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foggy

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Posts posted by foggy

  1. So much of this was caused by greed ... the banks did not know when to say "no". The secondary markets for the mortgages got greedy for subprime mortgages. What made any of these financial wizards think the boom would go on indefinitely? A house built out of credit is a house of nothing.

    The sad part about the subprime mortgage fiasco is less than 10% of all mortgages are in default. There are over 50 million home mortgages in the U.S. But the financial institutions bundled all the subprimes with the other mortgages and sold them mixed together. Now there is no way to unravel the bundled mess.

    Home prices jumped so high that many people, to afford a house, are faced with horrific commutes. Now they cannot afford the fuel to go to work due to the spikes in fuel prices. How many areas in the U.S. have mass transit into the suburbs? Not many when looking at the total U.S. geographic picture. We threw out mass transit and became car dependent.

    In my mind corporations and state, local and federal governments are allowed to control too many things. We the People need to go out and vote and hold ourself along with the others accountable.

    That's my lengthy 2 cents.

  2. Hi. I'm Shelley from the Central California Garrison. I am still new to the 501st with a complete TK. I have all of the parts for TD and TX and hope to start both as soon as I start & complete modifications to a MR CE bucket. My ultimate goal is to become a member of MEPD - time frame about 18 months from now.

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