October 14, 2008: Get past the blame and get on with the solution

By
Services for Real Estate Pros with Real Skillz-Clear Marketing for Your Real Estate Vision

I write this post as I sit on a Sunday evening enjoying time with my family, each of us engaged in separate activities, but all of us together and united. I am reflecting on a blog post I just read, “Beneath the financial crisis waits a nastier beast”, which explores the last domino of the financial crisis.

The blogger, Waleed Aly, discusses what might happen with social politics as a result of the economy. Aly’s belief is that government intervention and the new marketplace cannot help but alter social politics. Aly’s words are sobering:

“This is what happens in times of great insecurity. As the foundations of our lives erode, we search for an anchor, and social politics very often provides it. When all else fails, we may still rally around old certainties: nation, culture, religion, race. We crave strong authority figures that can imbue us with certainty and articulate for us a sense of self. That often involves fabricating a scapegoat who becomes a mortal enemy.”

I have great hopes that the lessons of the past have taught us that fear-controlled decisions are usually led by sheep in wolves’ clothing.

Check this post, "Bachmann blames minorities for housing crisis"

Watch this video

 

 

I have great hopes that the lessons of the past have taught us that fear-controlled decisions are usually led by sheep in wolves’ clothing.

Realize this:

  • If your property values decline, understand that in most cases they appreciated unrealistically and were overvalued.
  • If your company starts layoffs or downsizing and outsources overseas or hires cheaper labor, that is the decision of the company, not the end laborer.
  • If you look to blame the subprime mortgage crisis on a race or ethnicity, you are blinding yourself to the source.

In the end, the blame does nothing to improve your situation. Empowerment lies in finding a solution by working together and looking inside ourselves.

People in glass houses shouldn’t throw stones. We all live in glass houses.

It is no wonder that hundreds of thousands of people were hoping to look to the sky today for inspiration. 

We need a change.  We need to start from within and work our way out.

We can flip the switch from the age of entitlement to the age of enlightenment.

Get past the blame and get on with the solution.

UPDATE:  I will list any unfortunate examples that come across my path here:

Ben Stein's "Why I'm Still Buying"

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Rainmaker
647,735
Team Honeycutt
Allen Tate - Concord, NC

I agree, we need a solution soon...I dont care who it is or what it is but something needs to be done!

Oct 14, 2008 02:42 AM #1
Rainer
42,864
Charlie Harden
Columbia, SC

I'm with ya Rebecca.  It's helpful to me to turn off the TV and spending time with the family is great to do.  We've got to get back to common sense and just a sense of doing right in this country.

Oct 14, 2008 02:43 AM #2
Rainer
82,781
Patty Carroll
Vancouver, WA

Rebecca, great post.

Kill golden parachutes for CEO's and then wipe out that incentive.

Give them stock from the company that they are working for and if they do there job it will make them the money. If they don't then they get nothing.

Oct 14, 2008 02:48 AM #3
Anonymous
Ed Lefevre (angry curious sort)

I disagree, Rebecca, because our great- grandfathers were able to do both...investigate and name who was responsible, and the results led to solutions....the information revealed in the investigations resulted in protections for "the little guy" that lasted into the 1990's...

It was the usual suspects, not "the poor" and "minorities", as it is again, in our times:

Ferdinand Pecora - Wikipedia, the free encyclopedia

Ferdinand Pecora, led Senate hearings, known as the Pecora Commission into the causes of the Wall Street Crash of 1929 that launched a major reform of the American financial system. Pecora personally undertook many of the interrogations during the hearings, including high profile Wall Street personalities such as Richard Whitney, president of the New York Stock Exchange and investment bankers Thomas W. Lamont, Otto H. Kahn, Albert H. Wiggin, and Charles E. Mitchell. Pecora's high-profile work led to the hearings being called the Pecora Commission and it put him on the June 12, 1933 cover of Time magazine. Pecora's investigation produced evidence of irregular practices in the financial markets that benefitted the rich at the expense of ordinary investors which led the United States Congress to pass the Securities Act of 1933 and the Securities Exchange Act of 1934. With the United States in the grips of the Great Depression and millions of Americans living in abject poverty, Pecora received massive press coverage when his questioning of J.P. Morgan, Jr., the most prominent banker of them all, revealed that Morgan and many of his multi-millionaire partners hadn't paid any income tax in 1931 and 1932.

When the Commission wrapped up its work, on July 2, 1934 President Roosevelt appointed Ferdinand Pecora a Commissioner of the newly formed U.S. Securities and Exchange Commission (SEC). In 1939 he wrote a book published by Simon & Schuster, Inc. about the Senate investigations titled Wall Street Under Oath: The Story of Our Modern Money Changers.

Temporary National Economic Committee - Wikipedia, the free ...

The Temporary National Economic Committee was established by a joint resolution ... of the TNEC are still under seal according to the US National Archives: ...
The records of what the wealthiest Americans owned have been sealed since 1941:
Specific Restrictions: As specified by the SEC, no one, except government officials for official purposes, may have access to records created and filed by the SEC on behalf of the TNEC, except....
Rebecca, can you imagine President Obama, telling it like it is today...same as it ever was? I cannot.... the backlash by the elite would be devestating!
the President's message opened with some strikingly similar themes:

"Unhappy events abroad have retaught us two simple truths about the liberty of a democratic people. The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic State itself. That, in its essence, is fascism—ownership of government by an individual, by a group or by any other controlling private power.

