Stop Florida Real Estate Speculation

.The Palm Beach Post came out with an editorial about the recent comments Governor Crist and his beach buddies made, regarding how it was time to invest in Florida real estate. Remember . . . they just lost $250 million in a New York real estate deal, so these guys are not the best to decide on investing in Florida real estate.

And this is the same group that lost $682 million in the mortgage fiasco with Lehman. All told, Governor Crist and his beach buddies lost more than a BILLION dollars. The Palm Beach Post points out that too many of these "deals" are made with friends of friends, and made by chumps like Crist who will not be around when things fall apart.

In closing the editorial, The Palm Beach Post notes that it would be wrong for Crist and his beach buddies to artificially pump up Florida's real estate market.

I will take the flip side for a moment. I think there are deals to be made, but I don't think the State of Florida or their Bankster advisors have any clue or any interest in making good deals. They simply want to make deals that will benefit other Banksters in the club . . . as is evidenced by the BILLION they lost on just two deals.

And no one goes to jail!

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