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Wrong! Obama's most important job is to restore the "trust" and "confidence" of consumers. It is not a right approach to cure or solve the recent "recession" to bail out the big guys.
Looking at the bottom, those middle or working classes is trying so hard to make a living. Literally they are dying as a rotten wood. How can the branches survive with a sick and dying root? You guys in DC just concern about those big fats; and allow those automakers brag about themselves to claim they are the "Main Street". I agree that there would be a job loss disaster if we let them down. But it is very clear that it is not the way to make things right.
When I listened to the news that there is a huge inventory in Long Beach Port of California, about 5 miles long cars of Toyota and Mercedes, I believe, the most important is to move their 2009 models into their dealer's lot for a good sale. But How can we do that? Good question, an idiot knows the answer.
We can give fish to anybody, including automakers. But the better way is to teach them how to fishing, to give them a decent living and business. Is it the purpose for the existence of a government? Isn't it all the government about: to provide a healthy environment for people and business?
Yesterday, even I said I am sorry to see the stock plunge below 8,000. Since we overlook the right approach to cure the root, but keep ourselves busy in small perspective to give those branches a treat, I do expect its further falling. Now Dow went down for another 440 point to 7,552 today.
I have no further to say, but to have my mercy toward those futrure victims of our politicians if they are busy in the credit "supply" side, and don't realize what they are ignoring the "demand" side of the coin.
Looking at those GWB boys crying to bankers begging for a loose-up lending, it reminds me of some strange things happen recently at my Yahoo or Google (I am not sure it happen to you).
As Paulson said, credit was supposed to have been very tight to a breakdown. That's why we American taxpayer have to accept the blackmail of his "$700bn" urgent plan. I don't know how urgent the situation is. But, I do know people outside the financial sector are suffering too much. Credit crunch is here or everywhere, isn't it?
In the past week, Google and Yahoo are losing its "search" function. I can't easily use it as I used to find my valuables information. In some cases, it seems to me they come up with all irrelevant useless results to a point that I gave up since nothing I can do with my terms. I don't know if their most recent job cuts have something to do with this.
Besides, even I set "block" filter on, there are recently a lot of junk mails get through to my attention. Much more than I used to get. I have no idea if that is incurred by a mill firm sold my email to some more "aggressive marketers."
Well, take it as a good chance to see what the fancy products are offered. Gee! dame it, at where the credit channels are clogged as Paulson said? All the NINJA (no job, no income application) loan are still alive out there, credit is so easy to get as the old days so long as you can breathe. Are those politicians lying?
Don't believe me? Take a good look at the emails I got in 2 days and enclosed here below. Did they tell you they would give you Tens of Thousands dollars loan with no question asked?
NO income check or NO credit score needed for you to get the money as they claimed: "All income and asset information is disclosed by the borrower on the application, however, there is no "verification" performed or required by the lending institutions." It seems like a liar loan promotion since everything is as you "stated."
Some programs even give you a "corporate loan" of half million dollars without PG (personal guarantee)? They claimed, "As with most of our programs this is an unsecured business line of credit, in which no proof of income or personal assets is required to be disclosed for loan approval and funding."
Well, you will say to them you don't own a corporation. Not qualified, period. Don't jump into the conclusion so fast. They are so eager in begging (scamming?) you to write a loan applications so that they don't take a "no" as an answer. They will do anything for you to say: "No problem" at all. They can sell you a well long-established corporation at a price, just adds a fraction to your loan amount.
How can they do that to make you the owner of a long existing company to put money in your pocket? Sounds too good to be true for your success, right? Seems there is nothing impossible by our imagination and the sky is the limit. Great, you are going to be the boss of a company, your America dream comes true. But what kind of corporation you can buy and all the money you can borrow without personal liability? Literally, it is like a no-risk grant from Santa!
As they said: "A seasoned corporation, also called an aged or shelf corporation, is a corporation that has had no activity. It was created and put on the "shelf" to age. This corporation is then later sold to someone who would prefer to have an aged corporation rather than a new one. A business entity that is created through a process other than incorporation (such as a limited liability company) is simply called a seasoned company or corporation." Get the idea? That's an expertise area of today's MBA graduates: everything in PAPER, like home equity.
