Paulson Plan: Lazs style socialism at its worst

[SkyRock]

Look.. the republicans and the democrats reached across the aisle on this one.. they showed a willing spirit to work together to bend us over and rape us.

The democrats wanted their socialist utopia paradise ideals to go forward so they wanted the loan companies to be forced to loan to low income and minorities.. the republicans wanted their lenders to be able to suck in even more money so they wanted them to have even more power to lend to normal people who couldn't afford it.

In the end.. it created a demand that was false and a building spree that was too much..  it created a bunch of sleazy "investors" who survived only so long as the bubble stayed alive and it gave homes to low income and minority folk who had no chance in hell of every making the payments 3 years or less down the road.

No way anything like this could have gotten by the democrats unless if had the low income and minority full blown socialist aspect and no way it coulda got past the republicans if it didn't loosen up lending for their fat cats.

Those of us who know what we can afford and didn't believe the inflated prices are fine.. that would beeee...   99% of us.

skycrock is.. as usual.. full of it but Toad took him apart this time.

lazs

This is pretty close to being spot on, except Toad tearing me apart, see my above post.  Toad likes to be an arse hat and insult me personally, even though I have not insulted him personally.   

[Carrel]

Look.. the republicans and the democrats reached across the aisle on this one.. they showed a willing spirit to work together to bend us over and rape us.

No, it was partisan all the way up to Clinton's signature Lazs, led by Phil Graham, who went on to become a lobbyist for the banking industry. And don't believe for one second the Democrats in office actually give a rat's arse about minorities, any more than getting their vote- they accept money from the same lobbyists the republicans do.

[Animl]

Suck it up, croquet. Your unqualified messiah has pile of lobbyist money in his campaign.. remember the promise he broke? He's also picked the Credit Card Company Tool that introduced the new credit card usury free pass for credit card companies as his vice. How convenient.   

Your saints are are hardly saintly... but watching you and the resta the liberal lackeys tryin to spit-shine yer pet turds is informative... yah must love wallowing in the stuff. When are you and yer your turd polishers gonna quit shining up the dookies and start flushing 'em? Pelosi, Reid, Schumer, Clinton, Dodd, Rangel, Jefferson... start flushing your turds, dems.

They are NOT on watch, YOUR party IS, get used to facts. THIS is what Deregulation gets you, get used to that fact too. And Yes Bush is part to blame as he did NOTHING as usual until it's too late. Obviously if he's (and McCain) stupid enough to boast the economy is strong when it's crumbling he obviously won't do something about something he closes his eyes to. Regulation is what he SHOULD have done. But remember,.. even 8 months into the housing crisis Bush claimed the economy is strong. 1 day after McCain says the economy is strong, the folds,.... these are th emost out of touch people I have seen in office in decades.

This is NOT a Lefty, Liberal not Dem fault, get off it. Maybe stop talking politics since you know so little about it.

McCain has proven to be an idiot. He speaks how he knows nothing about economy, yet turns around and thinks he knows everything about economy. The man is sickishly whacked, as much as Bush is.

And BTW,... the people McCain says he's fighting against, those who messed up the economy,.. that's funny since he IS one of those people himself, he's part of that board,... he was on the board that over seeing the economy remember? What, he's going to fight himself now,.. that's smart. Can't beleive the man has a single vote,.. but then the party-liners will give him that if his brain fell out on the floor.

Sheeeesh, I wasn't going to say anything but you people get down right pathetic ridiculous.

[Animl]

not even close.  Would you like to try again?

G  R  E  E  D

Unregulated greed.

[Donzo]

They are NOT on watch, YOUR party IS, get used to facts. THIS is what Deregulation gets you, get used to that fact too. And Yes Bush is part to blame as he did NOTHING as usual until it's too late. Obviously if he's (and McCain) stupid enough to boast the economy is strong when it's crumbling he obviously won't do something about something he closes his eyes to. Regulation is what he SHOULD have done. But remember,.. even 8 months into the housing crisis Bush claimed the economy is strong. 1 day after McCain says the economy is strong, the folds,.... these are th emost out of touch people I have seen in office in decades.

This is NOT a Lefty, Liberal not Dem fault, get off it. Maybe stop talking politics since you know so little about it.

McCain has proven to be an idiot. He speaks how he knows nothing about economy, yet turns around and thinks he knows everything about economy. The man is sickishly whacked, as much as Bush is.

