A New Foreclosure Wave Hits The Jobless

CBS Evening News: People With Traditional Mortgages Who Have Lost Their Jobs Are Now Facing Foreclosure

(CBS)  There's a new wave of foreclosure sweeping across the country, and the people who are getting swept up are not greedy investors, or people who got in over their heads with bad loans, reports CBS News correspondent Ben Tracy. Rather, the crisis is hitting home for those who never expected to be in trouble until the slumping economy put them out of work.

As a code enforcer, Judy Jones' job was to make sure foreclosed homes, often trashed by owners on their way out the door, got cleaned up. With a government job, good credit, and a 30 year fixed rate loan on her southern California house, Judy never planned on taking her work home.

But last month she was laid off, joining a new wave of homeowners who paid their mortgages on time but now can't because they're out of work.

"The foreclosure crisis began mostly as a problem for lower income households," says Mark Zandi of Moody's. "It is now a problem for all households: low, middle income and even higher income households."

More than 2 million prime mortgages, traditional loans for people with good credit, are now delinquent. That's 624,000 more than this time last year, according to the mortgage bankers foundation, Tracy reports.

"We didn't necessarily expect the distress levels that we are seeing at this point," says economist Mark Fleming.

It used to be if you couldn't afford your mortgage you could always try to refinance or sell your home and pay off your loan. But these days, for a lot of people, those options no longer exist.

That's because 12 million households now owe more than their homes are worth, according to Moody's.

Homeowners with risky adjustable rate mortgages are getting help from banks, but there are no programs to aid those who already have good loans but no jobs.

"I wake up in the middle of the night thinking about it," says Terri Osier, a struggling homeowner.

Meanwhile, Judy Jones is hoping her bank will lower her payments until she finds work.

"If they don't, I'm not going to drain my savings, I am not going to drain my 401k, I am going to walk away," Jones says.

[crazyivan32]

haha losers my home is paid off
Posted by markjessup1 at 11:31 PM : Nov 28, 2008


But apparently you''re morally and socially bankrupt.

[whitemale08]

I feel so sorry for people who have been duped by junkyard dogs like Sean Hannity and Rush Limbaugh who said that the Bush economy was FANTASTIC,

and when Donald Rumsfield was asked by Congress on war financing in Iraq, he told them: "We have the money and that''s what the money is for...".

Now reality clears away the heavy fog of debt-based prosperity and leaves in its wake the devestation of a Bush/Hannity/Limbaugh-Depression.

It''s sad folks, really sad.

[deckardbr]

Not that we haven''t been warned; October 5, 1988, vice presidential debate. Senator Lloyd Bentsen: "You know, if you let me write $200 billion worth of hot checks every year, I could give you an illusion of prosperity, too."

[wardoglrs]

Dr Paul tried to wake the people of this very danger...
The American is asleep and if they don''t wake up it will be even worse.
Your so called paper money is phooey and counterfeit it has no value that''s why the world is pulling away from lending to America. Listen to your forefathers they have your interest in mind in every way.

Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master... George Washington

As the economist Dr. Stuart Crane was fond of saying, %u201CThings [in the monetary world] don%u2019t just happen to happen. They happen because they were planned to happen.

"None are more hopelessly enslaved than those who falsely believe they are free."
~Johann Wolfgang von Goethe.

[wardoglrs]

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature''s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
Declaration of Independence, July 4, 1776

[wardoglrs]

When the last dutiful & humble petition from Congress received no other Answer than declaring us Rebels, and out of the King%u2019s protection, I from that Moment look%u2019d forward to a Revolution & Independence, as the only means of Salvation; and will risque the last Penny of my Fortune, the last Drop of my Blood upon the Issue.
George Mason, October 2, 1778


The sacred rights of mankind are not to be rummaged for, among old parchments, or musty records. They are written, as with a sun beam in the whole volume of human nature, by the hand of the divinity itself; and can never be erased or obscured by mortal power.
Alexander Hamilton, 1775

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the bread stuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank...You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out."- Andrew Jackson

[centerfall94]

Wow. Thanks Bush. Thanks neocons! You''ve REALLY TRASHED THINGS THIS TIME.

