[Twilight]

Cops are sub-prime, guys. You can bet your ass the humble public servant is going to get well and truly fucked. Same goes for any other local government employee who bought into the dream of affording a lifestyle beyond their income. Now I don't know about you, but when it comes to it, I don't want my life to depend on the judgement of someone undergoing personal trauma.

[shortonoil]

frankthetank said:

$this->bbcode_second_pass_quote('', 'H')ere is just more proof! The writing is on the wall. Detroit is another good example, and just the other day they were rated the worse city for crime or some shit like that. Poor people to stupid things because they have no other choice or they're just bored because they have nothing to do. A lot of people can't handle "free time".

[billp]

$this->bbcode_second_pass_quote('', 'H')ere in Portland, the police have stopped investigating property crimes. You can call in to report your stolen car, your vandalized house, etc. but they won't send anyone to investigate.

[Fishman]

More guns, more accidentally killed children from those guns, more right wing skwalking.

Ian, old liberal thinking. Yes to your comment, but more dead criminal also. Go back to your history book, perhaps a little Jamestown justice. Still a trial of your peers, but first conviction was generally a branding, second conviction, the noose. Less need for jails (also unsustainable without lots of resources).
The question now arises, when does it become politically correct to start shooting back? Better buy you guns and ammo before the reign of Hilleary

[Starvid]

$this->bbcode_second_pass_quote('Leanan', 'S')ome criminals are not very smart.

[aflurry]

$this->bbcode_second_pass_quote('Eli', '
')And Aflurry if you think we have torn up the earth and misused it just wait until PO really gets going. We are going to burn anything we can.

[Jack]

LOS ANGELES, California (CNN) -- The foreclosure problems sweeping the United States apparently have ensnared Ed McMahon, who is best known as Johnny Carson's sidekick on "The Tonight Show."

ReconTrust reportedly filed a notice of default related to a loan for Ed McMahon's house.

The Wall Street Journal reported Tuesday that McMahon was $644,000 in arrears on a $4.8 million loan for a home in Beverly Hills, California.

McMahon's spokesman, Howard Bragman, confirmed to CNN late Tuesday that McMahon is in discussions with his lender and hopes to find a resolution.

The newspaper reported that ReconTrust, a division of Countrywide Financial, filed a notice of default related to a loan for McMahon's house in Los Angeles County Recorder's Court on Feb. 28. It said his house has been on the market for about two years.

Nationally, one of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to recent figures from RealtyTrac.

There were nearly 650,000 foreclosure filings -- which include notices of default, auction sales and bank repossessions -- issued during the first quarter of 2008. That's up 23 percent from the last quarter of 2007, and up a staggering 112 percent from the same period a year ago.

Foreclosures increased in 46 states and in 90 of the nation's 100 largest metro areas.

More than 156,000 families have lost their homes to bank repossessions this year.

LINK

[vision-master]

That old fart is about 85 now.

SELLER: Ed and Pam McMahon
LOCATION: 12000 Crest Court, Beverly Hills, CA
PRICE: $6,750,000
SIZE: 7,013 square feet, 6 bedrooms, 5 bathrooms
DESCRIPTION: Ed McMahon's private Mediterranean Estate, in the Prestigious Beverly Hills Gated Community, The Summit, can be yours. This once in a lifetime offering is full of charm and character. The foreign imported doors and meticulously chosen fireplaces are unlike any other. The Master Suite with his and hers baths and closets, overlooks the yard and sweeping canyon.

[grampybone]

One more rich bastard that can't manage their money right. Boo Hoo. With the money he made on the Carson show and his commercial endorsements, He should be a multi millionaire. Why can't he pay his mortgage?

[basil_hayden]

Is this the home that was so full of mold that it was killing him?

Yeah, great buy....

[Jack]

Um-hmm.

If those in the high income and high net-worth brackets are getting hit, what does it say about the mass of people?

What does it say about the housing market in general?

As I mentioned before - this canary may be singing an interesting tune.

[dinopello]

McMahon has notoriously had drinking and money problems ever since he came into the public eye. It was a running joke on Carson's show. Mostly, it indicates just how slack the loan standards are when a person so well know for mismanaging his finances gets a loan for that much. And, yes that is a problem.

[Ivan_M]

$this->bbcode_second_pass_quote('Jack', 'U')m-hmm.

If those in the high income and high net-worth brackets are getting hit, what does it say about the mass of people?

What does it say about the housing market in general?

As I mentioned before - this canary may be singing an interesting tune.

[smallpoxgirl]

What do you want to bet he showed up at the bank with one of those 8 foot long Reader's Digest Sweepstakes checks and tried to pay the loan?

[DomusAlbion]

$this->bbcode_second_pass_quote('vision-master', 'T')hat old fart is about 85 now.

[Ayoob]

Gee. Ed's 85, his wife is 54. I wonder what happened to the money?

And if you read the article, he lost a lot of his money in previous divorce settlements. I think he could probably have used his $200 million in real estate to keep gas in his Escalade.

This has nothing to do with peak oil. Canary? Holy shit.

Reality is

-------------------------------------------------------->
that way.

[Denny]

I guess even millionaires have to be careful with their money. So many times seeing Ed on all his commercials, I have mentally cussed him out for being so greedy, having so much money and taking work from others who may need it much more. I guess it never dawned on me that McMahon was doing this out of necessity.

I was similarly surprised back in March, in visiting Florida, to see so many seniors (age 55+) condos being foreclosed. You'd think by that age, people would have paid off all their debts.

I remember the old mutual fund commericals which promoted using the slogan "Freedom 55". Geez, I am almost to that age, and I am still working, and likely will for another five years. But, at least I got myself out of all debts about twelve years ago.

Debt free = freedom.

So many peope in the land of the free have voluntarily shackled themselves to their belongings. So many have houses which own them, rather than the other way around. I'd way rather have a little bungalow owned outright than a palace that I have fret about affording, wondering what kind of mortgage rate I'll be forced with next time around.

[vision-master]

$this->bbcode_second_pass_quote('DomusAlbion', '')$this->bbcode_second_pass_quote('vision-master', 'T')hat old fart is about 85 now.

[DomusAlbion]

$this->bbcode_second_pass_quote('vision-master', 'Y')ou dissing me or what?

[Dreamtwister]

So I guess he was only rich, not wealthy.