Forum Post: Excellent Piece on Bloomberg and BS
Posted 12 years ago on Nov. 3, 2011, 3:21 p.m. EST by NightRunner
(4)
This content is user submitted and not an official statement
www.rollingstone.com/politics/blogs/taibblog/mike-bloombergs-marie-antoinette-moment-20111103#ixzz1cfQRdglW
I can testify to the actions of countrywide the author claimed. When i started looking for a house, i sat down with my budget, figured out what i could afford as a payment without leaving myself with no leeway. Whan i went to get a loan, they approved me for double--yes, double -- what i was willing to take on. I ended up buying a small place for 2/5ths of what i had been approved for. Good thing, since both insurance and taxes skyrocketed, and then my job went away... I planned for the worst, thank god, but how many people are not as pesimisstict as am I? How many said, "wow, honey, we can afford a really nice house. The bank should know, they have more experience at this than we do..."