Where is the moral indignity? Both presidential candidates are soaked in lobby money, one with a quasi Marxist agenda, the other with quasi free market agenda and both sleepwalking through a financial dilemma that attacks every property taxpayer and American.
Selling houses to people who could not afford those home let alone the property taxes was begun by legislation passed by President Jimmy Carter. His legislation encouraged home ownership to people who were high financial risks by making it easy for them to get loans.
With the Clintons in the White House, the problem skyrocketed. They passed legislation punishing the mortgage companies if they did not lend to non-deserving borrowers. They put laws with penalties in them thus encouraging easy credit with eyes shut to risk. Sound lending practices were completely abandoned.
Fannie Mae and Freddy Mac bought these loans, repackaged these loans and sold them on the open market. They sent hundreds of millions of dollars by their lobbies to politicians that in order to continue this masquerade.
To insure these bad mortgages, AIG and other insurance companies evaluated the risk and sold insurance to cover these mortgages in case of default. Their leverage was set at a 12 to 1 ratio. They too threw millions of dollars into legislator's coffers and asked for and got the permission to raise their leverage to a 30 to 1 ratio. This greatly increased their risk as well as spectacurlary increased their short term profits.
How can fraudulent financial wizardry that has banks and brokerage firms leveraged at 30-1 be endorsed by Greenspan and Bernanke? How could they have allowed this shell game to continue? Quasi-Marxist promoters of Acorn (Association of Community Organizations for Reform Now) and related entitlement steering organizations bamboozled lawmakers into giving away valuable jewels to those who eventually couldn't pay the freight. What's wrong with renting if you can't afford a house or taking a bus if you can't afford keeping a car?
The House Finance Chief, SEC Chairman, Banking Committee Chairman and any Congressman or public official accepting lobby money were shills for this con game. Prison and banishment from public office should be their reward for violating the public trust! Politicians accepting lobby money need prison and banished from public office. Lobby money is nothing more than a bribe. If you bribe a cop for not giving you a speeding ticket you go to prison. If a public official accepts a bribe, shouldn't they be put in prison as well?
Hot air balloons have a way of crashing when their fuel runs out. When the rise in real estate prices came to a dead stop and the value of real estate assets declined combined with a foreclosure explosion, the market imploded. The government created the problem and a 700 billion dollar bailout (laden with funding for pork projects) is meaningless. The credit boom is finished. But, where is the outrage?
Across the nation, real estate prices have fallen and municipal and state governments have raised their tax rates to compensate for the shortfall. If, when you get your real estate assessment value bill, you need to compare your home to the assessments of similar sold homes, you may find that you are overtaxed and could profit from a property tax appeal. It's worth a second glance.
A property tax consulting business coarse from PropertyTaxConsult.com allows for an outstanding route to help reduce tax liabilities and provide relief to those overcharged.
Selling houses to people who could not afford those home let alone the property taxes was begun by legislation passed by President Jimmy Carter. His legislation encouraged home ownership to people who were high financial risks by making it easy for them to get loans.
With the Clintons in the White House, the problem skyrocketed. They passed legislation punishing the mortgage companies if they did not lend to non-deserving borrowers. They put laws with penalties in them thus encouraging easy credit with eyes shut to risk. Sound lending practices were completely abandoned.
Fannie Mae and Freddy Mac bought these loans, repackaged these loans and sold them on the open market. They sent hundreds of millions of dollars by their lobbies to politicians that in order to continue this masquerade.
To insure these bad mortgages, AIG and other insurance companies evaluated the risk and sold insurance to cover these mortgages in case of default. Their leverage was set at a 12 to 1 ratio. They too threw millions of dollars into legislator's coffers and asked for and got the permission to raise their leverage to a 30 to 1 ratio. This greatly increased their risk as well as spectacurlary increased their short term profits.
How can fraudulent financial wizardry that has banks and brokerage firms leveraged at 30-1 be endorsed by Greenspan and Bernanke? How could they have allowed this shell game to continue? Quasi-Marxist promoters of Acorn (Association of Community Organizations for Reform Now) and related entitlement steering organizations bamboozled lawmakers into giving away valuable jewels to those who eventually couldn't pay the freight. What's wrong with renting if you can't afford a house or taking a bus if you can't afford keeping a car?
The House Finance Chief, SEC Chairman, Banking Committee Chairman and any Congressman or public official accepting lobby money were shills for this con game. Prison and banishment from public office should be their reward for violating the public trust! Politicians accepting lobby money need prison and banished from public office. Lobby money is nothing more than a bribe. If you bribe a cop for not giving you a speeding ticket you go to prison. If a public official accepts a bribe, shouldn't they be put in prison as well?
Hot air balloons have a way of crashing when their fuel runs out. When the rise in real estate prices came to a dead stop and the value of real estate assets declined combined with a foreclosure explosion, the market imploded. The government created the problem and a 700 billion dollar bailout (laden with funding for pork projects) is meaningless. The credit boom is finished. But, where is the outrage?
Across the nation, real estate prices have fallen and municipal and state governments have raised their tax rates to compensate for the shortfall. If, when you get your real estate assessment value bill, you need to compare your home to the assessments of similar sold homes, you may find that you are overtaxed and could profit from a property tax appeal. It's worth a second glance.
A property tax consulting business coarse from PropertyTaxConsult.com allows for an outstanding route to help reduce tax liabilities and provide relief to those overcharged.
About the Author:
Before you pay your property taxes, investigate and check for a property tax abatement guidebook that could reduce and save you money an what asessors say you owe in property taxes. Property tax records are often wrong and to lower property tax by way of appeal can lower your property taxes for years.
No comments:
Post a Comment