I talked to bankers and mortgage brokers today who were swamped a week ago and some of them had fully half of there new loans put on hold today by customers after this announcement of perhaps lower rates. There were loan officers who told me that they did not have a single customer all day and the only calls they got were to put things on hold. Title insurance companies seeing the light at the end of the tunnel realized that they have to capitalize losses for at least another 2 months instead of one. I have an insurance agent friend who was doing upwards of 40 home owner’s policies or verifications a day since the rate drop and today did one.

The real estate market was surging. Just one smallish mortgage lender I am very familiar with was locking in over $1 Billion a DAY in new loans before Thanksgiving and today they were just as busy as the last few weeks with phone calls putting numerous of those locks on hold. They killed the market that was just coming back. *bangs head on wall*

It is one thing when the gov’t isn’t helping you or is even a surmountable irritation, but it is another when the gov’t is acting against the best interests of small business, the people and the nation. I think I have finally lost all faith in our government.

http://www.dvorak.org/blog/?p=32754

Well, except for stock tips and predicting the outcome of Auburn football games and stuff like that…

On December 4th, 2008 at 8:43 pm, IndependentTom said:
I have to agree with WarEagle on this….not everything is about homosexuals…

Now, if Ellen made a cartoon movie about lesbian fish, I bet we would not be showing that movie to our kiddies…

To “straights” not everything revolves around sexuality. That is one of the main problems with the homosexual crowd.

Why? Because the 4.5% is for new loans. As far as I can tell, people are foreclosing on old loans. Moreover, this will cause a slow down in new home purchases. Who will go to closing knowing that in a month, or two, that they may get a lower rate?

So now, with this silly thought, we have foreclosures that are going to continue and new purchases that will be delayed. How stupefying? ARRGH!!

Someone please tell me what did Pres Bush see in Paulson to appoint him to this position? Why is Pres Bush allowing this guy to continue to speak?

I believe it is unfair to critisize without offering an alternative.

If the motive is to save the economy from total collapse, then do what was done successfully in the ’80’s. Establish, . . . excuse me, re-establish the Resolution Trust Company and have them buy these non-performing loans. Even if the RTC were to buy half of the bad paper and re-work them, have the Financial Institutions eat the other half, it would help. Don’t do anything that would involve buying stock in Financial Institutions (yes, too late), because that would only be of service to stockholders.

[NOTE: Buying stock involves brokers and they get paid. I wonder how much it cost us, in broker fess, to buy stock?]

Get the bad loans off the books of the financial institutions, first. And yes, this will eventually help the stockholders. But, they will have to hold onto their stock to realize future gain. What will that do? Re-establish confidence in the market and slow, or hopefully stop, crazed anxiety and selling from fear.

And, really . . . Pres Bush Please stop your appointee, Paulson, from talking. I mean, is he doing favors in the hopes of getting a job, with a financial institution, after you leave office?

Every time I read about a new Hank Paulson save-the-economy initiative (there’s a new one every day!), I think of Dory the fish from “Finding Nemo.”

Surprising that you would watch a movie starring an outspokenly gay voice actress. Enough to know the words to one of her songs.

It hardly seems to fit in with your frequent tirades against all things homosexual, as you try to reshape the GOP

I hate to sound like a conspiracy nut but how can the government ALWAYS do the wrong thing? Are they really so clueless as to be so WRONG every time or do they have a different agenda?

Some of both. Those who make it happen, those who let it happen, and everybody else who are left wandering what happened.

On December 4th, 2008 at 6:35 pm, love2rumba said:

Just keep flailing, flailing, flailing…

That’s the plan, man! I think there are government officials who want the US to go under.