Sorry! I'm going to throw a politician under the BUS!

Education & Training with Finance of America Mortgage Winchester VA Branch NML#1071

The housing crisis . . its on the minds and hearts of us all!   The core of the problem?  Many of the very people we have elected to STOP and SOLVE the problem do not GET the big picture!!!!   This is why it is so important that REALTORS and MORTGAGE professionals alike take the time to send out BLOGS, EMAILS, make phone calls and just talk up what is really going on out there?     How many of you know that the Federal Reserve is a privately owned business ?   Yes it is owned by privately ran banks . . wait a minute???  If you are confused check out this article.

NOW TO THROW UNDER THE BUS . . .   about a week ago Maxine Waters Member of the U.S. House of Representatives from California's 35thdistrict,  was interviewing Ben Bernake, Chairman of the Federal reserve over her concerns about rising interest rates.  The problem?  She did not understand the difference between the federal funds rate and the discount rate.


In the United States, the federal funds rate is the interest rate at which private depository institutions (mostly banks) lend balances (federal funds) at the Federal Reserve to other depository institutions, usually overnight.[1] It is the interest rate banks charge each other for loans.[2] ( Wikipedia)

The discount rate is an interest rate a central bank charges depository institutionsthat borrow reserves from it. ( Wikipedia)

Check out this YouTube video and see why I am concerned!

Enough said folks . . .  get involved and in the KNOW!


For more information on Short Sales, Foreclosures, REAL ESTATE, and MORE visit my website at 


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Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

I agree we all need to be more involved. We should all know who we vote for and what they do and don't stand for BEFORE putting them in a place of power and be willing to remove those who don't serve our best interests.

Mar 03, 2010 10:29 PM #1
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA

In the words of Roy Schieder in JAWS * "We're going to need a BIGGER BUS!"

Mar 03, 2010 10:34 PM #2
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

don't be should be done more often.....that's the problem.....they get away with too many blunders.

Mar 03, 2010 10:48 PM #3
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Rachael Hite

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