Go figure!!!

Explain this to me please.... congress and the media blamed the mortgage industry for writing what was called sub-prime financing... to people with feces for credit and little or no cash in the transaction... and then blame mortgage brokers for the entire melt down... and soooooo here we go to the Fannie Mae HomePath web site... seems that they have those REO's to sell off...
http://www.fanniemae.com/homepath/financing/index.jhtml

• Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
• You may qualify even if your credit is less than perfect
• Available to both owner occupiers and investors
• Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
• No mortgage insurance*
• No appraisal fees
• Also eligible for HomePath Renovation Mortgage
  
• HomePath Mortgage financing is available from a variety of lenders...

Guess when the government does it all is good... do as I say not as I do...

What am I missing?

The Return of TARP!!

Word has it that many of the recipients of the TARP funds want out of the program and wish to return the money... so the $3 trillion question is... what pray tell will the Cacophony of Conceited Condescending Clueless Clowns of Congress do with those funds... dump them into the general fund and go on another spending spree OR, do the the intelligent, prudent, smart, fiscally responsible thing and instruct Secretary Geithner and Chairman Bernanke to turn off the printing presses... and spend every bogus dollar buying back as much of our new found higher interest rate debt as is feasibly possible...

To do so would stabilize the dollar, increase world wide confidence in the credit worthiness of the United States and signal to the world that we are acting like adults. It would lower interest rates, or at least keep them steady, allowing for lower long term mortgage rates to return; thereby providing a boost to the real estate markets... It would show that we have a handle on this situation, and are willing to control spending... if not... go look up the term run-away inflation in your Funk and Wagnalls...

False Hope

There was a spike in pending real estate sales last moth... the markets are all excited... the end of the depression is at hand... a light at the end of the tunnel... wrong...

Pray tell, how many were NOT either an REO or short sales... how many are NOT being financed by the FHA... should they all closes, how many will have an LTV below 95%... how many of these Buyer's have a FICO score that would pass muster at Fannie or Freddie...how many have borrowed down payments and non-occupant co-borrowers... don't get too excited... in failing to properly address the foreclosure issue, that great Cacophony of Conceited Condescending Clueless Clowns of Congress has made certain that "the markets" can stay all a twitter for no less than another 2 years... too bad that Disneyland isn't still selling "E" tickets...

In funding what can only be described as sub-prime loans, isn't the FHA merely laying the ground for the next real estate crash? ONLY a Realtor, Congress, Wall Street, media and the truly naive' believe that a person losing their home is a marvelous business opportunity...

What am I missing....

The silence is deafening

Gasoline prices at the pump are on the rise... the policies of the Fed and treasury have now diven oil prices up some 30% in the past few weeks... compounded by their desire to see a weaker dollar...

Ah, but have you noticed that there hasn't been one word of concern from our cash strapped state and local government's??? The now dollar rise in pump prices equates to an approximately 31% increase in sales tax revenue...

Based on a daily consumption of 1.14 billion gallons of gasoline here in California alone, that amounts an increased daily "take" to the state coffers of $70 million dollars, ... plus any add on sales tax to the counties...

The silence emitting from Sacramento, Albany, Springfield, Harrisburg, Boston, Tallahassee, Juneau, Annapolis, Austin, Atlanta and the rest, is deafening...

I'm not sure just how much longer that we can afford these tax cuts...

The silence is deafening...

GM, Ford and Chrysler shedding dealers... and the Administration and congress are mum... "we the people" broke up Ma Bell to increase competition and give the public lower prices... "we the people" did away with deregulation of the airlines to increase competition and give the public lower prices... BOTH actions have proven to have been a mistake... the SEC blocked the merger of Dish and DirectTV to keep the competition and give the public lower prices... the rational being... competition keeps prices low.... What am I missing here....

Fewer dealers = less negotiating for price = higher prices= higher sales and personal property taxes... Now I get it....

Have you noticed the deafening silence from government over the higher gas prices??? The sales (7.75%) tax on a gallon of gas at $2.25 = .$. 171/2 ... and at
$3.00 = $23.1/4 ... a 25% tax increase... Now I get it...

Wall Street and Government love the lowered value of the dollar... making EVERYTHING tied to a barrel of oil more expensive to produce... and will cost more at retail... higher prices = higher sales tax... Now I get it...

A real Forest Gump this one!! With big government now in big business... hmmmm big government.... big business... yeah the same thing... life may be a box of chocolates... but each piece now has a bite taken out....