High Praise
We have been receiving the journal for years and I’m very grateful. I want to compliment you for your great journalism that keeps Orange County informed.
John Tu
President
Kingston Technology Co.
Fountain Valley
No Sympathy
Someone needs to start reporting that the “millionaires” who are losing their homes,Evander Holyfield and Ed McMahon,have nobody to blame but themselves. Holy cow. If I had made the kind of money either of these men have, I would have stopped working. At 62, I am still working. But my bills are paid and I am comfortable in my own (almost paid for) home. With all of today’s bad news, I’m still earning a living and owe very little to anyone. My kid goes to private school. I drive a new Lexus and live decent. I am not a multimillionaire.
Arrogance and a sense of entitlement, conditions that overpaid celebrities acquire, are the reasons for their condition. Their dilemma was caused not by Bush, the economy or anything else other than their false pride and insistence upon living over their heads. We all have to be adults and act responsibly. These folks did not.
Let’s put the blame of home loss where it belongs: on the people who borrowed against the only investment that should not be used as a bank. Further, those who purchased their homes with no money down and are losing them with no equity have no grounds to complain. Buying a home with interest-only loans and no equity is no different than renting. These folks are assuming the value will always go up. Well, geeeeee, it doesn’t always.
Barry M. Gold
Irvine
