Comments on: Fed Cracks Down On Deceptive Lending

Central Bank Approves Plan That Strives To Thwart Practices That Fueled Credit Crisis

[bogusbones]

too little, far too late. the problem with this administration from day one was to allow the economy to run without any oversight from agency regulators. cut the budgets, the markets will take care of themselves. bunk!!! too many people get hurt and after the fact, the marketing machine goes into action saying we won''t let this happen again. the problem is they could have prevented this entire economic fiasco but as usual - a few rake in the cash and many now face a life of misery. FORECLOSURE NOTICE - SMALL RANCH IN CRAWDADDY TEXAS COMPLETE WITH A COWBOY CLOWN.

[caldwellptr]

Personally I believe going to a loan shark over a bank is better .... at least the loan shark knows your name and you know you will get personal one on one service.

[kissamaarse]

Why is it that when the American government is socialistic and bails out big businesses with our tax dollars, the conservatives are all for it? But when there is even scant talk about universal health care, the conservatives go nuts over "socialized" medicine. Why?

[noloyalisti]

Typical, blame the individuals for the unholy alliance between the big corporate mortgage lenders and the government (it''s called fascism by the way).

Like blaming the soldiers for dying for oil, you must at some point realize the extreme propaganda that falls on us everyday from the war profiteers and marketers.

[drivelphobe]

erasmus81...

Thank you. Do you have any suggestions for improvement? At my age, it is difficult to recall some of the vocabulary from the past.

I don''t suppose you have any of these thieves in Canada. The USA is filled with opportunistic individuals who scream they were cheated when things go awry. Most of the borrowers in this area were scheming, lying, deceitful people taking out loans they shouldn''t have qualified for. The bailout is a major error in my opinion.

Have a nice day.

[erasmus81]

drivelphobe

"It''''s just the "poor me" mentality like the Katrina "victims", entitlement seeking scumbags sucking on the taxpayers'''' teats."

You have such a way with words.:)

[drivelphobe]

Shady lenders only deal with shady borrowers. They should all go down together. No one took out any loan they didn''t understand. They are all crooked, attempting to get some kind of deal. It''s just the "poor me" mentality like the Katrina "victims", entitlement seeking scumbags sucking on the taxpayers'' teats.

[sistatee-2009]

Wasn''t it the government that forced banks to lend to people (mostly the inner city, but not always) that the banks would otherwise have rejected for mortgages?

[credibility2]

The government should also crack down on individuals who think that just because they breathe air that they''re entitled to getting a loan for a home when they have an atrocious credit history and questionable finances. The government should also crack down on stupid individuals who entered into these loans without benefit of legal counsel specializing in loans, mortgages and real estate acquisitions. The lenders are just part of the problem. The other major part rests with the ignoramuses who thought they deserved to get a loan in the first place with their dismal and questionable financial and credit histories.

[aldon61]

mcvet,

can you carry on an intelligent conversation without calling people names. i know all about ARMs. my parents had one in the seventies. their rate went from
5% to 17%. they had to struggle and work extra jobs but they overcame because they cut back and didn''''t drive new cars, wear new clothes, eat out and all the other things our generation thinks we can''''t do without. That''''s not fascist! That''''s hard working!!!


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Posted by blessed1959 at 04:18 PM : Jul 14, 2008

Huh? MCVet hasn''t posted on this site.