Fortunately you''re soon to be OUT OF POWER.

[wardoglrs]

%u201CWith the exception only of the period of the gold standard,all governments of history have used their exclusive power to issue money to defraud and plunder the people.%u201D - Friedrich Von Hayek
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. Thomas Jefferson

"Paper is poverty,... it is only the ghost of money, and not money itself." Thomas Jefferson to Edward Carrington, 1788


President FDR (on Fascist rule in a letter to corporate con man %u201CColonel%u201D Edward M. House, a founder of the Council on Foreign Relations and political fixer for the ruling class. House also handled President Wilson for the foisting of the privately rigged %u201CFederal Reserve%u201D Corp bank monopoly. 11/21/ 1933)

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson, Letter to Treasury Secretary Albert Gallatin (1802)

[wardoglrs]

%u201CWith the exception only of the period of the gold standard,all governments of history have used their exclusive power to issue money to defraud and plunder the people.%u201D - Friedrich Von Hayek
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. Thomas Jefferson

"Paper is poverty,... it is only the ghost of money, and not money itself." Thomas Jefferson to Edward Carrington, 1788


President FDR (on Fascist rule in a letter to corporate con man %u201CColonel%u201D Edward M. House, a founder of the Council on Foreign Relations and political fixer for the ruling class. House also handled President Wilson for the foisting of the privately rigged %u201CFederal Reserve%u201D Corp bank monopoly. 11/21/ 1933)

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson, Letter to Treasury Secretary Albert Gallatin (1802)

[wardoglrs]

When all government, domestic and foreign, in little as in great things, shall be drawn to Washington as the center of all power, it will render powerless the checks provided of one government on another, and will become as venal and oppressive as the government from which we separated - Thomas Jefferson

During times of universal deceit, telling the truth becomes a revolutionary act."
George Orwell


"The real rulers in Washington are invisible and exercise power from behind the scenes." -- Supreme Court Justice Felix Frankfurter,1952

Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives. -James Madison

%u201CThe end of democracy and the defeat of the American Revolution will occur when government falls into the hands of [private cartel] lending institutions and moneyed incorporations.%u201D
President Thomas Jefferson (a founder of America in condemnation of present and future monopoly money power. 1743-1826)

[wardoglrs]

When all government, domestic and foreign, in little as in great things, shall be drawn to Washington as the center of all power, it will render powerless the checks provided of one government on another, and will become as venal and oppressive as the government from which we separated - Thomas Jefferson

During times of universal deceit, telling the truth becomes a revolutionary act."
George Orwell


"The real rulers in Washington are invisible and exercise power from behind the scenes." -- Supreme Court Justice Felix Frankfurter,1952

Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives. -James Madison

%u201CThe end of democracy and the defeat of the American Revolution will occur when government falls into the hands of [private cartel] lending institutions and moneyed incorporations.%u201D
President Thomas Jefferson (a founder of America in condemnation of present and future monopoly money power. 1743-1826)

[wardoglrs]

"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question." Thomas Jefferson: 1st Inaugural, 1801.


Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives. -James Madison


"Men by their constitutions are naturally divided into two parties: 1. Those who fear and distrust the people, and wish to draw all powers from them into the hands of the higher classes. 2. Those who identify themselves with the people, have confidence in them, cherish and consider them as the most honest and safe, although not the most wise depositary of the public interests. In every country these two parties exist, and in every one where they are free to think, speak, and write, they will declare themselves. Call them, therefore, Liberals and Serviles, Jacobins and Ultras, Whigs and Tories, Republicans and Federalists, Aristocrats and Democrats, or by whatever name you please, they are the same parties still and pursue the same object. The last one of Aristocrats and Democrats is the true one expressing the essence of all." ~ Thomas Jefferson to Henry Lee, 1824. ME 16:73

[wardoglrs]

"Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the form of kings to govern him? Let history answer this question." Thomas Jefferson: 1st Inaugural, 1801.


Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives. -James Madison


"Men by their constitutions are naturally divided into two parties: 1. Those who fear and distrust the people, and wish to draw all powers from them into the hands of the higher classes. 2. Those who identify themselves with the people, have confidence in them, cherish and consider them as the most honest and safe, although not the most wise depositary of the public interests. In every country these two parties exist, and in every one where they are free to think, speak, and write, they will declare themselves. Call them, therefore, Liberals and Serviles, Jacobins and Ultras, Whigs and Tories, Republicans and Federalists, Aristocrats and Democrats, or by whatever name you please, they are the same parties still and pursue the same object. The last one of Aristocrats and Democrats is the true one expressing the essence of all." ~ Thomas Jefferson to Henry Lee, 1824. ME 16:73

[wardoglrs]

%u201CWe will have world government whether or not we like it. The only question is whether world government will be achieved by conquest or consent.%u201D
James Paul Warburg (monopoly banker in testimony before the US Senate Committee on Foreign Relations. Warburg was an agent of the Rockefeller-JP Morgan-Rothschild banking bloc and son of Paul Warburg, chief architect of the %u201CFederal Reserve%u201D Corporation, an unconstitutional private bank monopoly set up for cartel hegemony. February 17, 1950)

"Control oil and you control nations; control food and you control the people."
Henry Kissinger (ex U.S. Secretary of State and ongoing agent for the ruling class. Living. Quote 1970)

[perk235]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.
Posted by WarDogLRS at 01:55 AM : Nov 29, 2008
----------------
Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn''t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

[shanev137]

Is this really news or a shock to anyone?

Shouldn''t have let the Republicans do whatever they wanted for 8 years.

[ramos937]

There are several factors to blame for this mess - the homeowner who let himself/herself be fooled, the lenders who got greedy and the government for not enforcing existing laws and regulations.

There are some remedial steps that need to be taken immediately: (1) most homeowners cannot either pay or keep up with payments so they are out financially. (2) lender shareholders have to take a big hit. The lenders abandoned good sound lending practices and that is it, (3) The government needs to enact legislation mandating that lenders cannot foreclose until they can legally document the steps they have taken to avoid foreclosure. And these steps have to be substancial.

[fredflinsto2]

I for one have a back up plan. It is called maxing out my credit cards to get cash advances and then writing it all off in a BK if necessary. I have a 5.25% rate and have always paid my bills and find it incredibly rediculous that people who did not pay their bills and are getting lower rates than mine through modifications. I will not lose my house, if I do, it will be an empty shell and possibly a pile of ashes before I move out.

[wl7bzh]

Posted by WarDogLRS at 01:55 AM : Nov 29, 2008

Has August987 changed his sign in ID again?

[torva-2009]

Posted by Hackerpc at 08:29 AM : Nov 29, 2008

You are not paying attention...de-pegging against the dollars has already happened...Chinese Yuan was depeg about two years ago, likewise the so did many of the Persian Gulf national currencies...this happen when oil prices - which is valued in dollars hit the roof. The Euro has never been pegged to the dollars.

Yet commodity prices, especially mineral, oil, metals have don''t risen but rather have fallen in value. And likewise as the recession became global many currencies have now fallen against the U.S. dollar. In fact there is strong evidence showing the U.S. dollar has regained its position as a safe haven currencies.

But of course you''re a NEOLOSER so we shouldn''t expect that you would have the capability of keeping track of what is actually happening in the world, let alone understand it and not distort it!

P.S. shouldn''t you be packing for your GOPer induced exile in DUBAI or the rupture...err rapture!

