[screw it - I'm posting tonight - there's just WAY too much going on with the housing crash to leave you all hanging...]
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I'm hoping the "I lost at craps in Vegas" movement gathers some steam. I could use a bailout after my last trip to Nevada.
Anyone ever hear of contracts? Anyone ever hear of laws? Anyone ever hear of personal responsibility?
This is just sickening. Yet watch our bought-and-paid-for-politicians lap it up in an election year. Hillary is already on the case, calling for a hilarious freeze on foreclosures. If she's elected president (she won't be), I'm not coming home.
December 03, 2007
Failed housing gamblers planning march on Wall Street on December 10th. What's next, slavery reparations and craps player bailouts?
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there is jesse the pimp jackson whining about crap that doesn't mean crap.......and today we have the I man hitting the airwaves again, saying he is contrite now and sorry about his nappy headed hoes comment, which many thought was funny considering all he ever did on that show was make fun of other people. so now we have the contrite, better , kindler and gentler I man who shows up on wabc with a black jewish female from long island by way of texas. God, can anyone find a more politically correct person to get on his show? when will this political correctness end in this country? it is destroying this country. when we fret and whine about every little comment made by various people, we continue to distance ourselves from the beginning of this country, a time when a man said what he said and meant what he said.....
Exactly the point in my blog post today:
I am dumbstruck that a person who receives hundreds of thousands of dollars to buy something is painted as a victim when he/she doesn't want to pay the money back.And the lender is the bad guy because... gasp!... he wants to receive interest in an amount that would cover his expected losses. These people with crappy credit histories should feel fortunate to receive credit in the first place. Instead, they feel entitled to the same rates that us borrowers who actually, you know, pay our debts receive. This is absolute lunacy.
We are a nation of children, with a profound sense of entitlement and a complete lack of personal responsibility. Just sickening
The dirty truth about the housing bubble is that the last suckers in - people who weren't 'owners' and who bought into the 'dream' even though they couldn't afford it, are the ones getting crushed now. Especially if they were willing to commit a bit of mortgage fraud to get them "on the property ladder"
In other words, Blacks, Hispanics, women, the working poor, twenty-somethings, etc.
Rich Whitey also got killed if he traded up to a McMansion he couldn't afford (with some fraud too), so this should be an equal-opportunity crash.
But when I see special interest groups like Jackson's crying foul and racial discrimination, I ask one simple question:
Who the f*ck signed the loan documents?
sickening
Now I'm rooting for an even bigger crash thanks to these freeloaders!
Keith:
And yet, to hear Mozila on CNBC a few moments ago, everything is just fine. Just fine.
A few highlights: "We need to raise the Freddie limit to $1 million"
My favorite: "we're looking at each loan individually to determine if the customers can afford their current payments"
You know, if they had done that in the first place, we wouldn't be in this mess.
And of course Hillary's onboard. There's 213 electoral votes riding on a bailout of the bubble states.
Oh what a tangled web we've weaved. This proposal by Paulson really isnt going to solve the problem because the problem is multi-faceted: At least half of these homes were bought by investors (therefore they aren't going to qualify for this program) (therefore there will still be massive foreclosures. Homes wont be purchased because the credit crisis isnt going away- this is going to result in lowered home prices to their true value and the idiot morons who got subprime loans will be throwing down their money down the toilet every month as they pay for an asset they will never own and for an asset that is over-valued. Their story will be known as the Money Pit.
What you are hearing in the news is sugar-coating on a pile of Mud. And lets not forget what they are doing to the dollar (How the hell is that good for American citizens)
Keith,
Not thinking this is a race thing so much as a capital poor, poor economic
education thing-people who know almost nothing about really how to handle their finances. I do not agree with the bailout. My husband says it is a sign of how afraid the current administration is of this market crash , for these subprime borrowers are hardly the base of this current administration. This could come under the title of not everyone who shits on you is necessarily your enemy.
I can't believe this could be executed properly-which is much scarier to me. Things are likely to get very bad, and this nonsense can't possibly help this problem go
away, and reeks of lots of unintended consequences.
Anyone who "bought" a home was an investor. And now they've failed.
And correct, this is not a race issue. This is a socio-economic status issue.
However, I think a lot of white 50-something high-earners are getting crushed right about now. But when they get crushed, they don't get kicked to the curb. They just get kicked from Scottsdale to Glendale.
