CNN/Money: "Careers Vanish After Subprime Freefall"
I'd say I have no words ... but we all know that would be a lie. So here goes.
Yeah? Well, you should've watched The Smartest Guys in the Room. That whole Enron thing? It's all about smart people who got greedy. Then they figured they could never fail. And then they got stupid.
You could've learned something.
Today, they're trying to get by on his unemployment benefits of about $450 a week, which covers only about an eighth of the basic payments they owe every month.
Darn those payments, anyway. You mean they don't stop when the income does?
Income of $1,800. Expenses of $10k plus.
That, friends, is some nasty math. So what's their roadmap from here?
Sounds like a hell of a plan to me. Let me know how that works out.
My gosh! What subhuman straits have we reduced these people to? Have we no decency?
Next we'll hear that the Copes won't be able to participate in Orange County's new rotating nozzles rebate program.
Someone. Anyone. Please.
Stop the madness.
As a stock-trading mentor of mine used to say, "Lessons are repeated until they are learned." Apparently Mr. Cope didn't pay attention the first time, when Mysti lost her New Century job in May.
Or the second time, when he was sliced from First NLC Financial.
Or the third time, which is RIGHT FREAKIN' NOW. We're told that he watched as:
"They may be employed by a company for months and months, but they can't close a deal," he said. "They've got the borrowers, but unless that thing is pure gold, it isn't made. It's a commission business. They're to the point frankly where they would rather get laid-off so they can go collect unemployment than be employed and make no money."
And still Our Hero wants to sell houses.
Take your seats again, please, Mr. and Mrs. Cope. Class is in session.
That's because YOU, Kent, don't get to determine what it's worth. What you PAID for the place has NO bearing on "what it's worth." One of those weird "market" things. Try reading Why Smart People Make Big Money Mistakes if you're fuzzy on this.
And yes, you can pick it up from your local library. It's a jaunt that'll be worth more than the cost of the gas for your Suburban.
Well ... maybe.
You know what I wonder? I wonder just when it is that a wonderful view of the Pacific Ocean becomes not quite so wonderful at all.