http://www.youtube.com/watch?v=hxMInSfanqg
On Sat, Jan 31, 2009 at 11:33 AM, Jordan <[email protected]> wrote: > Tom Piwowar wrote: > >> It was a natural (and expected) correction to an artificially inflated >>> market. Plenty of blame to go around. But, you go right ahead with your >>> banker fetish. >>> >>> >> >> Once again you cherry pick examples and omit the critical part of the big >> picture. >> >> The major part of the housing crisis was triggered by banks that were too >> quick to foreclose. If they had worked out the mortgages, most of the houses >> would still be occupied and money would be flowing to the banks. Instead >> they foreclosed and now have bupkis. >> >> The rest of us are hurt because there are too many empty houses on the >> market. >> >> The situation will self-correct in phase II. The now empty houses are now >> being raided by scavengers. First they pull the appliances. Then they come >> back for building parts. Third pass rips out the electric wiring for the >> copper and any metal plumbing. The resulting house is unsellable and >> uneconomic to repair. >> >> Local communities need to get tough on these banks. They need to send out >> building inspectors and levy hevy fines on banks that fail to maintain the >> property they own. For many communities this would be a money maker. A fine >> capitalistic incentive to enforce the laws. >> >> Bankers are idiots. They should be compelled to give back the fat bonuses >> they paid themselves. >> >> >> >> > But, of course, this was all caused by deregulation and blinders about the > results. > > > > ************************************************************************* > ** List info, subscription management, list rules, archives, privacy ** > ** policy, calmness, a member map, and more at http://www.cguys.org/ ** > ************************************************************************* > -- Make sure you support your local CarbonONset programs! ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
