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Originally posted by rtrefflich

This guy has actually made me me and a few friends of mine change our entire political thought process. It is amazing how 8 years of bad decisions can get you in a huge mess.

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Originally posted by GianniD

It's either an obstacle, or an opportunity.

Maybe expressing misery makes people feel better. IMO, the fed govt has very little to do with my business. If I do a great job, most times it due to the people who work for or with me, if I screw up, its on me, not someone else.

All I know is that my business picked up in spring of 01 as rates were dropping, got REAL busy after 911, GOT REAL REAL busy after the corp acctng scandals from the 90's hit in Feb 2002, and then just got insane busy in 03, sometimes even sleeping on office floor and not seeing my family. 01 was my best yr ever, then it was 02, then 03 was, then 04 was, and then 05 was.

Anyone who had record years and didnt sock away at least a 1/4 or a 1/3 of every check for a rainy day has only themselves to blame. (This industry SUCKED in 1994, but I learned a lesson that year that good times never last, nor do easy refis. Dont spend like it will.)

Congress runs the show more than the President, and everything Ive seen of this current Congress is they ******* suck! Maybe one of these decades a Dem led Congress will give us a budget surplus. Hasnt happened yet in my adult life.

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Originally posted by darkstar

Do you think everyone out there lives in a world of D&G?...I wouldn't know there were so many problems out there if it weren't for the D&Gers here on the BO...The people I know, meet and am around everyday aren't crying about how tough life is for them...Outside of the mortgage industry life is still great for many people, and many still in it...

This is an economic cycle that will correct and eventually repeat itself over and over again, oh well...Adapt, change or get out, life is great, if it's not for you, blame yourself, not the economy, lenders, a credit crunch, values or politicians, look in the mirror, there is no one else to blame...

So I'll agree with Bush, I know America has some problems, but I don't see them...It must suck to focus on all the bad news all day, I don't see how you do it, I spend all my time trying to have fun and where to spend my money!...

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quote:

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Originally posted by LoanPro71

quote:

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Originally posted by rtrefflich

This guy has actually made me me and a few friends of mine change our entire political thought process. It is amazing how 8 years of bad decisions can get you in a huge mess.

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Isn't that the truth ...

John McCain will be George W ... Part 2.

Obama will be ... who knows ... LBJ? ... on steroids?

We're screwed.


Or are we?

www.DVDs4Delegates.com

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quote:

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Originally posted by hertz

quote:

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Originally posted by LoanPro71

quote:

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Originally posted by rtrefflich

This guy has actually made me me and a few friends of mine change our entire political thought process. It is amazing how 8 years of bad decisions can get you in a huge mess.

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Isn't that the truth ...

John McCain will be George W ... Part 2.

Obama will be ... who knows ... LBJ? ... on steroids?

We're screwed.


Or are we?

www.DVDs4Delegates.com

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I guess we're screwed according to you because RP HAS BEEN DONE FOR MONTHS. Please give it a rest.

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quote:

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Originally posted by darkstar

Do you think everyone out there lives in a world of D&G?...I wouldn't know there were so many problems out there if it weren't for the D&Gers here on the BO...The people I know, meet and am around everyday aren't crying about how tough life is for them...Outside of the mortgage industry life is still great for many people, and many still in it...

This is an economic cycle that will correct and eventually repeat itself over and over again, oh well...Adapt, change or get out, life is great, if it's not for you, blame yourself, not the economy, lenders, a credit crunch, values or politicians, look in the mirror, there is no one else to blame...

So I'll agree with Bush, I know America has some problems, but I don't see them...It must suck to focus on all the bad news all day, I don't see how you do it, I spend all my time trying to have fun and where to spend my money!...

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Originally posted by rtrefflich

In certain areas of So Cal 20% to 30% of the jobs over the past five years were in the mortgage and RE sector. There are huge buildings in the OC where many subprime banks once staffed thousands of employees which now sit vacant. In addition to the AE's and processors who made tons of money on volume, there are also those affected such as secretaries and janitors who are now unemployed and cannot find work. You have an entire mall that opened up a year or two ago that is now on the brig of bankruptcy and thousands more out of work. many large companies are cutting their "unnecessary" work force and leaving thousands without work. I don't live in Kentucky, and I am a very positive person, however this downturn is affecting everyone in CA regardless of the profession they have.

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Originally posted by darkstar

It's not that, you just don't make policy changes for every crisis, this isn't that big a deal and will soon pass...Soon could be a couple of years, I'm ok with that...

I don't want the government doing anything, so anything they do, I'm probably against...I know people are suffering, there are always people suffering or some industry on the brink of disaster, it just happens to be ours at the moment...Still plenty of business out there for brokers and life goes on as always...It's still nothing new, we've been under these same conditions for a long time, it's almost like it's normal now...Everyone here should be back on their boards in front of the wave by now!...

