Tuesday, October 7, 2008

Opportunist at Work

I do my best to educate myself on issues that matter most to me. I discuss these issues with my family, my friends, and my coworkers. I bite my tongue in line at the grocery store. I vote therefore I have the right to bitch. However, I struggle posting my personal views and "issues" here as this blog was intended to be a resource for my clients and other consumers looking for information. When bill 965 was on the table I used my blog to "lobby" against it as had the bill passed it would have affected my livelihood and consumers alike. Since this bailout package was introduced it has become a hot-button for me and I let my emotions get involved with my work. In the past it has bitten me in the ass, it might very well do so again, but I don't care. Why? Because I am a real person. I don't always tell people what they want to hear. I feel that doing so compromises my principals. I may not agree with the bailout being passed but I question the consequences if not. I do not like being fleeced. I do not like how we got here. I do not like the finger pointing and back pedaling. The more the bailout was talked about and the more I read the more it started to stink. Obviously IMO the bailout is a turd. However, I will keep doing my job in spite and because of it. I will look to the current market to afford a lower rates for my clients who need to afford their mortgage payment. I will become an opportunist. I hate the thought, but I love my job. I love helping people...
I love you. You Know?!


*Contains Adult Language

2 comments:

  1. I appreciate your honesty and sincerity. Question for you: What about the bailout are you most frustrated with? The term bailout has stuck but I feel it is misinterpretation. The common perception of bailout is not likely "Bailing out an impending stagflation by infusing liquidity and near mandatory lending by Treasury Paulson." People hear bailout and think "Hand out".

    Cash hoarding was the major contributing factor to the severity of the depression. You are experiencing first hand lenders unwilling to lend to even the best of your customers. That is a form of hoarding. Recently banks stopped even lending to each other (LIBOR)!

    I will admit, watching politics closely for the first time and discovering how preposterous the shenanigans are has been enlightening.

    However, the bailout doesn't look like a free lunch, or have I missed a major point? Seems to me using terms like bailout when "Liquidity Guarantee" would be more appropriate.

    Best wishes! James

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  2. James, thanks for your input.

    I have noticed the verbage has switched from bailout to rescue where media is concerned. It's all about the spin... Hope floats too!

    What I get irritated about is that my kids will inherit this turd in means of a deficit while execs go on a retreat. I wouldn't call banks making better lending decisions hoarding. There was a lot of bedazzled paper being sold before, it's just time to be holding better portfolios. PIMCO bought it and is bragging about it hoping you buy it too :)

    I like that "Liquidity Guarantee" but it sounds like "I borrowed too much lets take out a second or refinance to consolidate." Works the first time as long as you learn from your mistakes.

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