PHEW

Well, hopefully we can take a breathe before it hits the fan again, but don't take my word for it. There are still very loud calls for Bernanke to lower the fed dunds rate, after lowering the discount rate last week. A U.S. Senator has summoned Big Ben and wants to know why he hasn't stepped in yet and made some changes with all that has happened in recent weeks. It would appear to the person watching from the outside that this certain Senator is going to make a fool out of himself as he tries to run for President, in that he doesn't appear to know that the Fed's main job is to watch inflation and keep it in check. Not to bail out a bunch of greedy S.O.B's when their greed gets them into trouble. And, and, and.........If Ben gets a bit irritated at this certain Senator, he can politely tell him to where to get off, as the Fed is an independent organization, a sort of quazi-government entity. So let me think a minute, is the Fed going to lower interst rates prior to their meeting next month? The bookies in Vegas have layed an 88% chance on "yes." You can bet on anything these days. Anyone wanna bet on who gets Billary for a running mate?

 We are continuing to lose lenders as teh fall out continues. Capitol One closed it wholesale lending division and another bites the dust. (Greenpoint) Bummer too, cuz this was one of those lenders that was slightly aggressive in their programs, but you can see where it landed them. Out of a job,

 One thing I wanna point out here: We have an opportunity to fix what we broke with all this greed in recent years. It would be nice if we could do just that. But here's the deal: don't ever think ofr a second that greed isn't the catalyst that makes this earth turn on it's axis. Because it's exactly what does it. My apologies to thos who belive God does this, cuz man messed up yet another great creation here.

I also want to make a shout to you loan officers out there to become more forward thinking when you place your client into a loan program. Is this the best loan for the client? Will it meet and immediate need and set them up for success in the long run? Or is this a long term loan to keep things status quo and allow the client to increase their overall wealth at this point? At least do them a favor and think of them first. Zig Ziglar tells us that we will get what we want after we give our clients what they want. Isn't it time the client came first, and we just take as much money for the loan that is appropriate? Maybe we can save ourselves a lot of heartache and frustration by actually getting a client to refer you to their family and friends. Now that's a concept you can build an entire future on. Dang! That's smart business practice for those of use actually give a hoot.

Can we try that one for a change and clean up our industry a bit? I would like to think we can.

Love ya

Ed