The Jury Talks Back

12/4/2008

“Paulson is a jackass and George W Bush can kiss my lily white butt”

Filed under: Uncategorized — Scott Jacobs @ 10:13 pm

This is from a friend of mine, who posts as “deepdiver” over at Michelle Malkin’s site.  I have his express permission to post this, and I’m happy to do so.  I think it adds a different perspective to what’s going on.

The subject line?  It’s was the same one he used for the e-mail that went over the list we’re on.  I think it’s perfect.

And now, without further BS from me, deepdiver:

I don’t think I have ever been so angry with our federal government.  I own a real estate related business.  For the first time in my life I finally understand the anger, frustration and despair that caused men in 1775 and 1861 to say enough. About 2 weeks ago the mortgage rates dropped about a point overnight and the lenders and realtors were swamped.  My friends in casualty insurance were buried with requests for new home owner’s policies and copies of current ones for lenders.  My associates in banking and mortgage brokers were working 12 hour days up until Thanksgiving.  The entire industry was excited and getting back on track.  And then here comes Paulson.

I talked to bankers and mortgage brokers today who were swamped a week ago and some of them had fully half of their new loans put on hold today by customers after this announcement of perhaps lower rates.  There were loan officers who told me that they did not have a single customer all day and the only calls they got were to put things on hold.  Title insurance companies seeing the light at the end of the tunnel realized that they have to capitalize losses for at least another 2 months instead of one. I have an insurance agent friend who was doing upwards of 40 home owner’s policies or verifications a day since the rate drop and today did one.

The real estate market was surging.  Just one smallish mortgage lender I am very familiar with was locking in over $1 Billion a DAY in new loans before Thanksgiving and today they were just as busy as the last few weeks with phone calls putting numerous of those locks on hold.  They killed the market that was just coming back. *bangs head on wall*

It is one thing when the gov’t isn’t helping you or is even a surmountable irritation, but it is another when the gov’t is acting against the best interests of small business, the people and the nation.  I think I have finally lost all faith in our government.

6 Comments

  1. Well said.

    Comment by backwoods conservative — 12/4/2008 @ 10:24 pm

  2. “I’m from the government and I’m here to help.”

    Ronald Reagan

    There’s something to allowing the free market to work. After all that is how a capitalist system is purported to work.

    Comment by 30 pcs of silver — 12/5/2008 @ 4:12 am

  3. It took him this long to lose all faith in government?

    Comment by Sean — 12/5/2008 @ 10:08 am

  4. Hope springs eternal, I suppose…

    Comment by Scott Jacobs — 12/5/2008 @ 10:24 am

  5. Government of the people, by the people and for the people. Ergo, to lose all faith in our government is to also lose all faith in the majority of my fellow citizens, a proposition I do not take lightly. However, following November’s election, the final capitulations of the Bush Administration and congressional RINOs to fascist economic policies coupled with the Dems strengthened fealty to fascist economic and socialist social policy and the acceptance by a plurality of Americans of these policies that are anathema to the very principles and philosophy on which this nation was founded,grown and strengthened, yes, I may finally be at that point.

    Comment by deepdiver — 12/5/2008 @ 10:46 am

  6. If you think this is fun, wait until Barney Frank is in charge of your health insurance. The only people who will be getting rich will be proctologists.

    Comment by Huey — 12/5/2008 @ 6:37 pm

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