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Proposal: Use of $700B Bailut Funds

October 7, 2008

Analysis of:The Trickle-Up Bailout | www.washingtonpost.com

The idea that the currently debated $700B Bailout Proposal will benefit Main Street is preposterous in its current state. To assume that by giving the same culprits access to increased capital to stimulate the economy is ludicrous at best. We as the American Consumer must say shame on you do me once, shame on me do me twice. It is critical that we demand that this $700B create real opportunities for consumers and Homebuyers to get back on their feet and improve their financial standing. It is clear as financial institutions continue to merge and buy up assets of other struggling institutions that their financial soundness is fine, they just don't want to lend to the average American, their is no profit in it now.

And the Pendulum Swings the Other Way

May 15, 2008

Analysis of:Say Goodbye to the Specialized Mortgage Options | www.latimes.com

The current market turmoil was created by good old fashion greed. However, it can not be fixed with over regulation, it can be fixed with common sense and a true willingness of both parties, the consumer and the lender to participate in the increased risk of lending that is now prevalant in the mortgage market. The previous lending environment manifested as a result of rewarding many unqualified brokers, loan officers and credit officers for closing loans, without regard to the soundness and veracity and truth of the documents and information. There must be real and pronuced penalties for this behavior for it to stop and you must require people put in a position of making loans to held to a higher standard of knowledge base and licensing. The first issue that must be adressed when dealing with the current mortgage crisis is what to do with the current loans on the books. They must be identified to determine the actual ability and intent of the borrower.

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