Bud Zeller, Real Estate Pro in Folsom, CA

Two quotes of wisdom?

Asked by Bud Zeller, Folsom, CA Fri Dec 2, 2011

"These two entities-Fannie Mae and Freddie Mac-are not facing any kind of financial crisis." "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. September 2003

"This country has never had a congressman like Barney Frank and the House of Representatives will not be the same without him."
Barack Obama, November 28, 2011

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Atta Boy Big Max. Here's to getting it done in '12.
1 vote Thank Flag Link Sun Dec 4, 2011
I don't know, Jim, but it works!

John, I'm with you. People seem to forget that residential real estate brokerage was a tough profession before government-backed mortgages. The folks who want to return to the days of seller-financing and cash-only can make for interesting conversation, but I'm not eager to join them on their journey!
1 vote Thank Flag Link Sun Dec 4, 2011
Whew!.............I think I glean somewhat of a real estate fervor somewhere in this message. But the overwhelming message is political, philosophical and rhetorical at best. Let's face it without our cousins Freddie and Fannie and I'll even throw in Uncle FHA we (RE professionals) would all be "OCCUPYING" a park or a city street somewhere in the USA.

Bottom line? We need real "CHANGE". Not more lip service from both sides of the isle. Truth be known? Both sides are pandering to the whims of their respective lobbies, earmarks and special interest groups. It's no longer about their constituents. It's about those who line and pad their precious and bottomless little pockets.

Bud, I'm not quite sure if you were asking a question or making a statement but truth be known we're not only losing the battle we're losing the war! Unless our great nation spawns a Zeitgeist of sorts or at least an anomaly with respect to our leadership pool we're no better off than any other struggling and bankrupt country on this planet.

We can no longer hold ourselves out as the "holier than thou", "right makes might" leader of the World. We need to stop pointing fingers at everyone but ourselves for our predicament. It's not Barney, Newt or Obama's fault for our pathetic situation. It's our fault for voting them in and then going back to our daily patterns and rituals thinking all the problems of the world will be solved.

A democracy's leadership is but a mirror image of its constituency. What we see and experience from our leaders is a direct reflection of who we really are. We vote these people in based on our own morals, beliefs, values and ethics. When things don't work out as planned we just conveniently point our fingers at them and place all accountability and responsibility on their unresolved failure.

DISNEYLAND IS NOW OVER FOLKS!! But then what do I know? I'm just a dumb ole 66 year old.
1 vote Thank Flag Link Sat Dec 3, 2011
I agree read the failure of Capitalism!!
Flag Sun Apr 1, 2012
Do you really think anybody is going to come out and say. Yes we paid a man a lot of money for his advice and yes we did not listen to the over paid advise and yes we forged ahead. But, by the way we did have pressure from the Government to keep the fire going. Yes, we should apologize, but first we need more tax payers money to pay our new Managers. We may even take their advise.

I did ramble a little there, but I think you can get it.

Those are not the facts that I was talking about, I believe the figures.

I do wish the Government would work for the people.
1 vote Thank Flag Link Sat Dec 3, 2011
I like your ranchland metaphor, Mack. I was a fan of Aesop's fables growing up. Can someone explain why clarity improves when we use anthropomorphous animals to illustrate our human situation?
1 vote Thank Flag Link Sat Dec 3, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
Jim, I agree with you totally.

The big difference between the parties seem to be that one side acts as if the American people are a flock that needs to be tended to in order to provide regular revenue, and the other side acts as if the American people are a flock that needs to be harvested all at once.
1 vote Thank Flag Link Sat Dec 3, 2011
I did check my facts before posting about Gingrich. The news reports variously report that he pulled in between $25,000 to $30,000 per month for what Gingrich said was an hour or so per month of consultation, four four years, 1999-2002 and then again for two more years later in the decade. The reports put his total compensation at somewhere between 1.2 million and 1.6 million. I used the lower figure, as it seemed contemptible enough to me.

As for his self serving "They ignored my advice" response. - No one from his Freddie Mac days verifies that, and I think the burden of proof is on Gingrich to prove (with reliable and verifiable documentation) that he was earnestly trying to stop the giant mortgage firm from its destructive path.

And he should return the money (after subtracting taxes he paid and the fair value of his wages as a part time historian.)

The facts appear to indicate that the main "value" that Gingrich provided to Freddie Mac was peddling his influence to his fellow conservative thinkers, and congressional colleagues. Barney Frank screwed up. Newt Gingrich was a paid shill.

One man damaged the nation due to his hubris, ideology, and greed; the other man damaged the nation out of hubris and ideology.

Both parties serve the interests of corporate executives instead of the shareholders, consumers and workers. Those of us who want capitalism succeed over the long run understand that it can not be successful if large numbers of our citizens are pushed further into poverty. I think the corporatist Democrat party understands this slightly better than the Republicans.
1 vote Thank Flag Link Sat Dec 3, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
Ah Barney Frank... just to be fair and balanced here. Lets bring up the name of Newt Gingrich the $30,000 per hour historian for Freddie Mac (reportedly collected $1,200,000.00 as the Freddie Mac "historian")

The average salary for historians is now $8,272 less than the average salary in all {academic} fields ($62,755 as compared to $71,027). At private institutions the gap is also significant, but smaller, at $3,703 (with an average salary of $65,349 against the average for all fields at private institutions, $69,052).

The link: http://www.historians.org/perspectives/issues/2009/0905/0905…

Newt Gingrich wants to be your Republican president. I think he is just as tarnished by Freddie Macs history as Barney Frank. What do you think?
1 vote Thank Flag Link Fri Dec 2, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
You need to really see what he was paid before stating facts. He did say that they did not take his advice.

I do hope Obama can help. Hopfully he gets it soon. Hopefully it was not a bad or waste of a vote. But, not feeling really good so far.
0 votes Thank Flag Link Fri Dec 2, 2011
One big problem is his replacement Waters. It maybe like fire in to coals. If who had to pick one person who set this fire it was Barney.

Hopefully, we will get the change for the better.

Great post.
0 votes Thank Flag Link Fri Dec 2, 2011
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