1 - 3
In response to:

Obama Says Is It Government and Luck

Itoldyouso Wrote: Jul 16, 2012 8:37 AM
Children are all loved by their families, and are generally helped equally in their start in life. Some, of the same family succeed and some fail. Is it luck.? We all know the answer. I worked every day of the week to succeed while others played. Still there was no guarantee of success, and failure was always around the next bend. You had to steer around it. The president wants to assure failures that it was entirely outside their control, that their failure was only due to bad luck--- not their effort or ability. God help the next generation if he succeeds.
I recollect that it was the rank and file that were always out on the picket lines, not the union leaders. The workers demanded the increased benefits and gladly accepted them. Taxpayers be damned. And I guarantee that the workers will resist the coming cuts at every turn.
In response to:

Home Price Bottom While Sales Stumble

Itoldyouso Wrote: May 11, 2012 10:43 AM
Sadly, I think Mike has this one wrong. There are a potential of 10 million homes to be cleared before the REOs become history. Until a fix is found to stabilize defaults there will be no meaningful uptick, and if interest rates begin to rise in 2013, there will be a continuing stream of new defaults on ARM loans. Part of the answer is to stop propping up Fannie, Freddie and the banks. Instead, existing ARM loans should be modified to create new 40 year loan terms at reduced fixed rates, such as 2-2.5%. This will bring monthly payments into an affordable level for most of the loans and save the banks' losses on inventory. Folks with upside down loans would stay put, and the market would stabilize.
1 - 3