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Can we start by agreeing that the Government should not regulate any company! They
should not make laws requiring any business to lower its standards in the name of fairness. I don't mean prejudice I mean
making laws that pressure them to make bad decisions so the politicians look good to their minority constituents or any other
constituents. At what point in our history did we give away our pride and trade it in for the belief in entitlement? I
can remember going out in the late 80's to buy my first home for my wife and family. After living with our parents and
then renting for a few years we decided with a baby on the way it was time for a home of our very own. We looked and found
a house. Unfortunately our dreams were soon shattered. You see, the bank said we had to qualify for the loan and
began to interrogate us on our finances. I told them about my $9 per hour job, full time, and my wife's full time job
making $7 per hour. The banker seemed impressed but then asked about our savings? I told him of course, that its very difficult
to save money with a family and another child on the way, even with my $500 pickup and our $275 car with no payments, we had
yet to be able to save money. This was not good because they required at least 10% down payment on the home. At first we were
upset but then got the idea that we will just borrow that 10% from our families. I told the loan manager about my plan and
he said no! The bank wants you to bring in your bank statements and records for at least six months to show that you are responsible
and have saved this money on your own. I guess the stars were not aligned on that day and we ended up not buying our first
home. I guess if I was loaning someone money I would want these same measures to protect my money and hope that it gets re-payed.
Today things have become amazingly different and we can thank our government
for telling banks, " Go ahead and write risky loans and give sub-prime mortgages because, we, with tax payer money, will
buy those bad loans up! I mean whats the risk? How can there be any risk, I mean if it makes us feel warm and fuzzy by helping
out those who can't afford a home, it can't be bad! Can it? Let me give you an example. I pay my bills but credit
is in 500's. My wife and I make less than $100k per year. About 3-4 years ago I had my existing home that I do not own,
I then went to the banks and bought an investment home for $200k with no money down and interest payments only, at 5.4%, through
Countrywide, lets not forget I have 3 car payments and about 15 credit cards, 2 teen agers, 2 dogs, I then had a small financial
strain and needed a little help so I walked into Chase Bank alone without my wife and after filling out paperwork walked out
with a non-secured $70k signature line of credit on top of all the other debt! I called everyone I knew and told them that
the banking industry just gave me $70k with no collateral or guarantee that I would pay it back! I have made some bad business
decisions but I would never have gave myself a loan! I knew I would pay it back and did but WHOA! It was at that moment I
knew we as a country were in for huge trouble if we had any sizable rise in unemployment. If they gave me that loan, plus
I had 2 friends claim bankruptcy and within 3 years went out and bought another home! Yup you heard that right!
Now if you read my article on the housing bubble then you know how this started
but did you know that Democrats blame the Republicans? Thats right they say on TV and everywhere else that this is because
the Republicans have demanded less regulating buy the government and its true they did. This housing crisis is not because
of too little regulation its because of over regulating these banks. Thinking the government knows better than the banks how
to loan money! People we all just got fed a Socialism sandwich and still elected President Obama ranked the most liberal senator
on the planet! I challenge someone to show me a government ran program that runs perfectly. Here's the problem, the US
government is not in business to make money. So how on earth can they dictate how companies should run? Lets name a few government
ran programs that we as tax payers keep afloat. The inner city transits like Metra continually run at a loss, Buss and shuttle
services in small and large cities who run at a loss, Medicaid and Medicare don't get me started on these 2, social security
the big question , " Will I get My Share?" Lets just say if you had a business do you choose A. College Graduate
with degrees in finance and sales and management or accounting or B. A government employee, any government employee? Not to
get off the subject but how can a civil servant belong to a Union? I am baffled. Seems like a contradiction. Maybe I'll
ask the Department of Labor.
The list is too long on who we can blame for this mess. I personally believe that
the Liberal Democrats have forced this sense of entitlement down our throats for so long that we are all starting to believe
it. Check out my entitlement page and ask yourself if its the American way or have we just been led astray and need
to get back on track. People forget that our nation is a Republic founded on Capitalist beliefs not on Socialist ones. If
we want to blame someone we can blame ourselves for turning the other way and allowing our nation to be infected with these
ideas of entitlement which are dragging the whole nation down. Entitlement is never ending and can only lead to failure.
If you are concerned for your country then you need to open your eyes and keep a close watch on this new administration. We
have a Socialist in the White House who has no problem using scare tactics to push his agenda. 18 days in office and
I have seen at least 2 Socialist bills trying to get passed into law. Do you think that Acorn and other community action
groups had a large part in what has happened than you need to watch these videos below and ask what is being changed in our
government because so far I have heard nothing about changing Freddie Mac and Fannie Mae or ammending the Community Reinvestment
Act, only that we need to spend more money and start new entitlement programs such as Obama signing the SCHIP program on the 4th
of February 2009.
By Thomas McEntire
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