Well composed. I don't think you're "apart" of the problem. The banks, lenders and brokers convinced THOUSANDS of Americans to make bad decisions, even if they were slef-doubting (as you were-- you obviously did your homework). Unfortunatlely you fell to the demise of the national social engineering plan to sell sell sell, when the economy couldn't sustain these same thousands of americans who would later not be able to keep up with the payments needed to keep their property.
Shame on Connie, the thousands of people like her, and the banks who have done this to this country. I think it's ludicrious that we're doing a bailout. McCain should be pulled from the running of President, since his posse were the prime contributors to this problem. And well, I'd love to sit on Palin's face just after taking a big steamer. She deserves a shitty nose.
Britta contacted the owner of the company Connie worked for and she gave us credit repair information. I spoke with several attorneys about legal repercussions, and was told that what while what she did was toeing the legal lines she did not break the law. In Washington at the time there was no licensing requirements to be a mortgage broker, no background check, and no oversight. These lax conditions led to more then just the mortgage credit crisis. Convicted felons were becoming mortgage brokers at an alarming rate. Huge fraud and identity theft cases were popping up with mortgage brokers at the center. When you buy a house your broker has all the information and permission at their disposal to commit identity theft. Some people who are facing foreclosure and credit issues may not even know they were taken by a person who they should have been able to trust
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not a schmuck
anonymous
October 5 2008, 01:48:08 UTC
My dear, you are not to blame... although you and people like you were a PART of the problem, when it didn't have to be that way. As your spouse pointed out, you all would have qualified eventually for a loan (please not a bigger one! just like a man, I tell ya!) Many, many people got caught up in the thing but they were unable to refi... and then they lost their jobs or got their hours cut. (760,000 job losses just this year!)
So, do you remember the "money" guy that Connie would refer to, and that guy would refer to his money peeps... well, they are the ones who will really benefit from the bailout. And ultimately, we all might be helped a little, trickled upon; because the alternative of do nothing at this point would be certain disaster. Although, from the look of the stock market after the bailout... we might have already passed the turn around point and now we are heading over the waterfall and there's nothin' to do but hold on to your britches.
Re: not a schmuck
anonymous
October 5 2008, 16:27:52 UTC
re: read the Seattle Times article that grampa posted on the family site, it explains it better than I could have. IN summary: If we must lay blame then it was the fat cats and predatory lenders; it was the Bush admin who slashed regulation and standards for loans; and it was our elected officials in DC who didn't stand for the right thing... which ultimately falls back onto9 the people's shoulders who elected them.
I agree with everyone who has posted. The blame here lies on the predatory lenders and the bad policies that enabled all of this to happen. Hindsight is always 20/20. I can appreciate feeling guilty since you went against your initial gut instinct, but you can't expect to know everything in every situation before you make a decision; you go with what you do know based on the information at hand. Furthermore, even if you did make a bad choice, it was not simply a choice made by you, but rather someone pressured and manipulated you. At least you tried to make an informative decision, which is more than what many people did. You can't blame yourself for not forseeing this, but you can blame those who pushed, manipulated and out-right decieved. So, even if you feel guilty because you think you should have known better, recognize that a mass majority of the blame is on others
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Comments 6
Shame on Connie, the thousands of people like her, and the banks who have done this to this country. I think it's ludicrious that we're doing a bailout. McCain should be pulled from the running of President, since his posse were the prime contributors to this problem. And well, I'd love to sit on Palin's face just after taking a big steamer. She deserves a shitty nose.
(end rant).
-HUG-
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So, do you remember the "money" guy that Connie would refer to, and that guy would refer to his money peeps... well, they are the ones who will really benefit from the bailout. And ultimately, we all might be helped a little, trickled upon; because the alternative of do nothing at this point would be certain disaster. Although, from the look of the stock market after the bailout... we might have already passed the turn around point and now we are heading over the waterfall and there's nothin' to do but hold on to your britches.
Love,
Your LaLa
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