In a rush to get my post done so I could study for my Operations quiz, I left off a great idea of Peter Ubel's I wanted to have here.
In the interview, he was asked "Are there things we can do to construct markets themselves differently so they actually take human nature into account better than the existing free market system?"
Now, his answer is easy. Very easy. In fact, we started doing this already in places like student loans.
"Sure, lets take things like conflict of interest. Say I am a credit rating agency; if you look at one of the causes of this mortgage its that the credit rating agencies weren't saying these loans were as risky as they were. And one possible explanation of that is they had conflicts of interest. They were working with these banks and mortgage companies, getting OTHER business from them. Its just human nature, when you are in that kind of complicated relationship, that being in one part of the relationship will influence how you work in the other part of the relationship; you are going to be less confrontational. You're not going to want to hurt someones feelings; harm the relationship because its important to your other part of your business. This is something we can regulate."
Feelings. Feelings are another reason why we are in this.
People need to learn and use the Ben Franklin decision tool. Basically, wright your problem at the top of the page, and divide it into two sections. One is the Pro side, the other the Con.
This will help take feelings and emotion out of decisions. Please. Use it!
Wednesday, February 18, 2009
Mortgage Mess
As I read about the 75 BILLION that the taxpayers are dishing out to help those facing foreclosure, I found myself asking WHY?!
According to this article, it will be helping some 9 million Americans. Ok. So 9 million people out there are facing foreclosure. (4 million facing it now, 5 million under water) I think some questions need to be asked before the government comes and 'saves' the day.
1. Why are these people facing foreclosure?
If the reason is that they lost their income and have no way of paying for their home, then ok, perhaps they should be helped out a little. My family looked foreclosure in the face once before, and any help would have been great. So, by all means, save the day.
According to Peter Ubel, author of "Free Market Madness" people are FAR too optomistic about their futures. In an interview with the Harvard Business Review, Ubel states that the governments role in a free market is not to protect the citizen from the 'predators', but to protect people from themselves. I say our leaders have failed us then.
Now, if someone is facing foreclosure because they had no business buying the home they purchased, that's a completely different story. Some may scream "Ah, the predatory lenders! They are evil! It was all their fault!" That may be true, however, that wont work with me. Nobody forced these people to accept a mortgage at these terms. The reason why these folks couldnt get better terms for their loans is because they were too great a risk for the banks. Many, including myself, place blame on past Presidents for thier highjacking of the American dream. (See LINK ) This was pure and simple - banks had to loan the money out to high risk families.
Uber also states that "Most people have a hard time comprehending numbers, things like percentiles. If you asked the average American what is 10% of 1000, probably 1 in 3 people wont be able to answer that quesiton correctly. Now, put those same people in front of a mortgage broker who is talking about an adjustable rate mortgage that starts at x percent and goes potentially up to y or z percent. Remeber, these are people who dont understand what a percent is, and we're expecting them to understand ARMs? I think sensable regulation would say that we need to either help make sure people understand things like that better or we need to set acutal limits on how much people would need to put down on a house before they can qualify for a certan type of mortgage to keep them from over-extending themselves. "
This sounds a lot like the way mortgages were done before the multi-national banks, when each city had their own savings and loan.
Not everyone should own a home. Only those of us who have shown over time that we are credit worthy pepole.
Now, back to this mortgage bailout. The next tier of folks to receive some help, are the 5 million under water. I really feel for these people. These are people who's mortgages are for more than their home is worth. One more time. Their property values have fallen, and now they owe more than their home is worth.
Why? Because the housing market has collapesed; the first 4 million who were a litte too optomistic about their incomes lost their shirts.
So now, we have people who pay their bills on time and are otherwise good citizens being dragged down bigtime. This will eventually be felt all the way to the top.
I am all for helping these folks, but, for the ones who caused this, I say
NOTHING. Uncle Sam is closed.
According to this article, it will be helping some 9 million Americans. Ok. So 9 million people out there are facing foreclosure. (4 million facing it now, 5 million under water) I think some questions need to be asked before the government comes and 'saves' the day.
1. Why are these people facing foreclosure?
If the reason is that they lost their income and have no way of paying for their home, then ok, perhaps they should be helped out a little. My family looked foreclosure in the face once before, and any help would have been great. So, by all means, save the day.
According to Peter Ubel, author of "Free Market Madness" people are FAR too optomistic about their futures. In an interview with the Harvard Business Review, Ubel states that the governments role in a free market is not to protect the citizen from the 'predators', but to protect people from themselves. I say our leaders have failed us then.
