One of my favorite quotes, by Theodore Roosevelt:

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly; who errs and comes short again and again; because there is not effort without error and shortcomings; but who does actually strive to do the deed; who knows the great enthusiasm, the great devotion, who spends himself in a worthy cause, who at the best knows in the end the triumph of high achievement and who at the worst, if he fails, at least he fails while daring greatly. So that his place shall never be with those cold and timid souls who know neither victory nor defeat.” - Theodore Roosevelt in 1910 at the Sorbonne in Paris

Tuesday, October 25, 2011

Housing Bubble.

So President Obama wants to help the housing market. Many people are now upside down on their mortgages and the only solution people want to hear, is that we have to get prices back up. Hello people. Getting things back to the way they were just recreates the problem. The reason these people are upside down on their loans is because they paid more than they should have and got a loan from a corrupt banking system that we just bailed out. For the most part these people were taken advantage of, and we should have bailed them out instead. Now it's too late to go back and fix the bailout fiasco, and we just have to realize that these people are going to have to deal with their loses on their own. But we cannot go back to having the prices back at the levels that they were. That is not a solution, it's just making the same mistake again.

Now we could maybe save these people by dissolving these banks and using the money to get these people back on their feet. What do you think about that? Maybe that would send a clear message to the banks.

Does this matter.
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