Driving through Palmetto Florida this morning I read the following sign
at a car dealership, “Out of a job? Buy a car!” What a sign of the
times!
Of all the ruckus caused by the current financial crisis, some people still haven’t learned anything.
Will
these lenders never learn, sometimes there are people who just can’t
afford to buy anything at the present time, being out of a job means No
paycheck! Hello! No paycheck, no pay!
How hard is that to comprehend?
With
all the loans lending institutions were practically forced to make
because of government interference,it is no wonder we are in a
financial crisis! Many of the loans were called “Pulse Loans”, in other
words, if an individual had a pulse, a loan was granted, no income
verification, no proof of even having a job was required. This practice
was condoned and encouraged for years. President Bush as well as others
tried to make changes. Just as with social security, the liberals in congress, there are liberal Republicans as well, declared the programs
were sound and nothing needed to be done. Now we know that was not
true, in the future we will find the same situation with social
security as well.
No matter how much finger pointing is done,
the root cause of the current problem is congress, particularly the
democrats, their finger prints are all over it. In their zeal to make
everyone equal and provide everyone with a home, regardless of
qualifications, it was determined that the requirements to qualify for
a loan were lowered, no longer was it necessary to have a 20% down
payment, or a need to use the old adage that the monthly loan payment
could only be equal to one weeks gross income.
Now the very same
people, the people who created the problem are in charge of fixing it,
Barney Frank, Chris Dodd, Obama has fingerprints all over this, as well
as his two chief financial advisers, Johnson and Raines, along with
others.
Then what do they do ,create a bailout bill with a
stipulation that 20 % profits created from the sale of foreclosed homes
would go to ACORN. Acorn is a left wing organization that was in the
middle of this mess, they also work to register undocumented voters,
they are pushing for same day registration , and create an environment
whereby people can register to vote many times, one individual was
registered in 35 different precincts. In Seattle over 1000 people had
the same address. It is no wonder this bill was defeated!
The
senate is now revising the bill. Lord only knows how much pork will be
in it, pork that will raise the costs and provide much unneeded funding
for projects no one really needs. Reportedly one large piece of pork
provides for about 6 million dollars in tax breaks for a manufacturer
of wooden arrows! HUH? How big a need do we have for arrows,
especially wooden ones? Aren’t these liberals against killing animals?
Congress has a 9% approval rating, do we really want to re-elect these people,
it’s like having the chickens come home to roost, and letting the fox
guard the hen house.
Treat yourself and reserve a Hilton Grand Vacation today!
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