Creativity is the most important ingredient to a capitalist market system. Can these loans really be done? I have no clue for their claims (for them to say no need for a FICO), Even I did personally see these stuffs really worked; and processed with a top 10 big bank 15 years ago. (NOTE: When I did this operation, I was working for a law office to know banking products and indeed do have a very good connection to a banker. At the time fund is approved, I had no problem to collect additional 10% fee with my banker's help, in addition to my advanced application fee. But I am not smart as they are, since I still need from my client his good FICO score to meet or get around the audit system or underwriting procedures.) However, with all these kinds of MBA new toy invention or bullshit scams, the financial world was moving smoothly in the past until the recent bubble came up.
Is it really a jungle out there in getting credit? There is no transparency in FED bailout at this moment. Is it easy for a bank to get billions of digital money (NOTE: it is no longer in "green paper", it is in "black and white" numbers in the electronic cyberspace) ? I have no idea. All I can say is "a mess create a fantasy that is either a risk or opportunity." But keep in mind: "be careful when you are dreaming."
*** Enclosure ***
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Underground Cash Invitation |
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Say goodbuy to bad conditions |
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| Inman News Headlines |
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No cost debt consultation |
| Financial Services |
Contact Me Please |
No Personal Guarantee Seasoned Corp Program
$150,000.00 in Funding
No Credit Score Requirement
** IMMEDIATE NOTICE **
DOES YOUR COMPANY NEED CA$H TO OPERATE OR GROW?
· $200K within 45 days!
· No Credit Requirements
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Who says no buyer and no sales recently?
Look at this in MOVOTO: "This home is no longer active on the Multiple Listing Service."
How many days it took for the listing off "active"? Less than ONE day in theory!
I have been providing my friends or clients info to find a good buy. I found out this property shall be very interesting to one of them. Immediately after a new listing notice of a website (NOTE: it is my outsourcing and they are free), I provided my study or consulting opinion. I asked my client go to take a look ASAP. My client went there the very morning (11/13) to find a Mexican American agent at the site (not the listing lady agent Marie who is supposed an Asian American) and was told that it was pending "Yesterday." The agent refused to accept his all cash over-priced $290K "back-up" offer (sounds to me like no matter whatever price he might offer).
My client complained that he wouldn't lose his dream home if I could act fast enough. Gee! he doesn't know what a "pocket listing" means in our profession. In the above statement, I said "less than ONE day," did I put one modification "in theory"? If you are a seasoned agent, you know my saying is literally equal to "no listing at all in PRACTICE."
In the past few days, I am too much into Macro-Economic or political observation on the current events. With more than 700 clicks, there is still nobody in AR want to make a comment on my topic. So, I will restrain myself not to talk big. But it is too difficult to ignore the big picture to see the trend for a good opinion.
Yesterday, our stock market had a big swing of 900 points from the lowest point of below 8,000 going all the way up in the final hours to almost 9,000 after GWB's speech. But what that supposes to say if you further factor in yesterday's bond market upswing? Very interesting for both going up at the same time, right?
Also, so surprising enough to hear a lot of "lip service" done by GWB boys after they mess up the world. Before G20 meeting this weekend, GWB has talked a lot about "free enterprise", "market mechanism", and "transparency." Sounds like they are not a politician, but a good intelligent scholar knowing what capitalism is? When I looked backward to the performance Secretary Paulson and Senator Schummer made on last Wednesday to beg the bankers do something in return of their favors done by FED, like more willingness to lend credit out, to help the economy. It is so funny to make me laughing at both of them all day long.
For example, when Senator Schumer, chairman of finance, pointed out, all the bankers are very cautious or reluctant in lending money out (sounds only interested in raking FED money into their vaults only for the expense of their compensation bonuses). He seems know the basic of market. However, I don't blame those bankers' reaction after they are beaten by "the past reckless lending deeds." They learned something on the trial and errors; and we should be happy to see their correction or improvement. It is not strange for them as a capitalist as we are.
