The reference to “good ol’ boys out here” meaning the appraisal industry. The fact the government is the problem is a given and I couldn’t agree with you more.

I’ll see your term limits and raise you fines based on income.

Term limits!!!!!!!

Sorry, meant to say; without this private group, none of it would be possible.

It’s all going down again, this is the calm period as they attempt a soft landing and gently deflate. Of course we know none of it is working. QE is no longer contained in the housing market, inflation proves it. CPI is way off, they’re talking much higher aggregate and we can see with our own eyes that pound of hamburger doubled in cost, so did the gallon of gas and loaf of bread.

Everyone in the halls of government whom has acquiesced to never balancing the budget, operating with no intention to pay down the national debt, derelict in their duty and criminal in their acceptance of ongoing pork spending. Of course the politicians don’t run anything, and those whom pull their strings are not going to turn off their own privately controlled corporate welfare monetary supply. They make sure to have a member on every board of every major media medical and all these other industries full time. ‘It’s a private club, and you and I are not in it. They’re coming for your money to give to their rich friends on wall street. And you know what, they’re going to get it, they’ll get it all.’

Every single new subsidy program, along existing subsidy programs merely puts more money into the ultra wealthiest pockets and leaves less real wealth for regular Americans. People whom accept the subsidies are their own worst enemies because by fueling and supporting ongoing demand for handouts, they continue to sell out their own and everyone elses posterity down the line to generations after. This is why among communities that accept more welfare, there is consistently declining actual wealth. These statistical measurements may be accurate, but their framing as a problem which more government intervention is the solution is absolutely the most counter productive approach possible. Every single dollar accepted throughout the entire spectrum of welfare from corporate to citizens in need merely tacks up the debt, fuels inflation, and cuts an already diminished monetary worth into smaller pieces. Taxation is theft as it’s literally impossible to generate new money and new wealth through the process of taxation and then subsequent welfare redistribution. Poisonous protectionism. We are from the government and are here to help.

http://www.normeconomics.com/
https://www.usdebtclock.org/

Ah yes, the empty bag.

Government sponsored luxury.

Although subprimes are nowhere near the levels now they were then, unfunded derivatives are exponentially higher. Sold and bought and sold and bought again. We’re going to need a bigger bag. The entire thing made possible by the federal reserve because with this private group controlling monetary supply, quantitative expansion and all the pet programs that run with it would not be possible. Imagine having to ring up the gold miners and tell them to get back in that hole and extract several more tons immediately, congress passed down another 50 billion dollar subsidy, and another one is lined up for next week, and the week after, and the week after, and again, again, again, again.

Jason
You are spot on!!

Next, the Clinton administration’s rules ordered the taxpayer-backed Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent as part of a big push to expand home ownership.

https://www.cnbc.com/2016/05/28/are-the-clintons-the-real-housing-crash-villains.html

In 1994, Bill Clinton had the brilliant idea that banks should be forced to loan money to people who can’t pay it back. He then compounded this error by removing oversight of the banking industry.

Gas + Match = Boom.

The Community Reinvestment Act forced banks to give loans to people based primarily upon their minority status, not based on their ability to pay back the loan. Banks suddenly found themselves with a massive amount of toxic “subprime” loans. So… being managed by reasonably intelligent people, the banks acted to get rid of these toxic loans.

Because Clinton had also removed oversight, the banks had a free hand to misrepresent and sell these toxic loans. Clinton’s actions literally created a “Wild West/Anything Goes” environment.

The whole scam worked as long as housing values kept increasing.

But when the FED increased loan rates, people with adjustable rate mortgages could no longer afford their house payments. The foreclosures started and the dominoes began to fall.

Wrong!

Here is what Robert Reich, the Secretary of Labor in the Clinton administration, wrote on this matter:

“Finally, in 1999, President Bill Clinton struck a deal with Republican Senator Phil Gramm to do exactly what Wall Street wanted, and repeal Glass-Steagall altogether.

What happened next? An almost exact replay of the Roaring Twenties. Once again, banks originated fraudulent loans and sold them to their customers in the form of securities. Once again, there was a huge conflict of interest that finally resulted in a banking crisis.

This time the banks were bailed out, but millions of Americans lost their savings, their jobs, even their homes.

A personal note. I worked for Bill Clinton as Secretary of Labor and I believe most of his economic policies were sound. But during those years I was in fairly continuous battle with some other of his advisers who seemed determined to do Wall Street’s bidding.

On Glass-Steagall, they clearly won.

To this day some Wall Street apologists argue Glass-Steagall wouldn’t have prevented the 2008 crisis because the real culprits were nonbanks like Lehman Brothers and Bear Stearns.

