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| | | From: drew b | Sent: 10/7/2008 7:05 PM |
Yeah, cuz George Bush was personally holding a gun to every deadbeat loser's head, DEMANDING they take on a mortgage way beyond their means...
He may be the worst President we've ever had, and he has THOUSANDS of mistakes to answer for. However, I don't believe that this is one of them. He didn't create the culture of entitlement that tells people they get to enjoy all the trappings of prosperity whether they can afford them or not... |
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It was not just deadbeat losers taking out mortgages. It was your neighbors, good people. The mortgage companies and the banks were approving them, so they were just as stupid. These so-called deadbeat losers had no idea that the value of their properties was going to plummet so fast in the Bush economy. Bush approval rating is down to 25%. hard to beleive that 25% of the country is still standing behind this nutjob. |
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| | | From: drew b | Sent: 10/8/2008 7:29 PM |
Approximately 5% of the people who took out sub-prime loans have defaulted on them. The other 95% -- the responsible, careful, rational ones are the good people. The 5% whom I am calling deadbeat losers made a mistake. It was THEIR mistake, regardless of what the mortgage companies were offering them. The consequences for that mistake is losing their house. They need to take that consequence and shut the f*ck up!
If I buy a Lamborghini and don't make my payments, they're going to repossess the car. Period. So what that I couldn't afford it to begin with and they never should have given me the loan?! Do you think that under those circumstances, they should let me KEEP the Lamborghini? Hell, no! That's just bull$h*t!
And anybody with half a brain could have told you that the housing market was due to drop. Yeah, we didn't know it would plummet so far so fast, but nobody should be surprised that it has gone down. None of that would matter, though, if only people had planned purchases where they could afford the payments. The actual current VALUE of the property only matters if you have to sell it. If these people hadn't bought beyond their means, they wouldn't have to sell, and could keep living there and making their payments until property values go back up. |
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But something else was amiss here, drewsome. Do you think that 2006 2007 was the first time any "dummies" would have jumped at the chance to own their own homes? This didn't happen during the Clinton administration! They took the BAIT, so there had to be a FISHERMAN! |
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ARM's have been around since the 80's. Subprime's have been around since at least the mid 90's. Sure there is a FISHERMAN ... however, it does not excuse the consumer for biting off more than they could chew. They KNEW the monthly mortgage payments would go higher at some point in time. If they were baited ... only makes them more the fool that should have known it was all to good to be true. This is not rocket science. |
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| | | From: drew b | Sent: 10/9/2008 1:14 AM |
Ditto to what Hootie said. To use my Lamborghini analogy again, don't you think that if I walk by a Lamborghini dealership, that they would like to sell me a car? If I express ANY interest, don't you think they will do everything within their power to see to it that I get the financing? Does that make it THEIR fault if I stupidly buy a Lamborghini I can't afford? No way! I'm the one who is responsible for knowing my finances. I'm the one who is responsible for knowing what payments I can and cannot afford. Therefore, it is up to me and NOBODY ELSE to make the right decisions!
What I hate about your point of view, FTJ, and that of most liberals, is that it assumes that people are stupid and incompetent and need to be taken care of. I have a bit more faith in them. Yes, there are people who are stupid and incompetent, but I think part of the reason why they are so stupid and incompetent is because they are never held accountable for the stupid, incompetent things they do! If they're never going to be blamed for doing the wrong thing, then why should they be motivated to put in the extra effort to do the RIGHT thing? |
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What I hate about YOUR point of view is that you think that people do the wrong thing ON PURPOSE.
Only REPUBLICANS do the wrong thing on purpose, because they don't understand the trickle up theory. When the mortgages do south so does the stock market!
When he thought home values were rising, Bush was taking bows for getting so many people into new homes. Now suddenly he had nothing to do with it?
And there's a lot more going on here than some mortgages going bad. Pension funds are in the toilet for the next 12-15 months. Meanwhile the fat cats are at the Ritz Carlton nursing their wounds, which are merely superficial.
The real problem with this country is PARTISAN POLITICS! Republicans refusing to wake up when they see what a mess they've made of things. |
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And as for stupid people.....65 % of the country has HUGE credit card debt! The whole damn COUNTRY is living beyond its means.....and the trickle up theory is showing its ugly head !!!
But as Bush's words to the wise declared :
LET'S GO SHOPPING !!!! |
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| | | From: drew b | Sent: 10/9/2008 7:43 AM |
I don't think they do the wrong thing ON PURPOSE. I just think that if they never have to face the consequences for their OWN MISTAKES, they will never stop making them!!!
My very smart friend who recognized that she couldn't afford the mortgages being thrown at her during the housing boom (and who is therefore still living in her dinky apartment instead) is LIVID over the idea that the government is going to step in to save any of these people. Why should THEY get to own homes for making bad decisions and she doesn't get to own one for making the right decisions? Shouldn't we reward good behavior and punish bad behavior rather than the other way around?
I agree with you about the partisan politics, though. However, MY problem with partisan politics is that it allows/forces politicians to forego making wise choices that are right for the country because they are too busy trying to appease their parties. Parties, I might add, which depend for their very existence upon keeping us out of the center, and instead veer too far to the right or left. Honestly, without the Democrats going to the left and the Republicans going to the right, they are no longer differentiated from one another and they cease to exist! What possible incentive can they have to compromise in the middle when to do so would jeopardize their very existence?
Guess what, stupid parties? Most people are much closer to the center in their philosophies, and the country would be much better off if policy was aimed there rather than to either the left or the right just to maintain an artificial two-party system! |
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If this was mention sorry, I didn't read all the post. But wanted to add my 2 cents about alot of these morgage forclosures before I head off to work. We sold and purchase during that housing boom. Well anyway the banks offered us that varible loan and knowing what it did we turn them down, and of course got a fixed rate. We did alot of research before hand. But one of the main problems, there were alot of home flippers who did take that loan, trying to buy and sell to make a quick buck. And then the housing boom just stopped and they got stuck with houses they couldn't afford. I gotta go, Im going to be late, but bottom line it is both the people and the banks fault for these bad loans. |
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P.S. I never said we should bail out the people who got into a home beyond their means. All I said was that they are not the only ones to blame for this mess, or I should say, rather, these many messes. |
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....and I wonder WHO'S gonna get rich now buying up all these empty homes. Will this end up just being another way that the rich get richer off the poor? |
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Oh gawd Fins .... don't do that. Palin annoys the sh*t out of me. Is she looking for Mr Puddles too? If Palin had a clue ... the world would stop turning...... Back to my NASCAR picks for Charlotte.  |
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