Will you lend money out to a person with no profit (positive income) in sight, if you were them? Further, did we just recently ask a banker to have "responsible lending" (sounds familiar, right?) as his ethics? Do you consider it a prudent decision or responsible practice at this time that a banker lends money or renews the old loan to anyone with gloomy sales, negative profit and possible "bankruptcy" in 6 months or near future? With "infinite" resource, FED refused to do that for the Lehman Brothers, would it be too much for us to expect from a private banker with limited financial power?
How could both VIP politicians conversely suggest to adopt a LOOSE lending yesterday? Do they know what they are talking about? Or suggest a banker go out to start a second round of toxic loan? No wonder a lot of comments saying that they don't have a plan to work on, if they do have a brain. Ooh! a banker is not in charity and a politician is in robbery of the taxpayers to do public charity business. Good enough, that well explains the difference between them.
In what GWB said: "more regulation is worse than less regulation," Even I have to agree GWB is philosophically right. Because we are a human, not God or a machine. Take this house sale as example, I will be very surprised that any regulation can do anything about this real estate practice. As an agent, we are always told to build up our "client" base to accumulate as many investors as possible. How could we limit an agent explore or attract his offer from his "insider" group, even long before he formally puts his REO listing into MLS service and let its existence known to outsiders? It would be very difficult, unnatural or against traditional marketing wisdom of capitalism, right? (NOTE: In business, we call it "relationship" to ease the difficulty and keep contact; and we value it so much that we are used to say, "don't burn the bridge.")
Does it meet our professional ethic codes to do "pocket listing"? If it is not morally right, can it be a legal wrongdoing? I have no right or wrong answer if I look at the nature of our human beings and "creativity" needed for the capital market machine. Given the fact that the listing broker made this listing alive only one day, It would be safe for me to say it could be suspicious about the broker's operation. It maybe created not enough transparency, hardly reasonable, for the broker to perform his fiduciary duties toward the seller/ lender HSBC; let alone a decent fairness to the general public as a whole, in this case.
From this case, I am further reaffirming my belief that Paulson and Bair were wrong in handling the real estate bubble enough to create chaos of mess.
(Note: I made a forecast 2 -3 weeks ago that bankers would change their mentality to hold REO properties into pumping them into the market. Now, some banks are releasing their inventory at a very aggressive price and speed, say in less one month. Sorry, I don't want to mention a name of big bankers who do the switch here. But, allow me to say that GWB is right by saying that people expect and need a more efficient government and our bureaucrats have to listen. So far, after 4 months FDIC took over Indymac, I am still wondering what Chairwoman Bair has done to get rid of those Indymac's REO when she bragged about her loan reduction plan to troubled homeowners in front of our Congress. Probably nothing. A bureaucrat is very good in providing his lip service without a decent brain. Remember this house was foreclosed 7 months ago. Who has done what to make bankers keep those properties on the book, not on the market? )
Enclosed my consultation email and other information for your reference:
From: E T <e@yahoo.com>
Subject: 449 B***** WAY, ****** CA 9**** $284,900 REO
To: *****@yahoo.com>
Date: Thursday, November 13, 2008, 7:42 AM
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http://www.realtor.com/***lid=1***024&lsn=6&srcnt=24 http://www.movoto.com/real-estate/homes-for-sale/CA/********.htm 449 B***** Way ****** CA 9**** 3 beds, 2.0 baths, 1,288 sq ftFor Sale: $284,900 This listing is brokered by ***** Realty Co. Office: ***-***-2626 Presented byMarie ***** Office: (***) ***-2626Email Agent Visit Agent's Website Agent's Other Listings
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Investment Summary
This investment summary assumes a 30-year fixed loan, 20% down, 7% APR. It uses operating assumptions of 10% management fees, 9% vacancy allotment, 3% repairs. This investment summary assumes that rents increase each year by 5%. This property would need to be purchased for $241,680in order to generate a break-even cashflow based on prevaliing market rents.
