Author Topic: Republican Senators Back Mortgage Bailout (Read 2066 times)

Dee · « **Reply #30 on:** July 03, 2008, 05:38:33 AM »

It's the government, the lenders, and the government programs much like "Affirmative Action" that caused all these people to buy houses that they could not afford. Oh PLEEEEEEZZZZZE! That's the dumbest cop out for poor judgement or no judgement all I have ever heard.
I'm gonna jump off this building, cause they are gonna let me, and besides, every body else is doing it.

It was those damn PREDATORY LENDERS that caused me to stick my head up my #$$, and buy a $250,000.00 house when I couldn't afford a $50,000.00 house. Good Grief! This is as bad as voting for a liberal such as McCain, and calling yourself a conservative.

Sitting Duck · « **Reply #31 on:** July 03, 2008, 06:29:53 AM »

I think stating that 99% of those defaulting on loans are white collar, college educated individuals is a stretch of someones figures. Maybe 50 to 75% and that's a guess. The availability of low interest rate ARM's, no credit checks, no debt to income ratio checks, and little if any down payment requirements created the housing boom. These almost nonexistent standards for receiving a loan ultimately caused the housing bubble to burst.

There were many (a lot of realtors) that bought a second or even third house to flip. The television ads made it look so easy. There were also many that upgraded to homes they couldn't afford. Also, there were one heck of a lot of first time home buyers that jumped into that $250,000 house instead of the traditional starter house. These weren't all white collar, college educated buyers but apparently anyone with a pulse.

I've heard stories of illegals buying houses in Arizona during this frenzy. Multiple families would live in and work to pay for them. Well, until the bubble burst because they worked in the construction/building trades. When their income dried up. Guess what happened? To top it off, there were stories of home equity loans being made to these very individuals that cashed out and skipped the country with the proceeds. Who ends up paying for the defaulted mortgage and home equity loans? I don't know if these stories are true or not but it wouldn't surprise me in the least.

All because of an over abundance of foreign capital, minimal financing requirements by the lending institutions, and lack of government oversight the housing boom was created. Couple that with individual greed and a total absence of common sense and we arrive at where we are today.

The rest of us end up paying for their stupidity and greed. The market didn't regulate itself so now the government will step in and make a bad situation worse. Either way, those of us that weren't feeding at the trough will end up paying for this fiasco. That's the American way. Isn't it?

JMO.

Dee · « **Reply #32 on:** July 03, 2008, 06:42:22 AM »

Sitting Duck, I am ONE OF THOSE whom bought two houses at a time to flip. My own home is paid for, I sold one immediately after I finished the flip, and I am paying on one that I will NOW SELL for what is against it, and will gladly do so, just to get out from under it. I am not white collar, just a former business man that got into the housing market just before it went south.
Ya know what? Nobody talked me into it, and nobody twisted my arm to loan me the money, and I don't feel like a victim. It was just bad timing on my part. I did not see the credit crunch coming. I will simply make the payments, and work harder.
Wanna buy a house?

Sitting Duck · « **Reply #33 on:** July 03, 2008, 06:56:12 AM »

If the house you have for sale is in Tucson and if you would consider a trade or partial trade for one in Ohio.... Yes!

woodchukhntr · « **Reply #34 on:** July 03, 2008, 07:38:42 AM »

Dee: an honest man! He admits that his timing was bad, it is his fault and he is not a victim.

A few years ago, I saw a beachfront house in Kill Devil Hills, NC that had been toppled into the ocean during a storm. That is what happens when you build on the beach. I wondered if the owner whined to the government to bail him out despite his poor choice of location.

SHOOTALL · « **Reply #35 on:** July 03, 2008, 07:52:50 AM »

he winned no louder than when he paid taxes on the $1000's he got each week for rent !
A beach house in K.D. Hills is a money maker pure and simple .

Dee · « **Reply #36 on:** July 03, 2008, 08:04:07 AM »

Quote from: Sitting Duck on July 03, 2008, 06:56:12 AM

If the house you have for sale is in Tucson and if you would consider a trade or partial trade for one in Ohio.... Yes!

If your house was in a certain part of Texas, or Oklahoma, we might have a deal, but I ain't lost nothin in Ohio OR Arizona. Sorry.

gypsyman · « **Reply #37 on:** July 03, 2008, 09:21:23 AM »

Beemanbeme, we're on the same page. No way shape or form should the gov't bail these banks/lending instatutions, or investors. At this point in time, I don't think that it really matters much, who is to fault. It's going to get much worse, and nobody, white-blue or any other color collar, is going to change what is to come. gypsyman

SHOOTALL · « **Reply #38 on:** July 03, 2008, 09:25:43 AM »

HEY the Govt. is us ! we are footing the bill . want to do something about it VOTE DIFFERENT this time !

