When I was recently graduated with my Planning degree, I acquired a theme song. It was a Marvin Gaye song entitled "You're the Man". Sirusly, read the lyrics. Chills.
Then, not to be outdone in the slightly obscure Detroit 70's music scene, I've been singing Funkadelic's "Can You Get to That" all day, today, after reading about the (cough) $700 BILLION dollar bail out plan.
(Stunned silence followed by crickets.)
"I once had a life, or rather, life had me. I was one among many, or at least I seemed to be. Well, I read an old quotation in a book just yesterday. Said, 'Gonna reap just what you sow, the debts you make you have to pay.' Can you get to that?"
Yes, George. (Clinton, not The Shrub.) I most certainly can get to that.
For those of you not so in the know of the life of the Hoppytoddle, we are in the midst of a pretty big motha of a bankruptcy. See, we owned, um, eight different properties here in Florida. The house we live in we bought in 2005, at the height of the market, so that I could be closer to the shiny job I described in the previous post. We offered $9k more than the asking price, as there were 8 other offers made on the same day & if we hadn't we wouldn't have gotten this lovely place. We put $100k down. We got an offer when we had it up for sale that came out to exactly $300 more than what we owed, when everything was said & done. Oh, & I should mention that our taxes & insurance ALONE were $1100/ month, at this point. Well, see, we are still in Florida because when our purchasers tried to mortgage $10k less than what we owed on the house at the time, it wouldn't appraise. So, the deal fell through. That was way back in 2006. Fun, huh?
Then come to this past year, when we tried to refinance 2 of our properties that we bought in 2002, from adjustable rate mortgages to fixed. Yeah, houses that we've paid payments on for six years. Well, they also appraised for $20k to $30k less than what we owed.
Oh, & the suckiest. This lung disease that I have? It don't like the super humid swampiness that is, ya know, the tropics. My body does things like yawn every five minutes, since I'm not getting enough oxygen, my joints swell all up bringing new meaning to cankles, & my chest hurts like I've got one of those gothic spirits sitting on it. So I'm housebound from July to October, praying we don't lose power.
Since all of the real estate was in Biggie's name, we decided to just declare bankruptcy. We have no credit card debt. Just my student loans & real estate. This is really hard on Biggie. But a heart attack would be harder, I said. I'm one of those crazy bitches that actually likes to see her husband alive & shit. Well, most days.
(Yes, I'm feeling a little crazy tonight. Forgive the language. Consider tonight's musical selections for context.)
So we are now waiting to see how long we get to live rent free in our own house. I have a friend who's been in foreclosure for over a year now, & still in her house, so if that should happen we should have a pretty large chunk o' money. Not that it will be worth anything at that point, but hey, maybe we could buy a llama or something. The plan is to rent a house here for another year, assuming we are expecting to get pitched sometime around January, then figure out where & the heck we want to go. Since watching Sicko, my husband's native Canada is looking pretty good. It's currently looking like it's going to be a choice between Portland, OR or back to Detroit. & when I say Detroit, you should see this house. Sirusly, if you're not hip to the D, you'll flip.
Besides that, read about this supposed bail out. In case you don't know it yet, it is not the answer. It's an insult. Are we really supposed to care about all those whiny bankers out there who beat their desks with their fists about how the government needs to solve this problem or else it will cause the inevitable collapse of all business in America? Excuse me? Aren't you the guys who got multi-million dollar yearly bonuses for the past decade? Why don't you cough some dat back up? Because I don't quite see how we are in the same boat here.
I am getting seriously pissed at the panic being stoked by the media. I understand, but it is highly irresponsible. This is establishing a culture of hysteria. And this plan IS hysterical.
I'm gettin some deja vu from all this hysteria. I'm beginning to see a trend in this Doomsday, We All Need to Be Buyin' Some Livestock, Victory Gardenin', Fear Pandering. Does anyone else remember a time in the not so distant past when a certain governmental entity pressured our (actual) elected officials about how he could only save us from EMINENT DOOM if we provided him with FULL & UNDISCLOSED AUTHORITY???
Yes, from the plan:
"Sec. 8. Review.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
Somethin' about Weapons of Mass Destruction?
Not be a complete ranting lunatic, but hasn't it been like 6 months since they (argh!) bailed out Bear Stearns? The government has yet to do anything to cope with the credit default swaps or oversee the investment banks. & we get no time to review this strategy?
Haven't we learned what ignorance & fear can do to our nation, yet?
Please, anyone reading this: write or call their Representative or Senators. Tell them that if they vote for this bill, without the kind of deliberation that anything costing $700 billion demands, you will vote for their opponent in the next election. Try not to swear.
& leave me some comments, already. I'm impressed that I'm drawing traffic from Austrailia. Wow. I can say, "Well, I'm big in Austrailia!"