The Latest Bailout

Have you thought about who has to approve this? One guess. C O N G R E S S !!!!

Have you thought about who caused this? C O N G R E S S !!!!

Like many others I have lost boo koo monies (on paper) in the past few days. Am I pleased with what has happened, or is happening today to 'fix' the problem? No I am not. Unless and or until the market is allowed to correct itself, we will relive this over and over again. I have not and will not pull my meager funds out of the market. Many have, thinking the losses they have sustained to this point are enough already. My philosophy, and it may be bull steinofsky is this: If the monies I have (well diversified) in the market all goes poof, then any $ I might have in cash will be worthless anyway. In the meantime, assuming the crisis gets resolved, the market is the ONLY place to make / beat inflation... historically speaking.

Congress forced banks way back in the 90s to begin giving mortgages to those less fortunate. Remember the term 'red lining'? It had to do with banks disqualifying perspective homeowners because they could not afford a mortgage. Congress in its wisdom forced the banks to lower the standards. Are the banks blameless? No, but just think how it began. And, since the 90s it has progressed. And both parties are to blame by the way.

Did you ever think that some people are not meant to have a mortgage? Sometimes the most complex seems so simple, and while I realize this is a simplistic statement, it 'is' where it all began. You, Mr. John Q. Public who has been working your buttocks off to pay your mortgage are now going to pay for those who should never have hod one in the first place. Bend over Sir and or Madam. It begins to feel good once you get used to the in/out motion.