My New Blog

Remember the build up and excitement we all felt when we exited the 1990's and entered the new Century? Sure we all had concerns about the computers crashing, and the technology stock bust was under way, but everything else looked pretty good to us. Life was pretty good and getting better.

Well, the start of the 21st Century hasn't been that gracious to us Americans. We went from prosperity and growth to encountering some major life changing challenges. The terrorist's changed our lives on 9/11...but didn't defeat us. Mother nature has hit us with her best shot multiple times...but hasn't beat us. The War in Iraq has taken too many lives and caused spirited debates around the country...but hasn't divided us. Millions of foreclosures worth billions of dollars have chased families from their homes, and forced major institutions into bankruptcy...but we're still hopeful. Everything from rising unemployment, increased political tensions from abroad, loss of wealth due to a sluggish economy, loss of life from increased murder rates around the country...the list is endless.

Our will is going to get us through this..I'm proud to be an American.

Our innovation and resolve will get us through this...I'm Proud to be an American.

Our fighting spirit and dedication will get us through this...I'm Proud to be an American.

Our faith, love of Country, love of all lives, sense of honor, will to win, dedication, faith in our cause, belief in one another, hope for all Americans. compassion,  generosity, ingenuity, and trust will get us through...

I'm Proud To Be An American.

Investors rallied at the news of the Governments seizure of the nation's two troubled mortgage giants. Most experts view this as a real short term homerun. It had to be done. International pressure came from many foreign banks that were concerned with the possible collapse of these two mortgage giants. Wall Street and Politicians were concerned that if these two companies failed and went out of business, the entire real estate market would be on the verge of collapse. Nearly 2/3  of the mortgages were tied to Fannis Mae & Freddie Mac. Collapse wasn't an option.

Where do we go from here? Well, mortgage rates came down by 3/8 to 1/2%. That should stimulate some real estate sales. It all depends on whether or not Congress can work together and pass a plan that will secure the 200 Billion dollars in mortgages we just took over from the two failed companies. We are on the hook for this and we need a plan that will protect our interests, and still revive a sluggish mortgage industry. Our economy couldn't take a collapse of this enormity. Now let's hope our leaders will work "together", to provide a plan that will turn this bailout into something more profitable for our Nation.