June 24, 2008

HousingPANIC Quote of the Day

"Congress wants to have a nationwide housing bill ready by July 4. That's ironic, since not much about its bipartisan legislation seems to foster independence. Quite the opposite. Capitol Hill's attempt at helping Americans saddled with mortgage debt amounts to little more than a bailout."

- Peoria Journal Star editorial board, June 2008

(Sorry Chris Dodd, your corrupt POS lender and gambler bailout legislation ain't playin' in Peoria)

35 comments:

Anonymous said...

Keith,

You are opposed to the bill yet you support Obama. How come?

Obama supports the bill. Under his administration this bill would be only the begining. He will throw money around and buy everyone a house. Then when he's done buying everyone a house, he will buy them all some of that free health insurance. And then maybe some free drugs. And then some free gas.

Seriously dude, you are so contradicting yourself. Obama is the most liberal senator. He is a socialist and a proud one. If you think the housing bill is a bad idea and are an Obama voter your either a) have no clue what the hell is going on in the world or b) are insane.

keith said...

Obama is wrong on housing, as he's wrong on many other economic issues in my book

However, McCain is REALLY wrong on even bigger issues, especially foreign policy and social issues

Selecting a president in a two-party system means picking the one who you disagree with the least. And HP'ers like me, who are independent and libertarians, never have a viable horse in November.

That said, if McCain had courage he'd be leading the charge against this bailout. And yet barely a peep, as he stupidly still thinks he needs to kiss the ass of housing gamblers and failed flippers. Missed opportunity for him. He's as tone-deaf on this one as the GOP was on Schiavo.

CONVICT DODD AND CONRAD said...

HOW APPROPRIATE, THE NEWS SITE WITH THAT ARTICLE, HAS BUILDERS PROMINENTLY ADVERTISING MCMANSIONS ON THE SAME PAGE...

DOPES!

Owner Earnings said...

Keith, it may be quite some time before Mozilo is brought to justice. Stay the course for us.

theloknesmonster said...

Selecting a president in a two-party system means picking the one who you disagree with the least. And HP'ers like me, who are independent and libertarians, never have a viable horse in November.

Write somebody in then. Voting for the least disagreeable solution seems as pointless as not voting.

If the election results show that enough people voted, but didn't vote for the republican or democratic nominee, then that might be the push that could get the ball rolling to eventually upset this two-party bullshit system.

It happened in Minnesota with Jesse Ventura, don't think it can't happen nationally, especially now that things are so chronically fucked up.

You like to use the term sheeple in describing anyone who goes along because they are either misinformed, or don't care enough to change the status quo.

Voting for a candidate whom you consider to be the lesser of two evils is no better. Vote Dem or GOP when you don't really want to reeks of Sheeple.

Don't waste your vote. Use it as an opportunity to voice an opinion. If you think there is someone out there capable of doing a better job, write them in...

Nick said...

Let me tell you folks on this board again; there will be a housing bailout whether you like it or not. If the government doesn't help borrowers then the entire economy would collapse so HP'ers, it is in your best interest to have the government intervene.

USA is dead said...

And I want honest, at least not openely bribed (Dodd, et. al.)
politicians, Bushco-Cheneyburton impeached, re-arrested and convicted of their high crimes and felonies and two new California Senators as well as an intelligent house speaker.

Think we can 'get er done' by the 4th?

Dodd, you're doomed. Did 'Vice President' used to ring any bells?

Call Orangeman for clarification.

Anonymous said...

Boy, Keith, once you drink that Obama-Aid there is no turning back, eh?

Anonymous said...

July 4th sounds like a good time for a revolution

Anonymous said...

So if I bought a house in 2000 for $200,000 and refinanced in 2006 for $600,000, do I get to keep the Hummer and house in Costa Rica I bought with the proceeds when the bank writes down my loan?

Banana Republicrat said...

C'mon Nick, you can't honestly believe that the bailout is for saving the borrowers. You're right about the economy depending on a bailout, but the homedebtors are easy to save, they can just walk away. It's the banks that need someone to cover their losses.