[bladdy10]

I''ve been putting out this message for months, maybe now you will take it to heart and do something to protect your families. STOP paying your mortgage and any credit card payments if you are close to shakey ground. Take what money you have and go out in the country a bit and buy land that you will move a house to. In stead of demolition YOU can buy the salvage rights for any style house for $1.00 then just take the whole thing. Put the land in someone elses name. Go bankrupt if that is what it takes. It is not your responsibility to keep paying bankers, mortgage or credit card companies that will be getting bailed out by their rich friends in Washington while you and your family sleep on the effing streets. If you want more info then write me at bladdy10 at aol

[whatchange-2009]

....and your point is? You want your government to assure you a job and a home? Welcome the the United Socialist States of America. Nice going Libs.

[nybras]

Shanev - Both sides are to blame. Rubin started this mess back when he was with Clinton.

Instead of the old finger pointing, which leads us back to square one: ask your Political rep''s How will you fix this?

[bjcone8559]

This cannot be fixed by throwing money at the top. Obama has it right, this country needs jobs, not bailouts.

Although government finds it necessary to prop up the financial markets, that alone will not fix the problem.

We need public works programs. Rebuild the infrastructure. Roads, bridges, schools, electrical grids, etc.

Incentives to produce and use green technology, alternative fuels.

Stop corporate welfare and end this insane war.

We MUST NOT allow the republican party to rear it''s ugly head. Do we not know by now how destructive right wing policies can be?

After the destruction left in the wakes of Nixon, Reagan, Bush I, Dubya, Gingrich, and the likes can we finally say enough is enough!

This country was built from the bottom up and became the greatest nation in history. It must now be re-built from the bottom up. Empower the people. Support the middle class. And yes, it''s time to start taking back the money that was stolen from the working class by Reagan''s reverse Robin Hood, ''trickle-down'' scam.

[BeyondGreen]

Not enough credit is being given to the high gas prices this past year and it''s serious damage on our economy and society. That one factor alone has caused serious stress in both individuals and businesses. A record number of homes and jobs have been lost as a direct result. And, while we are doing the happy dance around the lower prices at the pumps OPEC is announcing cuts to manipulate the prices upward again. We must get on with becoming energy independent.We can''t take another year like this past. There is a wonderful new book out about the energy crisis and what it would take for America to become energy independent. It covers every aspect of oil, what it''s uses are besides gasoline, our reserves, our depletion of it. Every type of alternative energy is covered and it''s potential to replace oil. He even has proposed legislative agenda''s that would be necessary to implement these changes along with time frames. This book is profoundly informative and our country needs to become more informed and move forward with becoming energy independent. Green technology would not only provide clean cheap energy it would create millions of badly needed new jobs. The Book is called The Manhattan Project of 2009 Energy Independence NOW. Our politicians all need to read this book.

[wardoglrs]

"The problems we face today cannot be solved by the minds that created them" Albert Einstein

[wardoglrs]

*** Cheney was questioned on ABC about whether the fact that two thirds of Americans were opposed to the Iraq War had any influence on decision-making, he said that the American people get to make their input every four years and after that they can be ignored.

Will Durant who said, "Those who know nothing about history are doomed forever to repeat it."

As the economist Dr. Stuart Crane was fond of saying, %u201CThings [in the monetary world] don%u2019t just happen to happen. They happen because they were planned to happen.%u201D

It is surely time for men to think for themselves, and to throw off the authority of names so artificially magnified.
-- Thomas Jefferson, letter to William Short, August 4, 1820 (see Positive Atheism''s Historical section)


Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master... George Washington

" Anyone can become angry. That is easy. But to be angry with the right person, to the right degree, at the right time, for the right purpose and in the right way - that is not easy." --Aristotle

[hdstretch]

So we bailed out these financial institutions when ordinary people coundn''t afford their mortgages?

I don''t think so. We bailed them out when shady investors didn''t pay their mortgages on the several homes they bought, driving the market up in the first place. I have sympathy for the homeowners who are living in their houses. They should be working.

