Does Anyone feel like Bailing - Page 26

lookout123 · 11-27-2008, 01:07 AM

They may not be able afford the mortgage but they can afford the rent on something else. owning a home is not a right. life sucks, but that's the way it goes.

classicman · 11-27-2008, 01:12 AM

I agree completely.

TheMercenary · 11-27-2008, 07:55 AM

Quote:

Originally Posted by xoxoxoBruce

No.

Forgot my /sarc/ tags.

TheMercenary · 11-27-2008, 08:46 AM

Interesting commentary:

Bailout costs more than Marshall Plan, Louisiana Purchase, moonshot, S&L bailout, Korean War, New Deal, Iraq war, Vietnam war, and NASA's lifetime budget -- *combined*!

http://www.boingboing.net/2008/11/25...ts-more-t.html

Pico and ME · 11-27-2008, 09:02 AM

Quote:

Originally Posted by classicman

For all the stuff they couldn't really afford in the first place?

BIG assumption there Classic. Do you know any families where both parents are working a minimum wage job? I do, and they dont have a lot.

TheMercenary · 11-27-2008, 09:04 AM

Quote:

Originally Posted by lookout123

They may not be able afford the mortgage but they can afford the rent on something else. owning a home is not a right. life sucks, but that's the way it goes.

Agreed.

richlevy · 11-27-2008, 01:13 PM

Overview

Conspiracy Theory

classicman · 11-27-2008, 09:37 PM

Quote:

Originally Posted by Pico and ME

BIG assumption there Classic. Do you know any families where both parents are working a minimum wage job? I do, and they dont have a lot.

Then they probably couldn't afford a home either. The situation as you described it is exactly what I've been referring to. How exactly can a household with two people making minimum wage think they can buy a house and maintain the payments? Especially if they got into one with an ARM.

TheMercenary · 11-28-2008, 01:03 AM

They can't and they shouldn't have. It is all about living within your means. I sure the left-wing nuts will try to come up with some reason why it is someone elses's fault and now the government should save them.

tw · 11-28-2008, 03:29 AM

Quote:

Originally Posted by TheMercenary

They can't and they shouldn't have. It is all about living within your means.

They can't and they shouldn't have. So the system once upon a time vetted all such loan applications. Bankers and loan officers where never suppose to offer loans to people who could not afford them. Deregulation. NINJA. Now anybody can get a loan because the finance industry decided that responsible mortgage offerings were no longer their responsibility. And when all those mortgages go bust, those same finance industry bankers and loan companies then go running to the government crying, "But it was not our responsibility."

Deregulation. Nobody need be responsible anymore. NINJA - what once could never happen in any bank or loan institution. How curious. Same deregulation also resulted in the Saving and Loan crisis and the "we will never make that mistake again" $220billion bailout. We blamed the irresponsible bankers for making that mess. Why not today? Everyone knows those bankers and mortgage companies are always the good guys. Rush Limbaugh now tells us how to think.

If a home owner takes out a mortgage that he cannot afford, he only has himself and a system that is suppose to protect him to blame. But then bankers put thousands of NINJA mortgages out there that completely undermine the system, do we still blame the homeowner? Of course not. Just like during the S&L crisis, we blame the people who created this mess - no matter what Rush Limbaugh says.

TheMercenary · 11-28-2008, 08:13 AM

Quote:

Originally Posted by tw

They can't and they shouldn't have. So the system once upon a time vetted all such loan applications. Bankers and loan officers where never suppose to offer loans to people who could not afford them. Deregulation. NINJA. Now anybody can get a loan because the finance industry decided that responsible mortgage offerings were no longer their responsibility. And when all those mortgages go bust, those same finance industry bankers and loan companies then go running to the government crying, "But it was not our responsibility."

Deregulation. Nobody need be responsible anymore. NINJA - what once could never happen in any bank or loan institution. How curious. Same deregulation also resulted in the Saving and Loan crisis and the "we will never make that mistake again" $220billion bailout. We blamed the irresponsible bankers for making that mess. Why not today? Everyone knows those bankers and mortgage companies are always the good guys. Rush Limbaugh now tells us how to think.

