Neverending Questions (a quatrain poem)

Shattered dreams resonate within her mind,

Filling her heart with hate;

knowing that prayers are too late

and nothing can change her fate......

Wordless Wednesday

The Yankees Go Home

Eat THAT you Wankers, I mean Yankees! For the first time in 14 years, no October. That sucks. I may not like you guys, but I have to admit, I feel bad for you. Usually you guys are really good; just not this year.

Red Sox clinch playoff spot by beating Cleveland

So Wall Street gets bailed out (maybe) yet I am going to pay the price by being out on my ass at age 70......

Being in the mortgage industry I’ve seen a lot of stupid crap.

Crap like people with credit scores of 500 getting 100% home mortgage loans.

Crap like people with over $40,000 in collections listed on their credit report, getting 100% home mortgage loans, and the collections not having to be paid off.

Crap like prominent doctors getting 100% interest only arm loans for a mortgage on a new home valued over $400,000, while placing a bridge loan on their current primary residence (valued over $200,000) thinking it will sell before the bridge loan comes due.

Crap like people getting a 95% home mortgage loan on a trailer (YES trailer. What do you think a mobile home is?) where the lot it sits on is valued more than the tin box. Meaning if the borrower goes into foreclosure, the bank is screwed because the majority of the value is coming from the land and not the home.

The list goes on and on….

Sure, lending laws made it easy. Lending laws made it easy to up the value of a home so that the seller could increase the sales price in order to add seller paid closing costs to the mix because the buyer didn’t have more than $100 in savings, yet still they wanted to buy a house at no out of pocket expense, when they could barely pay their rent. And lending laws made it easy to do so.

People got greedy. Lending laws made it easy for an investor to have 10+ properties financed when they had no nest egg to allow for vacancies – meaning the investor had no savings to make the monthly payment on their own volition should they not have a renter in place who paid, or paid on time.

And where does all this get us? It gets us to the point where the government is going to increase the already increasing deficit by “lending” $700 BILLION to bails these lending institutions out so these dead beat people who didn’t pay their bills to begin with won’t lose their home. To bail out these lending institutions who made the dumbass decision to give a loan to a doctor whose debt to income ratio was at 60%+ WITHOUT taking the bridge loan into account!!

Clinton loves the idea of the government bailing these Mensa members out. So does the Bush administration. They are pushing for it. And who is going to pay for it?

Well let’s think about that one, shall we?

• The Wall Street Bailout Plan, Explained by David Stout
  Tuesday, September 23, 2008
  provided by The Wall Street Journal
  
  Q. Who, really, is going to come up with the $700 billion?
  A. American taxpayers will come up with the money, although if
  you are bullish on America in the long run, there is reason to hope that the tab
  will be less than $700 billion. After the Treasury buys up those troubled
  mortgages, it will try to resell them to investors. The Treasury’s involvement
  in the crisis and the speed with which Congress is responding could generate
  long-range optimism and raise the value of those mortgages, although it is
  impossible to say by how much. So it would not be correct to think of the
  federal government as simply writing a check for $700 billion. It is just
  committing itself to spend that much, if necessary. But the bottom line is, yes,
  this bailout could cost American taxpayers a lot of money.
• 
  Q. So is it fair to say that Americans who are neither rich nor reckless are being asked to rescue people who are? What is in this package for responsible homeowners of modest means who might be forced out of their homes, perhaps for reasons beyond their control?
  A. Yes, you could argue that people who cannot tell soybean futures from puts, calls and options are being asked to clean up the costly mess left by Wall Street. To make the bailout palatable to the public, it is being described as far better than inaction, which administration officials and members of Congress say could imperil the retirement savings and other investments of Americans who are anything but rich.”
  

