It is not a very pleasant thing that I do, given that every day I'm reading and writing about more and more of my coworkers and colleagues in this industry losing their jobs
This part is easy.
Step 1) Villainize the victims
Step 2) Cheer their demise
After all, thats what MSM et al have accomplished so far.
As for the quality of discussion on an internet site, welcome to the internet - where personalities meld with the Id upon touching a keyboard....
for meaningful dialogs go to itulip. this is apparently a place to vent at times. the news is awesome and up to date, kudos on that.
many threads are meaningful and productive, and fact filled, just not 100%.
I have laughed, cried, yelled, fought and come to be friends with so many people because of the meter. I firmly believe that we would not have the knowledge of what transpired over the last almost decade had it not been for Aaron, Justin and the crew here. They MADE people wake up. They MADE the media pay attention. They MADE the truth known no matter how hard the "big boys" fought it.
To everyone here I will be forever grateful for what the Meter meant as the bottom felt out. Yes, the forums are not what they were before and there is little information left in them but at one time they saved us. The main page has slowed down but that doesn't mean that this is over and I hope that the Meter is around to shine a light on the truth when it is hidden from us again. This place recorded history as it happened and that took courage and hard work. That will not be forgotten.
I don't know the staff on this site but I feel it has been very good to me!
I tell / told everyone in my industry to go on it and get an education about what our future is shaping up to look like.. . . sad,
but here we are. . . and the Implode o Meter was with us all the way. . . and all of our collegues too through this website. . .
This is a family here!! Where is Catherine?
My favorite was when I worked for one Very Large lender and the news that our former division closed up was on the Implode list before the company released the info internally.
_________________ Joel 3-25:The LORD said: "I will give you back what you have lost to the locusts"
I'm basically out of the business with a Fed Gov job now. But I still check in on the biz. I still find the "News Discussion" thread a useful aggregation of news and opinion pieces. As the crisis continues to evolve, new ways to draw in content to this site will mean continuing value as a product to the viewers and posters. Just like a mortgage company, this site needs to evolve (I too liked the political thread, even when it got out of hand).
I think these types of sites are never going to be totally civilized, and banning and restricting what folks say should be done only as the last resort. In fact, what makes forums like this of value is that they are sort of underground and way, way edgy at times.
Its when forums start to think of themselves as "mainstream" and "civilized" that they start to loose relevance. If I were asked for advice on how to run one of these sites, I'd say only ban the guys/gals who only spew pointless rage. If a threat burns out, lock the thread for new posts. But don't ban the people unless absolutely there is no other way. A site like this is "Born to be Wild"......not "Born to be Mild".
Maybe what you could do, is create an electronic penalty box. When someone gets out of hand, suspend them for say 15 or 30 days, and put their forum name in a public penalty box along with their offending remark. Maybe even let others comment about them both con AND pro!!! But even this should be used VERY sparingly.
I've learned a lot from this site. I want to give a huge thank you to the folks who had the insight to get it going. I wouldn't have come up with the idea myself. My hat is off to everyone!! The financial crisis was much bigger than just me, just as this site is bigger than just my posts. I sincerely hope I added more to the discussion than I detracted from it. In the darkest time, when my career was being blown away into dusk, this site was frequently the site where I heard stuff first. It helped me map out a survival plan. It helped me help friends..............it let me know I wasn't alone. For that I say thanks again.
Having worked in the back office for a major lender, I'll say that the impact of this site on the industry is not to be diminished.
Landing on this list meant that you were likely to lose any credit line that you had left, or bank approvals as many in the industry who make such decisions were connected. It was a lifeline (or more appropriately, a death sentence) to end up here.
My biggest issue with the site is that there has always been an inconsistent litmus test when determining who belongs on the list. The site founder lacked general knowledge on industry infrastructure and often employed a post first, remove or correct later mentality...which given the power of this site, was irresponsible.
The site now seems to have little impact and serves more as a gathering place...but definitely had a place in the history of the mortgage meltdown.
Having worked in the back office for a major lender, I'll say that the impact of this site on the industry is not to be diminished.
Landing on this list meant that you were likely to lose any credit line that you had left, or bank approvals as many in the industry who make such decisions were connected. It was a lifeline (or more appropriately, a death sentence) to end up here.
My biggest issue with the site is that there has always been an inconsistent litmus test when determining who belongs on the list. The site founder lacked general knowledge on industry infrastructure and often employed a post first, remove or correct later mentality...which given the power of this site, was irresponsible.
The site now seems to have little impact and serves more as a gathering place...but definitely had a place in the history of the mortgage meltdown.
I agree and disagree with you.
This site is evolving. Just as all activities in this industry have changed. It is still relevant if you are a seeker of knowledge, which many of us are.
Now - in the "BOO-BOOM" period when a company was imploding every hour. This site was the place to be. The place to find out the truth.
Perfect example:
This place was one of the sites that had large debates about Countrywide.
While Mozillo was on MSNBC flirting with Maria and saying "everything was fine" ----this site had Countrywide on the "ailing list". In hindsight, we knew that good ole Angelo was trying his best to prop up the stock value for as long as he could --- so he could "sell, sell, sell"
all of his stock. He had the employees fooled with that "PROTECT OUR HOUSE" B.S.
(I wonder if I can still get a bracelet on e-bay?)
I agree that many lenders were shaking in their boots when they ended up on the list....for good and for bad. But at least the employees had a place to look - while Management continued to tell them "untruths".
Quote:
September 26, 2007 – Countrywide holds a motivational conference call between Andrew Gissinger, Burston-Marsteller account leader Jason Schechter and 250 other Countrywide employees to reveal the company’s plan to fight back against critics. The campaign is dubbed the “Protect Our House” Campaign and is a confrontational offensive attack; it includes both internal and external communication elements. As part of the campaign, Countrywide employees are encouraged to sign a “Protect Our House Pledge” and to wear green wristbands reading “Protect Our House.” The transcript of the conference call is then sent to all Countrywide employees.20
Quote:
The “Protect Our House” campaign attempts to improve employee morale and dedication through emphasizing Countrywide’s social and business missions. Countrywide’s social mission, as mentioned earlier, is to help borrowers live the American dream and own a home. In the call, Gissinger states, “We’re dedicated to helping people buy homes by lowering the barriers to homeownership. Homeownership has been and will continue to be a bedrock of stability in our country and a path for everyone to achieve the American Dream.”25 In addition to a social responsibility to their borrowers, Gissinger also understands the company has a social responsibility to their employees. “We care deeply about this company, and know that this organization is very, very special,” Gissinger said. Gissinger and Schechter also understand the importance of maximizing profits for any business. Gissinger told the opinion leaders, “We’re competitive to a fault, intense, passionate about what we do and our work achievements help define who we are.” They demonstrated a positive outlook for the future by telling their employees how the company has always emerged stronger from negative shifts in the market, and that this time would be no different. “Protect Our House” also incorporates employees by getting them to pledge their loyalty to Countrywide and its goals. Employees were asked to sign a “Protect Our House” pledge, earning them a green bracelet demonstrating their commitment.
SEC Charges Former Countrywide Executives With Fraud
Former CEO Angelo Mozilo Additionally Charged With Insider Trading
Rosalind Tyson, Director of the SEC's Los Angeles Regional Office, added, "Angelo Mozilo had access to detailed and alarming information about Countrywide's operations. He knew that Countrywide was gambling with increasingly risky mortgages and he kept those details from investors while he was actively taking his own chips off the table."
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. . sad, 
and all of our collegues too through this website. . . 