If a home owner takes out a mortgage that he cannot afford, he only has himself and a system that is suppose to protect him to blame. But then bankers put thousands of NINJA mortgages out there that completely undermine the system, do we still blame the homeowner? Of course not. Just like during the S&L crisis, we blame the people who created this mess - no matter what Rush Limbaugh says.

What does Rush Limbaugh have to do with it? Everyone gets a piece of the shit pie, estp the wantabe homeowners who now have ruined their credit for many years to come, getting in to an ARM hoping the markets never changed for the worse. No plan when it did.

tw · 11-28-2008, 10:18 AM

Quote:

Originally Posted by TheMercenary

What does Rush Limbaugh have to do with it?

If you are going to recite what Limbaugh says, at least give him credit for repeating the mantra.

TheMercenary · 11-28-2008, 10:24 AM

Quote:

Originally Posted by tw

If you are going to recite what Limbaugh says, at least give him credit for repeating the mantra.

You think I am reciting Limbaugh? You must listen to him on a regular basis because I have no idea what you are talking about. At least get your facts straight.

classicman · 11-28-2008, 10:44 AM

Quote:

Originally Posted by TheMercenary

They can't and they shouldn't have. It is all about living within your means. I sure the left-wing nuts will try to come up with some reason why it is someone elses's fault and now the government should save them.

Quote:

Originally Posted by tw

They can't and they shouldn't have. So the system once upon a time vetted all such loan applications. Bankers and loan officers where never suppose to offer loans to people who could not afford them. Deregulation. NINJA. Now anybody can get a loan because the finance industry decided that responsible mortgage offerings were no longer their responsibility.

If a home owner takes out a mortgage that he cannot afford, he only has himself and a system that is suppose to protect him to blame. But then bankers put thousands of NINJA mortgages out there that completely undermine the system, do we still blame the homeowner? Of course not. Just like during the S&L crisis, we blame the people who created this mess

I believe it was Clinton who, as stated repeatedly in other threads, started the ball rolling with the dream of "everyone should own a home. There were further decisions by Bush which further exacerbated the problem, but this is simply not all Bush's fault. Nor is it so simple as "deregulation." Greed and an expectation of businesses to have a higher moral standing instead of just going after the almighty dollar have a great deal to do with this. These are simply facts - no matter how many bad decisions Bush has made, you simply cannot lay all this on him. Congress also has a great deal of the responsibility. They all got rich and more powerful off these companies.

TheMercenary · 11-28-2008, 11:26 AM

Quote:

Originally Posted by tw

Deregulation. Nobody need be responsible anymore.

Of course not. Just like during the S&L crisis, we blame the people who created this mess - no matter what Rush Limbaugh says.

Good, so we agree it is the fault of the Dems and Clinton. I am with you.

11-27-2008, 01:07 AM	#376
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	They may not be able afford the mortgage but they can afford the rent on something else. owning a home is not a right. life sucks, but that's the way it goes. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

11-27-2008, 01:12 AM	#377
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	I agree completely. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

11-27-2008, 08:46 AM	#379
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	Interesting commentary: Bailout costs more than Marshall Plan, Louisiana Purchase, moonshot, S&L bailout, Korean War, New Deal, Iraq war, Vietnam war, and NASA's lifetime budget -- combined! http://www.boingboing.net/2008/11/25...ts-more-t.html __________________ Anyone but the this most fuked up President in History in 2012!

11-27-2008, 01:13 PM	#382
richlevy King Of Wishful Thinking Join Date: Jan 2001 Location: Philadelphia Suburbs Posts: 6,669	Video Perspective Overview Conspiracy Theory __________________ Exercise your rights and remember your obligations - VOTE! I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting. -- Barack Hussein Obama

11-28-2008, 01:03 AM	#384
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	They can't and they shouldn't have. It is all about living within your means. I sure the left-wing nuts will try to come up with some reason why it is someone elses's fault and now the government should save them. __________________ Anyone but the this most fuked up President in History in 2012!

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