1. i guess the fight against racial predjudice is over now that JJ is marching on wall st.
2. f&%k him!
3. the american dream is something that can be achieved in this country not something that is entitled to every citizen
4. F*&K him!
5. JJ... you are f%^king socialist scum. I dont need my government to "protect me" from the evil lending empire bent on forclosing on my depriciating asset.
6. you think the banks want your stupid depriciating house back so they can not sell it? what the hell is wrong with you man.
7. maybe you should march on the government and ask for handouts, you are pretty good at that.
8. i guess (JJ) the most raciest person in america, no longer has a job now that he isnt shutting down schools for following their rules and punishing children who happend to be black.
8. keith you should get a picture of his house or houses and see just how well being a piece of shit crusader like al gore and michael moore pays. i bet he isn't in danger of forclosure
Keith, you have to do a post on Jesse jackson's home
keith said...
The dirty truth about the housing bubble is that the last suckers in - people who weren't 'owners' and who bought into the 'dream' even though they couldn't afford it, are the ones getting crushed now. Especially if they were willing to commit a bit of mortgage fraud to get them "on the property ladder"
In other words, Blacks, Hispanics, women, the working poor, twenty-somethings, etc.
Rich Whitey also got killed if he traded up to a McMansion he couldn't afford (with some fraud too), so this should be an equal-opportunity crash.
But when I see special interest groups like Jackson's crying foul and racial discrimination, I ask one simple question:
Who the f*ck signed the loan documents?
December 03, 2007 9:28 PM<<<
keith, when the american people continue whining and begging the government to help them, i can tell you that is exactly what the beast will do. that is all it knows how to do. they will come and they will contract with you and they will 'help' you in a way that is not in your best interest and is not in the best interest of our nation and freedom and liberty. the more the beast gives, the more the beast wants because that is the nature of the beast. to get rid of the beast, we must become like we once were....self reliant in all our ways...for you see, it takes two to tango. the beast offers and we accept...we are our own worst enemy.
this proposed 'bailout' if it comes to pass, will only delay the inevitable. for you see, the housing crash is only a symptom of a much larger problem....so many focus on this but it is not the real biggie out there that is scaring people in the know. it is the 400 trillion in leveraged derivatives that is the real secret doomsday problem..
This is Eagle One...calling all Republican Fascists™...hello, calling all Republican Fascists™...thread about bashing democrats, I repeat, thread about bashing democrats...calling all Republican Fascists™ who never made a demonstration against the phony war that costs more than the housing bailout...this is urgent, calling all Republican Fascists™...the eagle has landed Republican Fascists™, i repeat, the eagle has landed...
this just in... maybe 40cents on the dollar
http://money.cnn.com/2007/12/03/news/companies/lennar_morganstanley/index.htm
Jackson is an antique of the civil rights movement. All that the this idiot does is keep his homies perpetualy enslaved by not letting them think on their own. It's called PERSONAL RESPONSIBILITY moron!!! Ever heard of it?????????
Anon 10:03 said "At least half of these homes were bought by investors (therefore they aren't going to qualify for this program)"
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So let me understand this: This proposal by Paulson wont benefit investors (e.g. people who purchased multiple properties, aka flippers) If that is the case, then when their rates reset, they wont be able to pay, foreclosure happens anyways, and the comps in the neighborhood still crash, correct? So how does this help the housing mess?
They way I see it, this will only help a certain segment for a certain period, even though the assets value still rapidly depreciate.
Another question I have is the mortgage securities investors themselves. I dont see how they stand to benefit from this. They're supposed to say "Okay, you cant pay your mortgage, I'll go ahead and give you an extension of 5-7 years? Where is the guarantee that in 5-7 years you'll be able to pay back what you owed plus now you owe me the reset rate!"
Dont they as holders of these loans have a right to sue? And if the US government blocks their right to sue, isn't that the nail on the coffin as far as foreign lnvestors lending the US cash reserves to prop up our economy?
Civil rights activist and CNN talk show host Jesse Jackson is asking for forgiveness after acknowledging Thursday that he had an extramarital affair that resulted in the birth of a daughter now 20 months old.
"I fully accept responsibility and I am truly sorry for my actions," Jackson said in a written statement.
I love it. The minorities and the excluded started to get pissed. LA riots, here we come!
While the pussy white republicans stay whining in front a computer, the poor, illegals, and excluded are marching on the streets of America, waving American flags upside down, as well as Mexican flags. Revolution, here we come.
