<p>Hi Barron,
Personally, this whole financial crisis should never have been allowed to happen in the first place. I could not believe how those at the top would be so incompetent to place large bets on those subprime loans to begin with. This crisis is just as bad as the Dot.com bubble that began around a decade ago. Around 2003-2005, I started to notice a lot of housing units being built around my area, when in the past 20 years, there was very little development. When I saw entire areas land that was undeveloped for years suddenly gets built up overnight while existing units are vacant, I became alarmed by the rapid growth that might build itself into a prolong recession. I wondered where was all of this money coming from because I had never seen such a huge building boom on a large scale in my life. All building activities in South Florida comprised of Townhouses and condominiums. But single family homes were very rare. They charged so much and provide so little square feet of space. The commercial units comprised mostly of shopping malls and car dealerships. I once asked myself, “do we really need so many of these things alongside the existing areas?” This was something that was going to cause a lot of problems for years to come because of the over development that was allowed to take place by the developers who were looking to make a fast buck while the financial institutions were backing them up wholeheartedly.</p>