haha! I've seen the sketch floating around, but I had never seen the video it came from. Amazing. I can't believe the news crew actually did those interviews.
The Amateur Sketch! The Leprechaun flute that's a thousand years old!
In general, I hate local news because it's 30-60 minutes every day of this quality.
I was in Tahoe, forced to watch local news and a woman was explaining that a co-worker at the DMV couldn't make her mortgage payment because of the furlough days instituted for California government employees. I'm gonna go out on a limb and say the 10% pay decrease wasn't the cause of the foreclosure.
Hmm - I think you are actually going out on a limb there. THe main reason for the sh*tstorm we currently find ourselves in is due to over-leveraging, both w/in financial institutions and consumers. I guarantee some people out there who were foreclosed upon were good to go under their "current financial situation". However, I bet most didn't factor in a change (other than positive) to their top-line revenue/incomes.
That said, I would agree with you that many, if not most, were simply consuming way beyond their means, and didn't factor in ARM-based mortgages...
Whatever you do, stay watching the video until the amateur sketch
ReplyDeletehaha! I've seen the sketch floating around, but I had never seen the video it came from. Amazing. I can't believe the news crew actually did those interviews.
ReplyDeleteWow - there are WAY too many quality quotes from those 2 little minutes. I don't know where to start.
ReplyDeleteThe Amateur Sketch! The Leprechaun flute that's a thousand years old!
ReplyDeleteIn general, I hate local news because it's 30-60 minutes every day of this quality.
I was in Tahoe, forced to watch local news and a woman was explaining that a co-worker at the DMV couldn't make her mortgage payment because of the furlough days instituted for California government employees. I'm gonna go out on a limb and say the 10% pay decrease wasn't the cause of the foreclosure.
Hmm - I think you are actually going out on a limb there. THe main reason for the sh*tstorm we currently find ourselves in is due to over-leveraging, both w/in financial institutions and consumers. I guarantee some people out there who were foreclosed upon were good to go under their "current financial situation". However, I bet most didn't factor in a change (other than positive) to their top-line revenue/incomes.
ReplyDeleteThat said, I would agree with you that many, if not most, were simply consuming way beyond their means, and didn't factor in ARM-based mortgages...