Enjoy, pussies...and keep whining like a coward in front a computer, while the real people with balls take the streets.
How do you like your GOP and the two secret society oil men in charge? Nice, huh? It will only get worse because the corporate fascists will come after you next to pay the bills...hahaha...bunch of geniuses...no wonder you are a bunch of Arab, Israeli, and Chinese bitches.
Hillary's "plan" is NOT hilarious.
It is hillerarious. Yipe!
I am feeling the rage too. A few people might get bailed out, but not the whole lot of them...even if the govt wants to - and I don't think they want to - it would be too complicated....and arbitrary - open to lawsuits etc. As a country, we are good at talking about issues but not really solving them....
This is an election year ploy...a great way to divert attention from our foreign policy and other seemingly unsolvable isses like healthcare...
Many of these people will lose their houses, several banks are going to go down and a few brokerages, the latter ones scare me more, because it may effect me.
Oh well.
I'm behind on my Hummer payments. Can the Gov bail me out on that too?
This is just a joke people.Might as well send everyone a check who screwed up and gambled on housing.Can you imagine the darelicts that will show up at the march? Probably a bunch of wannabe investors who got their heads handed to them and now want their money back.
Excuse me, but isn't this the same J. Jackson, who, just a few years ago was organizing a protest for more affordable housing, lenders redlining, and denying mortgages to his people?
Where was he 2 years ago when the predatory lenders were starting this mess by giving a mortgage to anyone who could fog a mirror?
Glad you see you Libtard Democrats waking up to this.
this is nothing new.
did you know that jesse jackson used to spit in white peoples food at his restaurant job.???
yeah. he did.
I never noticed his teeth were so bad.
Hmmm. Jessie "hymie-town" Jackson must be getting crushed by his investment, or is getting paid *unknowns* to speak thusly.
Keith,
I knew you couldn't stay away!
You ask very intelligent questions, your a step ahead, that is why HP is a sucess.
You can't even take a day off anymore. Hey, you started it and now you've got to be here for the end. . . .
Regards,
Beignet
Gee, I wonder if there's still time to go down to a lender, get a loan on a drastically over-priced house I can't possibly afford, and then cry about the outrageous contract terms so that someone will have pity on my ignorance about basic financial prudence and forgive some of the debt and convert the rest to a low interest rate that I can pay, and thereby eliminate sensible buyers from buying the property at a fair price and improving their lot n life by purchasing only what they could afford, like their parents did. Hopefully there's still time!
Oh, and I want a new BMW or a Land Rover or Mercedes or Hummer too, with outrageouse lease terms, and maybe someone can bail that out too. And more credit cards! Max 'em all out and maybe get that debt forgiven because I didn't realize that I had to pay it back with such a high interest rate. That information was on the back of the form and nobody told me to turn over the paper, because I'm turn-over-the-paper disadvantaged and I need someone to bail me out please. Help me. Please
Friggin pathetic idiots.
Really. Pathetic. Idiots. At all levels, including good old uncle sam.
I fear we are digging a hole that we will not climb out of without tremendous damage to the precious system our founding fathers built for us.
Pathetic and tragic.
More sickening Housing News. The Run on the Florida Government Money Market Account discussed by Experts and z StateGovernment.Now the accounts are frozen and municipalities had to take out loans to pay teachers last Friday.
Maybe JJ can help them too.
The drama contnues:
Money manager wants to split local government investment fund
snip:
TALLAHASSEE - The private money manager hired last week to save a local government investment fund rocked by withdrawals wants to split it in two -- so $2 billion in risky investments in mortgage funds can be isolated.
Snip:
"The near-term concern, of course, is that there would be another run," said Simon Mendelson, chief operating officer for BlackRock's cash management divison.
Local governments at the meeting quickly raised objections to paying penalties for removing their own money.
Blanton said the groups would be asking Sink to let locals remove cash needed for weekly budget expenses but to also aggressively ask other locals who pulled out to re-invest taxpayer dollars in the fund.
Link is only good for 2 weeks from today.
http://tinyurl.com/3bn6se
Typical liberal race pimps. The idiots don't even know they are pawns of Wall Street just like the environmental movement is a pawn of the energy industry. Liberals are such sheep. Actually they are dumber than sheep.
Poverty PIMP and Master Shakedown artist (where's Rev. AL?) vows a "Fight"...
