I along with millions of others watched the VP debate last week to see which foot Governor Palin would put in her mouth or if Senator Joe Biden would hit on her. Palin did better than expected by many - especially after the Katie Couric interviews and Biden kept his hands to himself. Normally I quietly sit on the sidelines and let Monty and Bob duke it out over the political scene, but this time the fire was a little too close to home to ignore.
The question - who is at fault for the subprime mortgage meltdown? According to Palin - it was the greedy lenders.
Greedy Mortgage Lenders caused this??? I can't believe the Republican Party is taking this stance. Politicians at this level are supposed to have advisers that understand the complex issues and help the candidates put them into words the public can understand. But instead of spreading the blame to the parties responsible - they decide to take the low road and blame the dirty mortgage lenders.
Who do I think is to blame? All of us. We all share some of the blame. I saw a great post on Blown Mortgage titled Pyramid of Greed.
This is the most accurate description I have seen to date of who really is to blame for this mess. Great job Morgan.
I wish there was a candidate that would tell it like it is and not what some focus group thinks the public wants to hear. I wish the candidates would just answer the questions and not divert attention to something they want to discuss. We are now only four weeks away from the election and I have yet to see that candidate.
Ronnie,
I whole heartedly agree. I believe both VP Candidates blamed it on the same thing. Greed is something we all need to address in our personal and business lives.
Back in the 90's when Clinton said "everyone should be able to afford a mortgage and buy a home" was the true opening of most greed avenues. The opportunity was not missed by many.
I have always been a traditionalist when qualifying buyers (yes I do it myself first for the client's benefit and mine). Likewise, in today's market, I am giving a smaller group of sellers the opportunity to understand what (and why) buyers are up against.
Underwriters, appraiser, lenders and REALTORs have really gone cautious... and we all needed to. This, on top of a flood of people who over bought and may have realized too late to make it sell, are all too slowly coming to that realization.
As a younger man, I learned that when I point my finger to blame someone else, three fingers point back at me and the thumb points high towards the man who taught us how to live the truth.
Now that I am older, maybe a little wiser, and certainly in an arena worthy of setting an example to many, I think I will focus a little on practicing what I know is right. It is time to cut to the chase and rid ourselves of things that cause and promote stress. There is health, fitness and a Dollar value on these things.
I guess we remain those who will "tell it like it is" from the sidelines! Keep it up! If you were in Ohio, you could follow the saying... "Vote early and often" but here in NC, we are stuck with one voice!
Let is sound into hills from the beaches and cross the piedmont, but most of all... live and set the example in yours and those around you will follow suit!
Bill Holt -- http://www.obxneighborhood.com -- On The Outer Banks
Posted by: Bill Holt - RE/MAX | October 06, 2008 at 11:26 AM