Whats the difference between 3 d!cks and a joke?
Pappy can't take a joke.....
i like ya dezz, but your insight on politics is one thing i don't miss from these boards
1. The lowering of underwriting standards in the mortgage industry which was encouraged and promoted by both Fanny and Freddie. This created a bubble in the housing market and encouraged banks to loan money to people without proper financial strength. This came as a product of Fanny and Freddie buying up loans from banks in order to encourage "home ownership"
2. The repeal of Glass-Steagall legislation which required banks to have investment banking and mortgage banking remaining seperate. This law was repealed by BILL CLINTON.
The most important was the lowering of underwriting standards. This has destroyed the housing market and created more upside down loans than has ever been recorded in American history. It was with the best of intentions, but it skewed the marketplace, manipulated by government and sent us hurling down this horrific path.
In an hour and a half I have my semi final match at our golf club. We started with a bracket of 32 players. I've scraped by 3 matches while giving a total of 32 shots. I'll be giving my opponent around 12 shots today. I will probably have to shoot par or better to win today. I haven't picked up a club in 9 days.
I fear my luck will run out this afternoon.