Mike Simpson
Senior Member
- Joined
- Jan 30, 2002
If anyone's interested I can fax you a copy. I'll be checking back this evening (12/14/02).
Mr. Garrett I believe you're exactly right. When someone with the ability to make undetermined amounts of money is in a position to choose their overseers you're going to have BIG PROBLEMS. This was true in the first S & L bailout, it was true in regards to the recent fiasco in the stock market (the accountants got the blame), and it's gonna be true in the evergrowing residential mess.
Ya know it's funny how those people in position to do something about this problem don't. I believe it's because they're under PRESSURE from the same source the appraisers are, and worried about their political careers. As Mr. Mike R. wrote in another post...the lenders have the muscle to push their agenda through (they got a much bigger gang). In the mean time the politicians will pass the buck--"blame the appraiser," they'll say.
My young son, nieces, and nephews seem to understand this w/clarity. "Why doesn't somebody do something about this Uncle Mike?" one of them once asked me. "Because," I told them, "when it comes to money, some grownups have a hard time doing the right thing." If something isn't done to correct this problem it's their futures I'm concerned about.
-Mike
Mr. Garrett I believe you're exactly right. When someone with the ability to make undetermined amounts of money is in a position to choose their overseers you're going to have BIG PROBLEMS. This was true in the first S & L bailout, it was true in regards to the recent fiasco in the stock market (the accountants got the blame), and it's gonna be true in the evergrowing residential mess.
Ya know it's funny how those people in position to do something about this problem don't. I believe it's because they're under PRESSURE from the same source the appraisers are, and worried about their political careers. As Mr. Mike R. wrote in another post...the lenders have the muscle to push their agenda through (they got a much bigger gang). In the mean time the politicians will pass the buck--"blame the appraiser," they'll say.
My young son, nieces, and nephews seem to understand this w/clarity. "Why doesn't somebody do something about this Uncle Mike?" one of them once asked me. "Because," I told them, "when it comes to money, some grownups have a hard time doing the right thing." If something isn't done to correct this problem it's their futures I'm concerned about.
-Mike
