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The Papers…….(separate post response to Brittany Wallman below)

www.sunsentinel.com

Scroll down to Brittany story in first post….. posted this morning…my response to Sun-Sentinel article in local section today!

Front page…third and final part of series about Sub-prime mortgages and foreclosures.

The sub-prime meltdown….

Large lenders, small brokers fed the home loan frenzy..( in an earlier post I stated that mortgage brokers deserve a big finger pointed at them for instigating a large portion of the massive problem.)

Called lender’s zeal….consumers bought into it…in every sense of the word! They swung open the the door of homeownership by loosening up qualification standards for borrowers…..and then offered them …purposely… not the lowest rate….so the new owners had to return to refinance….making the second commission…a done deal.

In Broward 42% of all new mortgages were sub- prime in 2006.

Even though they got in those bigger houses,stretched beyond reason…out the door most went to fill those larger abodes…credit cards…. furniture/electronic”deals” with promises of no payment until ….whenever down the imaginary road…..an explosive combination… almost gluttony with consuming the “American Dream”…while it lasts!

Knowing full well there are no “victims”…each borrower had a choice…had the ability to be realistic…. or not….

Look at TV or the movies…and what do you see…..a character playing their part … holding down a middle class job…going home to…a Mac- mansion…fully furnished, flat screen TVs and 2 of the latest model cars out in front of the three car garage…. so it seems it really is realistic…game on !

Now both the borrowers, lenders and brokers are facing the music…..the scrutiny….the reality….game over?

Shark attack….Drama on the High Seas….sad story…all over the news…the tourist died yesterday….but again…how do you get in the water…with bloody parts (reported on the news), and sharks….Russian roulette …can just see the powers that be imposing new rules to these thrill seeking boat tours…soon.

If the borrowers above saw the sharks in the water…. would they have dived in anyway? Interesting comparison…

letters to the Editor…. a letter from MichaelW. Sole, Secretary, Florida Department of Environmental Protection…Tallahassee….Why Hillsboro received tax money for beach restoration…(must have gotten an earful to respond in print)….he takes issue with Hillsboro being described as a private beach and therefore it is not appropriate that they receive taxpayer funds…he bases the decision on how much public access and parking there is

Interesting would this also be the “common good” we keep hearing about with the Palm Club?

A picture of Hillsboro beach drilling to install the plastic tubes as an experimental re-nourishment project. (local section)

Opinion…Carlos Muhletaler, executive director of Florida Stop Lawsuit Abuse….a statewide legal watchdog group. He explains the impact of medical lawsuit abuse on those not personally being sued …the current and future impending neurosurgeon shortage both in Broward and Palm Beach….

This is why I am still no fan former presidential candidate John Edwards.

Commissioner in Deerfield reimburses city for car repairs…(in an earlier post)….next time think before you cross the line of personal responsibility and public funds.

Business section…Miami Herald and Sun-Sentinel announced a partnership in home delivery of their papers……maybe the polar opposite papers in LBTS might want to join this bandwagon….with the Pompano Pelican…good move fiscally and a start in the healing process….just a thought.

Guess the housing woes have carried over to the home improvement stores and those do it yourselfers…. trickle down theory?

www.miamiherald.com

Justice Clarence Thomas …who has not asked a question from the bench in 2 years….he is silent….is it time to reconsider Supreme Court Justices having a lifetime position?

Also from the Supreme Court….Exxon Mobil’s appeal, a 14- year effort, that could overturn a 2.5 billion punitive damages award.

Just think…if the dreaded fears of Bert J Harris INTENTS…became actual court cases….they too could be 14 years in the making…remember Yardarm case in Pompano Beach? (worth a google)

Broward and State section….

Weston, Online swapper…where people can trade items and services instead of purchasing them… www.caretotrade.com

an idea with legs…by a 26 year old entrepreneur!

Tallahassee nixes school vouchers …..yet again…will not put a state constitutional amendment on the ballot…..guess those lobbyists are working overtime?

Business section…some sparingly positive news that hotels are seeing modest gains…(in an earlier post, LBTS on El Mar Drive seems to be the exception…with no vacancy signs!)

Linking the web,TV…modest capabilities now…but it will grow…as new advanced TVs have jacks for direct internet connections as a new feature.

More to come…

Note…Commission tonight at 7 pm…Comcast channel 78…online at www.lauderdalebythesea-fl.gov

agenda online also…older post with agenda on this website…..

must be there by 7 pm to sign up for public comments.

One last thing….notorious Sun-Sentinel blog prediction…. today bloggers will be dealing with the Brittany Wallman article in Sun-Sentinel!

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