Posted 2008-10-02 11:10 AM (#92448 - in reply to #92447) Subject: RE: $700 BILLION........................................................ warning this is about polit
Veteran
Posts: 296 Location: Tennessee
Originally written by amysbean on 2008-10-02 11:04 AM
so now my tax dollars will go to bail out lots of folks living beyond their means???.
i am sure it is much more complicated than that, but still...
Posted 2008-10-02 11:33 AM (#92450 - in reply to #92447) Subject: RE: $700 BILLION........................................................ warning this is about polit
Expert
Posts: 2953 Location: North Carolina
Originally written by amysbean on 2008-10-02 1:04 PM
divide up that $700 billion among every legal american adult and, even after paying taxes on it, i could run out and go get that new trailer...
i am sure it is much more complicated than that, but still...
Greedy lenders and over-reaching borrowers... We're bailing them out.
Too bad $700,000,000,000 divided by 210,000,000 means $3,333 of hard earned money is taken from each of us.
IF we all shared equally...but it isn't !! Some have already gotten a pay-out from the loan they walked away from. Or like Franklin Raines (disgraced former head of Fannie Mae) gotten MILLION$
Posted 2008-10-02 11:46 AM (#92453 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Expert
Posts: 1283 Location: Home of Wild Turkey Whiskey
Well the only way they ould get this bucket of horseturds called a "bailout bill" to pass was to load it up with "PORK". We will now be subsidising wooden arrows from North Caroilina, and helping the folks from Alaska who were affected by the Exxon Valdez, that's right the Valdez, it happened 18 years ago. I could go on and on, but I'm to ticked off about it.
Posted 2008-10-02 11:55 AM (#92454 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Expert
Posts: 2953 Location: North Carolina
We working people need to get MAD and ANGRY.
Angry at Greg Meeks (D-New York) posturing and protecting the robbers of our efforts at providing for our family.
Posted 2008-10-02 11:57 AM (#92455 - in reply to #92414) Subject: RE: $700 BILLION........................................................ warning this is about polit
Veteran
Posts: 148 Location: South of Dallas
Originally written by DaveM on 2008-10-01 10:21 AM
This is NOT a problem started by both parties. It was the democrats who put the easy credit plans in place to help more people afford housing, and regulation oversight was kind of - ignored. The repbublicans tried several years ago to put the brakes on. Both Bush and McCain. They were literally cursed.
THANK YOU!! Thank you Dave for saying it out loud!! I work in the health field surrounded by flaming liberals all day long. My best friend is one also. Can't get her to listen long enough to even hear the "other side of the story". Everything, EVERYTHING is the fault of the Republicans and Bush!
Posted 2008-10-02 5:49 PM (#92471 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Location: Where the wind comes sweepin' down the plain...
Posted 2008-10-03 11:08 AM (#92515 - in reply to #92411) Subject: RE: $700 BILLION........................................................ warning this is about polit
Expert
Posts: 2614
Originally written by brushycreekranch on 2008-10-01 9:02 AM
Posted 2008-10-04 11:54 AM (#92570 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Extreme Veteran
Posts: 522 Location: Tucumcari NM
I am just like the rest of you. I have worked my ****** off since I was old enough to wash a window or change a diaper. I have saved and scrimped all my life so that I could afford to do things I wanted to do later. Now my retirement is threatened by folks who bought homes they knew they couldent afford, by greedy mortgage companies, by crooked politicians. We should go to the polls and vote out every single politician who does not meet out standards, but then again, they have a whole treasure chest of our money with which to buy votes. It will be an uphill battle. Maybe impossible.
Posted 2008-10-05 5:40 PM (#92616 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Expert
Posts: 2828 Location: Southern New Mexico
I want to know who came up with the idea of letting a judge not only reduce the interest rates of homes up for forclosure but also have the power to adjust the principal on those loans. I can't find the article I read on it but that pisses me off. They agreed to pay that price I don't know why they should be able to adjust the price after words. If they are going to renegotiate the contract fine, but give them a fixed rate at the price they agreed to.
Posted 2008-10-05 6:04 PM (#92618 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Extreme Veteran
Posts: 522 Location: Tucumcari NM
All the politicians jump on the bandwagon of "greedy lenders" and predatory practices. Well, yes, they are in business to make money. Aren't we all? The people who signed on for these morgages were not 12 years old. They knew that if they take home $200 a week they can't afford a $1000 a month morgage. They were adults who had choices to make. It should be up to them to live with the consequences of those choices, whatever they may be. That is, after all, what the rest of us are required to do.
Posted 2008-10-05 10:25 PM (#92639 - in reply to #92341) Subject: RE: $700 BILLION........................................................ warning this is about polit
Extreme Veteran
Posts: 316 Location: Illinois
Oddly, I believe a lot of the original reform was just to stop lenders from discriminating based on race or where they lived, not based on their credit history. I don't believe it was a free for all, lend to them no matter what. A lot of what went wrong had nothing to do with that, but predatory practices of lenders. Selling people on ARM loans when they weren't appropriate for those people. Especially now when rates are low. Yes I say rates are low. Anything under 9 percent is low. I remember a time they were closer to 20 percent. Just because some people lucked into around 5, doesn't make 6-7 percent high. I have no problem helping people that got suckered in on the ARM loans, I do have a problem giving them better rates then the people that were smart enough to get fixed rate loans on houses they could afford at the same time. Which is where I take my next point, a lot of the responsibility should be on the home buyer, as many of these people jumped on the ARM loans so they could buy more expensive houses then they actually could afford. This keeping up with or exceeding the Jones' phenomena needs to stop somewhere. One of the reasons I bought the little house I bought, heck the car I bought too, and even the truck I have now (it was 12 years old when I bought it 4 years ago, but I could buy it for cash) was I wanted to be able to afford other things, like my horses and occasional trips. I often laugh when people that all they can afford is their big SUV and house wonder how I can afford what I have. Um, didn't need a flashy house or car. Just that simple. Granted the horse thing is starting to put a strain as board has gone up significantly in the past two years, that is by November $65 a month per horse in less then 2 and a half years. I think we are just getting primed for another increase in the spring as well. Not to mention the old man's senior feed has more then doubled in less then 8 years. Ugh.
$700 BILLION........................................................ warning this is about politics.
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