There is a lot of money on the table on this one, so in come the scumbags en masse. Looks who is FIRST?
Maybe slavery (debt) is a concept whose time has come. Are there any grassy knolls in D.C.?
Let's MARCH. That will do some good, won't it? Maybe get the orange man involved???
Mah man Jesse! He da man! He be teachin me was about Ebonics for sure! I's sendin hib some o dat jingle jangle so's to keep him doin Gawd's work. Praise the Lord!
That's the official racist spokeman for the democrap welfare theft machine. Jesse Jackasson, the typical lifelong democrap race baiting whiny socialist creep.
The march to save speculators, gamblers, liars and Wall Street billionaires. Expect to see the usual Democrat hoodlums like BaCrock Obsama and Hitlary Clintoon there to show their support for Goldman...errr I mean the poor oppressed minorities who were forced at gunpoint to sign those loan papers.
Dec 10th. Hmmm a Monday. Don't people have to work on Mondays? Oh it's Jesse Jackson's people. Never mind.
Where was Jackson when I was paying $9000 a year in interest from 1995 - 2004? Yes J..The banks are run by a bunch of money grubbing crooks...so whats new? The mortgage scam has always been designed to hold a brother down (both White & Black) and has done so for years with no pity.While you are there on the march...ask them why they skim all the interest on the front end and require that PMI insurance.People of all color need relief my man...not just those in Harlem.
Does this surprise anyone? Jesse Jackalson also has a plan to pay for slave reparations by taking 10%out of everybody's Roth and 401k accounts. If Shrillary or Hussein Bobama make it to the White House, you can bet there will be a 100% bailout of the banks, flippers and other assorted REIC stooges along with slave reparations and open borders amnesty. The only thing worse than a Republican is a Democrat
I can just picture the left wing useful idiots marching with their Che t-shirts not knowing that they are saving the bonus of some Wall Street pig. Baaaah. Baaaah. Save our homes. Baaaah. Baaaah.
A sibling o mine just went through handing in the keys.He'll never let on about what he went through.He has no regrets about his credit rating,and knew the risk fairly well.He really believed in his heart He would come out way ahead.
He has a good job,so does his wife,but the change in him is sad.He trusts nobody at all,and though they say things are fine, he ,and his family seem stressed,and regretful.They lost their home.
Countrywide was the lender.
Countrywide was totally unwilling to negotiate.Countrywide could have had a home on their books still valued at the purchase price.
GET IT?Countrywides books required the incrimental raising of the rates because Countrywide was involved in a desperate scheme of 3 card monty. They can't survive with fixed rates.This explains why they would chance a short sale.
Fair is Fair.My brother leaves the game losing his HOME,and adjusting to renting.Country needs a friggen bailout,and it is 100% CWs fault.They made the rules,the loopholes,and knew the risks better than all the buyers.Theywere beside themselves that the country was full of devious realwhores that would bait the crowds,conceal the true nature of the market,and shark the deals.
Along with the Agents came a Media that now plays ignorant.Amedia that trumped it up,and sold it as well as any agent.Mozillo Plays ignorant too.
So when anyone hands in the keys,and says goodbye home sweet home then restarts their lives,and keeps their family together through it all.I say GOOD GAME man.Good game.On the other hand to drag it out by trying to sue,or march on washington shows little common sense.
To all the jive turkey buttwads that think that these buyers ruined the economy .......Too Bad.
As I am hoping for chaos and civil war, I am glad JJ and others will start the ball rolling.
Are these f*cking people for real. I'[ve always been a democrat, but I think Hillary is stepping over the line here. Reggie is just a jack ass. He has no f*cking clue what the hell he's talking about. He should just roll up a blunt and shut up.
Jesse is after the money.He's a realtor at heart ya know.
The banks caused their own demise.The buyers caused their own demise.The banks had to leave in the option of bankruptcy,or reposession in the contracts to lure in the signatures.They blew it,and have been up to nogood for decades.If you don't like paying for the banks F-UPS then don't pay for it.Bu bu bu bu but we have to pay taxes,and we have to invest at the bank,and we have to kick into a 401k,and an Ira,and play the stock market,and and and and and and and and and We voted.
For over half of the working population that stuff never worked out.