In the meantime, the government, who bailed out the banks that hold notes on these people, have effectively bought their mortgages. Not an unusual practice. So, it is now up to the government to deicde how to deal with the crisis. I have a home, and am in no danger of hitting the streets. Wouldn''t bother me in the least if those people weren''t booted out of their houses either. They simply need to find other jobs. In today''s economy, it takes time. Let the bak add the interest that is accruing to the bottom line, and put the payments they missed onto the back end.

[hitoyou11]

Take all the homes. Then go broke. I hope all the banks go down

[walt1944-2009]

The Great Emperor Bush II is pleased that now the "average Joe, the plumber" is getting hit with losing their homes so that they too, will have to move into shelters or live in cardboard boxes under crumbling bridges.

This is all in keeping with the Great Emperor Bush II''s plan to "STICK IT TO" the citizens of the USSA, no matter who they are, for calling him names, and for making him leave office simply because of a stupid amendment on a 200 year old piece of paper.

Meantime, the Great Emperor is making sure that the highly-paid, highly-perked, ultra-rich, but fantastically-GREEEEDY, and excessively-stupid corporate executives will be well taken care of by continuing to throw future taxpayer money at them.

How about we load the ENTIRE BUSH Family, every neocon Fascist Socialist Nazi Republican, and every corporate executive into a NASA rocket and send this entire corrupt crowd on a one-way trip to the edge of the universe!!!!

SIG HEIL, I''D LIKE A PLANET OR TWO NAMED AFTER ME!!!, BUSH!!!

[Meg003]

beyondgreen

Thank you for the book recommendation. I looked it up at an online bookstore and found it is reasonably priced, also.

What a breath of fresh air your post is! You''ve made a positive suggestion for solving a major cause of our country''s financial woes.

[drivelphobe]

One learns, hopefully, early in life, that each individual is responsible for their own finances. Educate yourself, work hard, save and invest, prepare for the rainy days, and be prudent. Very simple and practical rules that work.

Excluding some sort of lifetime catastrophic event or circumstance, those who find themselves living on the edge financially, deserve what they get. I know many, and they are pitiful.

I hear friends say, "Life is short and I''m not going to miss any opportunity to enjoy something when I get a chance." They refuse to save and invest, always worried about the house payment, the utility bills, car payment, etc., but are always ready to take a trip to Las Vegas, dine out at an expensive restaurant, shop needlessly, and over consume.

It seems that all those who have neglected the basic common sense choices in life, are facing the consequences of such. If it means losing your home, then so be it. It is not a right to have a home, a car or anything else.

I salute those who have made something of their lives, have been financially successful, own and operate businesses and enjoy the fruits of their endeavors. It is calming to feel financially responsible and secure, especially after all the years of focused, diligent commitment to one''s business/career.

[perk235]

ALSO. IF THE TAX PAYERS HAVE BEEN FEEDING YOUR CHILDREN FOR FOUR YEARS AND YOU ARE CAPABLE OF WORKING AND ARE NOT MAKING A ATTEMPT .
Posted by tootall1014 at 10:10 AM : Nov 29, 2008
--------------
The article says:

"It is now a problem for all households: low, middle income and even higher income households. More than 2 million prime mortgages, traditional loans for people with good credit, are now delinquent."

Are the rants now going to include people who pay their bills but have lost their jobs? The two most common reasons for filing bankruptcy are job loss and sickness.

What about rants against the cowboys of the financial industries that made over $60 trillion risky bets?

[perk235]

....and your point is? You want your government to assure you a job and a home? Welcome the the United Socialist States of America. Nice going Libs.
Posted by WhatChange at 08:48 AM : Nov 29, 2008
-----------
No, we want a government that does its job REGULATING financial institutions so they don''t make over $60 trillion in risky bets and need to be bailed out.

