You mean all those stupid bastards who bought houses they couldn't afford and then walked away from the payments?

- Peter.

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Formerly...
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Republicrats or Demopublicans? Name your pork provider.

Just get the dang job done and get those silly-assed politicians to quit one-upping and ladling pork for their buddies. That's how we got here.
--------
Dodd wanted to put money in for community action programs of some sort.

Oh joy. They haven't worked yet, let's throw more money we don't have at them.

If they don't ladle pork to their buddies, their buddies don't ladle pork to them. Not a bad idea but here is the problem. What happens when your politician's pork benefits YOU? If your guy didn't ladle it out to some others, now he doesn't get his ladle of pork. IOW YOU don't get the pork from your representative. Will you vote for such a politician? Most won't.

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I hear they are going to change the name of the bailout to "the 700,000,000,000 Dollar tax cut" and run it up for a vote unmodified.

Face it, the 'masters of the universe' paid those taxes, and that's just not very fair considering now is it.

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-Marty

1986 300E 220,000 miles+ transmission impossible
(Now waiting under a bridge in order to become one)

Reading your M103 duty cycle:
http://www.peachparts.com/shopforum/showpost.php?p=831799&postcount=13
http://www.peachparts.com/shopforum/showpost.php?p=831807&postcount=14

Or it could be that the popular will ( which those of you who want to get rid the of electoral college hold as sacred) is running so strongly against the original bill that the dems NEED the repubs as "cover".
So should our elected representatives do what the majority want, or should they do what they think MUST be done to save the economic system from collapse?

And why was Acorn to get bags of money in the original Bill?

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

No I mean all the ones who decided to offer loans that they knew people couldn't pay, then packaged them together and added insurance that could never cover the loans if they should default, then call the packages excellent investments. Plus the ones who bought the packages believing that they were essentially free money instead of using their common sense and now want someone else to get squashed by the packages they stupidly bought.

The stupid bastards who bought the houses aren't going to be filing any capital gains. Unless being homeless is some kind of capital gain.

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1984 300TD

Not disputing that the characters at the top of the foodchain are, at the very least, immoral for taking advantage of people. I hope that some can be prosecuted or at least forced to give back bonuses.

But don't discount the wink-and-nod by the homebuyers. Not all of them were witless and gullible.

And don't let the politicians who set this thing up get of, either. They were the ones who, through their offices, encouraged banks to make subprime loans.

There is plenty of poop for everybody.

B

If those are the only choices, then they have to do the latter.I have no idea.

+1
I don't discount the homebuyers, although in this country most are witless when it comes to finance. Most figured they could refi and make some money too. It's just a matter of scale. They could only screw themselves, maybe as much as their neighborhood. The other players though, they screwed millions of people, eventually all Americans and some foreigners.
David Brooks was saying on PBS that Americans are really going to hate it when they find out some of the bailout money is going to go to Japan and elsewhere.

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1984 300TD

That is very well said. Explains that issue, concisely. What really happened.


If it is explained slowly and over and over again, so the dimmer bulbs amongst us then finally can understand it - (and understanding will come to them far slower than at the speed that they move their lips,) - then a national recognition of the debacle will dawn

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2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

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2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

.

No, the stupid bastards that gave the money to the stupid bastards that bought too big of a house and couldent afford it.

Or how about the stupid bastards that have loosened the regulatory rules
that let the stupid bastards, give the money to the stupid bastards.

By the way, how much is you mortguage payment ?
How secure is your job ?
Are you feeling ill, and maybe need to have an extreamly expensive, bankrupting, hospital stay ?



RichC

.

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When the power of love overcomes the love of power the world will know peace.
Jimi Hendrix

I only have one small disagreement with you:
"Or how about the stupid bastards that have loosened the regulatory rules
that let the stupid bastards, give the money to the stupid bastards."
bold added for emphasis

In reality, the stupid bastards who loosened the regulatory rules, actually REQUIRED the other stupid bastards to give more money to the stupid bastards.
This is a problem when government spending is used to buy political power. In this case, the dems were buying votes by forcing lenders to make mortgages that did not meet their financial requirements.

It was not a problem of deregulation as much as it was caused by political motives.

In other cases its the repubs who send money to their friends. The difference is that in this case, it has the potential to bankrupt the country. All this from a party that promised the "most ethical" government in history. Speaker Pelosi should lose her leadership position.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

Fannie Mae Eases Credit To Aid Mortgage Lending

By STEVEN A. HOLMES
Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

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 addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

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01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
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11 Harley Davidson 883 SuperLow

A great percentage of these risky loans were made to illegal immigrants. How do you defend that?

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

Good find. Investors want to keep the ridiculous growth going. Banks, et al. want to make more loans. The group goes to Washington and find Clinton, as Republican as a Democrat can be.






Who's defending the making of these loans to anyone?

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1984 300TD