Don't think this is what WE had in mind...

[Honu]

It seems to me that alot of people are just really stupid , whatever happen if it sounds to good to be true it is. That is pretty much what happened with the housing crisis , people with their heads up their arse who couldnt afford a house because they didnt make enough money and they knew it , are now all of a sudden home owners who refinanced their homes with only 1 to 2 years of ownership and instead of putting it back into their house they went and bought big screen tv's and new cars ( that they cant pay for either) refurnished their homes and so on.
So now because they are dumb shits , I get to help them pay for their house when I dont even own my own house , what a crapper.
I should have just went and lived beyond my means like all the other numbsculls and I could have someone paying for my house now too.

Originally Posted by Honu

It seems to me that alot of people are just really stupid , whatever happen if it sounds to good to be true it is. That is pretty much what happened with the housing crisis , people with their heads up their arse who couldnt afford a house because they didnt make enough money and they knew it , are now all of a sudden home owners who refinanced their homes with only 1 to 2 years of ownership and instead of putting it back into their house they went and bought big screen tv's and new cars ( that they cant pay for either) refurnished their homes and so on.
So now because they are dumb shits , I get to help them pay for their house when I dont even own my own house , what a crapper.
I should have just went and lived beyond my means like all the other numbsculls and I could have someone paying for my house now too.

Yes.
And you are also gonna bail out the CEO's from investment
banks and car companies who also not only made stupid decisions,
but in some cases made criminal decisions. You will pay for their
bonus next year. I hope you enjoy that while working your rear off.
Its more than the poor dumb sh its.

[Honu]

Originally Posted by pgardn

Yes.
And you are also gonna bail out the CEO's from investment
banks and car companies who also not only made stupid decisions,
but in some cases made criminal decisions. You will pay for their
bonus next year. I hope you enjoy that while working your rear off.
Its more than the poor dumb sh its.

Oh I concur totally , my feeling is the ass holes in charge of the lending and so forth should be prosecuted for creating this mess.
My neighbor got her real estate liscence while the boom was going on and tried to get me to buy and I kept telling her I dont have money for a down payment , she said oh dont worry they will loan you money without a down , Im like how the hell can they do that , just didnt seem right to me. She badgered me for what seemed like weeks telling me how she "could get me in" all the while Im thinking this is just not right . So I will give equal credit to the people who sold the loans and the one's who bought into them , they are all knuckleheads.

Originally Posted by Honu

just didnt seem right to me. She badgered me for what seemed like weeks telling me how she "could get me in" all the while Im thinking this is just not right .

Well we know what your "friend" was thinking..

Not much, and $.
Bad combination.

[Honu]

Originally Posted by pgardn

Well we know what your "friend" was thinking..

Not much, and $.
Bad combination.

No kidding , and maybe there should be a course in ethics for these kinds of people . I just still have such a hard time grasping how dumb and greedy people can be , it seems to me they must not have a any pride in things that are ethical.
I feel this also goes for the people who were running this country and are still running this country , they are nothing but a bunch of unethical bastards and most likely if we werent , myself included , so "comfortable" in our lives we would overthrow them all.

[Cannon Shell]

Congressional pressure on Fannie Mae and Freddy Mac to secure homeowner loans to people who didnt necessarily deserve the loans was what allowed the banks to make such poor choices and decisions. The fact that a quasigovt agency was in effect backing all the loans, bad or good, allowed the banks to go wild with the refinancing and crazy ARM's. While the banks absolutely took advantage and went too far, the politicians courting special interest groups (like acorn) created the atmosphere for this kind of behavior to flourish.

The govt basically said make the bad loans we will cover them, until FM and FM ran out of money.

Originally Posted by Cannon Shell

Congressional pressure on Fannie Mae and Freddy Mac to secure homeowner loans to people who didnt necessarily deserve the loans was what allowed the banks to make such poor choices and decisions. The fact that a quasigovt agency was in effect backing all the loans, bad or good, allowed the banks to go wild with the refinancing and crazy ARM's. While the banks absolutely took advantage and went too far, the politicians courting special interest groups (like acorn) created the atmosphere for this kind of behavior to flourish.

The govt basically said make the bad loans we will cover them, until FM and FM ran out of money.

Govt said make loans easier,
the banks saw an opportunity to cheat.
Homeowners saw an opportunity to own a
home, the American dream. Or wheeler-dealers
saw an opportunity to buy up lots of homes.
Conservatives concentrate on the idiots that had
no business buying a house. Liberals look to the
wealthier parasites that took advantage of very cheap, easy
to obtain Mortages on a number of houses to be sold
again. The dreaded middle man that serves no purpose.
The maggots that just trade some hypothetical curreny.
Speculation gone mad.

Many forgot the American dream requires a job
and hard work.
And then you have to make enough
money. A bit of an oversight on all fronts.

Blaming just the victims/idiots is too easy.

[hi_im_god]

i wish the internet could investigate plane crashes.

i'm pretty sure we'd all conclude it was the ground's fault.

[Honu]

Originally Posted by hi_im_god

i wish the internet could investigate plane crashes.

i'm pretty sure we'd all conclude it was the ground's fault.

LOL

Originally Posted by hi_im_god

i wish the internet could investigate plane crashes.

i'm pretty sure we'd all conclude it was the ground's fault.

When the ground becomes vertical
instantaneously it is the ground's fault.

