· When there’s a rain delay at the New York Mets new ballpark, Citi Field, will the announcers on TV be allowed to say that the groundskeepers are “putting the TARP on the field”? Hell, the TARP is not just covering the field, it’s paying for it.
· Why is it that the only people who aren’t smart enough to shop at Costco and Trader Joe’s are the people who need it the most?
· Speaking of the economy, why do those who can afford it the least spend the most on energy drinks, fancy coffee drinks, smoking, fast food, boozing, and dropping babies on the world?
· When CNBC’s Rick Santelli called people who defaulted on their mortgages “losers”, sorry Jon Stewart, he was right. His only mistake was not also biting the hand that feeds CNBC: cheerleading corporate bigwigs and the CNBC toadies who interviewed them and accepted virtually everything they said unchallenged. Turns out many of them were ignorant losers as well. Why is it so politically incorrect to tell the truth…that both average yahoos and conglomerates who borrow more money than they can ever hope to pay back to overpay for overvalued assets such as lousy tract homes and convoluted derivatives are immoral, irrational ignoramuses?
· Why does Showtime say that “Some HD programs are not available in Spanish”? Is that because they believe that Latinos can’t afford flat screens? Is that also why Univision isn’t in HD?
· If Salma Hayek were an illegal alien, would Lou Dobbs turn her in?
· Has anyone noticed how much the story of Lou Dobbs’s transformation from old-school financial reporter to shrieking maniac parallels the story of Howard Beale in the 1976 movie Network?
· What am I missing about NBC's Late Night host Jimmy Fallon? Don’t get me wrong, Jimmy is a genuinely nice guy. I am the first one to give anyone credit for getting great ratings, and he is getting them for sure. He deserves all the credit in the world for his early success. Yet here is a late night host with no edge...just that nervous flop sweat look, and comedy material as harmless and lame as any I have ever seen. If you like train wrecks as much as I do, look for the video of his interview with Robert DeNiro. Skincrawlingly awful. Why are so many people watching this show?
· The biggest talent TV news anchor Paul Moyer of KNBC/Los Angeles ever had was looking and sounding something like the more famous Tom Snyder when Snyder was on Channel 7 doing Eyewitless News back in the day. Does anyone believe Paul Moyer is “retiring” without a gun to his head? He makes over $3 million a year, his newscasts’ ratings stink, and this economy is so lousy that Channel 4 has taken to running infomercials during weekdays. I know that as a society, we are pretty damned dumb, but we’re not THAT dumb.
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The old adage is true, “the devil you know is better than the one you don’t.” For people who are genuinely losing their jobs and have lost everything I feel for and am willing to give them some leeway for a while, especially to those who were baited into purchases that didn’t make sense by unscrupulous loan officers and real estate agents.
ReplyDeleteI believe the real pariahs are the people who for nothing has changed except for the perception of the value of their homes or other assets. These are the people who have not experienced job losses and who perhaps are still prospering in spite of everyone else’s bad luck. In fact, in some cases that I’ve heard, these people are making more money and are better off than they were when they signed up for their mortgages. They have the ability to pay but have or are seriously considering letting their homes go into foreclosure because their homes are no longer worth what they paid for them. Some in an effort to renegotiate terms, are even purposely letting payments go to get the attention of the banks.
I see the logic behind trying to reduce your mortgage and trying to go for a better deal, but what are we really doing here? What would previous generations of Americans think of us if they could see the kind of stuff people are trying to pull off today? I imagine the conversation going something like this, “So you’re telling me that you agreed to borrow x-amount of money, which the bank actually paid, and now that your home is not worth it anymore, you don’t think you should have to pay it all back?” That’s to me is the equivalent to buying a car, driving it for 3 years and then deciding not to pay for it anymore because it’s an old car. I think we really need to take a hard look at ourselves and reexamine what we’re doing.
Fallon succeeds because people like him and because he has pretty obvious charisma. That can only last so long, however. We'll see what his ratings look like a year from now. His show will either get better, or the people will stop watching it. Likability only lasts so long on TV. Ask Katie Couric.
ReplyDeleteGawd we need you on the radio NOW. Isn't there some TARP money avail?
ReplyDeletewhat we need is for Leykis to get his own late nite tv show. it wont be on the vagina network (abc) so I say FOX. all the best tom.
ReplyDeleteDrewski....
ReplyDeleteNot that I disagree with your major point, what goes up, shall come down, and the same is true in reverse. Not paying because one is short sighted is stupid. I do have an issue with your use of the phrase:” Unscrupulous Realtors" Let us dissect that for a moment. A home is the single largest purchase most Americans ever make. Ever try to sell someone the largest purchase they ever make? It isn't a sale; it is a service, finding a property that meets a buyer’s needs and price and guiding them through the process of buying it.
The federal & state governments regulate Realtors to protect the public. In all but 6 states, buyers must have an attorney because; Realtors are not able to write contracts. The other 6 states have fill in the blank contracts which are loaded with disclosures, and contingencies to protect the buyer. Usually the buyer has a contingency for financing allowing them to back-out without penalty if their loan goes bad for at least 30 days, they have inspection periods where a buyer can back out for any reason, the inspections are done by professional licensed inspectors, title reports, 2 types of title insurance, in addition informational hand outs are required by law to be given to all buyers; which contain the definition of specific real estate terms used during the purchase in the contract and other documents, and guiding the buyer to web sites to study and get questions answered on everything any buyer might need to know.
Realtors are held to the state ethical guidelines (laws) city, state, and national association ethical codes, and must have continuing education in order to keep a current license. Without cost a Realtor’s license can be challenged by anyone, even frivolous complaints, found to be false, become part of an agent’s permanent record. If the complaint, after serious investigation is true the agent can loose their livelihood or be fined hundreds of thousands of dollars. Any law an agent breaks, higher than a misdemeanor, must be self disclosed to the state within ten days for review, or they will loose their license. If the law broken has anything to do with character they loose their license. Realtors who lie or cheat not only are subject to loosing their license but can, and do, end up in jail. Every applicant for a Real Estate License has their back round researched and is fingerprinted.
There comes a time when people have to take responsibility for their actions. What is going on now is a slow, churning economic crunch brought on by 8 years of Clinton invented loans, and the damage of 911, a war on terror, and the costs of securing the country. It is easy to blame a group of faceless professionals. Calling Realtors unscrupulous is just an uninformed labeling that just does not fit reality. Dishonest people find it next to impossible to become licensed and impossible to be licensed for long. Have any specific facts I’ll listen! TOM would say ,put 20 percent down, get an attorney, read and understand all documents before signing them, and don’t be stupid, live beneath your income level and save, save, save! Even being this careful today your home will be worth less than you paid IF you purchased in the past 7 years. Historically, housing values, like a cat, land on their feet. Pay your mortgage and live in the residence, the value will recover, that is after all the main reason for purchasing a home!