Comments on: House Passes Homeowner Rescue Bill

President Drops Opposition To Law Granting Government Aid To Homeowners And Lenders

[txlakeside]

Did anyone notice this ....

And it increases the statutory limit on the national debt by $800 billion, to $10.6 trillion. ????

Bend over repubs .... You are going to have to pay me back somehow! Your less GOV is good GOV is such a sham!

[txlakeside]

The only way this would be fair is to limit Freddie and Fannie to loans that they were originally created for .... low to middle income families.

The last 8 years they have raised the max to over $600,000. That is way beyond the original low to middle! Freddie and Fannie are now GOV handouts to those who do not deserve it! They ahev recently tried to raise it to over $700,000. If you bought a $700,000 home and can not pay for it now, tough! You should have bought a middle income house like the rest of us!

I say do not bail any of them out and let the cards fall where they may! We have built an economy on a speculative bubble and now we want the GOV to put a patch on the bubble. It will still be a bubble!

[forrestlayne]

Wait until you find out all the hidden stuff that was passed in this 600 page bill. As always only 1 is going to tell the truth!
Ron Paul...
http://www.youtube.com/watch?v=KC9q2tK06nE

[sistatee-2009]

Whew! For a minute there I thought the CEO''s of Freddie and Fannie would have to give up their villas in Spain, their yachts at anchor in Monaco, their childrens'' educations at Yale and Harvard, their multi-million dollar pensions, and their holdings in numbered Swiss accounts.

[whitemale08]

Does the government owe you a living wage? Is that the role of government?




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Posted by donbl1 at 08:10 PM : Jul 23, 2008--

You da** right the government owes me a living wage.

I didn''t ask to cut precious tax revenue to give away to the 2%.

I didn''t ask for the Rockerfellars and JP Morgan to create the Federal Reserve System which is a socialist system for the rich.

I didn''t ask to pay through inflation for this mafia hit on Saddam for some nerve gas that Ronald Reagan and Rumsfield sold to him.

You da** right, the more Repulicans believe "defecits don''t matter" the more us working stiffs demand higher wages and cradle to grave care.

How dare you ask me a question like that?

How dare you!!!

[eddom949]

Might as well reinstate the Homestead Act, why are we sticking all taxpayers with the bill for the covenant between borrower and lender? There seem to be rental properties and other options such as clean up your own neighborhood, improve your own property, or move (no really it''s not that bad)...

[stn_sage]

I''d make the following comments:

1. Many, but not all of foreclosed homeowners don''t deserve to be rescued. It was their greed that got them into it, and a declining economy that pushed them over the edge!

2. Most of these lending institutions should be SEVERELY restricted and regulated following this bailout. The lenders KNEW what they were doing, and they chose to do it!

3. The article doesn''t make it clear that Homeowner Rescue bill is the actual title of the legislation, but if it is, it should be retitled to Big Business Bailout bill, which more accurately reflects what''s really going on here!

[donbl1]

Does the government owe you a living wage? Is that the role of government?

[seafang]

The way I understand the tax code, any forgiveness of a debt, becomes ordinary income in the year that the debt is forgiven.

So hopefully, these idiots will at least get taxed on their windfall income at the expense of other taxpayers who didn''t buy more house than they could pay for.

Let me guess; Congress will amend the tax code to forgive these people the taxes on their windfall profits.

I can see asking the lenders to extend the repayment period, while these people are short on income; of course with continued accrual of interest owed; but I''m totally against any forgiveness of debt.

The banks that made these ridiculous loans would have to simply wait to collect their money, since they aided and abetted this economic foolishness.

[hypnotoad72]

Pay a living wage and watch the economy take off.

Posted by curse914
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They do. Just not in America anymore. :P

[seafang]

So it isn''t my fault that these greedy people bid up the price of their houses way beyond their market value, and then found they couldn''t ever pay for them.

How do you expect them to ever learn any basic economic principles, if they aren''t ever allowed to fail.

How about a bail out for the overburdened taxpayers, who have to cover these fools.

[donbl1]

Cursed, it depends on where you live.

In most of the country, unemployment is still low and houses are stable.

If you live in a Blue state, you probably have a problem.

[lovegetpeace]

Posted by ontheleft at 07:30 PM : Jul 23, 2008

It is the brightest Corporate and Economic Capitalist Intellectuals that screamed for this intervention from the government. Do not blame the government going in without an formal direct invitation from the private sector.

Viva la Socialismo!

[sistatee-2009]

At $15 million a year, the CEO''s of Fannie and Freddie aren''t exactly sharing the pain, are they.

[ontheleft]

More inane legislation from the federal government complete with a laundry list of giveaways that all the lobbyists wanted.

House prices should not be artificially propped up by the government. It''s just going to drag out the recession even further.

[lovegetpeace]

THIS IS CAPITALISM AT IT BEST - BRAVO!

[stick1770]

If an asteroid hits America that is one thing, but just being plain stupid is another. Next thing you get is a study saying stupidity is a disease and that you can get diability for the disorder.

The economy will reset and things will correct prices to where they should be and people will start rebuilding their credit and buying homes at the "right" value. This will just take time. But everyone is so afraid of waiting it out and want instant results. Typical.

[rap5657]

Big Mac=Bush

[stick1770]

what happens when home prices go back up and the homeowners gain hundreds of thousands of dollars in profit because the bank forgave the overage??? Now we are making it profitable for losers once again to reap profits of the taxpayers backs. If your so stupid as to take out a $500,000.00 loan on a $35k income then you need to put out on your a55. The governments job is not to jump in and save idiots. People need to learn that there are consequences to your actions. Some how everyone thinks the government is the ultimate back up for screw ups. Build on a river and get flooded out...help me! Build on a cliff and get a landslide...help me! build in a forest and get burned out...help me! build on an ocean and get a hurricane....HELP ME! You make decisions and you take risks. That is part of life. The government is not here as the ultimate insurance policy.

If people get some of the money forgiven on a loan, they should have a lien put on the property for the amount forgiven and paid back to the government/bank when they sell it down the road. There should be no profiting from this bill.

[noloyalisti]

The rich corporate owned government plan: received a voucher so you can go to Wal-Mart for a new tent for your family. They were made here but now come from China.

Honestly, who do these fascists think they are fooling.