OT rant: bank of America

[Peter]

You're confusing co-occurrence with causality. Texas has energy resources (natural gas and oil) which kept their overall economy and specifically their housing market relatively healthy over the past 4 years even when many of their other economic sectors declined a similar amount to the rest of the county. Nothing to do with regulation. It's the same reason Russia was able to stay financially afloat with far less pain than western Europe. By your analysis, you would expect Russia to be far less regulated than western Europe. In fact, it is much more regulated.

[Kurt Ullman]

Texas Foreclosures Listings (Texas State Foreclosure Laws)

Foreclosures in Texas increased in 2009 over the prior year. There was a total of 100,045 properties with foreclosure filings. That works out to a rate of one filing for every 94 households, which compares to the United States average of 45, and is a little more than one percent of the state's housing units.

So, their foreclosures were almost twice the national average, but they weren't doing all that bad?

[trader4]

Based on the numbers you give above, isn't the TX rate HALF the national rate?

[N8N]

Surprisingly, while I've had issues with some large companies (I'm looking at you, Verizon) but I've really had no issues w/ BoA other than them jacking up my CC rates from what were admittedly astonishingly low a few years ago.

[Han]

" [e-mail]" wrote in news: [e-mail]:

That seems right to me, trader. I have no time to search for the reference now (family emergency), but I distinctly recall having seen a proud Texan quote what I said.

[Kurt Ullman]

You're right, mea culpa. Trying to do math before coffee...

[Stormin Mormon]

Good perception.

Christopher A. Young Learn more about Jesus

.

No, but then I haven't dealt with BA for about 10 years now. I thought they were crooked LONG before the melt down proved it.

[krw]

Good grief, "flipping" was a symptom of the problem, not the problem. Regulation, or the lack of, had nothing to do with the differences between FL and TX.

[Larry W]

Personally, I'd rather that banks and financial institutions pay a few hundred thousand $ more every year than to have the taxpayers bail them out at a cost of hundreds of billions.

[Harry Johnson]

Don't just talk about it, do it!

[Gordon Shumway]

I totally agree that the bail outs are definitely wrong with a capital "W." My point is that the problem stems from over regulation of not only the financial institutions but virtually everything in this country. The less government involvement the better for everyone.

[krw]

Why are you telling me that? I have never had an account with those thieves. Though, if the OWS crowd is boycotting anyone, it's a good enough reason to do business with them.

[Stormin Mormon]

Especially when the govt is pushing stuff like universal home ownership, universal health care, universal diversity, and, and and ......

Christopher A. Young Learn more about Jesus

.

I totally agree that the bail outs are definitely wrong with a capital "W." My point is that the problem stems from over regulation of not only the financial institutions but virtually everything in this country. The less government involvement the better for everyone.

[Douglas Johnson]

Texas had its real estate bust in the 80's. Like the more recent nationwide bust, it was driven by too much easy money. The savings and loan deregulation allowed them to make lots of junk loans. Folks went to jail.

But we didn't have the boom in prices that other areas did in the most recent debacle. I don't think state regulation had anything to do with it.

-- Doug