March 08, 2008

HousingPANIC Quote of the Day

"America’s borrowers are not children, and Mommy and Daddy Government shouldn’t be paying the candy store back for the Snickers bars so many borrowers snatched, never really intending to pay for.

Let the market correct. Let home prices fall back to a level where good hard-working people can afford nice comfortable places to live. No pain, no gain."

- CNBC Reporter Diana Olick, March 2008

15 comments:

jazzmanferg said...

Quoted from article:
"You know, I bought a really expensive suit last summer that doesn’t fit me right anymore. Perhaps Mr. Bernanke can call Saks and have them refund my money because I ate too many Cheetos last fall!"

It is a conspiracy Diana. Someone shrunk your suit. You're still sexy.

Anonymous said...

Amen.

Anonymous said...

I'd tap it.

Anonymous said...

Americans want a Mommy and Daddy government to take care of them. It worked so well in the USSR

Anonymous said...

I'd agree except for one fact...the greedy subprime lenders sucked in the innocent but well meaning wannabe homeowner. It's the usual sucker bait of promising pie in the sky to the unwary. A chicken in every pot and a car in every garage...but you have to own the home first.

Max said...

Diana Olick for President!

Anonymous said...

This women should replace Helicopter Ben as Fed Chief. he at least has a grasp of Economics 101.

Holyschlitz said...

Diana, I love you.....

Anonymous said...

AL-QWAFFER where are you?

k.w. - southern ca. said...

Diana Olick has it spot on.

It's the hard-working citizens of this country ... many of whose jobs were shipped overseas ... who are impacted most by this housing crisis.

Housing prices across this country have a long, long drop to go to get even close to making sense for most wage earners to be able to afford a mortgage again.

Federal, State and (fellow) County workers better get a clue also, because our wages will also be impacted negatively - it's just a matter of "when" and not "if" this will happen.

Anonymous said...

Amen! Diana!

The sad thing is that the homeowner bailout is just a nasty side-effect of the MBS investor bailout.

Here in Sacto, people are still trying to get over $400K for 1500 sq. ft. New housing developments are still trying to put up the facade that their homes are moving fast!

When oh when will it end???????

BondsOfSteel said...

Diana Olick is fantastic.

Did you see how she reacted to Maria Bartiro's 'Forget the Moral Hazard' we need a bailout now rant? Plus, she totallly held her own with both Steve Liesman and Rick Santelli... two pretty sharp tacks.

Anonymous said...

WOW!!! THAT SHOULD QUOTE OF 2008

Anonymous said...


the greedy subprime lenders sucked in the innocent but well meaning wannabe homeowner.


What did they lose when it was the zero down loan? We all know 99% of these "homeowners" didn't put a penny down. The only suckers are the people who bought the packaged manure from Wall Street.

Anonymous said...

I bought some stocks I thought I could turn around and sell 6 months later for more. Didn't happen, can I get a bailout!!?