Just a quick note: Foreclosure is NOT profitable. Not at all. These companies don't want anything to do with owning a house, especially if the market is in the crapper.
More government control is never the answer. Ever. You can keep repeating that sick delusion of yours ad infinitum, but that doesn't mean it has worked, or will work.
Stupid people should suffer the consequences of their stupid actions. We sit here and laugh at the fools on Youtube who face plant trying a new skateboarding trick or try to kitesurf in a freaking hurricane. But the moment comes to humiliate both the borrowers who are retards, and the lenders who are just as retarded, and we waffle on it? We feel sorry for them?
Now suddenly we must use the money of the Americans who had the sense to NOT play russian roulette with their finances to bail out mislead corporations and deluded hedge fund buyers?
mask that. I don't care what Eagl says may be the consequences. These people must dig their own retarded tulips out of their own graves.
If any corporate entity engaged in the mortgage-lending industry was misled, it was by the carrot of high profits resulting from higher and higher total purchase prices, meaning larger loans and more money from interest. It was hung out there on the pole of greed, that's now going up every taxpayers' rectum sideways with gov't. bailouts of these same greedy companies.
Sadly, more people than just the lenders' were involved. Realty companies' could have done something about it too, but they were raking in more and more money on commisions, so they just rode that pony into the ground as well.
They had an unspoken responsibility to themselves, to keep the market stable. But, just like irresponsible children, they shouldn't have been left to their own devices. The theory of market self-regulation failed miserably in this case. Now, at this point, If we can ever dig ourselves out of this mess, we are gonna have to make the HUD (Department of Housing and Urban Development) figure out what it is gonna do in the future to keep a closer tab on what's going on in their sector of management; If they have to enact new rules, if they have to put in different guidelines,
If they have to have someone like a Soviet-era commisar walking around shooting the corrupt ones' at their desks, the sooner the better. How many hits' to our economy can we take like this, anyone? If we ever even see the end of this one?