Dee · « **Reply #39 on:** July 05, 2008, 03:48:59 AM »

Quote from: SHOOTALL on July 03, 2008, 09:25:43 AM

HEY the Govt. is us ! we are footing the bill . want to do something about it VOTE DIFFERENT this time !

Ain't gonna happen SHOOTALL. They HAVE to vote McCain cause the TV folks said so. But then again McCain is a liberal, and liberals vote liberal. Don't they?

beemanbeme · « **Reply #40 on:** July 05, 2008, 04:50:31 AM »

You're wrong about that, Dee. Obama is the darling of the media. They're breaking their backs to appear soooooo PC that no dirt is published about him. Any stuff that would be used to smear another candidate is given a positive spin before being aired. IE: he didn't put his hand over his heart because "he was so caught up in the song". He was "unaware" (sure, right) that the two muslim women campaign workers in head scarves were kicked out so they wouldn't be seen on TV.

Dee · « **Reply #41 on:** July 05, 2008, 05:59:54 AM »

beemanbeme, what difference does it make. Everyone knows that Obama is a liberal, and everyone knows that McCain is a liberal. Side issues are of no consequence. Vote democrat you get a liberal. Vote republican you get a liberal. I don't give a damn if a man puts his hand over his heart when the song (the National Anthem) is played when I ALREADY know what he is. Obama is what he is. It is no secret here.
McCain is flip flopping all over the place, and is changing his mind in every town to fit the mood. He was against off shore drilling, now he is for it, but doesn't want to drill in Anwar, he is PART OF THE GLOBAL WARMING CROWD, and has continually said so, and he has sold out his home state of Arizona over the illegal immigration problem. He wants to give them AMNESTY.
MCCAIN IS A LIBERAL and that is a FACT! No one disputes that. Not even the republican party.
If you want to vote liberal, them by all means vote liberal. Splitting hairs accomplishes nothing. I for one, as I have said, am not afraid of the democratic party, nor the republican party, and am voting against both. If you are, and you do seem to be, then vote for the one that you think will save you from the other.
When the founding fathers were trying to LIBERATE themselves from the tyranny of England there were folks just like the democrats, and republicans which were loyalist to the king (in this case the republicans and democrats combined ARE THE KING), and there were folks just like YOU, whom were afraid to GO AGAINST THE ESTABLISHMENT for FEAR OF CONSEQUENCES. And there were folks like me and a few others here, whom stood up and said; ENOUGH IS ENOUGH! I am not supporting what is wrong with this country. We want our freedom back.
These last folks KNEW, that you have to start some where.
With that said; Cast your liberal vote for the Liberal McCain. It is after all, your vote.

robert4570 · « **Reply #42 on:** July 05, 2008, 06:23:39 AM »

Quote from: Dee on July 05, 2008, 05:59:54 AM

beemanbeme, what difference does it make. Everyone knows that Obama is a liberal, and everyone knows that McCain is a liberal. Side issues are of no consequence. Vote democrat you get a liberal. Vote republican you get a liberal. I don't give a damn if a man puts his hand over his heart when the song (the National Anthem) is played when I ALREADY know what he is. Obama is what he is. It is no secret here.
McCain is flip flopping all over the place, and is changing his mind in every town to fit the mood. He was against off shore drilling, now he is for it, but doesn't want to drill in Anwar, he is PART OF THE GLOBAL WARMING CROWD, and has continually said so, and he has sold out his home state of Arizona over the illegal immigration problem. He wants to give them AMNESTY.
MCCAIN IS A LIBERAL and that is a FACT! No one disputes that. Not even the republican party.
If you want to vote liberal, them by all means vote liberal. Splitting hairs accomplishes nothing. I for one, as I have said, am not afraid of the democratic party, nor the republican party, and am voting against both. If you are, and you do seem to be, then vote for the one that you think will save you from the other.
When the founding fathers were trying to LIBERATE themselves from the tyranny of England there were folks just like the democrats, and republicans which were loyalist to the king (in this case the republicans and democrats combined ARE THE KING), and there were folks just like YOU, whom were afraid to GO AGAINST THE ESTABLISHMENT for FEAR OF CONSEQUENCES. And there were folks like me and a few others here, whom stood up and said; ENOUGH IS ENOUGH! I am not supporting what is wrong with this country. We want our freedom back.
These last folks KNEW, that you have to start some where.
With that said; Cast your liberal vote for the Liberal McCain. It is after all, your vote.

You've pretty much hit the nail on the head and I'm with ya' . i've watched McCains on the fence / fall over on the DEMS side voting track record for years .
The problem is what do we do in November , I sure as hell aint votin' for Obama ....so what option do we have ?Vote for the lesser of 2 evils/ vote against Obama? Or not vote because there is no one else , which wont do us any good.?

