Entrepreneurs should not be Demonized - Just another day in the mortgage mess

I listened to President Obama's Press Conference last night. The one thing I liked was President Obama pointed out that we cannot demonize entrepreneurs who seek to make a profit.

I hope Jaime Dimon, at JP Morgan Chase bank, heard this press conference last night because he has demonized mortgage brokers, who are Entrepreneurs. Mr. Dimon shut down his bank's wholesale division because he seems to blame this mess on mortgage brokers. Not all mortgage brokers are demons. I hope Mr. Dimon will come to realize that having a wholesale division can help increase productivity for his bank, not just result in losses. As long as the bank has proper risk management in place, then working with mortgage brokers seems manageable.

Note: New home sales were up in the month of February. The Commerce Department said sales rose 4.7 percent to a 337,000 annual pace, the fastest increase since April last year, from an upwardly revised 322,000 in January.

Here is a quote for the day: "If a man empties his purse into his head no one can take away from him. An investment in knowledge always pays the best interest". Benjamin Franklin

With that said, when shopping for a home, please educate yourself.

Stay tuned...I have more to share. Just another day in the mortgage mess!