September 18, 2007
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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35 comments:
I knew this was happening, but
before this, it was a bit abstract.
And the 'resident foreclosures'
are an even bigger story.
The uberclasses have stuck it to
the mainstream again, and I'm
fed up. Time for talk is past.
I believe this guy, but my battles
are elsewhere, and have drained me.
If you can, error on the side of
trust, and send five or ten bucks.
He's not the only one, but at least
he's a bit traceable, and he's a 'brother'.
But this kind of appeal can't be common.
Pressure the lender underwriters, and the
rating services. Join forces on Net sites.
A million in common cause can change
things. We need to fight in the campaigns
and the votes, while we raise hell.
Get the Republicans out !
We are American citizens, not residents
of America. If the nation is not there when\
the nation messes up, then what are we worth ?
Usama correctly criticizes our system.
We need to honor those who were maimed
and killed for a free system, and we ain't free !
The world's an open book for this chap - maybe med school, perhaps he has an interest in chemical engineering. Any number of challenging careers are beckoning to a guy with his background. I mean, heck, he knows what underwriter's do. First, though he needs to get that wife and kids to work.
Nothing wrong in feeling sorry as long as it does not hurt my pockets.
Moral support by all means but sorry no bailout for man made disasters.
Wow. Imagine that video desperation multiplied by millions in real estate and construction.
USA is going to be hit very hard and we will take down the world as the the world has been structured to suck us dry. I think we may have gone from wet to merely moist... Dry is two years from now.
Good luck.
Should we feel sorry for panicked mortgage brokers?
**********************************
Not no, but God no.
They are going into other industries (mine) and still making excuses and parroting their much dated housing false dogma. Even after loosing their jobs! Hideous!
It has been really fun to show them HP on breaks at work, heh heh. I am chuckling now remembering toying with them and putting their eyes (their brains go into tilt) on HP!
Really fun to play with the clueless schmucks.
Especially with threads like this one.
C'mon Keith,
Tear into it. This guy is your poster boy. He even said he has to eat "Roman" noodles now.
Hahaha!
edd said: "Usama correctly criticizes our system.
We need to honor those who were maimed
and killed for a free system, and we ain't free !"
After 20 years of O-sama, why all of the sudden have people switched to U-sama. U.S. Media seems to have switched over the last month?
Whats with that?
Stop crying, take some of that big money you stashed, go back to school if you ever went, change your major to economics, then rethink the path you embarked on, its not to late to just push your chair away from the table because you've eaten way too much!!! but in reality I know that they did not really think that this could continue up...or did they?
If he's been in a mortgage role for 10 years, he should have known to SAVE some money during the boom time. My brother is in the same boat, but pride comes before a fall. he was making $30k per month for about 4 months and believed the hype, and bought an $800k house. Now he hasn't made a dime in over a year and going to lose the house. He used to make fun of me because even though I make a lot of money, I had to "go to work" everyday, while he played golf every day and his $50k a year processor did all his work for him. I don't feel sorry for any of them. If I made $30K per month, I would have set aside a little for the cycles. Not to mention if this guy in the video has got a Financial background, why not finish college or get an MBA with all the money they (mortgage brokers) were making so they could transition in to a real financial/banking job. I think mortgage brokers are one step above bank tellers. Me on the other hand have lived below my means and will continue to have a nice life style. My brother says he has had to give up shopping/consuming, going to exotic vacation 4x per year and he's suffering now, but it's not a question of income but how you spend it. He managed to burn thru all that money in 1 year.
Edd - WTF are you talking about? Hold on let me get Air America on - oh yeah; now I feel better...mmm...that's it.
No
No way in hell! What the hell does a mortgage broker do anyway? What value do they add to a home purchase and/or process? Maybe they should have policed themselves kind of like the various state medical boards and/or bar associations that strictly self regulate their people- absent that, I think they need government regulation.
Once prices are affordable, business will pickup. Its like a pizza shop owner that charges $14.75 for a slice and a 16oz. coke complaining that he has no business.
NO, they are nothing but another useless parasite on the transaction & along with faux "here to protect your interests" appraisers, home inspectors and agents they need to go, PERIOD!
This is the nature of the market, eliminating inefficiencies, all gatekeepers that serve no purpose but to increase transaction costs and do nothing to decrease risk (in the last 5 years all they have done is elevate risk) are eventually eliminated by market/technology forces.
Between the internet and the market they are all extinct dinosaurs walking.
C'mawn,
help a brutha out.......
RE: Should we feel sorry for panicked mortgage brokers:
Mortgage brokers are parasites and home "buyers" are their hosts.
A simple biological rule is that a successful parasite NEVER destroys its host.
The mortgage broker parasites have now destroyed their hosts.
