Comments on: The Government Rant http://blog.mischel.com/2008/08/13/the-government-rant/ Musings on technology and life Tue, 06 Jan 2009 03:04:51 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Jim http://blog.mischel.com/2008/08/13/the-government-rant/comment-page-1/#comment-3664 Jim Thu, 14 Aug 2008 21:13:32 +0000 http://blog.mischel.com/?p=171#comment-3664 I didn't mean to imply that government was responsible for preventing this. The GSEs that guarantee the loans, though, <em>are</em> responsible for verifying documentation on the loans that they guarantee. No "perhaps" about it. My point was that government and government sponsored enterprise have proven incapable of oversight. Not just in this case, but in the vast majority (dare I saw all?) cases. To those who saw it coming and took intelligent advantage: more power to ya. It's too bad that you, like everybody else, will be stuck bailing out the idiots and crooks. I didn’t mean to imply that government was responsible for preventing this. The GSEs that guarantee the loans, though, are responsible for verifying documentation on the loans that they guarantee. No “perhaps” about it.

My point was that government and government sponsored enterprise have proven incapable of oversight. Not just in this case, but in the vast majority (dare I saw all?) cases.

To those who saw it coming and took intelligent advantage: more power to ya. It’s too bad that you, like everybody else, will be stuck bailing out the idiots and crooks.

]]> By: Darrin Chandler http://blog.mischel.com/2008/08/13/the-government-rant/comment-page-1/#comment-3653 Darrin Chandler Thu, 14 Aug 2008 17:03:00 +0000 http://blog.mischel.com/?p=171#comment-3653 As for the "mortgage crisis," I'm not sure that it was the government's job to prevent it in the first place. Perhaps they have an obligation to police what they guarantee, but beyond that it's caveat emptor. Some of us did indeed see this coming, and <a href="http://www.stilyagin.com/darrin/blog/2005/04/05/1300/" rel="nofollow">took advantage</a> of the easily available credit without doing anything foolish. The problem now is that even people who didn't take the more stupid options are suffering due to the effects on the financial industry. I'm not, and some of that is due to foresight. But I have to admit that some of it's through luck, too. As for the “mortgage crisis,” I’m not sure that it was the government’s job to prevent it in the first place. Perhaps they have an obligation to police what they guarantee, but beyond that it’s caveat emptor.

Some of us did indeed see this coming, and took advantage of the easily available credit without doing anything foolish.

The problem now is that even people who didn’t take the more stupid options are suffering due to the effects on the financial industry. I’m not, and some of that is due to foresight. But I have to admit that some of it’s through luck, too.

]]> By: Jim http://blog.mischel.com/2008/08/13/the-government-rant/comment-page-1/#comment-3622 Jim Wed, 13 Aug 2008 20:47:58 +0000 http://blog.mischel.com/?p=171#comment-3622 Man, that was embarrassing. Fixed. Thanks. Man, that was embarrassing. Fixed. Thanks.

]]> By: Ricky C http://blog.mischel.com/2008/08/13/the-government-rant/comment-page-1/#comment-3621 Ricky C Wed, 13 Aug 2008 19:53:39 +0000 http://blog.mischel.com/?p=171#comment-3621 Um, I know this isn't exactly a math article but... I think 2008 - 1973 = 35. I mean, last time I checked. Um, I know this isn’t exactly a math article but…
I think 2008 - 1973 = 35. I mean, last time I checked.

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