Unfortunately all they have to do is call up HelicopterBen and he has to sign a blank check to them.

The question is will borrowing/printing more money for this bailout be worse for the country in the long run?

Anonymous said...

DODD should resign immediately!!

Furthermore, this bailout is about to cost taxpayers BILLIONS if not TRILLIONS, and there has NO EFFORT by the mainstream media to dig deep and educate the public on the wool that is about to be pulled over their eyes!!

Someone should start a NO SPIN financial news network that would actively report to the PEOPLE of this country without agenda or spin. We will all wake up penniless if we don't act fast to stop this insanity!!!!!!!!

Anonymous said...

So if I bought a house in 2000 for $200,000 and refinanced in 2006 for $600,000, do I get to keep the Hummer and house in Costa Rica I bought with the proceeds when the bank writes down my loan?

----------------------------------

If you are "rich" and make more than 80k per year, then no. the bailout is not for the "rich" you fool.

Reality said...

Nick,

Since you are again threatening us with "economic collapse." Pray tell what does "economic collapse" mean to you? That you can't buy stuff that you should not have bought in the first place? That you will have to find a real productive job instead of reaping hundreds of thousands of dollars a year as a mortgage lender without even doing your most basic duty of screening borrowers?

Fart, belch, burp, ball scratch said...

"Anonymous said...
July 4th sounds like a good time for a revolution"

That makes two of us BUT remember, July 4th has degraded into:

Fat, Dumb Wal-Mart shoppers to celebrate by filling up the SUV-Monster truck with 10x as much food as they need for the BBQ orgy-fest brought to you by those two handsome charmers running the country Bushco-Cheneyburton.

Spend those 'rebate' checks sheep.

American sheeple people are too fat and dumb to march, nevertheless THINK. They wouldn't find the RV point and would pass out from physical excersize just getting out of the truck.

Admit it - We're doomed.

Obama or McCain? how about
Hitler or Stalin?

Fart, belch, burp. Joe SP

Anonymous said...

Blogger Owner Earnings said...
Keith, it may be quite some time before Mozilo is brought to justice. Stay the course for us.
-----------------------------------
What? Since when do rich people in the USA have to obey rules. Everyone knows rich people in the US are above the law.

Anonymous said...

If this thing is signed into law, I am quitting and working off the books.

gutless and lazy not in debt said...

The "bailout" is essentially bribery on a massive scale. It says Overspend some more, and I'll bail you out (give welfare) to debt addicted Americans.

If it goes thru, the failure of America is complete. The downfall and misery will soon follow.

Anonymous said...

Keith,

I think McCain is not as bad as you think. But be that as it may, you supporting Obama is counterproductive for a self-described libertarian. You don't like McCain, OK, I can accept that. But Obama? I mean come on man, he is the antithesis to libertarian. If McCain is a C-, Obama is an F- on libertarian issues.

anon666 said...

The 'lesser of two evils' approach to voting supports the two party system.

How about None of the Above?

http://www.nobodyforpresident.org/

"Nobody is another way of saying "None of the Above" and should be included on voter ballots.

If a majority of people voted for "None of the Above" rather than, "the lesser of evils," it might force a situation where Voters would have to find someone competent to lead them.

The Birthday Party's Nobody for President Campaign is a humorous approach to elections designed to encourage people to register and vote. Nobody is NOT an endorsement of mass apathy. Apathy Sucks, Nobody for President!"

Anonymous said...

I wonder on which tracking record Keith is basing his assumptions about Obama. Hussein has no record, and voted "present" on most issues. Not only that, when Hussein was confronted by voting with Republicans, even by his peers, he would come up with the lame excuse that the button was pressed by mistake. That happened several times, not one.

Another thing, the only reason Hussein didn't vote for the Iraq war was because he wasn't in the Senate that day. Those are all facts. So I see millions of zombies treating Hussein like he has an extensive tracking record, while in reality he has only a bunch of written speeches by someone else and a teleprompter to show for.

