<div class='quotetop'>QUOTE (povol @ Dec 3 2009, 06:24 AM)
<{POST_SNAPBACK}><div class='quotemain'>Dude it wasnt just the Housing market in the US that dumped and Obama mania is a thing of the past.He is being ripped all over the world in editorials from Australia to Europe. Once people world wide starting peeling back the layers of this illusion,they are finding nothing but an empty black hole. As far as the 1000's, the fans said 3 years ago said the 800's was a mistake,the greatest rider in the history of the sport said it was a mistake. It only took 3 years for the boneheads that run the show to realize it was a mistake. Sometimes i wonder, how in the hell do people that run countries and huge business get to where they are in the world.
It really was though. Congress and our Senate Banking Committee (Rs and Ds) were abusing the hell out of the CRA program. As we all know, CRA was designed to help about 10%-15% of the population, but it was actually supporting 50% of all mortgages.
Such widespread abuse was only systemically possible if we peddled our mortgage securities all over the world while relaxing the regulations regarding the sale of the assets (to help them sell quicker). That is precisely what we did.
The system collapsed when we thought money would last forever and we REFUSED to pursue a serious energy policy that included expanding global oil supply. Similar things happened in MotoGP when they switched to the 800s--they raised expenses and cut oil.
Dorna are going back to 1000s. As far as I can tell, we are trying to pursue the exact same strategies that broke the bank, but we are going to try harder this time. More housing subsidies, more interest rate cuts, more entitlements, more taxes, more alternative energy.
I'm amazed the world even bothers to pay attention to us anymore.