Is there a "VIABLE" alternative to the status quo that stands a slight chance in hell of even being recognized , atleast to make us feel better

I votoed for Perot the first go around and that really paid off . He was to the Republicans what Raplh Nader is and has been to Dems.

Dee · « **Reply #43 on:** July 05, 2008, 06:33:05 AM »

robert, the issue is simple. Vote for what's right, or vote for what's wrong. In the wrong catagory, the lessor of two evils. At some point in time, the "piper" for this voting the lessor MUST BE PAID. Puting this off, will only allow what's wrong to GROW. There is enough fertilizing votes for the two liberals as it is. It WILL grow.
It, as you can see, is neither an easy, nor a "popular" stance, to say; Enough is enough! But I have had enough, and am not voting for what is wrong, and don't give a hang what the cool aide drinkers think.
The Boston Tea Party was in a sense a "protest vote". But it was a start! Was it not!

robert4570 · « **Reply #44 on:** July 05, 2008, 07:13:48 AM »

Quote from: Dee on July 05, 2008, 06:33:05 AM

Robert, the issue is simple. Vote for what's right, or vote for what's wrong. In the wrong category, the lessor of two evils. At some point in time, the "piper" for this voting the lessor MUST BE PAID. Putting this off, will only allow what's wrong to GROW. There is enough fertilizing votes for the two liberals as it is. It WILL grow.
It, as you can see, is neither an easy, nor a "popular" stance, to say; Enough is enough! But I have had enough, and am not voting for what is wrong, and don't give a hang what the cool aide drinkers think.
The Boston Tea Party was in a sense a "protest vote". But it was a start! Was it not!

Man , Good points made.
I don't know but it seems like we've got some serious restructuring to do then ,and from the ground up at that.
Thanks for your reply.

beemanbeme · « **Reply #45 on:** July 05, 2008, 09:08:39 AM »

Dee, I think you need to know a lot more about what you're talking about when you start tallking about who is a patriot and who isn't and whose ancestors fought to set this country free from England and who didn't. Because right now you've got your big fat mouth talking right through your big (censored word).
You vote for who you want to. Its a privilege that a whole lot of my kinfolks paid for so enjoy it while you can.

Dee · « **Reply #46 on:** July 06, 2008, 01:37:19 PM »

Quote from: beemanbeme on July 05, 2008, 09:08:39 AM

Dee, I think you need to know a lot more about what you're talking about when you start tallking about who is a patriot and who isn't and whose ancestors fought to set this country free from England and who didn't. Because right now you've got your big fat mouth talking right through your big (censored word).
You vote for who you want to. Its a privilege that a whole lot of my kinfolks paid for so enjoy it while you can.

Well I tell ya what, beemanbeme. I spent twenty years serving this country. I have an uncle with 2 purple hearts, and 7 bronze stars, from the Philippine campaign. I have another uncle whom has been in a submarine at the bottom of the Pacific Ocean since 1944, serving his country. I have a cousin that had three helicopters shot out from under him in Vietnam, an uncle that was almost killed at Danange. I currently have a son serving as a Sgt. with the 82nd Airborne, with several combat medals from Afghanistan, and two combat tours in Iraq. So don't tell me what your ANCESTORS did. My whole family including myself have served so you can make your moronic, holy than thou statements. My family has a LONG history of serving this country, so you can sit in the corner with you pointed hat, and make stupid remarks. Nuff said! I'm done!

beemanbeme · « **Reply #47 on:** July 07, 2008, 03:58:13 AM »

That's real great. Cause you've said enough crap to fertilize the state of California. You don't get off low rating people and people's andcestors as being unpatriotic because they don't vote for some dumbazz can't win loser you've decided is the great white hope. Your line says it all: you're a loser.
Now maybe we can get a break from your constant one note johnny speech about how you're the only smart person in America.

Dee · « **Reply #48 on:** July 07, 2008, 04:08:25 AM »

As I have said on another thread, this one also is on a downward spiral, AND I am as guilty as any. State you business, your beliefs, and your convictions and go on. That is the way it SHOULD BE.
Politics is an invitation to contention, and I have participated in the contention. Now this one too, is about insults, and degradations toward one another. A peeing contest of whom can be the most obnoxious toward the other.
I regret it, and I am going to withdraw. This type of behavior shows a lack of character on every ones part including myself, and I am going to work on mine.
As I said in another thread there will be those whom give in to their weakness, and take another shot, but I will not.
My apologies gentlemen, there is nothing else to be said on my part. I have stated my case, and too much of the other.

Graybeard · « **Reply #49 on:** July 07, 2008, 10:19:17 AM »

Neither side in this is gonna change the mind of the other and convince them to change the way they plan to vote. Those on different sides of this issue will never see the point of the other side and agree so just stating your opinion and moving on is the wisest course of action. Personal attacks, name calling and pissing contests really do nothing but run up the post views and post count (which is a good thing of course) but changes no one's mind.