Your thoughts on the Mortgage Bailout

[Cold_Zero]

Wait, maybe it is because homeboy hasn't been in office a month and he is on track to be the President that spent the most money in his term.

[Crazyirish]

Wait, maybe it is because homeboy hasn't been in office a month and he is on track to be the President that spent the most money in his term.

Meh, Inflation, and the especially the current value of the USD make that an easy leap for every new president. That aside, Bailing out banks and people who made poor financial decisions (whether as a potential homeowner or as member of a 7 figure boardroom) isn't fair at all. But what happens if we let them fail. Do we go into a worse recession (potentially much worse)? Or do we maybe struggle through the results and come out a stronger and more stable nation. I think the later is the way to go. But most people are too afraid of the unknown (although maybe rightfully so).

[ishkabibble]

Here is a perfect example of how stupid a mortgage bailout is: In my condo building in DC, I have never missed a payment on anything. There is a girl who is a year and a half behind on her mortgage and has never paid condo dues. She is always going out and is always in new, fashionable clothes. Guess who is eligible for a bailout?

People need to be accountable for getting in over their head or even cutting it too close.

[liquid_cool]

The federal governemnt has failed miserably once again. When they bailed out the banks, they did ZERO to help out the American people. They should have taken that money and paid off people's mortgages. THAT would have been a win/win situation. It would have prevented people from losing their homes and as a side effect, stimulated banking activity. Banks and lenders made poor business decisions. They made loans to people who could not afford to pay them back and I think they should have to accept responsibility for that.

hay nissangirl hows things..here is my take on this issue..

"Urban Redevelopment Act"..this is the slippery little law that the dems and bill clinton passed thou congress..and what this law did..if force banks to "Not Discriminate" against someone for income levels and or nation of Origin/leagal status....The banks were forced by congress to lend to people that you or i would have never lend $5. bucks too...this was a buy votes bill that was sighned into law..sad to say..those banks then got crafty trying to recoup there "Stolen Money"..so they packaged the morgages up as securitys and sold them off to "Fanny Mae and Freddy Mac" both institutions are run by the government..and the democratic party..if you follow the money..the democrats get millions in donations from there for elections...even thou there a government run industry..sad to say..its all a scam to fund the next round of elections in a sneeky way....the housing bill is just another way for states to "Make up Lost Property Tax Revenue"..see..when the owner pays there morgage payment part of that is state property tax..if millions are not paying there house payments then the states are not recieving " The budget Moneys" that they planned to collect...see they pre-spend our money they tax us for and its never enough...the home bailout is a mistake as it only prolongs the agony of those who never could afford a house and are going to loose it in 8months anyways...thats my 2 cents.

[liquid_cool]

Here is a perfect example of how stupid a mortgage bailout is: In my condo building in DC, I have never missed a payment on anything. There is a girl who is a year and a half behind on her mortgage and has never paid condo dues. She is always going out and is always in new, fashionable clothes. Guess who is eligible for a bailout?

People need to be accountable for getting in over their head or even cutting it too close.

he he ...isent that lady that had those 8 Babys in line to recieve morgage help too?..ohh btw..she was shopping at a mall yesterday "Nordstrom"...ironic isent it.

[AZhitman]

Here is a perfect example of how stupid a mortgage bailout is: In my condo building in DC, I have never missed a payment on anything. There is a girl who is a year and a half behind on her mortgage and has never paid condo dues. She is always going out and is always in new, fashionable clothes. Guess who is eligible for a bailout?

People need to be accountable for getting in over their head or even cutting it too close.

Congratulations.

Your terminal liberalism has been miraculously healed.