And BTW,... the people McCain says he's fighting against, those who messed up the economy,.. that's funny since he IS one of those people himself, he's part of that board,... he was on the board that over seeing the economy remember? What, he's going to fight himself now,.. that's smart. Can't beleive the man has a single vote,.. but then the party-liners will give him that if his brain fell out on the floor.

Sheeeesh, I wasn't going to say anything but you people get down right pathetic ridiculous.

The rest of the economy is in good shape...the banks are in trouble because of stupid, greed driven mistakes.

Read this article: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&scp=1&sq=&st=nyt

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

That was from September 1999!

In the words of Obama's pastor...."the chickens have come home to roost".

[Animl]

The rest of the economy is in good shape...the banks are in trouble because of stupid, greed driven mistakes.

Read this article: http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&scp=1&sq=&st=nyt

That was from September 1999!

In the words of Obama's pastor...."the chickens have come home to roost".

You don't know what your talking about either.

[Donzo]

You don't know what your talking about either.

Oh really?  Enlighten me, oh wise one. 

Did you read the article?

[Animl]

Oh really?  Enlighten me, oh wise one. 

Did you read the article?

You enlighten me first, I've already done my part if enlightening on many levels. Why don't you take your turn?
Inspire me.

[Animl]

Then you are in fact a freakin useless tool. Anybody that thinks dem's are protecting individual rights needs a brain transplant.

Anyone who think the rep party dind't screw the pooch for 8 years is brain dead.

[Donzo]

You enlighten me first, I've already done my part if enlightening on many levels. Why don't you take your turn?
Inspire me.

I posted the article from 1999....apparently you cannot read or just don't want to be bothered with facts.

You've enlightened us to nothing....except the fact that YOU have no idea what YOU are talking about

[Sixpence]

Yeah, someone put a gun to coutrywide's head and forced them to make bad loans. No one forces anyone to make a loan, that's a load of BS. But they might make those loans if they know they will get bailed out.

I agree with the dems in the fact that if they are going to bail out people on wall street, they should bail out people on main street. They want all this money for the guys making millions, but don't want to do anything for the poor shmoes losing their homes.

I wonder if Bush is still bragging about the fact that more people own their own homes than ever before? All they owned was a bad loan, but it sounded good at the time eh?

[Donzo]

I agree with the dems in the fact that if they are going to bail out people on wall street, they should bail out people on main street. They want all this money for the guys making millions, but don't want to do anything for the poor shmoes losing their homes.

Some of the "guys making millions" are/were members of Congress: http://www.bloomberg.com/apps/news?pid=20601087&sid=aSEtGBXG0C0s&refer=worldwide

[Toad]

Year CPI - Inflation Rate* 
2008 5.0%
2007 2.8%
2006 3.2%
2005 3.4%
2004 2.7%
2003 2.3%
2002 1.6%
2001 2.8%
2000 3.4%
1999 2.2%

Again, there's your annual inflation rate which includes gas and food.

If you can't manage to pay your mortgage when inflation is essentially less than or equal to 3% you should NEVER have been given a loan.

As I pointed out, these loans were iffy at best in a perfect world for the borrower. These people couldn't make a downpayment so they sure as hell were unprepared for a transmission failure in their auto, the furnace in their old cheap homing failing or any of the other normal affairs of everyday life.

Dress it up anyway you like, they were unable to afford these homes from the get-go when the normal ups and downs of life are factored in.

As far as the rumor mongering, that was Crockett. I find it very easy to confuse you two Palinophobes. I apologize for confusing you with Crockett and posting that bit about the rumors.

[Hangtime]

LOL Toad... 'Palinophobes'.. destined to become a lexicon of liberal whining.

 

[Mr No Name]

I know it was COMMON for 125% of the cost of the house to be loaned out... First the real estate was priced at about double its' actual VALUE.  That means people who were risks anyway were given loans for 250% of true value for the property.  Not that many years ago, when real estate and homes were priced closer in line with actual value, it usually required the person who wanted to borrow money to buy a home to have 10% to 20% and decent credit to even hope to get a mortgage.

The impulsive buying on the real estate market (buying simply because 'i am willing to pay anything to get in that home' not based on real value) caused the market to have an artificial bubble... It is time to let that bubble pop... if your poor judgment led you to sign a mortgage that you cannot afford or you used your mortgage like an ATM card - IT SUCKS TO BE YOU!.... if your poor judgment led you to write an excessive loan on over-priced property to a person that was high risk - IT SUCKS TO BE YOU!

I am livid enough over this bailout stupidity to tar and feather those responsible!