winnersdon'tquit

The Bernanke Circus: What Does It Mean for Investors?

The fed. created the "bullets"; (the easy money).
Congress created the "weapon"; (legislation that made available FNM and FRE guaranteed loans to those otherwise unqualified to carry the "weapon").

The banks, created the "loaded weapon" (the packaged consumer loan), then Wall Street placed the "loaded weapon" into a concealed
"shoulder holster", created by themselves and nearly impossible to understand, for distribution globally .

The consumer unqualifieds, as well as the professional financial institutions, then proceeded to shoot themselves in the foot.

The Real Cause of Foreclosures: No Skin in the Game

Tony... you need to get your facts straight!
A quick rewind back to 1970, our first house. $46,990 + upgrades. $56,000. at closing. Bank requirements...$20% down minimum. We scraped up 12K, it wasn't easy, but we did it.Survived the recession that followed. the lousy stock market, and never once considered "bailing out of the mortage". That's the difference between previous generations, and what masquarades today as responsible adults.
By the way Tony... 5 years ago my younger son bought a cute little place, water view, a great starter home, guess what??? he was required to put 20% down. He's still in that house and will be for many years. In the medium to long term he'll make out just fine.
Trader Mark is absolutely right...it's all about the skin in the game"

Get Set for the February Bull Run

YOUR MOUTH TO GOD'S EARS!!

AMEN