*sniff* I'm so proud... *sniff*

[AZhitman]

"Urban Redevelopment Act"..this is the slippery little law that the dems and bill clinton passed thou congress..and what this law did..if force banks to "Not Discriminate" against someone for income levels and or nation of Origin/leagal status....The banks were forced by congress to lend to people that you or i would have never lend $5. bucks too...this was a buy votes bill that was sighned into law..sad to say..those banks then got crafty trying to recoup there "Stolen Money"..so they packaged the morgages up as securitys and sold them off to "Fanny Mae and Freddy Mac" both institutions are run by the government..and the democratic party..if you follow the money..the democrats get millions in donations from there for elections...even thou there a government run industry..sad to say..its all a scam to fund the next round of elections in a sneeky way....the housing bill is just another way for states to "Make up Lost Property Tax Revenue"..see..when the owner pays there morgage payment part of that is state property tax..if millions are not paying there house payments then the states are not recieving " The budget Moneys" that they planned to collect...see they pre-spend our money they tax us for and its never enough...the home bailout is a mistake as it only prolongs the agony of those who never could afford a house and are going to loose it in 8months anyways...thats my 2 cents.

[heliochrome85]

I dont know whether to weep or cheer for 'Mer'ca...

[ishkabibble]

Congratulations.

Your terminal liberalism has been miraculously healed.

*sniff* I'm so proud... *sniff*

WAT

I still believe in a minimal "safety net", sorry.

I dont know whether to weep or cheer for 'Mer'ca... http://cache.gawker.com/assets...e.jpg

Holy cow.

[audtatious]

I dont know whether to weep or cheer for 'Mer'ca...

Same here

[szh]

he he ...isent that lady that had those 8 Babys in line to recieve morgage help too?..ohh btw..she was shopping at a mall yesterday "Nordstrom"...ironic isent it.

And, even though she is way late on her current mortgage (see http://www.google.com/hostedne...W5lvw), and her house is about to be sold, the latest news is that she is looking to buy a "million dollar house" (see http://www.foxnews.com/story/0,2933,497104,00.html) ... I guess with enough rooms to house all the kids!

Presumably, the bailout will be helping her out.

Z

[heliochrome85]

Here is something similar to what i was talking about...http://seattlepi.nwsource.com/....html

looks to me like the plan is to protect those who actually did the right thing and took loans out that they could afford vs. being stupid and buying a 600k house with 40k income.

[audtatious]

See, that number is not going to be that high. What about those who bought a 100-200k house on 40k/yr plus have two car payments and have maxed out their credit cards? THAT number would be MUCH higher and THOSE people do not deserve bailouts either.

[telcoman]

more like why is it that everyone thinks they can be an arm chair quarterback? Where was this scrutiny for the last 8 years? suddenly because Obama hasnt brought about Unicorns and pots of gold for everyone within the first month! of his presidency, he has been branded as a failure. Sounds to me like someone looking for a reason to not like the guy, vs. legitimate analysis. from the right? color me surprised.

+1

So there is something we can agree on

Telcoman

[themadscientist]

more like why is it that everyone thinks they can be an arm chair quarterback? Where was this scrutiny for the last 8 years? suddenly because Obama hasnt brought about Unicorns and pots of gold for everyone within the first month! of his presidency, he has been branded as a failure. Sounds to me like someone looking for a reason to not like the guy, vs. legitimate analysis. from the right? color me surprised.

Those damned right-wing democrats. hey wait, that can't be right.

Key measures of President-elect Barack Obama's economic recovery plan are facing a barrage of criticism from some Senate Democrats, with one charging that the plan's tax breaks were a return to "trickledown" economics.

http://edition.cnn.com/2009/PO...mulus/

Obama promised everything to the point of just short of unicorns. I expected very little from him from the beginning and am not surprised nor do I rail against him. If anything I would call all the idiots who voted for him based on a catchphrase failures and invite them to STFU and bask in the results of their misplaced faith in "hope".

I am willing to reserve judgment until he is done with on the job training.

[liquid_cool]

And, even though she is way late on her current mortgage (see http://www.google.com/hostedne...W5lvw), and her house is about to be sold, the latest news is that she is looking to buy a "million dollar house" (see http://www.foxnews.com/story/0,2933,497104,00.html) ... I guess with enough rooms to house all the kids!

Presumably, the bailout will be helping her out.

Z

i dint know about the million dollar home thing..now im fuming mad. ..what the FA-hell is wrong with these people?..they need to take all her kids from her and give them to a more mentally stable parents throu adoption and lock her up.