Baloney. These nonbanks got their funding from the big banks in the form of lines of credit, mortgages, and repurchase agreements. If the big banks hadn’t provided them the money, the nonbanks wouldn’t have got into trouble.

And why were the banks able to give them easy credit on bad collateral? Because Glass-Steagall was gone.

Other apologists for the Street blame the crisis on unscrupulous mortgage brokers.

Surely mortgage brokers do share some of the responsibility. But here again, the big banks were accessories and enablers.

The mortgage brokers couldn’t have funded the mortgage loans if the banks hadn’t bought them. And the big banks couldn’t have bought them if Glass-Steagall were still in place.

I’ve also heard bank executives claim there’s no reason to resurrect Glass-Steagall because none of the big banks actually failed.

This is like arguing lifeguards are no longer necessary at beaches where no one has drowned. It ignores the fact that the big banks were bailed out. If the government hadn’t thrown them lifelines, many would have gone under.

Remember? Their balance sheets were full of junky paper, non-performing loans, and worthless derivatives. They were bailed out because they were too big to fail. And the reason for resurrecting Glass-Steagall is we don’t want to go through that ever again.

As George Santayana famously quipped, those who cannot remember the past are condemned to repeat it. In the roaring 2000’s, just as in the Roaring Twenties, America’s big banks used insured deposits to underwrite their gambling in private securities, and then dump the securities on their customers.

It ended badly.

This is precisely what the Glass-Steagall Act was designed to prevent – and did prevent for more than six decades.”

https://robertreich.org/post/124114229225

https://www.judicialwatch.org/jw-victory-asheville/

https://www.judicialwatch.org/donate/the-verdict/

Ahhh, the trolls are back. Talk of racial strife and heavy handed government brings them out salivating for free handouts and the opportunity to shill their propaganda, happens every time. Self defeating defeatist attitudes, oh this is the only way wish there was something else but we’re simply going to have to expand government with more tax subsidies, there is no other way. Before you go on about slaves and such, remember it is you and me both whom are economic slaves under the current federal reserve system. There is no subsidy possible to help people with what’s coming. Regardless of race, your economic fate is already sealed. I know it is easier to look away, but take a minute to look at the real time economic debt and income counters, watch in amazement as the numbers fly by, be sure to contrast spending vs intake. I’ll be standing by with more data if you can parse how much is going to which racial class, who’s spending more, who’s paying in more. Enlighten me with your knowledge of both corporate and citizenry based welfare program application, and how that effects both peoples ability to access financial tools, as well as properly maintain their financial positions.

https://www.usdebtclock.org/

Chris; so do you go out of a market area to value homes higher than the immediate area? Even if it means staying inside the “red line district” just so you’re not part of the “Good Ole Boys Network”?

Well said, Mary. You’re exactly right. If the goal had been a color-blind society, as MLK hoped for, we would have been so much better off. Instead, the left has been trying to divide us by race, class, age, gender, sexual preference, etc. And we are paying the price, to the point where now, if you say you want a color-blind society, you’re a racist! Our appraisal profession is just one of many which is suffering for it.

Chris G, once again, I see you don’t know what you’re talking about. If you think the standards to graduate high school are as tough now as they were 30 years ago then I have a bridge to sell you. And yes, the standards are now different for different races. MLK would be rolling over in his grave if he could see what the left has done to divide the races.

Chris G, More than they do today. Over a half dozen of classes, two years experience, log 2500 hours and the test. That was just to get the license. That was in the early 90’s. To get certified I had to take 5-6 more classes. I already had a four year degree. What’s your point?

HK.. Please do educate us. But I don’t think you have the intellect to answer the question. So you just go on with your one liners and think you are adding to the conversation.

There is a program in my city that will build an ADU on your property and finance it for $100k. It’s not available in the black or white neighborhoods….. This mess goes on all the time.

Dan – I have observed blacks have to work twice as hard to prove themselves in this day and age. For them say don’t expect much from black students in ridiculous.

Seneca – what were the requirements for you to become a Certified Appraiser? Just wondering.

RT – they have been making policies that violate the 14th amendment since it was written by men who owned slaves.

There shouldn’t be any reason for this type of policy in this day and age. But sadly there is a need. Maybe not this but something needs to happen. If you have a better suggestions please tell us.

Robin in Denver – I have just trained one candidate waiting to take her Certified Test. I will train anyone who wants a chance.

Also Robin in Denver, my mentor was not required to take any of the classes, nor was required to have a college degree (although she has one) in order to be certified. FYI