November 11, 2008
– Comments (13)
Scary and funny and true.
Welcome to the socialist welfare state, brought to you by a Republican administration and 8 years of unrestrained corporate greed.
Amazing, isn't it? And to think, it's for our own good.
Scary and funny and true, as you said.
As the Mogambo Guru says, we're all freaking doomed!
Craig lied about one key aspect of this interview. Craig and the FHFA woman actually agreed to extract the payment from Craig's son and daughter at some indeterminate point in the future. You can now clearly see why Craig gave in so easily to the woman's demands. It wasn't his living standard at stake.
Now, wouldn't it be poetic justice if in, say, 4 to 5 years as Craig enters into retirement, that huge bill he thought he so cleverly passed on to his children came back to bite him in the hindside?
It has been an amazing turn of events. I am still waiting for DC real estate to crash further.
Per the post above, Craig didn't get it entirely wrong. Here's a related post about the cost the kids will bear. See
By the way, it's just another homeowner fantasy that comps increase or decrease their property value. Your house costs what you paid for it until you put it for sale. And then, when you put it for sale, it's simple supply and demand, and last year's comps will be just about as relevant as July's GOOG quotes are relevant to tomorrow's trading.
Dear Baby Boomers and Gen X,
Thanks for nothing.
P.S. Enjoy you Social Security.
x-marks the spot where there is no social security outoffocus.
Ugly, ugly, ugly - the market has to and will correct and tax payers are stuck either way.
What we need is a good hanging of those that profited from this mess. Can't believe I said that, I have been in Texas too long.
when these companies were profitable, the executives put the $ in their pockets. but when they are lossing, they socialize it and gets bailed out.
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