Comments on: East Bay Mortgage Rates Are Not The Issue! Credit Is The Issue!

By: Jim Walberg

Jim Walberg — Thu, 11 Dec 2008 14:24:15 +0000

Hey Brett,
Congress did call to the Hill several of the key banking players yesterday to ask why they are still hording billions of dollars instead of getting those funds out into the credit market. There were no good answers, and the committee stated they were going to put on a further layer of oversight to make sure it happens. It may be just window dressing, but I am going to follow this one closely. Until next time.

By: Jim Walberg

Jim Walberg — Wed, 10 Dec 2008 16:07:16 +0000

You are correct, Brett. It is mind boggling to me that Congress and Paulson haven’t gathered the heads of the lending institutions back to the Hill and ask them some tough questions. I even have a hint of a feeling that Paulson just gave all his buddies the key to the Fed’s safe and is making sure they are taken care of before Obama takes office when he may attempt to unwind some of this free money. Also I am amazed that no one else in a position leadership is bringing up this topic. The BIGGEST issue in the world of real estate today is the availability of credit. Thanks for checking in.

By: Brett A.

Brett A. — Wed, 10 Dec 2008 01:30:31 +0000

Yet the Congress and Fed are not revisiting the issue of handing out all those Billions and watching their grateful benefactors horde the money.