Comments on: Senate Approves Housing Relief Bill
Legislation Aims To Save 400,000 Strapped Homeowners From Foreclosures; Bush Expected To Sign
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- This legislation is an outrage and an insult to every responsible American who lives within their means. Don''t believe for one second these borrowers didn''t know their rate would adjust. They believed the propaganda from their real estate agents that real estate always goes up and they could refinance their way to instant wealth.
Any child psychologist will tell you that whatever behavior you reward, you%u2019ll get more of it. And to reduce or eliminate bad behaviors, you either punish the behavior or ignore it. Ok, so Congress and the President reward the foolish and penalize the prudent.
The sensible and responsible should not be bailing out the reckless and foolish.
The solution to the housing crisis is lower home prices. There are plenty of people that would buy homes at lower prices. The fact is, home prices got disconnected from fundamentals and they are in the process of re-aligning with fundamentals. I can accros a nifty home price tool at www.UsHousingMeltdown.org where you can enter in zip codes to see if homes are overvalued. - Reply to this comment
- Hello Duped Fellow Americans
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Allow the Treasury Department temporary authority to lend money to Fannie and Freddie or buy their stock to avert a collapse of one or both of the mortgage giants. The authority would expire on Dec. 31, 2009.
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does this sound like free enterprise to you ?
Socialism ?
Unconstitutional ?
no, yes, and yes
freedom from failure from bad investments and poor judgement.
it must be really rosey knowing no matter how risky an investment you make, the goverment will bail you out with tax payers dollars, maybe even use social security to pay off your debts.
its called the Senate approved the theft and scandalous behavior of thousands of unscrupulious Mortgage Lenders and the fools that fell for them.
why will the Senate use tax dollars to bailout the losses of Casino and Horse track losers too ?
I don`t see how this goverment can be solvent itself much longer ?
sincerely Fuzzy Bear - Reply to this comment
- People those who made huuuuuuuuuuuuuuuge amount of money of of these real estate deals, leading to this carnage, were hand in hand with the elite. Why not these patriots talk about bringing them to justice.
Bush had to cover them than, and Bush has to cover the the broken citizens now.
I think government is doing what is the best for the current situation. Housing pulled us out of the ditch than, and this bill should pull us out now.
This MUST work. - Reply to this comment
- WERE DEAD...THIS BILL IS THE END OF OUR NATION....THEY ARE MAKING US THE LENDER OF NEARLY THE ENTIRE MORTGAGE DEBT OUTSTANDING IN THE UNITED STATES!!!!!! THE ONLY THING LEFT TO DO IS WRITE TO BUSH!!!! HE MAY YET SAVE SOME PART OF HIS PRESIDENCY IF HE STOPS THIS BILL!!!! HE MUST HE MUST STOP THIS BILL!!!! THIS BILL IS MURDER!!! HE MUST STOP THIS BILL.
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- This is in effect a bail out of the entire financial industry''s losses!!! THEY ARE MAKING THE AMERICAN PEOPLE THE HOLDER OF ALL POSSIBLE RISK IN THE MORTGAGE INDUSTRY!!!!!!! UNBELIEVABLE....I SWEAR TO GOD THIS IS GROUNDS FOR A REVOLUTION!!! IT REALLY IS...IT PROVES THAT THIS GOVERNMENT IS OWNED BY A FEW PEOPLE WITH GREAT AMOUNTS OF MONEY AND THEY IN FACT CONTROL BOTH SIDES OF THE AISLE!!!! THIS IS TREASON!!!!!! TREASON. THEY HAVE BETRAYED THE AMERICAN PEOPLE!!! THEY SHOULD NOT GET AWAY WITH THIS!!!! THEY ARE MAKING US THE FALL GUY!!!!!CRIMINALS!!!!
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- Ahh yes, another Democrat sponsored WELFARE fund.
Yippee........I think I will go file for FOOD STAMPS, since I won''''t have any money left to buy food when my taxes go up to pay for this mess. Thanks Demoroids.
Posted by anniegirl50 at 07:20 PM : Jul 26, 2008
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Hold on, honey! You seem to be conveniently overlooking a couple points:
1. First, several years of Bush & 110th GOP-controlled Congress total lack of regulation AND oversight CAUSED this mess! THEY were committed to giving HUGE tax refunds to the wealthy, while spending money on credit ---to the Chinese.
2. If you earn under $200,000 a year (approximately), your taxes won''t go up that much. If you''re a multimillionaire, it''s about time you pay for the ''free ride'' you had under Bush!
