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Sun 2 Sep, 2007 09:45 am
I'm not sure why people continue to listen to Bush and believe what he says. Bush said after Katrina: "We will stay as long as it takes."(to reconstruct New Orleans).
They are still waiting.
Why should the govt bail out these homeowners at all?
The lenders knowingly took the risk,and the people that got those sub-prime loans were all credit risks anyway.
The loans came about because people wanted "affordable housing" and the lenders wanted to make money.
Should the govt bail out everyone that makes a bad decision and loses money on a loan?
Why is it the govts responsibility to bail you out when you cant pay back the money you borrowed?
They shouldn't, but Bush has this one right - for a change - that's if he keeps his word, which isn't too reliable. It should be some help by extending the loan period, and forgiving the penalties on late payments until some specified time - like 6 months to one year. If they don't shape up by then, they'll fall where they wlll, because those people over-extended themselves. People must take some responsibility for their own fiscal management even if loan sharks helped them get into those loans.
The reason I came to this opinion is based on the fact that if we can spend 2.7 billion every week in Iraq, we can certainly help our own citizens some.
cicerone imposter wrote:The reason I came to this opinion is based on the fact that if we can spend 2.7 billion every week in Iraq, we can certainly help our own citizens some.
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Totally unrelated issues!
Unless there was fraud on the part of the lender, the govt has no business bailing individuals out of dumb decisions, especially in Calif!
cicerone imposter wrote:woiyo wrote:cicerone imposter wrote:The reason I came to this opinion is based on the fact that if we can spend 2.7 billion every week in Iraq, we can certainly help our own citizens some.
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Totally unrelated issues!
Unless there was fraud on the part of the lender, the govt has no business bailing individuals out of dumb decisions, especially in Calif!
Ofcoarse it's a related issue; Bush wants to fund both which means the deficit will grow.
Well, obviously I believe Bush is WRONG, again!
Ofcoarse you're not wrong by stating: Totally unrelated issues!
cicerone imposter wrote:Ofcoarse you're not wrong by stating: Totally unrelated issues!
that is correct. How does the so called war become a relavant issue to the "credit problems" of individuals.
Usually children act that way...."you did it for johnny now do it for me"
Are you a child?
Don't bail out lenders or unwary home owners. Lets see how big of a tail spin we can put this economy in.
parados, Many people do not understand economics. Without credit, our economy will certainly take a nose-dive.
Come on guys. The bailout isn't for homeowners. Its for the big lending institutions. The fact that it helps some homeowners is a secondary effect that isn't a primary concern of bush or the government.
rabel, You might be right, but without available cash in the market place, our economy will take a nose-dive.
Just imagine if nobody could borrow to buy homes, remodeling, cars, and big ticket items in our economy.
mysteryman wrote:Why should the govt bail out these homeowners at all?
The lenders knowingly took the risk,and the people that got those sub-prime loans were all credit risks anyway.
The loans came about because people wanted "affordable housing" and the lenders wanted to make money.
Should the govt bail out everyone that makes a bad decision and loses money on a loan?
Why is it the govts responsibility to bail you out when you cant pay back the money you borrowed?
Exactly. Protect borrowers and lenders form reckless decisions, you will continue to get reckless decisions.
C.I.'s points are taken, but the practices in question will continue till it hurts the people making them.
roger, There is a balance in which the government should intercede, and I'm not sure what that level is. However, I look at this issue from the standpoint of our total economy that must continue to have credit available in order that our economy survive. I just don't believe in throwing out the baby with the bath water because mistakes were made. Depressing our economy will also hurt the innocent people. It's also for selfish reasons by our government; unless our economy remains strong enough, tax revenue will drop, and everybody losses.
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