Wednesday, January 23, 2008

Give me some of that cash!

From Bloomberg.com
http://www.bloomberg.com/apps/news?pid=20601087&sid=aP_dK4hKcQq8&refer=home

Dodd Seeks U.S. Program to Buy `Distressed' Mortgages
By Alison Vekshin
Jan. 23 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd proposed a federal program to buy loans at steep discounts as part of an effort to help homeowners avert foreclosures in the wake of the subprime mortgage crisis.


Ok that is fine and dandy but what about me? Cant you give me like 800k to buy a nice little house? I swear I will put in like 10k for a down payment? Im good for it!

Why are they bothering to try to bail out all these people. Its lost, the value of housing cannot stay as high as it is. I am a young (sorta) professional with a decent job (for now) and I cant afford a decent house?

I almost bought at the top a 400k house and was outbid. I am glad I ran into sites like Patrick.net and people like Peter Schiff. I made a lucky decsion not to get into the housing market and it seems like the wrong one. I should have bought that 500k 1 bedroom condo. It seems the govenerment would want to help me if I had done it.

Well F the Government and their housing welfare I dont need it, Im an American! I will trudge away at my job (before they lay me off) and will continue to save and make prudent decisions in my life. When hard times hit I will hit them back with hard work like Americans have always done.

This bust will be a good thing I think. It will bring Americans back to reality and show us what we are really made of. Depression/Stagflation will suck but it will make our country great again when we cut off all the bad limbs of the past few decades. America can be great again.

Oh yeah, If I was mega rich, I would just laugh off this post, fly to cannes and have a good time. Being poor sucks! Viva Money!

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