roger wrote:It's really for the lenders. Maybe they should be taught that it's okay to lose their assets. Otherwise, they'll learn that it's okay to make shoddy loans.
I agree with Roger. It's a bail-out for the lenders and the mortgage people.
I'm kinda torn on this one.
On the one hand, I completely understand the desire for "justice." They, both the lenders and borrowers, made their own beds.
On the other hand, I understand that plunging housing prices aren't good for for the nation as a whole. A house is the biggest investment most folks make their whole lives; having it lose 30% value, through no fault of the owner, can be really painful. It has more effects than just financial, too.
From a practical standpoint, I see this mostly as a safety net for housing prices. Some folks will not get what they "deserve," but then again, I'm damn glad I haven't always gotten what I deserve....
DrewDad wrote:I'm kinda torn on this one.
On the one hand, I completely understand the desire for "justice." They, both the lenders and borrowers, made their own beds.
On the other hand, I understand that plunging housing prices aren't good for for the nation as a whole. A house is the biggest investment most folks make their whole lives; having it lose 30% value, through no fault of the owner, can be really painful. It has more effects than just financial, too.
From a practical standpoint, I see this mostly as a safety net for housing prices. Some folks will not get what they "deserve," but then again, I'm damn glad I haven't always gotten what I deserve....
I understand your being on the fence. The problem would never have happend if it weren't for lack of oversite. They were pushing through those subprime loans as if you applying for a grocery card for savings at the market-- easy as 1, 2, 3. No credit checks, nothing.
DrewDad, I must disagree with your analysis; the growth in the value of our homes were based on the "speculation" of home values to continue its upward spiral. Much of the gains through the most recent years were just that; unrealistic gains. The mortgage companies together with banks used fraud to allow those not qualified to buy homes. What we see now is the bust after the boom. That old saying, if its too good to be true, it usually is. Reality is now setting in.
The feds should not reward the mortgage companies and banks with a bailout. Those who bought homes who couldn't afford it must also take responsibility for their own financial mismanagement. It's about personal responsibility.
cicerone imposter wrote:It's about personal responsibility.
Which only applies to some people-- others get a free hand.
Gala wrote:cicerone imposter wrote:It's about personal responsibility.
Which only applies to some people-- others get a free hand.
Nobody should get a free hand; investor, bank, mortgage company or home buyer. Government has no business bailing out irresponsibility.
I think c.i. is a closet Republican.
Bush ain't.
Shooter, thanks for the sig...
maybe people will realize that money is a failure when it comes to end game management of societies.
Rockhead wrote:
Shooter, thanks for the sig...
Whatever floats your boat. I've said all along Bush is no conservative. The fact that he pisses the liberals off so much just shows how far left they've really gone.
shooter, my idjit friend, how many times I gotta tell you.
I am not a liberal.
You keep trying to pigeonhole me, Ima start lightin' you up more...
The Great White Buffalo...
Someone on NPR yesterday was saying that it was not a bailout for those that can't pay / bought more house than they could afford. The money will go to rewrite loans for those that can pay, just not at the higher rates that kicked in after a few years.
Also, not all of the foreclosures are due to people getting loans for homes they couldn't afford and mortgage companies not running credit checks.
Look at the previous page where Arnold layed off 22,000 people and reduced others pay to minimum wage. Look at Starbucks closing down stores, losses by the major auto makers, etc. Job growth is down, 50,000 jobs lost last month if I remember the number correctly from the other day.
I wouldn't be for a bailout either if it was as simple as it sounds on this thread. But, I don't think that's the whole story.
hopefully america wakes up after its economy was almost destroyed.
lets try to be more like Zimbabwe!
YEAH!!!
squinney wrote:
Look at the previous page where Arnold layed off 22,000 people and reduced others pay to minimum wage.
You ever been stuck in line at the DMV while the chimptards behind the counter went to get lattes? Minimum wage is way too good for them.
You are right. I'm sure that all of the people being put at minimum wage or losing their jobs are latte drinking DMV scumbags.
I hope your license is current. Might have a longer wait than normal now.
For the record, minimum wage workers can't afford lattes...
Good. Maybe they'll stay on the job.
cjhsa wrote:squinney wrote:
Look at the previous page where Arnold layed off 22,000 people and reduced others pay to minimum wage.
You ever been stuck in line at the DMV while the chimptards behind the counter went to get lattes? Minimum wage is way too good for them.
Shooter, you are really starting to piss me off...............
Why are you afraid of the poor and downtrodden?
Are you truly as dense as you put forth?
Ima send you a sheet with eyeholes, just cuz I'm thinkin' it fits...
KMA
http://au.youtube.com/watch?v=KIw3YJuxLKc
Lucky for you, your head is made out of rock.
And yer a LeBaron, buffoon...
Go ask daddy for some more money...
http://www.youtube.com/watch?v=T3bht7S-3vI