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Originally posted by bmoran

There are always people in and out of financial, emotional and physical peril everyday.
Is it governments responsibility to prevent and or correct all the ills of its citizens?

This is what communism attempted and not only failed to do but took the lives of millions of its people.

That really is the question. And if the answer is in the affirmative, then to what degree does government intervene?

I would argue as many others that it is government intervention while well intentioned causes more harm then good.

We need a government now and leaders who will be courages enough to stand up and reverse course and release the shackles it has imposed on its citizens through taxation and regulation.


No civilization has taxed itself to prosperity
Governement isnt the answer it is the problem

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Originally posted by LoanPro71

Yeah.

We also need a US Congress that doesn't surrender their Constitutional authority to coin and print money by allowing a secretive and private corporation to manipulate and "manage" the value of our medium of exchange.

It's way beyond stupid to allow this to continue.

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Originally posted by RockSexton

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Originally posted by LoanPro71

Yeah.

We also need a US Congress that doesn't surrender their Constitutional authority to coin and print money by allowing a secretive and private corporation to manipulate and "manage" the value of our medium of exchange.

It's way beyond stupid to allow this to continue.

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I remember the comment made back when the Fed Reserve was created, that part of it's purpose was to prevent inflation. Makes me laugh every time.

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Originally posted by khoiey

I know I learn one thing and one thing only.... "Misery loves company".

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Originally posted by RockSexton

Actually, we need a government that doesn't manipulate it's population into borrowing money and falsely propping up it's economic prosperity and consumer confidence.

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Originally posted by LoanPro71
The Fed CAUSES the inflation... not to mention, they CAUSED the Great Depression. Before the Stock Market crashed, there was $2,400 per person in circulation in the US Economy .... 1 year later ... it was $14.50 per person.

The Federal Reserve pumped TONS of money into the economy during the 1920s while artificially lowering interest rates. As a result ... everyone starting borrowing money and investing in the market and times were good. They were known as the Roaring 20s.

Then .... the Feds pulled almost ALL the money out of circulation and snatched up THOUSANDS of local and regional banks in the process. It is probably the greatest robbery in World History.

Sound familiar? It is happening ... again.

If people can't see what's coming, then they need to have their vision checked.

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Originally posted by RockSexton

This defines the stupidity of his presidency......

"First off, I don't see America as having problems."


http://www.youtube.com/watch?v=keN12U2coK8

You're right G-dubya ....... we're enjoying the greatest time in U.S. history ......the dollar has never been worth less ..... the real estate market has been crippled in the name of making CEO's and investors rich...... the middle class is being brought to it's knees and the credit profiles of millions getting flushed down the toilet........ can't forget the animosity towards us around the world. No. No problems whatsoever.

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Originally posted by Nico

quote:

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Originally posted by RockSexton

This defines the stupidity of his presidency......

"First off, I don't see America as having problems."


http://www.youtube.com/watch?v=keN12U2coK8

You're right G-dubya ....... we're enjoying the greatest time in U.S. history ......the dollar has never been worth less ..... the real estate market has been crippled in the name of making CEO's and investors rich...... the middle class is being brought to it's knees and the credit profiles of millions getting flushed down the toilet........ can't forget the animosity towards us around the world. No. No problems whatsoever.

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If you think GW Bush is stupid, then you're dead wrong. He's actually pretty brilliant. His whole family is really. You don't become the president because you're stupid.

Don't confuse dishonesty with stupidity. He is someone I definately would not want to mess with, and his father scares me even more.

To me, he ranks right up there with Bill Clinton and LBJ on my list of "presidents I definately wouldn't want to piss off".

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Originally posted by LoanPro71

quote:

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Originally posted by Nico

quote:

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Originally posted by RockSexton

This defines the stupidity of his presidency......

"First off, I don't see America as having problems."


http://www.youtube.com/watch?v=keN12U2coK8

You're right G-dubya ....... we're enjoying the greatest time in U.S. history ......the dollar has never been worth less ..... the real estate market has been crippled in the name of making CEO's and investors rich...... the middle class is being brought to it's knees and the credit profiles of millions getting flushed down the toilet........ can't forget the animosity towards us around the world. No. No problems whatsoever.

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If you think GW Bush is stupid, then you're dead wrong. He's actually pretty brilliant. His whole family is really. You don't become the president because you're stupid.

Don't confuse dishonesty with stupidity. He is someone I definately would not want to mess with, and his father scares me even more.

To me, he ranks right up there with Bill Clinton and LBJ on my list of "presidents I definately wouldn't want to piss off".

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So, you're admitting that you're afraid of your own Government.

America ain't what it used to be, is it?

