A few things have caught my eye this week
it's not an all-inclusive list
so anyway, the past week has been a blur, highlighted by a "Black Friday" at my thankless Stoopid.Business™ job; 80 (eighty!) people got sacked, we're talkin' blood on the floor and growd men crying; so my compelling urge to blog has been somewhat subdued. Add that to the fact that my Stoopid.Business™ employer just got de-listed by the NYSE.
Yeah, it's been a stellar week. Tell me agian why I didn't study Marine Biology or go to Culinary Arts School?
Anyone? Is this thing on?
anyway, a few other things left a mark on me in the past few days:
My personal favorite quote of the week:
...or the threats to sue mortgage lenders for redlining and not making loans to the same folks based on the dead, white male concept of doing the fucking math... (Uncle Jimbo, posting at Ace of Spades HQ)Embolding mine.
"...the dead, white male concept of doing the fucking math..." Dude, I'm going to get weeks of use out of that line.
Elsewhere, R.S.McCain drops any pretense of civility and lets us know what he really thinks:
Foreclose and Evict the Deadbeat Scum
It's along the lines of "your mortgage is not my problem", only a bit harsher. And That's.A.Good.Thing.McCain's premise, in a nutshell:
That's why I've announced my own plan, "Foreclose and Evict the Deadbeat Scum" (FEDS). It's very simple:Speaking as someone who is currently upside-down on their mortgage, I whole-heartedly endorse his FEDS plan. But you already knew that....
- The banks take back the houses currently occupied by deadbeat scum.
- The deadbeat scum either find a place to rent, or move in with relatives, or go straight to hell. It doesn't really matter. We're talking economics.
- This creates a housing occupancy in the homes formerly occupied by deadbeat scum.
- The banks must either (a) sell the homes for whatever the market will pay, or (b) rent the homes to people who weren't foolish enough to take on balloon-payment mortgages.
- Whatever the ultimate result -- and rents for homes made vacant by the FEDS program may need to be reduced in order to attract tenants -- the point is that the excess-valuation problem in the housing market will be resolved, so that prices once again reflect actual supply and demand.
- Homeowners who don't wish to participate in the FEDS program can opt out by making their fucking loan payments, like they fucking agreed to when they fucking signed their fucking contracts.
More soon
0 Comments:
Post a Comment
<< Home