The end is near!

[Bobb]

Hi everyone, Lets get this straight. No matter how bad a job you do running your business, when it all starts to go down the toilet you just plead to the head rich guy and he quickly makes a deal for the goverment to pick up the tab. As in you and me,the tax payers, have to make sure the rich CEO doesn't lose any money. Hey i've got a good idea. Will get people that can afford a $50,000 house and will get them a mortgage for $100,000 or $200,000 that they can't afford to repay and then we will take a bunch of those and bundle them and call them investment grade and sell them to any bank etc as an investment. Then when it all goes south see above. Just think. It only took from 1929 to 2008
to go 360 degrees . So here we are, eight years down the road and the economy sucks, we are the laughing stock around the world, and we have killed four thousand plus americans in Iraq and hundreds of thousands of Iraqs for nothing. Well i'm here to tell you that if you haven't registered to vote its not to late. Once you have done that make sure you vote. If tou not going to be in town on November 5th get an absentee ballot and do it now.
Take care, BOBB
P/S Oh ya, the dollar isn't worth the paper its printed on. "B"

[gstape]

P/S Oh ya, the dollar isn't worth the paper its printed on. "B"

Ok I'll take yours if you don't want them

[Landshark]

Originally Posted by Bobb

Will get people that can afford a $50,000 house and will get them a mortgage for $100,000 or $200,000 that they can't afford to repay and then we will take a bunch of those and bundle them and call them investment grade and sell them to any bank etc as an investment.

i'm not sure how all the selling mortgages to the bank part works, but notice how there is very little mention of people's personal responsibility?

if you can't afford a $200,000 house ...... DON'T BUY ONE!

if you can't afford the monthly payment for a 30-yr fixed loan ...... DON'T GET AN ADJUSTABLE RATE MORTGAGE!

i thank the idiots living larger than they can afford.

we were offered to borrow up to $400,000 when we applied for a mortgage when looking for our next house. guess what? we're not going to mortgage even 1/3 of that. even crazier, i have actually SAVED a lot of money towards a nice down payment. amazing!

[Bobb]

Hi Alan, But you being a former SVX owner have already shown how sharp you are. On the other hand, someone driving say an "Echo" goes to the bank, and is told, GOOD news! You have a better credit score than we thought. You have a 12, and you thought you only had a 10. Sooo we can get you a much better deal than you thought,etc. Ya, I know a lot of these people didn't look into the deal very carefully. But who looks out for these people. Not the guy at the bank etc. For a lot of people the biggest thing they buy is a used car. You mean everyone doesn't pay by the week? We had a dealer in Detroit selling cars and doing the financing. He had a gadget that he could turn the car on and off. If the buyer didn't show up with the payment he just turned the car off. Sometimes people were flying down the E-Way and the car stopped running because they were late with their payment. Other times cars stopped for no reason because the system malfunctioned. No , any publicity is not good publicity. Am I my brothers keeper? I don't know, maybe I should be. Take care, BOBB

[sicksubie]

All I know is that as I (along with everyone else) am now being stuck with a titanic sized boatload of poo, I want to see people go to jail. Even if they can't be convicted I want to see Barney Frank, Chuck Schumer, Obama, former CEO's at the very least have to take a perp walk and get humiliated. These congressmen that were conducting the questioning today and who we are relying on to "fix" the problem, THEY should be the ones under investigation. You have politicians taking HUGE amounts of money from Fannie Mae and Freddie Mac (Obama and Frank being the two largest recipients) while others pass legislation making it harder for banks to turn people away for mortgages due to what could be interpreted by some two-bit lawyer as "discriminatory practices".

We are now expecting these people to save us? We do need a cortisone shot of liquidity in the market, but we also need to separate the corporate wheat from the chaff and then just let the chaff burn.



P.S. I know I singled out Democrats only in the above statement, but do not take that as a sign that I believe that they are the only ones at fault. PLENTY of Republicans are at fault as well....

[lhopp77]

Originally Posted by sicksubie

All I know is that as I (along with everyone else) am now being stuck with a titanic sized boatload of poo, I want to see people go to jail. Even if they can't be convicted I want to see Barney Frank, Chuck Schumer, Obama, former CEO's at the very least have to take a perp walk and get humiliated. These congressmen that were conducting the questioning today and who we are relying on to "fix" the problem, THEY should be the ones under investigation. You have politicians taking HUGE amounts of money from Fannie Mae and Freddie Mac (Obama and Frank being the two largest recipients) while others pass legislation making it harder for banks to turn people away for mortgages due to what could be interpreted by some two-bit lawyer as "discriminatory practices".

We are now expecting these people to save us? We do need a cortisone shot of liquidity in the market, but we also need to separate the corporate wheat from the chaff and then just let the chaff burn.



P.S. I know I singled out Democrats only in the above statement, but do not take that as a sign that I believe that they are the only ones at fault. PLENTY of Republicans are at fault as well....