Jesse knows all about the white-man's guilt, and how to cash in on it. He (and his PUSH front group) helped themselves to a chunk of the $150 million Texaco paid because some old farts talked about black jelly beans. Justice? Equality? Yeah right, Jackson is about money and power. I'm sure the $13M "gift" Coca Cola gave Rainbow/PUSH was well-spent too. Does any of you Libs/Dems remember what it cost the Democrat party to get rid of him in '92? The price back then was $1.3M, and use of an airplane for two years. The Clintons paid the vig.
Now he's makin' the rounds again and will lean on the Dem front runner to collect another payoff. He's a political gangsta, and a damn good one at that.
Give me that welfare teet!
"fall mountains, fall. just don't fall on me. Jimi 'Nostradomus' Hendrix "If 6 Was 9"
Eagle One, this is republican fascist, we are ready, take our freedom away for the common good.
All hail Queen Hillary.
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Jackson?
Professional shakedown artist!
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Mouth full of marbles Jesse!
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I'm not even going to play the video.
Jesse doesn't have anything to say worth listening to.
He likes publicity and he likes to hear himself talk.
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What about the Liars that stated a false income?
Don't tell me your innocent, that you had nothing to do with your own demise!
Liars, falsifying documents!
And its all the lenders fault???
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Nuthin else to do eh Jesse?
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Please, young deacon, in order to achieve full welfare consiousness, you must repeat the Reverend's homily:
"Whattacha Gonna Do Fo Me...Whattacha Gonna Do Fo Me...Whattacha Gonna Do Fo Me...". Then, when your mind is full of misplaced expectations, the Government hand outs will bring you enternal salvation.
Amen, Brother Jesse, Im a' praying and a' hoping.
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Race bait'n step n fetchit!
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Niga..........please!
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I urge everyone to contact their Congressmen, Senators, and President. This is still a country of, by, and for the People and we need to hold our representatives responsible for their actions. If they don't hear you, you can't expect them to change.
I did it and basically got this BS canned response. I'm posting it to let you know what kind of argument you may receive. FWIW, here was my argument.
1. I make 50% more than the average household income and come nowhere close to being able to being able to afford the median price home (bay area). The market is in obvious need of a correction.
2. Govt intervention in free market affairs has historically proven to be a bad idea.
3. It is unethical to take my money through taxes to help keep someone in a home who could never afford it in the first place. I made a point to say they are not owners.
"Thank you for contacting me regarding the subprime market and predatory lending. I appreciate hearing your concerns on this matter and welcome the opportunity to respond to your inquiry.
The proliferation of subprime mortgages during the housing boom in the last decade allowed Americans who otherwise would have been denied credit to become homeowners. However, many borrowers find themselves unable to repay their loans. As many as 2.2 million households with subprime loans have either lost their home to foreclosure or will do so in the next few years. The problem is particularly pronounced in the high-priced housing market of Silicon Valley, where one in five subprime mortgages ended in foreclosure last year.
There are many ways for Congress to address predatory lending in the subprime market without a full-blown "bailout," as you describe. The Federal Housing Finance Reform Act of 2007, H.R. 1427, a bill for which I voted, would make a number of changes to address the underlying causes of the problems with the subprime lending industry. The bill would require collection of empirical data about the subprime market to better understand how we can prevent abuse, and know which communities are being unfairly targeted. H.R. 1427 would provide for federal funding to nonprofits that provide counseling, financial literacy programs, and education for consumers on savings, managing credit, and predatory lending. The bill also would allow for alternative credit scoring, which enables those with little to no credit to qualify for a regular loan, by permitting them to show their credit using nontraditional methods, such as a steady history of utility or phone bill payment, and a stable employment and housing history. As other bills that address the subprime market and predatory lending come to the House floor, I will be sure to keep your opinions in mind.
Once again, I thank you for sharing your views with me. Your voice is critical in shaping the way I represent our district. I hope that you will continue to keep me apprised of issues that are important to you.
Just a quick lesson for everyone here that thinks every house in the country is worthless:
A house is an asset. An asset is something that has value. The value of said asset (house) varies by several factors, including, for this short lesson, location of asset, use of asset, and condition of asset. Someone who is going to live in a house can value the asset higher, because of their designated use. A house in a more desirable neighborhood has a higher value than one in a less desirable 'hood.
Each and every house in this country is still worth something to someone. Whether it is someone who still wants the "American Dream" to raise their 2.2 children and have a white picket fence, or to an investor who wants to rent the house out to a group of college kids, or to someone who thinks they can turn a profit by fixing and flipping the house.