We should feel sorry only for the victims of predatory, scumbag mortgage brokers.
Let the mortgage brokers burn in hell.
V.L.
Did anybody feel sorry for the stock 'day traders' in 2001?
Get the Republicans out !
-------------------------------
Uh, we did last election, not that it matters much. Need to get the dems out too.
Man, f*ck you. Your industry sucks. You rode the high life when it was there, and now that it's in the sh*tter you want a helping hand. Boo hoo, time to practice the phrase, "Would you like to Biggie size that?".
JAG said...
Edd - WTF are you talking about? Hold on let me get Air America on - oh yeah; now I feel better...mmm...that's it.
September 18, 2007 2:56 PM
Air America. That thing still around?
Don't lump the ethical mortgage broker who refused to play tricks with peoples's lives with the ones who did.
I know of one (my Mom) who after being laid off from her job after 27 years being in her late 50's was forced to start again.
She learned the broker business quickly and her desire to help people over a quick buck kept her customer's loyalty.
Last year she finally saved enough to get her own license and set up an office.It has been downhill from there. At 61 and in bad health is looking at starting over again.
I have my own financial problems and wish I could help her enough that she didn't have to work. She never screwed anyone over... to the point of losing loans to unscrupulous brokers.
So yeah,some brokers you can feel sorry for.
You'd think this guys was a non-profit talking about how much he has "helped" people.
Too bad. Learn a new skill.
"Send me some money."
"Help a brother out."
"I want shrimp fried rice."
My thing is that he only wants to do what he has been doing.
I guess with that thinking we should be sending money to people who want to make covered wagons. GET OVER IT! Your profession is a joke! It's over! ABANDON SHIP!
Stop making YouTube videos and get your a$$ out there and get a real job.
Is that the new version of the Nigerian Letter?
Wow, he needs money to eat "egg rolls" and "stirred fried rice". Priorities, priorities...
Hmmm, in the remote event that his story is true, why doesn't he try applying for a job in any other field?
One more thing, how do we know that he wasn't screwing customers like 99.999% of the mortgage brokers in America? Numbers don't lie.
Just an idea to earn some money to buy egg rolls: Have you tried to sell all those "playah" Sean John sweaters and caps on ebay, worth thousand of dollars?
Also, you may get some money by selling all those "Fity Cent" Cds.
Oh BTW, the rappers of America thank you for sponsoring all their $2,000 bottles of Cristal at the clubs, 10 sport cars in the garage, and $50,000 Rolex watches. They wish you can get another job soon to keep "in tha game", brother.
The brother got a point. I heard that the new PDiddy brand of Chinese food, "Egg Rolls Royce" are delicious.
Mo money mo money!
I couldn't care less for unnecessary middlemen who create asymmetrical information only to screw the customer.
No need for middlemen collecting fees to push paper such as car salesmen, Realtors, brokers, pervert and corrupt GOP members, etc.
Go to prosper.com they'll help a brother out
Is it my impression or that noise in the background during the video sounds like the repo man carrying the furniture away?
Sad.
"Numbers don't lie"
They certainly don't. In spite of the fact that we're in a global meltdown (of mortgage broker's making) I'll be damned if I can find ONE MB that wrote anything OTHER than 99.9% conforming loans!
What a farce. It just goes to show how un-regulated this whole industry was/is? Wouldn't you think the MBA (Mort. Bkr's Assoc.) might have something to say about one of their members pan-handling on the internet? Guess not.
DinOR
ill have some sympathy for this clown if he joins the military and gets his ass killed or maimed, but even then not that much
f*ck you and the soldiers in iraq, no sympathy for the sh*t you have done to yourself.
We have the video but where is his youtube account? I see this guy says he's a friend. We have a video and a link to send money to but where is his user account to verify he is legit? Did I miss this?
I am persuaded.
There was a layer in the mortgage
biz that was not essential.
(maybe a bit like the builders
that are no longer needed.)
Now as jobs disappear, short-term survival in one's own home might not be realistic.
Urgent effective retraining is
desperately needed for the entire
nation; maybe using learning-on-demand systems. (demand them)
re: Usama ...
FBI & CIA, use either Usama bin
Laden or Usama bin Ladin.
But it all means a pious monster
who knows the 'realest' reality.
Waaaaa Waaaaaa. Help me out. WAAAAAAAAAA. I haven't closed a loan in 90 days waaaaaaaaaa. I need the "gubmint" to bail me out. Waaaaaa.
What a crybaby. I have as much respect for guys like this as I do for realtors. None.
He actually said that he's living on "ramen noodles and peanut butter 'n jelly".
Ramen noodles. Right Keith?
A general question is that should all small business owners be guaranteed that business goes well? Should the downside of risk be eliminated, so that deciding whether or not to take a risk will be much easier?
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