Actually Dodd was the biggest recipient of FMs money and you forgot to mention that the Republicans tried to rein them in with more control in 2005 and the democrats shot it down. McCain was a strong supporter of more controls on them.

Lee

[lhopp77]

Originally Posted by Landshark

i'm not sure how all the selling mortgages to the bank part works, but notice how there is very little mention of people's personal responsibility?

if you can't afford a $200,000 house ...... DON'T BUY ONE!

if you can't afford the monthly payment for a 30-yr fixed loan ...... DON'T GET AN ADJUSTABLE RATE MORTGAGE!

i thank the idiots living larger than they can afford.

we were offered to borrow up to $400,000 when we applied for a mortgage when looking for our next house. guess what? we're not going to mortgage even 1/3 of that. even crazier, i have actually SAVED a lot of money towards a nice down payment. amazing!

+1 You just hit on the BULK of the current problem, but it still took greedy bankers/money lenders to make it possible. I find it interesting that most of our "below the poverty line" citizens, own cars, have more than one TV, cell phones, I-Pods, nice stereos and just about every other modern toy or convenience that you can think of.

Lee

[demonsvx]

Funny thing my brother has been telling me for months "buy more ammo, buy more ammo" it will be worth more than the dollar in the coming months if the s**t hits the fan. I blame everyone from the banks, realtors, investors and politicians for letting this all get out of hand. Realtors overvalued property to increase their commision, banks went along with this and borrowed more money to people who were basically way over their means of repaying, investors(which includes the Federal Reserve) dropped interest rates to fuel the boom and finally politicians who sat back and got nice little kickbacks from all of this. John Mccain(who the F**K needs 7+ homes anyway!?) Jesus H Christ and Barack Obama(shady deals there too) good luck fixing the mess you a$$holes have created. Plan and prepare for the worst.....its coming. Buy your ammo and sight your guns in Im keeping what I have bought and paid for the banks can have my fuggin house after "investing" my hard earned money in bulls##t. Im going to my cave in the woods and getting ready to live off the land......anyone is welcome to join

[top cat]

$2,500 is the quote to get my 95 SVX up and running strong again. I'm paying for it in Gold Bullions, or gas. whichever is worth more in a few months. Then I'm going to Mexico.

The perfect car for never ending desert roads with no speed limits.

[lhopp77]

Originally Posted by demonsvx

John Mccain(who the F**K needs 7+ homes anyway!?)

Actually these belong to Cindy McCain and if you check some are income producing. THANK GOODNESS FOR PEOPLE LIKE CINDY MCCAIN. She had income of just over $6M and paid OVER $2M in TAXES. Its business people like this that take most of the tax burden off of the rest of us to support the non workers.

Lee

[Landshark]

Originally Posted by demonsvx

I blame everyone from the banks, realtors, investors and politicians for letting this all get out of hand. Realtors overvalued property to increase their commision, banks went along with this and borrowed more money to people who were basically way over their means of repaying, investors(which includes the Federal Reserve) dropped interest rates to fuel the boom and finally politicians who sat back and got nice little kickbacks from all of this.

amazing.....on your list of blame you still see no reason to fault the morons who thought they could live beyond their means and get a mortgage they could never afford.

"hey, i'll buy a house i can't afford. damn politicians and banks!"

"hey, i'll buy a car i can't afford. damn politicians and banks!"

"hey, i'll max out credit cards i can't afford to pay off. damn politicians and banks!"

[demonsvx]

Originally Posted by Landshark

amazing.....on your list of blame you still see no reason to fault the morons who thought they could live beyond their means and get a mortgage they could never afford.

"hey, i'll buy a house i can't afford. damn politicians and banks!"

"hey, i'll buy a car i can't afford. damn politicians and banks!"

"hey, i'll max out credit cards i can't afford to pay off. damn politicians and banks!"

You see my point of where the stupidity started and now where it is ending. Yes I forgot to include the key issue of people living WAY beyond their means. Im glad one of those people divorced me she wanted to take out the full amount on our house and I said no because it was beyond my income and we would have to pay PMI. Of course she didnt know what the hell that was But everyone is at fault in the financial mess we are in because we let it happen and didnt do anything about it until now. Everyone wants to be rich.... sorry it aint gonna happen in the world we live in. We are always going to have rich people and poor people, thats the reality, deal with it.

[lhopp77]

Interesting read on who is really at fault for the current financial mess.

http://therightperspective.com/wordpress/?p=80

I will be the first to admit that it is a conservative leaning site but everything in it is common knowledge or can be easily verified by simple searches.

Lee

[RSVX]

Originally Posted by lhopp77

Interesting read on who is really at fault for the current financial mess.

http://therightperspective.com/wordpress/?p=80

I will be the first to admit that it is a conservative leaning site but everything in it is common knowledge or can be easily verified by simple searches.

Lee

Leaning?

HAHAHAHAHAHA.

More like fell over.

Either way... the article is interesting.