The purpose of this lesson is simply to remind everyone that every single house/condo/lot that is for sale today STILL has value to someone; they are just waiting for the right price.
For example, a triplex in my market was sold in 2005 for $630K, and has been bank owned and is currently on the market (after one and a half years of price drops) for less than $400K. It will sell soon, to an investor who can easily pay his/her liabilities each month with the income from rents, and in fifteen or so years will, in fact, own the property. That will be a different lesson for a different day.
Check this out: http://mortgagecrunch.blogspot.com/2007/12/any-help-is-appreciated.html
Malcolm said...And of course Hillary's onboard. There's 213 electoral votes riding on a bailout of the bubble states
This could backfire. I live in california which is traditionally a blue state. most people i know who are democrats are in the "have not" and the republicans are in the "have it but shouldn't have it" category, which around here is called FB.
The dems i know are praying for a house crash as it is their only chance to get into a home, and they have no interest in rich people keeping "their" homes. they couldnt be happier to see the republicans kicked out. If hillary starts saving republicans, my dem friends might just have to vote for RP and Cali will go Red for sure!!!!!!!!!!!!!!
This financial catastrophe has become a three ring circus!!!
STOP the bailouts! STOP the wining! STOP pushing the same damn loan programs that got us all into this mess in the first place!
Keith you are so right... Where are the lines going to be drawn with the bailouts!
Eternitus, you took the words right out of my mouth. Responsibility is MIA!
Just take a look at their role models. Homedebtor’s in trouble are simply imitating all of the financial institutions crying out for help.
NO one has been held accountable for this fiasco whatsoever!
Oops... Correction to my last post.
STOP the whining!!!
Anonymous said...
"Just a quick lesson for everyone here that thinks every house in the country is worthless"
Nobody here believes that homes are worthless. They just believe the home are just "worth less." (End of lesson)
Union Launches Campaign for National Boycott of Countrywide Bank
LOS ANGELES (AP) -- A national labor union launched a campaign Monday against Countrywide Financial Corp., calling on members and other consumers to boycott the mortgage lender's banking subsidiary until it guarantees it won't foreclose on borrowers who have fallen behind on adjustable rate loans.
UNITE HERE, which represents more than 450,000 workers in the apparel manufacturing, hotel, restaurant and retail industries, asked consumers not to make deposits at Countrywide Bank and to send e-mails to the company demanding assurances it won't foreclose on borrowers with mortgages that reset last year and this year.
http://tinyurl.com/2es5oc
Keith, I don't appreciate your making light of slavery in the headline. You've just lost a loyal reader.
FreddyinP'town
Let me get this straight, you Republican Fascists fake this scandalous outrage because of another idiotic JJ speech, but you don't give a damn about all the robbery going on in Iraq by this GOP administration. And that fake war is costing trillions of dollars to taxpayers. One more thing, this housing ponzi scheme was created by this administration (and its republican bankers) which needed a bubble to fake a good economy that never existed.
Yep, let's look to JJ video, instead of that mountain of sh!t right next to you that was created by the GOP. With geniuses like you in this country, we're definitely f*cked. No wonder you voted those two freaks into office twice...your IQs must be in single digits.
I didn't make fun of slavery. I made fun of any idiot who thinks the US taxpayer should pay reparations for slavery, something that happened before anyone alive today was born.
It all comes down to people wanting a free lunch. Wanting money for doing nothing. Or wanting to be bailed out for their own poor decisions (and fraud).
I'm politically incorrect enough to call it what it is.
Just plain stupid.
nobody saved our asses when hubby & I lost our first house to the oil crash in the 80's
hard little lesson for 20-somethings to learn
BUT WE DID LEARN
Sold last year after owning for 6 years & put it all in the Bank!
Happy Renters now :)
We'll buy back in after the dust settles
Learn this people-
REAT ESTATE HAS CYCLES !
It's Econ 101 - take it!
Jesse Jackson.
Biggest. Racist. Ever.
>> We'll buy back in after the dust settles.
No, you won't.
You're assuming, wrongly, that after the "dust settles", everything will be back to normal, or better.
Whew! Glad your posting again Keith!
This may be a very interesting news week. I keep hearing about forclosure bailout...they better not bail people who don't read their contracts!
The loan terms and amounts are right there in black and white...
Even if homedebtors try to blame the realtors for telling them they can refi out of a bad loan is just plain irresponsible for anyone to listen to someone on commission, selling them something.
