Makes TOTAL sense to me now, thanks Steve Forbes. I appreciate your honesty, seriously! You are not just a conservative Republican, you might be one of the few who are willing to stand up and tell the truth about it, and for that I truly admire you.
Good Lord – so, Mr. Forbes lays the blame at the feet of the Government [exactly where I thought it started] who approved the Fed Reserve’s decision to begin to print lots of cash in 2003, [interesting date, wasn't that when the big battle started for re-election? Why yes, I believe it would have been] and tosses it into the economy, changing the ‘rules of the road’. Everything gets out of control and goes sideways. Greed runs rampant, pockets are not big enough to carry home all the available cash each week.
However, things are so good, everyone thinks it can never end! BUT! Once Bush won re-election, this wild printing party simply continued [let the good times roll!] and ultimately caused destabilizing of the markets. Investors left the commodities markets, and everyone runs for the real estate market – creating the boom, or the bubble, or as I love to call it the big catastrophe! which is subsequently marked first by the collapse of Bear Stearns – who is rescued; then made worse by a bad decision 48 hours later to allow Lehman Brothers to fold. Hindsight indicates that was a REALLY bad decision.
Realizing the mistake, they panic and appropriate the big stimulus bucks! Then they then save the next one in line, and so on, and so on. They scramble to get as much cash as they can to throw it on the fire and try to put it out. [How convenient that they decide to throw money at the problem just as they are running out of the White House, with the full knowledge they have not only just destroyed OUR U.S. economy, but also the World Economy ~ who has been busy lending us money hand over fist and buying these bundled mortgages that are guaranteed to fail].
By the time Obama is elected, he is right in the middle of an economic crisis that rivals the Great Depression, with the same type of hecklers!
Well President Obama, I give you a round of applause for staying cool in the VERY worst of times, NONE OF WHICH YOU CREATED!
I appreciate your sound decisions and work to keep us from being eaten alive by the rest of the world. As much as we are blissfully unaware of how really terrible this has been, I have to say things have sucked quite a bit, but not as much as they could have. For that, I also say THANK YOU!
However my biggest thanks is for you seeing the opportunity to create great change that can be long lasting – and fighting back against your opponents for what is right for WE THE PEOPLE!
I am a full time student, and I am making it my personal mission to help people who are in trouble and either late on their mortgage payments or about to be sued for foreclosure.
The battle doesn’t stop at losing your home! After they sell it for next to nothing, you could very well be liable for the rest of the loss – tens or hundreds of thousands of dollars you have to pay back and that will plague you for the next 20 years of your life.
This is NOT a time to fool around. You might be able to get a loan mod using an attorney if you are just late. When you are late 45 days it’s different from when you are late 60 or 90. The sooner you get help, the better chance you have. If you have been served with foreclosure but they don’t have a judgement you might have the option for a short sale where you are released from the loss.
There is an attorney I know, who is my neighbor, and has offices that serve Florida. You need to contact him if you are late or in foreclosure. He has an MBA in business, worked in the mortgage industry and specializes in foreclosure defense. His resume is unlike any other.
