Post from Greg of the U.S.S.A

This is a note from my soul brother - Greg of the U.S.S.A. - a most interesting and excellent dude!

The economic problem has less to do with greed from the average person. And that it is more the fault of politicians medling in the market and distorting market forces. In the case of housing, they stron-armed banks into lending to people who the banks knew, would not or could not, pay back. These were then sold by the banks world wide, as the "credit default swaps". Like a virus spreading through a computer, these went world wide. And That Wall Street dirt bag Madoff, along with Congressmen Franks and others responsible, all belong swinging from ropes on the capital mall. I am serious. If there was such a thing as justice anymore, the lives these scum have ruined, deserve that kind of retrobution. How many people will die, as a direct result or indirect result of the stress, job loss and financial chaos? I believe that there are no accidents in politics. This is all a cynical maneuver to get rid of money altogether; and the freedom provided by the anonymity that cash allows. Now, if you buy a couch for $800.00; and sell it for $200.00, 7 years later; the thieves in government can grab more money in the form of taxes on that sale of $200.00!! This, and more that I am sure that scum has already figured on, is headed our way. It is all a rigged power grab, planned in more detail than we will ever know. I pray the Rosary every night now. It is all I can do. And I trust the "greedy" Wall Street types- Hell! I trust the Mafia more- than I will ever trust the Fascists that now create crisis to grab our freedom. In the end, they'll convince "The Great Unwashed" that "It was a failure of the markets". This Capitalist pig will never buy what they're selling- no matter the argument.
Post this to your blog and see what happens! You may now consider this conservative as a fellow traveller of anarchists. My only real problem with them now is: they still need to replace the municiple garbage pick-up and snow removal with a viable alternative. Don't even start me on public schools! I see no need of them, such as they now exist anyway.
Well...I'll climb down off of my soap box now. I'm just wondering when I have to start greeting people with the word "Comrade". (Sigh!) Take it easy comrade.
Greg of the U.S.S.A.




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President Barack Obama and other stuff

Well the world has turned. Good luck and all the best to the new U.S. President. I don't envy his position but I do wish him well. And what a load of work the poor man has to do. The economy, Iraq, Afghanistan, etc.

Since I am a banker by profession or trade I can only offer this advise. Being from Canada, the U.S.A. has to better regulate it's financial instritutions. They have lost the assett of common sense - that is why lend money to deadbeats? This subprime mess was all a result of greed. Pure and simple. If one has a sub par credit history-most of the time it is an indicator that an individual is not paying their bills even when they are working, or they are abusing thei credit, or using their credit to supplement income. People-grow up! Save some cash-don't just spend it. I have seen way to many people refinance their assets to pay off credit cards. What do the idiots do? Crank up the credit cards again. This cycle of loans keeps banks happy in profits until there are no more assets to borrow against. And the consumer then goes under. You only need one credit card. Not twenty or thirty. Those with a stash of cash and clean credit (like me) will dicate what a banker can do - I tell my personal banker to get stuffed repeatedly - I have a line of credit, I don't need it increased.

The moral of this story-LIVE WITHIN YOUR MEANS-if you can't afford it don't buy it-If you want a $50,000 car-think about it-the bank will find a way, along with the car dealership-to get it financed for you. However, do you just want to work so you can drive and pay for a car? Higher payments than what you want and then what happens? You start using the plastic just to make your every day expenses. Maybe a $25,000 car would have been better. ( my car cost $20,000)

So all you bankers out there-don't get greedy-a smaller performing loan portfolio is more profitable than a large non performing portfolio.

Cheers and give me your comments.