you're responsible for the mess.
addendum:
o the housing crisis has nothing to do with the Conservative idea of loosening regulation of the banking market? You learn one thing when letting banks/businesses run free, or deregulated: they will lie cheat and steal to make a buck.
like blocking any legislation during the Clinton Admin to increas oversight of Terrorist money laundering through U.S. banks (the right wing prevented the Federal Government from finding Terrorist money because the banks were making too much money off of it) how hypocritical. Repub Sen Phil Gramm called it a "totalitarian" incursion. Before he retired from the Senate in 2002, he wrote the Gramm-Bliley bill, an act broadly deregulating the financial industry -- and now blamed by many economists for the epidemic of speculation and fraud that has shaken the global economy.
Where is Phil Gramm now? John McCain's economic chair. Since 2002, he has been paid by UBS to lobby for the banking industry. So when people like McCain and Bush say they are drafting legislation to help Americans with the housing problems (i mean disaster), the people who are drafting it are the ones responsible for the deregulation that gave these lenders carte blanche (that means: complete authority) to do whatever the fuck they wanted, with no federal oversight. That is where President Meathead comes in: his administration looked the other way. They are paid by those industries to get elected, they do their bidding.
what does the Conservative media say: it's the borrower's fault for being in debt. so buying a big screen t.v. was the problem. Oh, that keeps it simple. keeps the citizen from really examining the true problem. blaming the borrower is like "she deserved it because she wore that short skirt". Sure we dress like a whore, but that is not justification for rape. lawyer talk: blame the victim. see also: O.J. Simpson Trial, Kobe Bryant Trial, and the trial in that Jodie Foster movie when she was young where she was raped on that pinball machine.
new rule: mortgage lenders should have to put up their own personal money when they make these deals. they don't; they use other's money. maybe they will treat money with more respect then. but all they care about is their commission for making these big, complex adjustable rate mortgages.
isn't funny that during the time when the "economic stimulus package" checks were dispersed, food and gas prices spiked?
what about the lender? well, J.P. Morgan Chase purchased Bear Stearns, a large financial institution with substantial mortgage-backed securities investments that had recently plunged in value. the bigger fish will scoop up the little fish (at a cheaper rate) and the money will still flow UPriver.
see also: Enron, Keating 5.
also, Bush + Bush = Bush
Christian + Meathead = Christian Meathead
simple math, just like the "simple math" done by Enron. Any way to make a dollar (or make people think you are making a dollar)
i am in no part of that crooked industry; that's why I am going to heaven.
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4 comments:
In advance: I am using the term "you" in the same impersonal sense as the title of the post. This is not directed at any individual, simply a reply to the idea that a Christian President is responsible for every person's life decision.
From the article: "A homeowner’s equity is the market value of a property minus the mortgage debt. And homeowners’ percentage of equity has declined steadily even as home values surged during the housing boom due to a jump in cash-out refinancing, home equity loans and an increase in 100 percent financing."
If you don't live within your means, you deserve to get kicked out of your house. If you were dumb enough to get an adjustable rate mortgage when rates were already at all time lows, you deserve to get kicked out of your home. Check your mortgage papers one more time. I can't quite make out the handwriting but I don't think that is Bush's handwriting and it sure isn't God's. Quit buying shit with your credit cards, drive a sensible car, and when you fukk up your life I will be there with my savings to buy the shattered pieces of your life for pennies on the dollar.
Claps slowly waiting for others to join.
I don't think that bush being christian has anything to do with the housing market slump. the two just are not related. i DO think that the american public fukked themselves. we are classic americans...we do everything in excess..drink, eat and especially waste money(i'm totally guilty of all 3). so while the administration did fukk us, we were already bending over, wiggling our ass and asking for it. they simply waited for us to tell them how we'd prefer to be screwed. we can't expect the new president to come running in and save our asses right away. i agree with clint, live within your means. i'm sure things could have been handled much better*smirk* but it's time to stop playing the blame game and to start looking for solutions. but, in order for anything to be "fixed" the lazy ass american public must start accepting responsibility for their own actions. people are quick to bitch and slow to do anything. it's as american as apple pie
I am being lazy right now drinking some High Life. Doesn't this belong on The Green Pill in the first place? Who is the mortgage lender? Who is putting up the money for lending? What does food and gas spikes and economic stimulus packages have to do with mortgages? Aren't mortgages underwritten like life insurance policies? I've been through the sales pitch for an ARM and elected a fixed rate, went through the application, and was approved by the lending institution, who actually also provided the financial backing for my loan. Not my fault the lending company made a ton of bad decisions. Now for the bonus... ARMs aren't/weren't a new idea. Why are/were they being pushed? ARMs shift the interest rate risk to the lendee. Guess what is going to happen to interest rates when they are already at all time lows... they will go up. Simple Economics 101.
I don't even know what to say about comparing a person willing to sign his or her name to a contract to RAPE. Seriously??? Yes, I see the comparison now. Madam, if you would like me to tear your clothes off and force myself on you, please sign here. Mind you, you have all the paperwork right in front of you and can read it at your leisure. You can even have an attorney review the paperwork if you'd like. Just go ahead and sign and I will rape you right here on the spot. Give me a break.
Is the government fukked? If it's not it is damn close. In my humble opinion, it simply reflects the stupidity of the majority of the American populous. We're getting what we think we want. Getting elected is just giving people what they want, for better or for worse, or convincing people they will someday get what they want. When you come up with some solutions, let me know. I'm just tryin' to live.
Anyway, doesn't this belong on The Green Pill? I don't visit that site for a reason...
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