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Originally posted by Nico

quote:

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Originally posted by RockSexton

Actually, we need a government that doesn't manipulate it's population into borrowing money and falsely propping up it's economic prosperity and consumer confidence.

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What on earth are you talking about? Oh, it was the government who told people to borrow. Not mortgage brokers "Interest rates as low as 1%! That's right, 1%!! Fixed rate!"

Come on, don't tell me you didn't get those phone calls and postcards.

quote:

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Originally posted by LoanPro71
The Fed CAUSES the inflation... not to mention, they CAUSED the Great Depression. Before the Stock Market crashed, there was $2,400 per person in circulation in the US Economy .... 1 year later ... it was $14.50 per person.

The Federal Reserve pumped TONS of money into the economy during the 1920s while artificially lowering interest rates. As a result ... everyone starting borrowing money and investing in the market and times were good. They were known as the Roaring 20s.

Then .... the Feds pulled almost ALL the money out of circulation and snatched up THOUSANDS of local and regional banks in the process. It is probably the greatest robbery in World History.

Sound familiar? It is happening ... again.

If people can't see what's coming, then they need to have their vision checked.

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Great Depression was caused by the government and their idiotic policies. Everything would have been fine by 1931 if they didn't get their hands in everything.

The Feds did not "snatch up local banks". That's ridiculous. A robbery? What are you smoking?

Some of you guys are outstanding. First you're on here cheering about 100% neg am loans and No Doc, and now when guidelines tighten up, you're all economic experts and you come on here throwing around this wild fiction.

I wish we could have a REAL discussion about economics.

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Originally posted by LoanPro71

I've never cheered about the 100% neg am .. or the No Doc. And for your information .... the tighter guidelines we are experiencing doesn't have a d*mn thing to do with my political convictions. Whether the economy is booming .... or tanking ... it doesn't make a d*mn ... because my belief system is rock solid, and always has been ... and always will be.

Oh, and as far as the Federal Reserve causing the Great Depression ... THEY DID. In the panic ... they snatched up the smaller banks and absorbed them into the greater Federal Reserve System. This isn't an opinion ... this is an historical FACT.

Thanks for proving me wrong with your OPINION.

Better luck next time.

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Originally posted by Nico

quote:

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Originally posted by LoanPro71

quote:

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Originally posted by Nico

quote:

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Originally posted by RockSexton

This defines the stupidity of his presidency......

"First off, I don't see America as having problems."


http://www.youtube.com/watch?v=keN12U2coK8

You're right G-dubya ....... we're enjoying the greatest time in U.S. history ......the dollar has never been worth less ..... the real estate market has been crippled in the name of making CEO's and investors rich...... the middle class is being brought to it's knees and the credit profiles of millions getting flushed down the toilet........ can't forget the animosity towards us around the world. No. No problems whatsoever.

---

If you think GW Bush is stupid, then you're dead wrong. He's actually pretty brilliant. His whole family is really. You don't become the president because you're stupid.

Don't confuse dishonesty with stupidity. He is someone I definately would not want to mess with, and his father scares me even more.

To me, he ranks right up there with Bill Clinton and LBJ on my list of "presidents I definately wouldn't want to piss off".

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So, you're admitting that you're afraid of your own Government.

America ain't what it used to be, is it?

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Some things about the government scare me. I think the best way to put it is that I have zero confidence in the government, and zero confidence in the population in general.

America is what the people want it to be and allow it to become. Personally, I'm not really into nationalism and flags and songs. People are people and most are about like cattle.

I do however believe in facts and not theories. Theories are alright if you have some facts to substantiate it. But the constant bashing of the Federal Reserve and the banking system by mortgage brokers is a complete outrage. Who's side are you on? Who do you think has allowed you to pay your bills and make money in this industry?

Don't bite the hand that feeds you. That's all I have to say.

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Originally posted by LoanPro71

So ... what you're trying to say is that mortgage loans cannot exist without the Federal Reserve System in place. Please tell that's not what you're trying to say.

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What the heck ... let's take it one step further.

Let's assume that you're right (which you aren't) about the absolute necessity of the Federal Reserve System.

If we can PROVE beyond doubt that the Federal Reserve System is detrimental to the well-being of 300 Million Americans and is destroying our economic system in the long run ... should we still defend it to our last breath ... just because our silly careers depend on it?

Are we that friggin shallow and self-centered?

This is a moral question ... and it's d*mned important.

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Originally posted by Nico

quote:

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Originally posted by LoanPro71

I've never cheered about the 100% neg am .. or the No Doc. And for your information .... the tighter guidelines we are experiencing doesn't have a d*mn thing to do with my political convictions. Whether the economy is booming .... or tanking ... it doesn't make a d*mn ... because my belief system is rock solid, and always has been ... and always will be.