We need a government that has the interest of the widest swath of people, not just 1% of the population that are the wealthy elite.

REINSTATE the GLASS/STEAGALL ACT from 1934 that was repealed in the Gramm/Leahy/Bliley Act.

[drivelphobe]

tootall1014...

We are on the same page. Way to easy to get on the entitlement train by those who refuse to work. I feel like vomiting when the number of indigents, illegals and phony welfare recipients are published. Scam after scam, fraud and corruption abound and it still goes on. Perhaps this financial upheaval will cleanse our system and put an end to these leeching vermin.

Have a great day.

[drivelphobe]

azure11....

Job loss can be devastating. Career loss even greater. These are adverse circumstances of life. It is not always easy to prepare for this, but beginning new is necessary.

Illness can be handled through adequate healthcare and disability insurance, plus use of the accumulated assets aimed for retirement and other investments.

You are correct that many well paying jobs are being "re-engineered" into lower paying jobs. GM is in the middle of this right now, as an example. This is a perplexing problem.

Each individual must make choices regarding their lifetime work. Millions make the right decisions, but unfortunately, many more millions do not.

It still boils down to living within your means, saving for a rainy day, and personal choices. The income level doesn''t mean much if one is reckless with their money.

[drivelphobe]

curse914....

There are many battles to fight. I''m unclear about your post, but perhaps you are too?

[whatchange-2009]

Bush/Hannity/Limbaugh-Depression.

It''
''s sad folks, really sad.

Posted by whitemale08 at 12:02 AM : Nov 29, 2008 ******************** Forgive me. Maybe you could enlighten me. How can anyone who''s name is not on the note be the cause of it''s failure? It''s failure was due to non-payment. I can see where you or the lessor might blame the lender or even the broker who sold the note to another investor.

Perhaps you could tell me how:

1) A President who spends no money at all but is hobbled by a congress that spends freely.

2) Two Talk Show "Entertainers" who spout all sorts of foolery from their respective studios.

The later of the two points are in business to sell toothpaste and shaving razors. They just use the conservative point of view because is stirs your ire.

All three of which are wealthier and more prominent than yourself. You are limited to this venue, right here. How poignant.

[jowand]

1 How much does anyone think that the high price of oil in the USA has contributed to higher unemployment. Oil is much lower now, but, if you are recently unemployed it is little consolation and too late.

2 Why do we have high and unstable oil pricing in the USA, when we have total domestic oil reserves that would last about 400 years at present consumption rates.

[drivelphobe]

azure11...

Pretty ironic. The corporations, and unfortunately most small business as well, seem to think paying less for their labor costs is a legitimate way to increase profits. They don''t get it that as they reduce the wages, they are eliminating their customers. Profits are a result of providing quality goods and services, not hiring more and more less qualified, ignoramuses.

This can''t go on much longer. Eventually no one will work for the meager wages.

As an example, it is impossible to even get your lawn mowed by someone who knows how to edge, clean out around sprinklers, and prune trees. Most are imbeciles with a cheap mower and weed whacker from Home Depot. They think the secret to a successful business is charging less, when in actuality, most would pay much more for a good job if was worth it.

Have a great weekend.

[centerfall94]

Wow. Thanks Bush. Thanks neocons! You''ve REALLY TRASHED THINGS THIS TIME.

Fortunately you''re soon to be OUT OF POWER.

[Meg003]

Drivelphobe

Are you having us on with these posts? I''ve rarely heard such a load of smug, condescending dogma spoken outside of spoof television.

You criticize those who have had hard luck, blaming them for not planning carefully, and now you call someone an "imbecile" who is working hard to make a living. Do you think that person got to select the type of brain with which he was born?

Your safe little bubble of a world could crash down upon you, too, unless you are one of the billionaire class.

I worked hard to establish my career and have lived frugally and planned carefully. But I don''t delude myself that hard times couldn''t come my way if several bad breaks unravel my best efforts at security. I''ve seen it happen to other careful people.