| 1 Year | 2 Year | 3 Year | 4 Year | 5 Year | |
|---|---|---|---|---|---|
| Break-even Purchase Price | $241,680 | ||||
| Rents | $24,000 | $25,464 | $26,978 | $29,571 | $31,358 |
| Cashflow Before Taxes | $-797 | $345 | $1,526 | $3,549 | $4,943 |
| Cash-on-Cash Return | -1.65% | 0.71% | 3.16% | 7.34% | 10.23% |
449 B****** Way
*******, CA 9****
$284,900 ($1,375 per month ) 3 Bed, 2 Bath, 1,288 Sq Ft on 0.24 Acres (10,506 Sq Ft Lot) |
MLS ID #P6****7
Request More Details | | Listing added 3 days ago and refreshed 8 minutes ago
0 Photos - too new for photos  New listing - Photo Coming Soon. Save Listing to be alerted when photos are available. Property Informationfor 449 B******* Way
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Related Property Transactions
We found 4 related property transactions in the last 3 years.
| Transaction Date | Value | Buyer | Seller | Full or Partial | Multiple APN | Arms Length | Document Type | Transaction Type | REO Flag |
|---|---|---|---|---|---|---|---|---|---|
| 2006-03-07 | $535,000 | REYES,BAR***OME M SR | NI***SON,NORMAN | Full | Yes | Grant Deed | Resale | N | |
| 2006-03-07 | n/a | REYES,BAR**OME M SR | REYES,CON***TA L | Partial | No | Grant Deed | Resale | N | |
| 2008-04-25 | $430,000 | FREMONT INVESTMENTS & LOAN | LES Z***E | Full | No | Trustee's Deed Upon Sale | Resale | B | |
| 2008-08-20 | n/a | HSBC BANK TRUST 2006-A（香港匯豐銀行） | FREMONT INVS & LN | Full | No | Grant Deed | Resale | N |
| MLS Name | MLS ID | First Appeared | Listing Price | Last Visibility | Last Status |
|---|---|---|---|---|---|
| SOCALMLS | P6***7 | 2008-11-11 | $284,900 | Visible | Pending |
Republicans vow to rebuild after big defeats
After the election was over, I have observed the historical moment; and read and listen as much as possible to find the forces in it.
The thread is very helpful to express "hope" and "angry." Sorry to say, most of them are emotional. They forgot or missed the core consideration of the topic, mainly to "rebuild": What the next constructive step or steps to take for GOP to get up?
Historically, the longest "honeymoon" is only 6 month long. So many elites pointed out two approaches for Obama, mainly focused on a broader and aggressive macroeconomic FDR-style program (socialist way, if you wish to call it) or one-at-a-time daily gradual problem-solving. It seems no third way out for those intellectuals. Incredible for my small brain to imagine. Yes, there is a third way.
I am sick and tired of reports or media saying that consumers "cut back." How come today's report of Walmart sales surged 15%? A poor can't cut back his spending even he has no money at all (sorry to say, he will go rob or steal if that's the case.) The last thing he wants is to be short of the stuffs to survive, or to starve himself to death. Why the general retail sales are dim? Simply, there is a fact that people has no money (those with some are prudent and scared to spent cash. They do the opposite: trying to preserve it). They are not in a position as a "ready, willing and capable" buyer in our professional terms.
Dame it! Don't try be so "smart" as the Banker Paulson to tell me the market is alive or rescued and all we need is just give sometime for the CEO George Bush to cook it. It should be a dead meat as a Zombie in which no deal made, no decent loan given out and no commission paycheck paid for your jobs (i.e. you are going to get in line and employed), I believe.
If Obama is ready and willing to solve the "recession", please don't try to play cute by your academic knowledge and complicated arrogance. Just go look at the bottom or basics, you will be amazed at how simple it is to cure, based on my "town hall" meeting experience of the last Saturday before the election, October 31.
(NOTE: I was invited by my neighbors Miranda and Shawn to their dinner party; and I turn it into a political forum to ask if McCain could do my AIP. The result: McCain was elected as President and "TWICE" shouted out by one of them. Sorry, I didn't mentioned it in my blog; and now I don't provide the details on their doubts, arguments, my answers; and how I connected it to the minds and their daily life experience of those ordinary young people in their 30s who I'd never met.)
It seems to me nobody talks here seriously about what precise programs GOP should take to restore its confidence from average Joe.