3. This bailout sucks! The lending officials ought to be held criminally responsible for their actions. While congress can''t let millions of people lose their homes and go on to the streets, make no mistake about it---this bailout is more for business than it is out of concern for the great ''unwashed''!
4. The begrudging manner the GOP drags its feet on this, adds ''insult to injury'' to THEIR mess! - Reply to this comment
- In effect this bill is making the finance industry''s problem and LOSS, YOUR PROBLEM AND YOUR LOSS!!! ASTONISHING!!! JUST UNBELIEVABLE THAT THESE PEOPLE HAVE DONE THIS!!!! I THINK ITS TIME FOR A NEW GOVERNMENT RIGHT NOW...WHERE DO THE PEOPLE GO IF THEY ARE UNHAPPY WITH PRESENT GOVERNMENT AND ARE NOT GIVEN THE ABILITY TO VOTE FOR A GOVERNMENT THEY DO WANT? OUR GOVERNMENT IS GARBAGE
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- Bout time the House relieved itself. If it has been listening to the ''i'' word, it is full of that sort of thing one always wants to be relieved of.
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- Ahh yes, another Democrat sponsored WELFARE fund.
Yippee........I think I will go file for FOOD STAMPS, since I won''t have any money left to buy food when my taxes go up to pay for this mess. Thanks Demoroids. - Reply to this comment
- I agree with you Patriot. Who is going to pay for the other credit mess? The fancy cars, and loans on all the furnishings for these houses that we now have to pay for. I want my piece of this pie also. I don''t want to pay for somebody elses financial blunder so they can live in their upscale house while I pay the debt for this mess with my tax dollar all the while I am living in my 1500 square foot house that I MAKE THE PAYMENTS ON
Since when have Americans not been responsible for knowing what they''''re signing on the dotted line?
Greedy people who thought " I want that big home now and I''''ll worry about my payments going up later!"
Now we all have to pay for their stupidity and you say that''''s a good thing? I know it "might" calm the markets but as a citizen who''''s paid my own mortgage for 20 yrs., this is not acceptable. What''''s next? Are we going to have to pay their car loans and credit cards off too?
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Posted by patriot_tx1 at 03:25 PM : Jul 26, 2008
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- I want to buy a 650,00.00 house that I cannot afford the payments on so I can get the tax payers to pay for it. This is ***. The rest of us taxpayers who don''t own houses that cost this much money are going to be paying for these idiots to live in a higher priced home than we live in ourselves. This is just a bunch of Democratic bull ***.
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- I want to buy a 650,00.00 house that I cannot afford the payments on so I can get the tax payers to pay for it. This is ***. The rest of us taxpayers who don''t own houses that cost this much money are going to be paying for these idiots to live in a higher priced home than we live in ourselves. This is just a bunch of Democratic bull ***.
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- This is not a Republican Approved Bailout. This is a deal brought about by the Democrats in the House and Senate. That is where this bill has come from. Stop blaming this *** on the Republicans.
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- Easist way to stop this from happening when a company is to big to fail.
BUST THEM UP.
Did you see that it would be best for America and capitilism. Don''t argue neo cons you are way over your heads on this one. - Reply to this comment
- More Republican-approved bailout.
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- It''s easy to say the government shouldn''t bail out people who fell for the shell game by dishonest mortgage companies. The problem is if the government does nothing, thousands of people would foreclose, which would bring down all of our home values! In fact, in the long run , it may cost more in long run to do nothing , than the cost of government intervention now.
The big problem is figuring out a way to keep this from happening again! - Reply to this comment
- Everybody''s up to their eyebrows in debt, so the bankrupt federal government thinks they should borrow their way out of it? All we have here is broke people writing bad checks to other broke people. NONE OF THIS DEBT WILL EVER BE REPAID.
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- I was smart and paid my little home off years ago. I guess I have now been cheated out of all these funds because I did not go out and buy a home that I could not afford. Where is my piece of this pie?
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- Isn''''t it amazing how much good work gets done in an election year, and how much bad stuff or nothing gets done in the off years?
Posted by arakaczky
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Since when have Americans not been responsible for knowing what they''re signing on the dotted line?
Greedy people who thought " I want that big home now and I''ll worry about my payments going up later!"
Now we all have to pay for their stupidity and you say that''s a good thing? I know it "might" calm the markets but as a citizen who''s paid my own mortgage for 20 yrs., this is not acceptable. What''s next? Are we going to have to pay their car loans and credit cards off too? - Reply to this comment
- Isn''t it amazing how much good work gets done in an election year, and how much bad stuff or nothing gets done in the off years?
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