[Meg003]

Well, that was certainly a rambling incoherent string of sentences. You could have just said "It''''s not nice to call someone an imbecile".



Posted by azure11

Yes, I can see where I could have more clearly addressed several of drivelphobe''s posts if I had quoted them before responding.

However, I believe that drivelphobe knows what he has posted, and will understand my responses.

[letsgetright]

Interesting comments made by people who hear a few soundbites. The woman this piece is 61 years old, raised four children on her own. Worked tirelessly since she was 19. She did not take welfare when she could.She lived within her means even when it meant beans and wienies many nights. She has been a homeowner for more than 10 years and never had a late payment.Had a modest savings and a 401 K (worth little since the financial meltdown). She bought a home she could afford, making a 30% down payment for a 30-year fixed with an envious interest rate of 5.875 because of her excellent credit. She is NOT asking for a bailout and doesn''t expect one. She is only asking her lender for respite. The very lender who played a major role in creating the economic meltdown should be able to at least do that. She has NOT lived off a government job for 25 years as one writer wrote. After 30 years in the private sector, she went to work for a city 9 years ago. Her unemployment status is directly related to the economic meltdown created by bad loans. Those loans equal foreclosures, foreclosures equal loss in property taxes, loss of property taxes equal loss of government services, loss of government services equal loss of government jobs. And for the person thinking this woman is not trying to get a job, you need to walk in her shoes . You''d have a few blisters. The point is there but for the grace of God go you and you and you -- no matter how much you have prepared.

[Meg003]

The point is there but for the grace of God go you and you and you -- no matter how much you have prepared.

Posted by letsgetright

Thank you , letsgetright, for expressing so well what I attempted to say in my "rambling incoherent string of sentences."

[drivelphobe]

Meg001.....

Which person are you referring to? The one who failed to make sound and obvious plans for mishap, or the one, the "imbecile", who is unqualified for his chosen field of endeavor, undermining the fee structure of legitimate enterprise?

All of us are elated that you have planned so well, and pleased about your announcing your uniquely incisive perception about the future possibility of misfortune. You are truly a wonder.

Go back to your "spoof television".

Incidentally, we are all exposed to the same types of unforeseen tragedy. To neglect that and not prepare, is folly.

Have a wonderful day.

[element51]

It is interesting to read comments on here that blast people who have lost their jobs as being at fault for their financial problems. We worked and planned very carefully for the time when we could retire but in just the past few months we have seen our retirement package fall apart. Our home is paid for and we do not have any credit card debt but now our biggest expense is insurance and taxes. We no longer go out to eat and we do not spend a penny unless it is absolutely necessary and we are just getting by. I am 65 years old and disabled,(partially wheel chair bound) and getting a job is vitrually impossible. I know that there are many people out there who are much more worse off than we are and I do not believe that every single one of them is at fault. Instead of directing insults at those less fortunate we need to be trying to figure out some way to repair the economy and generate good jobs for Americans.

[Meg003]

For people looking for ways to help those hit by the economic fiasco, you might check with your local school. Sometimes a family needs medicine, or help with a power bill, or just a little money to repair the family car. You can do this anonymously, if you prefer.

[Meg003]

"Instead of directing insults at those less fortunate we need to be trying to figure out some way to repair the economy and generate good jobs for Americans."

Posted by Element51

You make some excellent points. If enough people have you outlook, Americans will find ways to come out of this economic downturn. Maybe we will revive the values you express of compassion and selflessness.

[element51]

drivelphobe....As usual, your posts are exactly what part of your screen name is...drivel. You are so smug and patrionizing toward those who you deem to be so beneath you. I think it''s great that you have managed to do all the right things and position yourself to where you don''t have to worry but not everyone out there is so lucky. Try to put yourself in their position and try to feel what it must be like for them and their famlies. And remember that the world is full of surprises and you never know when you might be the one to be surprised.