And in a seperate publication, The Nehemiah Corporation stated in their weekly newsletter (which I happen to receive – ironically - weekly:)

• While our government is bailing out Wall Street, DPA and H.R. 6694 is looking
  out for Main Street. The plan being negotiated by the Bush administration
  and Congressional leaders calls for the government to spend up to $700 billion
  to bailout Wall Street. Add in the $300 billion from the "Housing Bill" (H.R
  3221) passed in July and this bailout is costing taxpayers $1 TRILLION! The
  single largest part of this tragedy is that this $1 trillion is being spent
  bailout Wall Street, banks, institutional investors and foreign investors!
  And while all this is going on in Washington, D.C., who's looking out for
  the American Taxpayer? Who's focusing on working class Americans?”
  

Surprise, fucking Surprise.

So let’s see if I have this right. People like me, people who bust their ass and work hard to pay their bills, people who bought homes WITHIN THEIR MEANS; people who ARE NOT A DRAIN on society, get to foot the bill for other people’s lame-assed, retarded, fucked up decisions.

I don’t get any tax breaks. Hell, because I don’t have any kids, I get even LESS tax breaks. And don’t preach to me about the cost of raising a child. YOU, the parent, chose to have that child. Besides that, I am simply stating what benefits I DON'T get because of what I DON’T do.

I understand Wall Street is affected. Hell, I work in mortgages so how can I not? I also know that it means my retirement is affected. Hell, for that matter, I understand that my social security, the money, MY MONEY, that I busted my ass for, will probably not be available to me when I reach retirement age. Yet again, more of my hard earned dollars benefiting someone else. Why not at least give me the courtesy of deciding who it will benefit instead of deciding for me?

Our world just keeps getting more and more fucked up everyday. I wonder how much it costs to live in New Zealand??

POSTNOTE:

I realize this may be a necessary sacrifice, and that should our financial system collapse, should WALL STREET collapse, that Main Street will as well. I just don't have to be happy about the whole thing.

Reference links:

http://finance.yahoo.com/banking-budgeting/article/105824/The-Wall-Street-Bailout-Plan-Explained

http://www.nehemiahcorp.org/

Blink-182's Travis Barker and DJ AM Critically Injured in Plane Crash

So I work about 1/4 of a mile from Doctors Hospital, the hospital with one of the best burn units in the country.

The evil side of me keeps telling me to go over there on my lunch break and snap some pics of Travis Barker and DJ AM. Wondering what I could sell them for.

Doctors Hospital happens to be my HMO assigned hospital, so its not like I wouldn't have reason to be there necessarily.

Damn my good, considerate side from preventing me from doing it! This could be my retirement if I pose as a nurse and get some pictures up close and really personal!

Damn. Even Mandy Moore came to visit.....


Heres the scoop:

Blink-182's Travis Barker and DJ AM Critically Injured in Plane Crash

Barker's assistant Chris Baker, 29 was one of the 4 people who died in the crash.
Saturday, September 20, 2008

SEE THE VIDEO

Travis Barker, a former Drummer for Blink 182, and DJ AM are in critical condition after the plane they were flying on went off the runway and crashed. Four other people aboard the plane were killed.

According to TMZ, Barker is severely burned from the waist down but is expected to survive. DJ AM, whose real name is Adam Michael Goldstein is being treated for burns on his face. The two were transported to a burn center in Augusta, Georgia where they are listed in critical condition.

Barker and Goldstien apparently saved their own lives by jumping out the door of the burning plane. Barker's assistant Chris Baker, 29 was one of the 4 people who died in the crash. He was newly married with a newborn baby.

The other three who did not survive were pilot Sarah Lemmon, co-pilot James Bland and Charles Still.

Barker is famous for his drum work in the Band Blink 182 and his reality show "Meet the Barkers" with on again off again ex-wife and former Miss USA Shanna Moakler.

Goldstien was once engaged to reality star and socialite Nicole Richie.

Barker performed Friday night at an event with Perry Farrell, Gavin DeGraw, and DJ AM.


The FAA said the plane carrying six people was departing when an air traffic controller reported seeing sparks. The plane went off the runway and crashed on a nearby road.

The plane was going to Van Nuys, CA.


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