"A government large enough to give you everything you want is also large enough to take away everything you have"... but that was just some archaic white slave owner saying that so who cares.
I would have much more respect for President Obama if he would just come out and tell us that he hates the Constitution (of which he knows nothing) and he can override anything Congress does. This strong arming of banks, who I do not deal with anyway, is so thuggish, it seems we have the first Black and first rapper President all-in-one. We are all part of the twilight of Pax Americana, the only way to recovery is deep budget cuts, increased taxes, and increased interest rates, which will kill the economy and erode further the lack of trust in the Federal Government since they always find ways to irresponsibly spend any revenue they get their greedy little pawns on at any given time regardless of party. I get a chuckle when I hear die-hard politicos speak of this as some great occurrance for the "Middle Class" home-owner, since few home-owners will see any of this money. There will be a paltry sum thrown at home-owners paid for by future generations, just like the "popular" payroll tax cut (hint: no SS for you under 45). That $25B was spent before the ink was dry, and it ain't going to home-owners (unless they vote Democrat that is ;>)
What crime?? Expecting some one to make their loan payments...Martha if you have some extra money laying around I would like to borrow some cash..O yea don't expect me to repay you..
Where are the corrupt politicans who pushed the banks into making loans to the people who could not afford them? Where is Fannie May and Freddie Mac they were as complicit as the rest?
Banks developed subprime loans all on their own. Banks aggressively recruited su-prime borrowers and signed them up to no doc, adjustable rate mortgages. The banks knew those loans were likely to fail so they bundled them into investments that the banks marketed as AAA, safest investments and sold them to suckers. To make even more money the banks bought credit default swaps that would pay the banks money when the same mortgages the banks sold failed.
As we have recently learned, the only politician who pushed Fannie Mae and Freddie Mac to buy subprime loans was Newt Gingrich.
sounds like a bailout for people who bought more house than they could afford, a bailout for the greedy. people who did the right thing, bought within their means or less are being hosed. wonder if there has ever been a potus that was more bailout happy than obama?
What about those of us who have paied their mortages regurlary but now the home is worth 60% of the buying price, how do we get relief? Are you telling me to stop paying my mortgage so I can qualify for this money?
These are the people who borrowed 120% more than there house was worth,, OUR government forced banks to do the loans (which almost all americans had lunches knowing this would fail, because, jeez even kermit the frog had a clue),, BUT Dodd was still in power and once his dumb idiot idea, which gave him millions of dollars, don't forget the millions, it was billions,, once that idea stopped, he just decided to make it the "problem of the people". Once Frank Dodds got "caught " in this scheme, he had the option of bailing out.
When they borrowed their homes were worth more. Housing values dropped greatly because they had been artifically inflated by banks who made more money the higher the value of the loan. The banks worked out a scheme where they would make money regardless of whether the mortgages defaulted.
No one also reported on the fact that the "fees" are gonna be paid by the mortgage holders which is almost all pension and 401K holders. This isn't being paid by the banks, which it shouln't be since our government forced all these mortgages. THIs is being paid for by ALL YOU IDIOTS that save for retirement. Get a clue people... get a clue
They have robbed the entire country of almost a trillion dollars and they make a no go to jail pact for less than 25 billion dollars. They need to start dragging some of these hedge fund and derivative dealers out in leg irons.
Fact: Banking Industry out of control, thanks to BOTH parties greed to pay back Big Business Who Put Them In Office.
Fact: Americans are normal, greedy people who will take what isn't regulated so they can't... Result: SOME, NOT ALL, people bought more house/land than they could afford.
Fact: Responsible Americans, because of the same "Representatives" watching out for them in Washington, (frigging joke), lost their houses due to job loss -- AND the most self-serving, corrupt and UNREGULATED banking industry in US history.
Fact: "Label Makers" are happy to quack about partisanship and let America slowly sink like the Titanic.
Fact: Greedy Americans still pi$$ and moan about loosing more house than they could afford.
Fact: Responsible Americans who lost their homes because of corrupt Banks or US Representative (Congress) pathetic lack of job performance take it bent over yet one more time.
Please, one more yahoo for your favorite "party" (oxymoron) and one more "bend over, America" for the 99% with no lube.
I know there were unscrupulous loan agencies who did encourage people toward risky loans, interest only loans, and five year loans with increasing payment amounts year by year. So I really do think reckless and greed was going into this process with no regulation and with no oversight. Think what you want and be as foolish as you want. Banks and loan agencies were not acting as saintly as you republicans want to believe.
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I would have much more respect for President Obama if he would just come out and tell us that he hates the Constitution (of which he knows nothing) and he can override anything Congress does. This strong arming of banks, who I do not deal with anyway, is so thuggish, it seems we have the first Black and first rapper President all-in-one. We are all part of the twilight of Pax Americana, the only way to recovery is deep budget cuts, increased taxes, and increased interest rates, which will kill the economy and erode further the lack of trust in the Federal Government since they always find ways to irresponsibly spend any revenue they get their greedy little pawns on at any given time regardless of party. I get a chuckle when I hear die-hard politicos speak of this as some great occurrance for the "Middle Class" home-owner, since few home-owners will see any of this money. There will be a paltry sum thrown at home-owners paid for by future generations, just like the "popular" payroll tax cut (hint: no SS for you under 45). That $25B was spent before the ink was dry, and it ain't going to home-owners (unless they vote Democrat that is ;>)
As we have recently learned, the only politician who pushed Fannie Mae and Freddie Mac to buy subprime loans was Newt Gingrich.
"caught " in this scheme, he had the option of bailing out.
Fact: Banking Industry out of control, thanks to BOTH parties greed to pay back Big Business Who Put Them In Office.
Fact: Americans are normal, greedy people who will take what isn't regulated so they can't... Result: SOME, NOT ALL, people bought more house/land than they could afford.
Fact: Responsible Americans, because of the same "Representatives" watching out for them in Washington, (frigging joke), lost their houses due to job loss -- AND the most self-serving, corrupt and UNREGULATED banking industry in US history.
Fact: "Label Makers" are happy to quack about partisanship and let America slowly sink like the Titanic.
Fact: Greedy Americans still pi$$ and moan about loosing more house than they could afford.
Fact: Responsible Americans who lost their homes because of corrupt Banks or US Representative (Congress) pathetic lack of job performance take it bent over yet one more time.
Please, one more yahoo for your favorite "party" (oxymoron) and one more "bend over, America" for the 99% with no lube.