[Mike 75]

Originally Posted by Matrix2791

Three things I blame. The Feds, the banks, and the people taking out the loans. I do believe if the government stayed out of this we probably wouldn't of had the mortgage meltdown that we did. The other side of the coin is people should of known their limits when applying for these huge loans. Regardless it was a huge economic mess.

I remember when my wife and I bought our condo in 2005. The mortgage broker told us we could be approved for a $1 million mortgage, no problem. Which was strange as the condo was only $300k. We politely declined.

[BPt111]

Hedge-fund tax | Republican-American

[MrGompers]

Originally Posted by BPt111

Hedge-fund tax | Republican-American

Another editorial that blames the state of CT's financial position on Govt employees. This is getting old. They also didn't publish the authors name. If I missed it can someone point it out to me ?

[BobNJ1960]

Originally Posted by BPt111

Hedge-fund tax | Republican-American

Thanks for posting that spot on article.

[Mike 75]

Originally Posted by MrGompers

Another editorial that blames the state of CT's financial position on Govt employees. This is getting old. They also didn't publish the authors name. If I missed it can someone point it out to me ?

I read the article, and it points the finger at the unions, not employees. The unions deserve the blame, along with the legislature and the governors who agreed to the benefit and comp deals that are now hamstringing CT from digging itself out of this fiscal hole. For example, just look at the speaker of the house - he is an employee of AFSCME! Can anyone say conflict of interest?

[Matrix2791]

Originally Posted by Mike 75

I remember when my wife and I bought our condo in 2005. The mortgage broker told us we could be approved for a $1 million mortgage, no problem. Which was strange as the condo was only $300k. We politely declined.

You where smart about it, but there where a lot people that would of took that million in a heartbeat.

Originally Posted by BobNJ1960

Thanks for posting that spot on article.

Agreed! The wealthy will probably most likely move their assets of CT if taxes continue to rise.

[RunD1987]

Gov confirms thousands of layoffs possible - WFSB 3 Connecticut

Don't really see the purpose of this. Known some people who were let go to return back. Then one State department told nurses can't work 40 hours any more that they'll all be cut to 32 part time hours. There was such a shortage they still picked up overtime and maintained working 40 plus hours.

[htfdcolt]

Originally Posted by RunD1987

Gov confirms thousands of layoffs possible - WFSB 3 Connecticut

Don't really see the purpose of this. Known some people who were let go to return back. Then one State department told nurses can't work 40 hours any more that they'll all be cut to 32 part time hours. There was such a shortage they still picked up overtime and maintained working 40 plus hours.

Long overdue if they can make it stick. Bureaucracy is bloated for a state of our size.

[East of the River]

Originally Posted by htfdcolt

Long overdue if they can make it stick. Bureaucracy is bloated for a state of our size.

Believe it or not we have one of the lowest numbers of state workers to population around. right around 14% with recent layoffs which puts us at the 12th lowest percentage in the US.

States Where the Most People Work for the Government - 24/7 Wall St.

[Sigequinox]

Originally Posted by Mike 75

I remember when my wife and I bought our condo in 2005. The mortgage broker told us we could be approved for a $1 million mortgage, no problem. Which was strange as the condo was only $300k. We politely declined.

Same thing happened to wife and me in 2012/13...first jobs fresh out of college making combined income of like 85k and the bank pre-approved is for nearly 500k. I laughed, since we had already done pretty extensive budget analysis. Even if we continued living our college lifestyle of Raman noodles and pirating television, that # was absurd. Even now, with twice that income, we wouldn't be able to comfortably afford a 500k house in CT. Banks are or of their mind. That under writer must have gotten his education from the Malloy School of Business.