Now, if someone is facing foreclosure because they had no business buying the home they purchased, that's a completely different story. Some may scream "Ah, the predatory lenders! They are evil! It was all their fault!" That may be true, however, that wont work with me. Nobody forced these people to accept a mortgage at these terms. The reason why these folks couldnt get better terms for their loans is because they were too great a risk for the banks. Many, including myself, place blame on past Presidents for thier highjacking of the American dream. (See LINK ) This was pure and simple - banks had to loan the money out to high risk families.
Uber also states that "Most people have a hard time comprehending numbers, things like percentiles. If you asked the average American what is 10% of 1000, probably 1 in 3 people wont be able to answer that quesiton correctly. Now, put those same people in front of a mortgage broker who is talking about an adjustable rate mortgage that starts at x percent and goes potentially up to y or z percent. Remeber, these are people who dont understand what a percent is, and we're expecting them to understand ARMs? I think sensable regulation would say that we need to either help make sure people understand things like that better or we need to set acutal limits on how much people would need to put down on a house before they can qualify for a certan type of mortgage to keep them from over-extending themselves. "
This sounds a lot like the way mortgages were done before the multi-national banks, when each city had their own savings and loan.
Not everyone should own a home. Only those of us who have shown over time that we are credit worthy pepole.
Now, back to this mortgage bailout. The next tier of folks to receive some help, are the 5 million under water. I really feel for these people. These are people who's mortgages are for more than their home is worth. One more time. Their property values have fallen, and now they owe more than their home is worth.
Why? Because the housing market has collapesed; the first 4 million who were a litte too optomistic about their incomes lost their shirts.
So now, we have people who pay their bills on time and are otherwise good citizens being dragged down bigtime. This will eventually be felt all the way to the top.
I am all for helping these folks, but, for the ones who caused this, I say
NOTHING. Uncle Sam is closed.
Tuesday, February 3, 2009
My favorite gadget
Ok. So its been a while. I seem to say that each time.
Oh well.
I got to use my favorite gadget the other day. The Kenmore Vacum with the Intelli-clean system. It's awesome. It has this colored light system that I was sure was bogus, but, after hours of use, I am sure it works.
Case in point, when I was moving, I vacumed my bedroom with my vacum, then with the Kenmore. This room was an addition onto the house. After I finished with the Kenmore, there was LOTS of drywall dust that the other vacum did not pick up.
I have since used it 2x in my current location and i swear it works like a charm. This may not be the best vacum for stairts, but, wow its awesome.
Check it out!
GREATEST VACUM EVER!
Oh well.
I got to use my favorite gadget the other day. The Kenmore Vacum with the Intelli-clean system. It's awesome. It has this colored light system that I was sure was bogus, but, after hours of use, I am sure it works.
Case in point, when I was moving, I vacumed my bedroom with my vacum, then with the Kenmore. This room was an addition onto the house. After I finished with the Kenmore, there was LOTS of drywall dust that the other vacum did not pick up.
I have since used it 2x in my current location and i swear it works like a charm. This may not be the best vacum for stairts, but, wow its awesome.
Check it out!
GREATEST VACUM EVER!
Thursday, July 24, 2008
WW Day 3...MMM...FOOD
lawash 130 2.6
1/2 lawash 70 1.4
shortbread 100 2
cheese it 100 2
ultra lite 221 4.42
ultra lite 221 4.42
1/2 ultra lite 110 2.2
tuna 150 3
popscicle 70 1.4
dinner - veggies & rice 3 cups 700 14
canadian club 140 2.8
Total for day 40.24
Cal for the day 2012
1/2 lawash 70 1.4
shortbread 100 2
cheese it 100 2
ultra lite 221 4.42
ultra lite 221 4.42
1/2 ultra lite 110 2.2
tuna 150 3
popscicle 70 1.4
dinner - veggies & rice 3 cups 700 14
canadian club 140 2.8
Total for day 40.24
Cal for the day 2012
WW Day 2, The Food Strikes Back!
