One Hundred Four: Realtors

One of the principal factors in keeping ethical and professional standards high in various occupations is setting up barriers against entry into the profession. Usually these barriers take the form of educational requirements. Doctors, lawyers, accountants, clergy, all have strict education requirements without which one cannot enter the field. The easier it is to get into a profession, the more sleaze bags and incompetents you get. Take for example, realtors.

Nowhere is the idiot factor more obvious than in real estate. Every housewife or failed car salesman is a "real estate professional." In my thirty plus years of buying and selling real estate, and practicing real estate law, I have run across maybe three good realtors. Most of them don't even know how to pronounce the word (they usually say "real-la-tor").

As this is being written, I am trying to help my son buy a condo to qualify for the Obamaramadama $8K tax credit. Unfortunately, we have to deal with realtors representing (or misrepresenting) sellers. In all cases thus far, the realtors have been total morons, incapable of understanding the most rudimentary basics of real estate transactions, let alone more exotic deals such as short sales.

I wish some of these ersatz professions would have some stricter requirements about whom they let in.

One Hundred Three: Government Jobs And Pay

First of all, why do people go to work for the government? The main reasons are benefits and job security. Everyone agrees that the benefits are fantastic. And how many government workers do you know who have been fired? Probably very few, if any. You have to be a real screw-up to be let go by the government. Mediocrity to incompetence is not only tolerated in government work, it is encouraged. So to get fired, you have to be outside that range. In fact, the occasional well-qualified government employee probably has a better chance of being fired than the typical under-qualified. If you're smart and know what you're doing, it would be difficult to function and exist with a bunch of morons. You would stick out like a sore thumb, and make everyone else look bad.

Second, why do government employees appear to be paid more than private sector counterparts? Maybe because the pay HAS to be higher in order to even get people to apply. Have you ever watched the faces of people going to work at government offices? They look like they're going to an execution. At some level, these people know they are existing in positions which provide no value (other than to themselves alone) to society, have no positive impact. They are a drain on the economy, rather than a contribution. And once a person is entrenched in a government career, they are unlikely to ever to advance in positions of authority and responsibility. They will get cost of living increases, but will never get the structural increases which come from career advances. In other words, their station in life will never change.

One Hundred Two: Stupid Bankers II

I have credit cards with very high credit limits. I use them for purchases like cars, and other big ticket items. These purchases tend to be infrequent, for obvious reasons. The other day, I received a notice from Citigroup informing me that since I was not using my entire credit limit, the limit would be decreased. I have never had a late payment. My credit score is above excellent.

By reducing my limit, Citigroup is telling me it wants me to do less business with them.

This is exactly the kind of brilliant banking which contributed to Citigroup losing $28 billion in 2008.

One Hundred One: Stupid Bankers

Today I went to my local commnity bank (Barrington Bank & Trust, an operating unity of Wintrust Financial, a Nasdaq company), to talk about a mortgage loan for my son. There is no way my son would qualify for a mortgage on his own, so I offered the young man at the bank a deal. I said, "How about if I deposit an amount in a CD equal to the amount you loan my son. The CD would be kept by the bank as security for the loan." The young banker (Dennis, I think), proceeded to give me a lecture on "loan-to-value" Fannie, Freddie, and FHA. Had young Dennis bothered to ask a few questions about me, he would have easily found out that I knew as much or more about mortgage banking as he did. Unfortuantely for him (and his employer), he assumed he was possessed of all mortgage banking knowledge known to man, and that I was an idiot. Actually, he seemed pretty typical of most bankers I meet these days.

One Hundred: IRS Priority

Statement of IRS Commissioner Doug Shulman Regarding the Austin Incident


Feb. 18, 2010

Like most Americans, I am shocked by the tragic events that took place in Austin this morning. This incident is of deep concern to me. We are working with law-enforcement agencies to fully investigate the events that led up to this plane crash.

My thoughts and prayers go out to the dedicated employees of the IRS who work in the Austin building. We will immediately begin doing whatever we can to help them during this difficult time.

While this appears to be an isolated incident, the safety of our employees is my highest priority. We will continue to do whatever is needed to ensure our employees are safe.

Somehow, I thought the "highest priority" of the IRS would have been the most efficient administration of the United States tax code. But it turns out that safeguarding the interests of the U.S. taxpayer is not at the top of Mr. Shulman's list.

Ninety Nine: BO Gives More Money To Losers

"President Barack Obama is expected to announce plans Friday to provide an additional $1.5 billion to a state-assistance program for homeowners worst hit by the downturn in U.S. housing values."

The above quote is from today's WSJ online version. The article mainly highlights BO's trip to Vegas with Harry Reid to prop up Reid's desperate attempt to keep his welfare job in the Senate. But the sheer stupidity of the idea of giving more money to people who have already demonstrated an utter inability to manage or invest assets is what blows me away. Now if BO was giving away HIS OWN MONEY, it would be a totally different story. I'd say, bully for him, going around being a charitable guy. But he's giving away taxpayer money to a bunch of losers who should never have owned homes in the first place. This is BO's idea of "stimulus." Take taxpayer money which otherwise could have been invested in private sector jobs which will in turn generate tax revenue, and send it down a government sewer.

Ninety Eight: Smart Like A Fox Or Dumb As A Post

Had BO and the Dems passed a health care plan prior to the Massacre in MA, they would have been annihilated in the November mid-term elections. As it is, BO is now free to withdraw the health bill which ONLY Dems supported, and instead come up with something much smaller which perhaps a handful of Republicans can support. Whether by accident or on purpose, the MA result has saved BO's ass, for now.

What BO and his folks have not noticed, or are intentionally ignoring, is that most votes in November of 2008 were not cast for Obama; they were cast against Bush. The majority of Americans don't want an explosion of government. They just want government to defend the borders, give us safe food and medicine, and then stay the hell out of our lives.

At the beginning of his reign, King BO had goodwill galore. He had supporters who ordinarily would not support a Dem, especially one who had no experience at doing anything except making speeches and leeching off his wife's income. He took all that support and interpreted it as a sign from the heavens that he was "special," and could remake the world according to BO.

In BO's mea cupla with Stephanopolous last night, I still didn't see any humility. I don't think he's capable of having any.