I love the first video. That guy breaks down the complex into the essential elements and then explains them in layman's terms. I never trust anyone who thinks their job/theory/investment/etc. is too complex to explain to someone of average intelligence. It more than likely means they do not understand it themselves, or it is bad idea or ripoff, or they are just a con-artist.
It is a public service that people like Jonathan Jarvis are doing by educating people and sharing their knowledge. And of course, Golfer is doing much the same in his own way, thanks!
Well - I can tell you - I am not happy about bailing any body out...I myself was in a bad mortgage 4 years ago and got the hell out and have been renting ever since.
It was terrbile having to uproot my kids from their best friends next door and from our home that we loved so much. Yet - I knew that I could not keep going around the refinancing game that I got caught up in, so I sold my home and jumped ship. It has been hard and it has SUCKED to be a renter, especially when the guy we were renting from didn't pay HIS own mortgage...but when we sold our home - we knew that we did not want to take on any more colateral damage...these people that thought they deserved a $600k home with no money down and with stated income were not just dumb - they felt that they DESERVED that $600k home (that was really only worth about 40% of that)....and now I have to pay for that.....somethings wrong with this picture.
4 comments:
I love the first video. That guy breaks down the complex into the essential elements and then explains them in layman's terms. I never trust anyone who thinks their job/theory/investment/etc. is too complex to explain to someone of average intelligence. It more than likely means they do not understand it themselves, or it is bad idea or ripoff, or they are just a con-artist.
It is a public service that people like Jonathan Jarvis are doing by educating people and sharing their knowledge. And of course, Golfer is doing much the same in his own way, thanks!
Well - I can tell you - I am not happy about bailing any body out...I myself was in a bad mortgage 4 years ago and got the hell out and have been renting ever since.
It was terrbile having to uproot my kids from their best friends next door and from our home that we loved so much. Yet - I knew that I could not keep going around the refinancing game that I got caught up in, so I sold my home and jumped ship. It has been hard and it has SUCKED to be a renter, especially when the guy we were renting from didn't pay HIS own mortgage...but when we sold our home - we knew that we did not want to take on any more colateral damage...these people that thought they deserved a $600k home with no money down and with stated income were not just dumb - they felt that they DESERVED that $600k home (that was really only worth about 40% of that)....and now I have to pay for that.....somethings wrong with this picture.
x,
Thank you so much for posting that video of Rick Santelli.
I think he represents America!
And he represents me. I have family who pay their mortgages and its just not fair to them or to me as a renter.
I heard about it last week on Rush Limbaugh's show and was surprised how the Press Secretary said besides these two, no one else is mad.
Unfortunately, the Obama admin. seems out of touch with America, only a few weeks into office.
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