I have no sympathy, is it obvious?
Keith said:"Rich Whitey also got killed if he traded up to a McMansion he couldn't afford (with some fraud too), so this should be an equal-opportunity crash."
Exactly what I've been saying all along....everyone's going down!
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So in other words, some black families got into bad loans by 'possibly' falsifying their stated income.......so this is reason for a bail-out or an investigation hmmm!
Too much blame to go around here!
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I don't care what color,race, nationality, religion..... you lie, it comes back to bite you....it's your fault!
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Jesse knows all about the white-man's guilt, and how to cash in on it.
The only white man's guilt belongs to the dumbass democraps. They're pissing in their pink panties to appease the Rainblow coalition
Jesse Jackson.
Biggest. Racist. Ever.
Also the conscience of the DemoCrook Potty
Jesse Jackson was an almost serious candidate for the Democrats in 1988. That is beyond fucking scary.
HP's
I was going to be nice but f*ck it! Why is it that when someone black talks about what's effecting other blacks and in this case your asses too. It becomes an issue about race. You racist idiots didn't complain when JJ was the first American to rescue hostages from Iraq and Kuwait in the 1990's. Also lets not forget his work in the rescue of the soldiers in Kosovo.
Jessie isn't perfect but damn folks grow the f*ck up!
On with the Crash!!!
Ron Paul 08
RayNLA
To all of the HP'ers:
I told you so! I bought a townhouse that I could not afford for 750K with no money down and with a hybrid loan that would reset in June 2008. I lived beyond my means and people like you (they save money and play by the rules) will FINANCE my lifestyle.
I know FOR A FACT that the banks and government will bail me out because in our subdivision of 60 townhomes, 45 of them are in the same boat as me. They ALL bought with ZERO percent down! The banks and government knows that we can just walk away from our properties and allow them to foreclose on us and the property values for the north side of Chicago would COLLAPSE.
So, once again, optimists win. All of the gold bugs, HP'ers, the world is ending, etc... lose. Have a great day LOSERS.
What about the debt slavery that is happening TODAY!?
After reading the posts of many people much smarter than I (compliment, really), I have come to the conclusion that my Grandfather was RIGHT with 2 maxims he taught me very early on:
1. Don't steal. BUT If you HAVE to steal, steal BIG so you have some loot to defend yourself with.
AND Number
2. Some people are so dumb they just DESERVE to be POOR. That doesn't mean they are ALL BAD, but can be.
Thanks, Grampa wherever you are roaming today...
A Grateful Grandson. I am glad you are not with us now to see your beloved America in this condition. You would be appaled nd picking up arms...
Yo, Hank! Another bad day at the pony track today. How 'bout that bailout, bro? 'Sgood for America.
Oh, and I just flushed some dough down the bowl on some lousy options trades. Be a sport and include that, too!
How did Jesse spend so much time with Martin Luther King and never learn to speak comprehensible english? Before you can even figure out if what he's saying makes any sense, you have to struggle to figure out what the hell is he actually saying. Sheesh.
Wow! Slavery reparations? Where the heck did that come from and how does it apply to the housing crisis? The amount of Bigots in America today, still astounds me. You mentioned If Hilary won you were not coming home -- frankly I think it is just as well you don't. I'm pretty sure a lot of Americans wouldn't want you to be here anyway and wouldn't miss you if you were gone. Go to anywhere you think is better than America. You act as if the bail out is coming straight from your pocket..it isn't. Not everyone caught in this sub prime mess was a greedy, conniving; let's try to get over person. Some just wanted to achieve the American Dream and since most companies have in place different rating systems for different people, this was the only way that dream could be achieved. Not everyone who is involved in this mess has missed a mortgage payment or is behind in payments however, the companies enticed these hard working Americans with Home-ownership dangling from a string. You can't fault people for wanting something to call their own. And for those of them who are doing what they are supposed to -- why not help them and the economy with a freeze? The companies knew once the rates re-set the consumer would loose their shirt but did not care. They just wanted the money. Well they are still going to receive their money they just won't do it at the expense of hard working Americans. Perhaps you might try venting your some of your anger towards the Corporations who knowingly and willfully enticed desperate consumers knowing full well what the end result would be and you might also steer some of that anger you seem to be holding onto towards your ancestors who kept a slave or two if they had paid the reparations like they promised, it wouldn't be a burden on your should today.
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