Heh, ok, so the food didnt strike back. Here is my Tuesday food.
chix soup 220 cal 4.4 pts
noodles 220 cal 4.4 pts
slim jim x2 200 cal 4 pts
lawash, 70 cal + 60 meat + 60 cheese 190 cal 3.8 pts
lawash, 70 cal + 60 meat 130 cal 2.6 pts
ultra combo 221 cal 4.42 pts
ultra combo 221 cal 4.42 pts
assteroids 100 cal 2 pts
2 puddings 120 + 1 100 cal cookie pack 220 cal 4.4 pts
1 popsicle 70 cal 1.4 pts
2 shots 140 cal 2.8 pts
Total for day 38.64
Cal for the day 1932
chix soup 220 cal 4.4 pts
noodles 220 cal 4.4 pts
slim jim x2 200 cal 4 pts
lawash, 70 cal + 60 meat + 60 cheese 190 cal 3.8 pts
lawash, 70 cal + 60 meat 130 cal 2.6 pts
ultra combo 221 cal 4.42 pts
ultra combo 221 cal 4.42 pts
assteroids 100 cal 2 pts
2 puddings 120 + 1 100 cal cookie pack 220 cal 4.4 pts
1 popsicle 70 cal 1.4 pts
2 shots 140 cal 2.8 pts
Total for day 38.64
Cal for the day 1932
Wednesday, July 23, 2008
WW day 1 - Monday July 21, 2008
This is my first try at the Weight Watchers diet. I did the no carb thing for 2 weeks, lost about 15 pounds, and now that my appetite is smaller, am giving this a try.
I am starting with 40 points a day, then pulling back 1 pt a week till i hit 35.
I havent weighed myself in over a week, but my last weigh in was 244. I will weigh in Wednesday.
So, Day 1 eats are:
turkey, lettice, cheese, tomato sandwhich 360 cal 7.2 pts
turkey, lettice, cheese, tomato sandwhich 360 cal 7.2 pts
Cheetos asteroids 100 cal 2 pts
yogurt parfait 160 cal 3.2 pts
popcorn 100 cal bag 2 pts
Lawash sandwhich 200 cal 4 pts
Rice 200 cal 4 pts
Peas 200 cal 4 pts
Popcorn 300 cal 6 pts
TOTAL FOR DAY: 40 points
I am starting with 40 points a day, then pulling back 1 pt a week till i hit 35.
I havent weighed myself in over a week, but my last weigh in was 244. I will weigh in Wednesday.
So, Day 1 eats are:
turkey, lettice, cheese, tomato sandwhich 360 cal 7.2 pts
turkey, lettice, cheese, tomato sandwhich 360 cal 7.2 pts
Cheetos asteroids 100 cal 2 pts
yogurt parfait 160 cal 3.2 pts
popcorn 100 cal bag 2 pts
Lawash sandwhich 200 cal 4 pts
Rice 200 cal 4 pts
Peas 200 cal 4 pts
Popcorn 300 cal 6 pts
TOTAL FOR DAY: 40 points
Thursday, March 6, 2008
missing you
I don't know your face no more
Or feel your touch that I adore
I don't know your face no more
It's just a place I'm looking for
I noticed tonight that the world has been turning
While I've been stuck here dithering around
Though I know I said I'd wait around till you need me
But I have to go, I hate to let you down
But I can't stop nowI've got troubles of my own
Cause I'm short on time
I'm lonely
And I'm too tired to talk
I noticed tonight that the world has been turning
While I've been stuck here withering away
Though I know I said I wouldn't leave you behind
But I have to go, it breaks my heart to say
That I can't stop nowI've got troubles of my own
Cause I'm short on time
I'm lonely
And I'm too tired to talk To no one back home
I've got troubles of my own
And I can't slow downFor no one in town
And I can't stop now
And I can't slow downFor no one in town
And I can't stop nowFor no one
The motion keeps my heart running
The motion keeps my heart running
The motion keeps my heart running
The motion keeps my heart running
Or feel your touch that I adore
I don't know your face no more
It's just a place I'm looking for
I noticed tonight that the world has been turning
While I've been stuck here dithering around
Though I know I said I'd wait around till you need me
But I have to go, I hate to let you down
But I can't stop nowI've got troubles of my own
Cause I'm short on time
I'm lonely
And I'm too tired to talk
I noticed tonight that the world has been turning
While I've been stuck here withering away
Though I know I said I wouldn't leave you behind
But I have to go, it breaks my heart to say
That I can't stop nowI've got troubles of my own
Cause I'm short on time
I'm lonely
And I'm too tired to talk To no one back home
I've got troubles of my own
And I can't slow downFor no one in town
And I can't stop now
And I can't slow downFor no one in town
And I can't stop nowFor no one
The motion keeps my heart running
The motion keeps my heart running
The motion keeps my heart running
The motion keeps my heart running
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