Can't pay your bills? It's rich peoples fault.

[indy007]

I've always followed protest movements. I like seeing what people are about.

http://reason.tv/video/show/394.html

I actually made it through the video.

Then my head exploded.

reason.tv's Dan Hayes and Michael C. Moynihan checked out the demonstration and talked with some of the activists, who quickly changed the subject from home loans to Castro's Cuban paradise, the need to free Mumia Abu Jamal, forgiving student loans, the Rothschilds (!), Haitians eating a mixture of dirt and oil (!?!?), and much, much more. Approximately six minutes.

[ink]

do you realize that 1 in 500 home owners in America are under foreclosure???

thats pretty friggin serious!!! 

[indy007]

do you realize that 1 in 500 home owners in America are under foreclosure???

thats pretty friggin serious!!! 

Do you realise that 1 in 500 home owners in America should have bought something they could afford, but didn't?

thats pretty friggin serious!!!

[Dowding]

In words of my girlfriend after hearing the bit about Iraqis fighting back with sticks and stones

"No, they are fighting with road side bombs you f**king idiot."

[Hornet33]

Exactly right!!! The only people to blame for the current housing crunch are the idiots that thought an intrest only loan was a great thing.

Hey I only make $45K a year but I can afford to buy this $250K home because I only have to pay the interest for the first five years and my payment is only $600 a month. WOW!!!! That's great, where do I sign?? Now five years later that payment jumps to $2000 a month and people are defaulting on their loans.

Why should I feel sorry for them?? They were stupid. I bought a house I could afford, did a traditional 30 year loan and my payment pretty much stays the same. What pisses me off is because all these idiots screwed up the housing market, my property value is going down.

Once again the people that do the right thing and plan ahead are having to pay for the idiots who can't think ten minutes into the future.

[Dowding]

Hornet33 - Communism is clearly the answer. It worked wonders in Eastern Europe.

[indy007]

Hornet33 - Communism is clearly the answer. It worked wonders in Eastern Europe.

Cuba my friend, Cuba. Everybody has a house, job, and free healthcare.

[Dowding]

I'd go to Cuba...

...for a holiday before returning to decadent England with its capitalist pig-dog rulers to live a life of servitude.

[Gh0stFT]

I can afford to buy this $250K home because I only have to pay the interest for the first five years and my payment is only $600 a month. WOW!!!! That's great, where do I sign?? Now five years later that payment jumps to $2000 a month and people are defaulting on their loans.

thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is

[Angus]

Cuba my friend, Cuba. Everybody has a house, job, and free healthcare.

And....cigars.

They are believed to do wonders in the oddest of places, and do not forget the Cuban 8

 

[Hornet33]

thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is

Hell no it's not a joke. I know 5 guys in my old command who are about to declare bankruptcy for that very reason. They bought home on an intrest only loan for the first 5 years figuring they would get transferred after 4, sell the house, and not have to worry about making any payments on the principle. They looked at as a way to get a real nice house for cheap rent. Well they didn't transfer out of the area, and now it's come back to bite them on the butt. Once they file, they loose their security clearance, their careers in the Coast Guard are on the line and it's all because they were not finacially responsible.

[Dowding]

It depends Ghosth - if the buyer had that explained to them at the time of purchase, then frankly, I have little sympathy. If they were not told how it would work then, while I think the buyer was naive, the mortgage provider was negligent maybe even criminal.

In the UK, there was a similar thing with endowment policies where people were sold them, but were not told about the risks (they were stock exchanged linked in some way). I think when it comes to financial products that are so critical to people's lives, people should be given all the information to make an informed choice. If they are given all the information and make a bad choice - well, that's the way the cookie crumbles.

[FiLtH]

    If these people spent the day working like the rest of us, they could afford a house. What a bunch of airheads. Sure they all want communism, that way they can sit around and complain and not feel guilty for not working hard.

    Thats why Stalin was such a hard case. Its the only way to get a bunch of lazy thugs to do anything..a gun to their head.

[Gh0stFT]

It depends Ghosth - if the buyer had that explained to them at the time of purchase, then frankly, I have little sympathy.

firyst i'm Gh0stFT and not Ghosth

i see it different, if you try to get a new car here, lets say a good BMW or a Mercedes, heck why
not a new Ferrari Your credit card Status will be checked, your debt, your incomming, questions about
your job, maybe you live allready on the edge ect. then you cant buy/rent it for a monthly fee, because
of the risk. Bar ca$h paying is a different story.

Dowding, imagine you sell products, would you sell it to everyone with 1.) no money 2.)to much Dept 3.) just plain dumb, would you?

[Shuffler]

thats a joke right? who in the world would sell such traps? Such a seller is in my eyes a criminal. No matter how dumb the buyer is

There is the problem..... the loan institutions are floundering now because of pulling that scam and the government is talking about bailing them out with our money. Let those loan institutions fail. Let those folks lose their home. The only way out for them should be by their own means not with money stolen from me by the government.

Note I say THE govrnment not MY government. The US government has not been for the people by the people for a long time. Just a bunch of disconnected head in the sand indigents.