Oh, and as far as the Federal Reserve causing the Great Depression ... THEY DID. In the panic ... they snatched up the smaller banks and absorbed them into the greater Federal Reserve System. This isn't an opinion ... this is an historical FACT.

Thanks for proving me wrong with your OPINION.

Better luck next time.

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Who did price fixing? Who did wage fixing? Who did the New Deal? Who sealed safety deposit boxes? Who did the gold seizure?

Wasn't the Fed, buddy. That was the US government. I'd like to see where the Fed "snatched up" banks and put them into the system.

The Fed system has always had the same branches all over the nation for the way the system has set up. I don't recall ABC bank becoming The Federal Reserve Bank of Dallas or anything similar. The Fed does not operate private banks and does not absorb them. They assist in regulating them and assisting them. Nothing more.

I hope you realize that without the Fed and without the banking system currently in place, you would have been in a completely different field and would NEVER have become a loan officer in the broker world, because the position probably would not exist. At least not as we know it.

Why don't you take all of your commissions paid to you for brokering loans and give it to the Treasury to help this inflationary problem you complain about so much? If you've EVER funded a cash out refinance, then you contribute to the very "problem" that you complain about.

So now I wanna know 2 things.

1) Have you ever funded a cash out refinance?
2) Have you donated your commissions from these loans to the US Treasury to put on the national debt?

If the answer to 1 is yes, and the answer to 2 is no, then I'd say you have absolutely no position and no leg to stand on.

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Originally posted by LoanPro71

Mortgage Brokers would still exist .. to what extent we'll never know because up until now we haven't had the backbone or the brains to try something better than the current system.

As for your question there at the end ...

I'll make my answer very simple for you.

When the Pentagon finds that $2.3 TRILLION they lost on Sept 10th, 2001 and holds the filthy scoundrels holding the money-bag accountable and punish them accordingly ... then I'll hand over the cash. Until then ... don't hold your breath.

Focus on the real enemy.

Clue #1 ... it ain't me.

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quote:

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Originally posted by Nico

quote:

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Originally posted by LoanPro71

So ... what you're trying to say is that mortgage loans cannot exist without the Federal Reserve System in place. Please tell that's not what you're trying to say.

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Let's break it down. The current banking system allows credit to be more easily obtained than with a different system. That means that without it, lending would be more like 60% down with 20% interest on a 5 or 10 year fixed rate. There would not be enough liquidity in the market to have any room for brokers.

Mortgage loans would exist, but not as we know them, and definately no or hardly any brokers. Maybe some private money stuff, but that's it.

quote:

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What the heck ... let's take it one step further.

Let's assume that you're right (which you aren't) about the absolute necessity of the Federal Reserve System.

If we can PROVE beyond doubt that the Federal Reserve System is detrimental to the well-being of 300 Million Americans and is destroying our economic system in the long run ... should we still defend it to our last breath ... just because our silly careers depend on it?

Are we that friggin shallow and self-centered?

This is a moral question ... and it's d*mned important.

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And here's your answer. We can't prove the Fed is detrimental. If you think it is, you need to write your congressman or you can call the President. You have to decide what you'll defend and what you'll attack.

But I say if you're anti-alcohol and you run a liquor store, then you're a hypocrite and your opinion should not be taken seriously.

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quote:

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Originally posted by Nico

quote:

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Originally posted by LoanPro71

Mortgage Brokers would still exist .. to what extent we'll never know because up until now we haven't had the backbone or the brains to try something better than the current system.

As for your question there at the end ...

I'll make my answer very simple for you.

When the Pentagon finds that $2.3 TRILLION they lost on Sept 10th, 2001 and holds the filthy scoundrels holding the money-bag accountable and punish them accordingly ... then I'll hand over the cash. Until then ... don't hold your breath.

Focus on the real enemy.

Clue #1 ... it ain't me.

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Well until then you should remain silent. That's like saying I'm a fugitive and I won't turn myself in for that home burglary until they catch that drive by shooting guy. But in the meantime I'm going to complain about the crime rate.

That's ridiculous.

FACT: You contribute to the problem that you complain about if you've ever done or help facilitate a cash out refinance.

FACT: No one held a gun to your head. You did it for profit (correct me if I'm wrong here).

FACT: If you think what is going on is a crime or unjust, then that makes you an accomplice.

MY OPINION: Your remarks are completely hypocritical based on your behavior.

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Originally posted by LoanPro71

I've written my Congressman so many times that he knows me by my first name.

Write the President? ... LOL ... that's funny. I like that.

The alcohol analogy was weak .. and does not apply to the discussion at hand.

How many Neg Ams and No Docs have you done over the last 7 years?

We'll play later. I've got work to do.


p.s. Let's stop overlapping the posts. Let's consolidate ... makes it easier.

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quote:

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Originally posted by Nico