| Have we not learned anything from our past | | | | back yard, dragged to the dealership or pushed if |
| mistakes? A few years ago, the Clinton | | | | required and those people get a new car with $4,500 |
| Administration and Barney Frank led a charge to | | | | of our money we might find the mortgage cycle |
| change the rules of mortgage qualifying to "ease" the | | | | start again. The next major job growth spurt could |
| process for low-income people to own a home. Not | | | | be in the Auto Repo business. Some expect that a |
| responding quickly enough law suits threatened | | | | large portion of those who get the discounted cars |
| against the major mortgage companies to gain | | | | might find they cannot afford to pay for them. |
| compliance. | | | | We just went through this cycle on houses; it |
| Today wonder and shock dribbles off our politician's | | | | happened once, guess it could happen again. It is |
| lips that in our creative free enterprise system, while | | | | possible in 18-24 months the rate of repo actions will |
| responding to government pressure to "ease" up on | | | | surge, the number of cars hitting the used lots will |
| qualifying people, some went one-step further. They | | | | soar. Do not be surprised if somewhere in our |
| made it possible for people to get houses when they | | | | creative free enterprise system someone finds a |
| could not afford the house. | | | | way to take this government sponsored program a |
| That met the intent, concept, and goal of the push | | | | step further. |
| to "ease" up on the mortgage requirements for | | | | When that occurs and we will scratch our heads |
| profit. We are a capitalist country, it is our strength, | | | | wondering, why and how it happened. Let us take a |
| and it is our weakness if abused. It does work | | | | moment and remember the mortgage crisis. Did we |
| better, when the government does not attempt to | | | | learn anything from the mortgage mess we are |
| control, direct, and manage the process. | | | | clawing our way through now or will we do it again, |
| When all the old cars are moved off the blocks in the | | | | only this time with automobiles? |