I believe the huge vote turnout says something very basic and vital that all politicians have to listen, particularly the GOP leaders. In a Democratic society like ours, the turnout usually is low, unless something bothered people so broadly enough to a point that they lost or disturbed their peace of minds. Look back, history told us that our people was not so crazy about voting except a crisis emerged as we were in 1908, 1960, 1968 recently. Asbestos is safe, stable and silent until it was disturbed to release its huge harmful elements.
There are so many concerns. I'd like to mention two here:
1. What dramatically changed it NOW? A urgency is here, right?
2. Why John McCain lost the election, judging by a poll fact that he was a front runner two months ago, particularly immediately after Gov. Palin delivered her acceptance speech at GOP convention? What caused the switch of voters' mind?
The situation left me an impression that anyone can defeat GOP no matter who represents DEM (sorry to Obama.) The core force that bring down GOP is social anxiety or economic angry toward GOP.
When we changed or destroyed the root of Capitalist Market function, how can we get a good result by using those so-called "free market" tools Paulson claimed (in fact, they are not)? In my mind, I have always had a question: Is it so difficult for GOP in power to solve the recent "recession fear", if not go bow to the neo-mercantilism the wall street upheld?
I am just wondering whether McCain would lose if GOP could stay in the right track of Adam Smith.
PS: I am a conservative capitalist and individualist so that, for now, I am self-restrained myself to say anything on the inflated "HOPE" our people has. I don't even want to say something like some columnists who said "it is just my hope, not my expectation." I believe our America is a great country so that let us be patient for what comes next in a very short time, say 3-6 month, to see if we can overcome and reach the goals as Obaman claimed the night he declared victory.
PPS: No surprise to me for the stock plunges immediately after election. I may post 2 drafts I stored in AR and release them to pinpoint the nature course of stock give-up.
World hopes for a 'less arrogant America'
Catwing 13 hours ago
Naaa to change, I had enough tonight. Like above "the electoral vote goes to the winner of the popular vote anyways, so, in essence, we are already getting a popular vote president ..."
No real need.
*** ET's Comment ***
To Catwing,
Let's do the maths.
Let's further stop the clock and look at the point of time when McCain won 40 electoral votes.
Now, use your imagination. How Obama got the 165 votes at the time being?
In theory, we know the fact that it is a "zero sum" game. The winner takes all the votes; the loser gets none. To the extreme, even he just has one more vote, say, McCain has a popular votes of 400,000, but Obama gets 400,001. Who gets all the electoral votes of 7 in that state? Here, 1 popular vote equals 7 electoral votes, am I right?
Further, all the states contribute 165 votes to Obama have in fact less popular votes since McCain won 50% of those votes at the time. Hypothetically, let's assume Obama only gets those votes by a situation that he wins just one more voter in those states while McCain gets more than 400,000 votes in other 3-4 states to have his 40 electoral votes. In other words, less than 10 popular votes would have been weighted more valuable than 400,000 votes in other states.
Further, assume the situation is reversed. McCain was able to manage to spread his votes into where he was defeated, just enought to have one more vote in those Obama's territories. What could happen? He would get all the 165 electoral votes, right?
Let's just assume 120 votes were so switched to McCain's side. The difference would be 240 electoral votes (120 "Obama's loss" + 120 "McCain's gains") . It would be impossible for Obama to win. Now you tell me is it fair, reasonable or calculatable? Seems to me it is a gamble casino as all of us is up to the state of Florida to decide who the winner is and our fate in 2000. Bush won, we have the past 8 years of "luck."
Don't you think we deserve a better treatment? Common, dame it, please wake up to realize the electoral college is just a useless stamp to distort the whole picture and further input the uncertainty of the game.
Well, we are in a society which prefers "diversification" of everything to "simple is beauty." More complexity creates uneasy in our minds and makes more income possible to legal profession, since we are some sort of a slave whose brain is used to the tenet "talk to a lawyer before you make any decision."
Compared to other societies, no wonder American legal profession loves to make everything so vague and complex to make our society "lawsuit prone." No way to ask our politician (most of them are legal professionals) to adopt just one basic, classic "British principle" to dramatically reduce the burden of our courts and simplify our life.
As Ronald Reagon forgot, I don't remember anything. Did I work there in that little white cloudy house? Are you sure that was ME up there? How come I am down here? That's definitely not me!
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