Clinton Selling a House She Doesn’t Own?
Comments: (0) Written by: Duane LeGate Date: March 12, 2008There are certain things you are not supposed to discuss in polite company. Religion is one. Politics is another. I know this—really I do, but indulge me for a moment while I dabble in the Democratic presidential race for just a moment (this really is just too good to pass up).
We know the mortgage crisis has become ubiquitous as of late, but it really says something when a tabloid journalist can use “the subprime mortgage mess” as an analogy, and the readers clearly know exactly what he means. We’re not talking about the high-brow readership of the New York Times or the Wall Street Journal—no, we are talking about the readership of the New York Daily News.
Michael Goodwin, a Pulitzer Prize-winning columnist for that tabloid newspaper, used a subprime mortgage analogy in his March 10th column titled “Hillary and Bill push idea of Clinton, Obama ticket for third time in a week.” Here’s what Goodwin wrote:
“[I]n the Clintons’ pitch,” Goodwin writes, “she is on top of the ticket and Obama is her No. 2. That’s rich of her, considering that Obama leads in both the delegate race and the popular vote. Forget those pesky voters—Hillary has declared herself the winner!
“Shades of the subprime mortgage mess there. She’s like a con artist trying to sell a house she doesn’t own. Based on the votes so far, she should have suggested herself as the vice presidential running mate.”
Now rest assured I’m not saying anything about whether a Clinton-Obama ticket is a good idea or not (regardless of who’s on top), but I am saying that the usage of the subprime mortgage crisis in the public lexicon is telling. The reason this website and blog will be viewed by so many people each day is because so many Americans have been personally touched by this crisis. Goodwin was operating on the same knowledge.
Whether you are a distressed property owner or someone involved in foreclosure investing, you understand exactly what Goodwin is saying. The real estate industry is, unfortunately, full of con artists trying to sell houses they don’t own. In my opinion, the only real way to combat this spiraling crisis is by empowering you with knowledge—knowledge of how to rebuild your financial stability by getting out from under a mortgage you can’t afford and knowledge for investors that can help rebuild America one home at a time. That’s what this site is all about.
At any rate, I’m far from convinced we should leave it to the presidential candidates.
