My comment was intended to be sarcasm for Obama’s campaign line. Hence, “change” is in quotes.

Not at the cost of our liberties, freedoms, rights, and social moralities we hold dear.

Not at the cost of the Constitution and Bill of Rights I swore to protect and was willing to give my life for.

Not at the cost of Oppression.

And certainly not the types of “change” the likes of Obama, Biden, Pelosi, Frank, & the numerous others would inflict on us.

Re: “So please explain to this Independent Johnny and the rest of the fly-by socialist posters here, why the hell I should put their poeple in power.”

You want “change”, don’t you?

You see, not all of us home buyers were living beyond their means when we first purchased our homes. There are several aspects that have been wholly ignored that also contributed to the problem; Greedy local government officials, the Federal reserve playing with the interest rates, and several cost of living increases.

When I purchased my Virginia home in January 2000, my monthly payment was $714, gasoline was $1.31 a gallon, property taxes were around $400. Over the next five years, when the housing bubble topped out, interest rates raised my House payment by $200/month, Gas went to $2.19, all utility bills had hidden tax increases and jumped up by $40-100 (depending on the season), local property taxes nearly doubled & food prices have gone up %50. Yet income only went up 3% each year (15%). This was a heavy strain on everyone’s home budgets. That’s why the housing bubble burst in 2005. Since then Local government officials ignored the housing bubble burst and keep raising property appraisals on our homes so they could keep increasing taxes, Early 2007 gas prices increased another $1, then another $1 this summer. Throwing our corn away on Ethanol production to keep the environmentalists happy is kicking up food prices again, and it’s been a never-ending nightmare. As a retiree now on a fixed income it’s hell just keeping my head above water and I’m frugal as hell. Most people loosing their houses now are not those that made bad decision, it’s us regular folks that have been unable to maintain anything close to the same lifestyle we had in 2000. Now consider all of these factors mentioned above and ask yourself, “What is missing?”

What’s missing is who the Dems blame for all this; Bush. We’ve all clearing pointed out in these threads that it is the Democrats in Congress that messed up Fannie Mae & Freddy Mac. It’s the Democrats that are trying to force ethanol down our throats. The Democrats who have blocked drilling for more oil and natural gas for the last 40+ years. The Democrats who have tried to block construction of refineries and nuclear powerplants. And who has taken over government control in Virginia and been creating and increasing every local tax they can find? Democrats. Who has been limiting military base pay to only 3% per year when the cost of living has been going up by 5%? Democrats. So please explain to this Independent Johnny and the rest of the fly-by socialist posters here, why the hell I should put their poeple in power.

Shouldn’t that be 1995?

You left how how the bundling of these subprime loans infected the market. This is what really feed the mortgage companies with their “easy money” and spread the risk to the rest of the market.

As far I can tell no one was ever forced to purchase a bundle package of risky subprime loans.

No, Fit… I did not leave it out. The selling of high risk loans on the secondary is obvious, since few if any banks keep the notes. It’s a standard practice to free up their assets to loan again.

However you are under the assumption they package all high risk loans together and find some dupe. Not the way it works. The subprime and prime are generally packaged together to spread the risk. You’re buying a trunk load of promissory notes. When you buy lots of these trunks, there will be the high risk loans in all. It’s not like one trunk is all losers.

When you have several trunks and an “x” percentage of bad notes, it doesn’t matter how they arrived in your portfolio.