" plans.   But they keep coming out.  Here is one of those shits:

Private capital: The bailout wildcard

A key priority for Tim Geithner's financial cleanup plan is getting private investors to help pick up the tab. Here's how he might be able to do that.

Mind you what Ben Bernanke said right before the subprime loan bubble explored?  Exactly what Geithner said today: "We need to invite the private investors coming back to the market."   But what happened in the past?  Can you see the difference between the Obama's wine and the Bush's?  Same way of thinking.

Well, the same soap TV show is still on.   Now, in response, allow me release my draft article as follows; and sorry to share this invisible "American poverty" scene, sad enough for you to rush out for Rolaid , I want your pennies first before I talk about those shit plans Obama is planning:

Do We Really Care?  (Draft) (edit/delete)

Do We Really Care?
2009/02/03 02:59:55　
 
1*10 **** *****, Cocoa, FL 32922
3BR, 1BA, 1168SF 
B*****, 321-2**-****
*** Real Estate Inc
  Residence: Bedrooms: Bathrooms: Sq ft: Lot size: Year built: Year updated:
Single family Single family
3 3
2.0
1,168 --
9,147 sq ft / 0.21 acres -- sq ft / -- acres
1959 1959
1960
$7,000

http://ushud.com/dyn//i/clickandqualify/h/clickandqualify/FL/BREVARD+(CENTRAL)/search.html?&case=HH1***********C&on=CAPE+****************ND%00ROCKLEDGE

COCOA, FL
hud properties
>

Address:

 buying foreclosed homes  Case:

HH1210TECHPLCOCOAFL32922-6461C 
  1*10 ****** **  Agency:

CitiMortgage 
  32922  Status:

Listed 
hud foreclosure foreclosure properties
homes for sale
List Price   Bd/Ba   Sqft   Year Built
hud houses

$ 12900

  | 

3/1

  | 

1454

  | 

hud housing
va foreclosures
<!-- <tr> <br> <td width="125" bgcolor="#C0C0C0" nowrap><b> Last Updated:</b></td> <br> <td><br><br></td> <br> </tr> -->
 FHA Insured:    
 Inspection:  
 Deadline:  
 Other Info:  
 Notes:  
hud foreclosure

 

  • Zestimate: $84,000
  • 30-day change: $1,500
  • Value Range: $64,680 - $87,360
  • Last updated: 01/30/2009

    10/01/1993:
    Sale History
    $38,000
    No other sale data is available

    •  [Hint]

    1. Give the poor fish is not good enough, such as expends food stamps, medicare or unemployment benefits.  Do you know how poor our people are by looking at those pictures?  Please give people a real tool to stand up while they are falling down or dying.

    2. Please don't just sit there and talk your "lip service."  Look at how inefficient our government housing system, if not corrupt.

    3. Why those politicians argue fiercely on the issue of "tax credit of $15,000," if there is just "few" people can qualify a bank loan under the current situation, as a loan broker said here in AR?  Tell me who can qualify as the first time home buyer based on the fact that we have 70% home ownership.  How many people in the rest of 30% can take advantage of it?  Rebut me if I am wrong, what the use of spenting so much time over a program if nobody can enjoy it to take the benefits of tax credit? 

    4. Don't say I am complaining for what I expect no gain for me in the "stimulus" package.  For my personal goods, I should be happy about it by seeing no bank is willing to give out home loans.   Why? it is good to my real estate game play: seller financing.   I just have a mouth too big to concern about our poor folks who can be saved if our government do the right way with half those funds they already spent.

     

     
    Posted by Ed Tse on 02/09/2009 08:52 PM   Comments (8)   Economy Stimulus Plan in the ActiveRain Channel   economy revitalization  
    Post is included in group: The Economics of Real Estate
    Post is included in group: Realtors®
    Post is included in group: Politics And Real Estate
    Post is included in group: Flipping Houses for Dummies!
    Post is included in group: American Poor Folk's Egold

    8 Comments on Do We Really Care?

    FEB
    10


    TheIronChef
    等級：3
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    You are right on the money
    2009/02/10 11:05
    I read in another article pointing to the same problem, although it offered a different solution: use the bailout money to prevent foreclosure. I believe your solution is one notch up.

