The housing market is 4% of the entire economy. And then sub-prime mortgages are like 15% of that 4%. There isn’t a problem people. Wal-Mart’s parking lot is still full.

Why can’t the government go after the snakes that allow these people to get loans in the first place? Oh wait. The lobbyists are paying them too much. Blergh.

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hln

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I am not an economist, although I do subscribe to The Economist Newspaper from the UK. It is a better weekly magazine than Time or Newsweek here (left-wing rags, both of them.) And I read at least the editorial page of the WSJ each day.

It doesn’t take much intelligence to handle a mortgage (although I’m waiting for a CD to come due before I pay mine off.) And, as a board member of my townhome association, I see nearly every month the results of people buying too much house. It costs us because the government allows a six-month period before the bankruptcy court takes the home. And, then, it will be sold as a HUD house, which doesn’t bring as much money.

(But we will get some of our owed dues. Not all, by any means, but some.)

Your report shows that you are very intelligent (which actually surprises me, because I normally would not say that about an attorney. I tend to think of attorneys as I do about Dickie Scrubbs (or whatever his name is), who pleaded guilty to fraud. Not what he did to ordinary men and women, but what he did to other lawyers.

(The fact that you did not keep up your license is a very good thing. Being a member of a bar which allows bottom sucking scum scrubbers like the aforementioned attorney, and another one in Texas who was sanctioned for abuse in the various lawsuits about silicosis, is not something a mother should do.)

By the way, VK for President (when she gets old enough).

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We were duped by a scam when we bought our house. It’s not a fancy house by any stretch of the imagination and the guy is now in federal prison on fraud charges. Even in the middle of our stupidity we got into a fixed rate mortgage on a house that was within our budget.

Despite the fact that the man is now serving a prison term, we have no recourse on what he would owe to us because the case took so long to prosecute. Statue of limitations is up. So here the government is now willing to bail out people whose eyes were bigger than their pocketbook and made stupid decisions accordingly.

I’m so to freaking death of people who do the right thing getting screwed over while idiots get a free pass.

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