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Woodsy · 09-30-2008, 08:48 AM

Its not just the real estate meltdown that is causing this.... and it certainly doesnt fall with the liberals either! Its a perfect financial storm... The 600 BILLION dollar war in Iraq, sub-prime lending, speculators driving up the price of oil, huge corporate mergers, etc... The list goes on!

The easy fix for the real estate crisis was for the banks & mortgage companies to work with the property owners and rewrite the notes to make them affordable. Who cares if they blow the note out from 30 years to 40 or 50? Some cash flow is better than no cash flow especially when your talking
physical property!

Make no mistake... you and I are going to pay for this mess. The estimate I heard this morning was that 1 TRILLION dollars evaporated yesterday... another TRILLION was expected to evaporate today! This our money, mom & dads retirement funds, college funds, savings! all gone!

Its going to be very interesting to watch what the govt decides to do next....

Woodsy

09-30-2008, 08:48 AM	#8
Woodsy Senior Member Join Date: May 2004 Location: Weirs Beach Posts: 1,966 Thanks: 80 Thanked 980 Times in 440 Posts	Its not just the real estate meltdown that is causing this.... and it certainly doesnt fall with the liberals either! Its a perfect financial storm... The 600 BILLION dollar war in Iraq, sub-prime lending, speculators driving up the price of oil, huge corporate mergers, etc... The list goes on! The easy fix for the real estate crisis was for the banks & mortgage companies to work with the property owners and rewrite the notes to make them affordable. Who cares if they blow the note out from 30 years to 40 or 50? Some cash flow is better than no cash flow especially when your talking physical property! Make no mistake... you and I are going to pay for this mess. The estimate I heard this morning was that 1 TRILLION dollars evaporated yesterday... another TRILLION was expected to evaporate today! This our money, mom & dads retirement funds, college funds, savings! all gone! Its going to be very interesting to watch what the govt decides to do next.... Woodsy __________________ The only way to eliminate ignorant behavior is through education. You can't fix stupid.