[witchdoctor]

Originally Posted by hi_im_god

i wish the internet could investigate plane crashes.

i'm pretty sure we'd all conclude it was the ground's fault.

No, it was the ass fault.

[Danzig]

Originally Posted by Cannon Shell

Congressional pressure on Fannie Mae and Freddy Mac to secure homeowner loans to people who didnt necessarily deserve the loans was what allowed the banks to make such poor choices and decisions. The fact that a quasigovt agency was in effect backing all the loans, bad or good, allowed the banks to go wild with the refinancing and crazy ARM's. While the banks absolutely took advantage and went too far, the politicians courting special interest groups (like acorn) created the atmosphere for this kind of behavior to flourish.

The govt basically said make the bad loans we will cover them, until FM and FM ran out of money.

what i keep wondering, is what interest does the govt have in ramming home ownership down peoples' throats? they turned it from being a dream to being a necessity. if everyone thinks back to what got our current financial mess started, it was housing and the huge loan mess.

[GBBob]

Originally Posted by Danzig

what i keep wondering, is what interest does the govt have in ramming home ownership down peoples' throats? they turned it from being a dream to being a necessity. if everyone thinks back to what got our current financial mess started, it was housing and the huge loan mess.

I'm not sure it's the govt who rammed this dream down anyone's throats. Any basic financial book you read, any article directed at 20 somethings out of college just starting out...home ownership is at the core of basically every financial planner's outline for developing a solid financial base. What would have happened if the Govt tried to step in and regulate and restrict mortgages 5 years ago? The screams from the right about Socialism and limited Govt would be as loud as they are today. Everyone wants regulation until it is them being told they can't get a mortgage.

Now if you want to include the IRS allowing interest deductions on mortgages vs limited financial allowances for renters..then yes, that could be construed as the Govt favoring Home Owners.

[Cannon Shell]

Originally Posted by Danzig

what i keep wondering, is what interest does the govt have in ramming home ownership down peoples' throats? they turned it from being a dream to being a necessity. if everyone thinks back to what got our current financial mess started, it was housing and the huge loan mess.

One of Bush's biggest mistakes was continuing the policy started by Clinton

[Cannon Shell]

Originally Posted by pgardn

Yes.
And you are also gonna bail out the CEO's from investment
banks and car companies who also not only made stupid decisions,
but in some cases made criminal decisions. You will pay for their
bonus next year. I hope you enjoy that while working your rear off.
Its more than the poor dumb sh its.

Car companies are not solely to blame for their problems. The unions crippled them for years which led to the foreign companies dominance by not having crippling labor obligations including pension and healthcare for retired employees, many of which were in their early 50's which means they were going to live for a long time.

[Honu]

Originally Posted by Cannon Shell

Car companies are not solely to blame for their problems. The unions crippled them for years which led to the foreign companies dominance by not having crippling labor obligations including pension and healthcare for retired employees, many of which were in their early 50's which means they were going to live for a long time.

I am so on the same page with you about the unions , I grew up in Pittsburgh and watched the unions kill the steel industry .

Originally Posted by Cannon Shell

Car companies are not solely to blame for their problems. The unions crippled them for years which led to the foreign companies dominance by not having crippling labor obligations including pension and healthcare for retired employees, many of which were in their early 50's which means they were going to live for a long time.

The type of cars they were pushing (while
using governement incentives "cash" to make cheaper
fuel efficient cars) was a huge error. They gambled
on a big car market that was small and lost.
And the CEO's did not fall on
their swords. They went away with bonuses
that would offset all the crap the unions pushed.

I wonder if the CEO's can get health insurance
having avoided falling on their swords...

[Cannon Shell]

Originally Posted by pgardn

The type of cars they were pushing (while
using governement incentives "cash" to make cheaper
fuel efficient cars) was a huge error. They gambled
on a big car market that was small and lost.
And the CEO's did not fall on
their swords. They went away with bonuses
that would offset all the crap the unions pushed.

I wonder if the CEO's can get health insurance
having avoided falling on their swords...

http://online.wsj.com/article/SB123500874299418721.html

CEO's get a lot of heat deservedly so but your statement is so out of touch with reality that it is scary.

Originally Posted by Cannon Shell

http://online.wsj.com/article/SB123500874299418721.html

CEO's get a lot of heat deservedly so but your statement is so out of touch with reality that it is scary.

It was intended to be.
But the following is NOT:


But what is not out of touch is that the CEO's made
PITIFUL business decisions using government money,
and are in much better
shape after these stupid decisions compared to the avg. worker.

BTW.
I thoroughly dislike most Unions and the way they are run.
Teachers unions dont really exist in Texas. And that is fine
with me.

[Cannon Shell]

Originally Posted by pgardn

It was intended to be.
But the following is NOT:


But what is not out of touch is that the CEO's made
PITIFUL business decisions using government money,
and are in much better
shape after these stupid decisions compared to the avg. worker.

BTW.
I thoroughly dislike most Unions and the way they are run.
Teachers unions dont really exist in Texas. And that is fine
with me.

Of course the top people are in better shape than the average worker. There is a reason why some become CEO's and the vast majority of us dont. No one makes worse decisions with govt money than the govt. Demonizing CEO's is just rhetoric of the left and one more attempt at the class warfare that they continually wage to the detriment of the country as a whole. While no one is saying that there werent bad decisions and in some cases probably some criminal behavior the vast majorities of CEO's in this country are hard working, smart and honest people who pay far more in taxes than their 'fair share' especially as compared to those avg workers.