"The second truth is that the liberty of a democracy is not safe if its business system does not provide employment and produce and distribute goods in such a way as to sustain an acceptable standard of living. Both lessons hit home. Among us today a concentration of private power without equal in history is growing."....
http://www.time.com/time/magazine/ar...764913,00.html
Thirteen Families
Monday, Oct. 28, 1940
» Of an estimated 8,500,000 U. S. stockholders, less than 75,000 (.06% of the population) own fully one-half of all corporate stock held by individuals. The majority of the voting power in the average large corporation is in the hands of not much over 1% of the shareholders.</h3> But some of the biggest and best-known corporations are exceptions (i.e., widely held, without visible centralized control): A. T. & T., Anaconda, Bethlehem Steel, Eastman Kodak, General Electric, Goodyear, R. C. A., U. S. Steel, Pennsylvania Railroad, etc.....


....» The 13 most potent family groups' holdings were worth $2,700,000,000, comprised over 8% of the stock of the 200 corporations: Fords, $624,975,000; Du Fonts, $573,690,000; Rockefellers, $396,583,000; Mellons, $390,943,000; McCormicks (International Harvester), $111,102,000; Hartfords (A. & P.), $105,702,000; Harknesses (Standard Oil), $104,891,000; Dukes (tobacco, power), $89,459,000; Pews (Sun Oil), $75,628,000; Pitcairns (Pittsburgh Plate Glass), $65,576,000; Clarks (Singer), $57,215,000; Reynolds (tobacco), $54,766,000; Kresses (S. H. Kress), $50,044,000.

» Three groups—Du Fonts, Mellons, Rockefellers—have shareholdings valued at nearly $1,400,000,000, control, directly or indirectly, 15 of the 200 corporations....

*Excluded: banks, trust companies, insurance companies, investment houses.
...and, because we don;t fight back....we talk about just "moving on"....this is what they are doing to us, as I am writing this:

13 October 2008

A Credit Bubble of Historic Proportions


"Hmmm, let's see. How about injecting billions of capital in the banks crippled by reckless speculation and fraudulent lending, and obscenely high pay and bonuses to the people who ran them.

And then we can beg the banks to start making loans to us with our money to get the credit expansion back on the upswing.

That should fix the problem, right?

This is a Ponzi scheme reaching parabolic heights. It has to retrace at least fifty percent, and the US economy must get back into some sort of sustainable structure, period.

The alternative is for the majority of Americans and British to accept debt peonage or "go into service," and most of the world's economies to adopt the dollar and sign their people up for a neo-colonial political structure to support Wall Street and the City of London, and perhaps Tokyo. God help Europe if their stooges in Italy, France and Germany can succeed.

Welcome to the new Anglo-American Empire, founded not on supremacy of the seas, but of the financial markets.

Its a classic fraud. Our prediction is that the looting of the Treasury will continue until the current crew in Washington leaves town, and they dump the problem hard into 2009 which will be the year from hell.

Then they will wind up their spin machine about low taxes and trickle down economics and blame it all on the new Administration...."

Oct 14, 2008 03:32 AM #4
Rainmaker
176,439
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Team Honeycutt- Amen.

Charlie- "A sense of doing what's right"- absolutely.  Fear based reactions aren't the solution.

Patty- Yes.  I am all for ambition, free enterprise, wealth- when honestly earned.  Not forsaking all others.

Oct 14, 2008 01:53 PM #5
Rainmaker
176,439
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Ed- I have to admit, I saw your comment earlier this morning and waited until this evening to give it the full attention that it deserved. 

I thank you for your discussion and conversation,

I do not disagree with you Ed.  You might be surprised how very similar the nature of our thoughts are in this time of turmoil.  My concern is that if we do not look inward first, each and every one of us, the real problems persist because we act out of fear and anger, rather than a place of understanding.

We can have those feelings, cycle them through, think about what we want and then act.  I am not about inaction or apathy.  I'm about smart thinking and being proactive.  I'm also not about misplaced blame- topic of the post.  When you can look inward, do a gut check, align with what  you want, then when you look around, the focus of the lens is alot clearer.

Thank you again for the time you put into this thoughtful conversation.

Oct 14, 2008 02:53 PM #7
Rainer
41,853
Eugene Jones
Weichert Realtors - Somerville, NJ

Hey Rebecca, I agree. Without an intelligent thought-out solution, we continue down the same path and re-live the same problems.

Oct 14, 2008 07:12 PM #8
Rainmaker
176,439
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Eugene- who willingly wants to travel down a path of insanity? Not me:-)

Oct 15, 2008 07:16 AM #9
Rainmaker
278,395
Franklin & Brentwood, TN Homes Mike Nastri
Keller Williams Realty - Franklin, TN
It matters to us as much as it matters to you.

Rebecca, count me among those that agree with Ed.  While assessing the blame should not be where we stop our investigating, it should be where we begin.  I heard former regulator Bill Black compare the Pecora investigation to investigating a plane crash, not about assessing blame but to discover the causes so we can prevent future occurrences.

When the video is out I will post it, but Black shed some light and understanding on some of the deregulation that led to the financial melt down.  http://www.pbs.org/moyers/journal/04032009/profile.html

He says it was more than greed that brought us to where we are, it was fraud.  So it was more than questionable ethics, it was criminal intent.  Read him, you might agree.

Remember if we fail to learn our history are doomed to repeat it.  The deregulation of the past years is vivid proof of this.

Apr 03, 2009 01:55 PM #10
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Rainmaker
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Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

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