    As for Obama and McCain, I think they either don't understand basic economics, or faced too much pressure from lobbyists, and most likely both.
    曾太公(et13808) 於 2009-02-10 12:54 回覆： 刪除

    Thank you for your understanding.

    To further know my points, please see: 引用文章我們真的關心國事人民﹖別愛說笑哪﹗

    9:31am • #1

     

     

    TARP II stimulates bears
    Dow industrials down as much as 300 points, as new plan unveiled

     

    Private capital: The bailout wildcard

    Exactly what Geithner said today: "We need to invite the private investors coming back to the market."   But what happened in the past?  Can you see the difference between the Obama's wine and the Bush's?  Same way of thinking.

    bailout plan
    Goal is stronger banks
    Banks' balance sheets are the 

    focus of the government's plan and this will be Treasury Secretary Geithner's main point.

    bailout plan
    The Great $1.5 Trillion Rescue 
    Government to use mostly private money to recapitalize banks, with support for consumer, business lending also planned.

    Stocks react as expected 
    Equities react to the Obama administration's latest attempt to stabilize economy largely as it did the last eight times the government unveiled steps to curb the crisis, beginning in October 2007.

     

    *******

    Did I say in the topic: "Old wine in a new bottle" yesterday?  Well, Dow goes down 298 points in the first half day of stock transaction this morning.  It well explains what are in those Private Investor's minds about the so-called "TARP II."  

    As I put it before, a banking system is just a tool for us to use, not the master for us to serve.  In the hindsight, how many big companies failed.   Per Prof. Thursow, 80% of big brand were gone in the past 50 years.  Does that mean we the people were dead, too?

    How many innings do we have in a baseball?  Our politicians did the same strategy 8 times in the 8 innings to prove it not working.  Don't let me think about a old saying and give us a home-run in the last innings, Please!  I really don't want you guys have an excuse telling me that you are an old dog since we have a new president who knows "new tricks" to rescue on that we pledged our hopes to vote.  Common, you guys can do better than that.

    What is the root?  What is the branch?  What is the cause?  What is the effects?  Let's take a deep breath and re-think, Mr. Geithner.

     
    11:58am • #2
    FEB
    11

    Nobody see what I see?  Or nobody is really serious to deal with the reality?

    Common! Give me a break.  We have our constitutioanl right to free speech, don't we?

    All I need is your two pennies. Speak out what you feel by looking at those pictures or the HUD websites.
    11:31am • #3
    FEB
    12

    Of course no one wants to deal with reality.  That is why we keep bailing out instead of letting things correct.
    8:24am • #4
    FEB
    14

    Thank you for your one penny, Brian.

    Can you further tell me what come up in your mind when you look at those pictures and/ or the HUD website?
    9:16am • #5
    FEB
    27

    Look at those pictures, what did you see? May I ask you what are the most expensive items carrying a big price tag in a thrift shop?

    Isn't it those items in the pictures: furniture and appliance?  Don't they need the items at the time of difficulty?   Then, why they dumped those expensive items?  If you can see this good question out of the pictures, that is very good. 

    But, may I ask you why they leave those items behind, from your keen observations?

    After your answers on this, I will release what my feeling on HUD REO website.
    10:34am • #6

    From $38,000 in 1993 dwon to $9,500 in 2009.  Great price! Right?

    This Property is SOLD!
    Subject to seller's final approval.

    POST AUCTION OFFERS
     $9,500-02/09/09 06:24:50 PM-by: MG181009/Presented Seller Accepts Price/Buyer Accepts Price
     $9,250-02/09/09 01:39:44 PM-by: tripe/Presented Seller Countered
     $9,000-02/09/09 12:59:57 PM-by: EX275184/Presented
     $8,750-02/08/09 02:56:44 PM-by: MG181009/Presented Waiting Seller Response
     $8,500-02/08/09 10:36:46 AM-by: EX275184/Presented
     $8,000-02/07/09 11:50:30 AM-by: MG181009/Presented
    2:50pm • #7
    APR
    11

    Banks aren't reselling many foreclosed homes
    1:26pm • #8

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