Now I ask you a pertinent question: Would you take your kid to have a brain surgery by a doctor with no tracking record?

Anonymous said...

You people act as if you have, and have had a say in who is leading this country (well, in a way you do...by your actions toward the living God)

Dan 4:17

"This matter [is] by the decree of the watchers, and the demand by the word of the holy ones: to the intent that the living may know that the most High ruleth in the kingdom of men, and giveth it to whomsoever he will, and setteth up over it the basest of men."

If our morals were high and our hearts turned toward the Lord, we would be choosing from true statesmen who had the citizens best interest at heart.
You know, kind of like it was at the beginning of this once great republic.

Edgar Alpo said...

Congrats to CT, the most f@cked up state in the union!

Anonymous said...

A massive home-debtor bailout now signals the end of the already shredded honor system in America. How do we continue to pretend to honor any of our commitments when our government allows, encourages - even PAYS - us to do otherwise, at the expense of the more prudent and conscientious. The system is rotten...finished....I give up.

Anonymous said...

"...picking the one who you disagree with the least..."

Au contraire, mon frere...

We need to accelerate this disaster to get to the goodies on the other side.

McCain's the man...$200/barrel after we attack Iran.

He's got my vote; not out of the purest of motives.

bailout 08 said...

Keith,

You can't be too upset about this, given that you endorse a candidate calling for the bailout. Too many people like you believe voting for a third party is a waste, and it becomes self-fulfilling.

only "Some Republicans, however, are still vehemently opposed to the legislation, which they describe as a government giveaway for reckless lenders and investors." (AP)

DOPES was right. The irresponsible lenders and borrowers get rewarded with the bailout.

Chris said...

I checked the votes in the Senate to see who voted against the bill today. I wanted to point this out because it appears there are a couple senators who are incredibly brave to vote in the manner that they did.

First of all, McCain and Obama did not vote on this bill. Ted Kennedy and Hillary Clinton didn't vote either. Not really a surprise there.

The other no-votes were Allard (R-Colorado), Brownback (R-Kansas), Coburn (R-Oklahoma), and Inhofe (R-Oklahoma).

There were 9 "nay" votes in all. This includes both Wyoming senators (Enzi and Barrasso), DeMint (R-South Carolina), Bond (R-Missouri), Vitter (R-Louisiana), Bunning (R-Kentucky), and Crapo (R-Idaho).

Now for the Senators with the Biggest Balls Award...

1) Jon Kyl (R-Arizona), the current Senate Minority Whip. Senator of a state that includes such cesspools as Scottsdale and Greg Swann. The state is suffering under a massive wave of foreclosures.

2) John Ensign (R-Nevada), the junior senator from a state where prostitution is legal and Texas Hold-Em is a career choice. Nevada has the highest rate of foreclosures per capita in the nation.


I encourage everyone to write to those senators who voted against this bill, even those senators that do not represent your state. It's important not only to write to your elected representatives before a bill comes to a vote, but to also thank them after they have made the right decision.

Anonymous said...

nick said....
Let me tell you folks on this board again; there will be a housing bailout whether you like it or not. If the government doesn't help borrowers then the entire economy would collapse so HP'ers, it is in your best interest to have the government intervene.

It would be in MY best interest if I was being bailed out, not someone who speculated. But wait a minute, Lieberman wants to stop speculation. There's that selective Congressional intervention trying to steer the "free market" again. If I lose my ass trading oil futures, will I be bailed out or do I have to go buy (make highly leveraged risky bet)a house I really cannot afford to be bailed out. I'm so confused. How do I get a bailout? God Dammit, I want my bailout.

Anonymous said...

unbelievable......absolutely unf****** believable. ok deflationistas, is this inflationary? oh yes it is....to the tune of printing 300B more dollars.

Anonymous said...

Anonymous Nick said...

Let me tell you folks on this board again; there will be a housing bailout whether you like it or not. If the government doesn't help borrowers then the entire economy would collapse so HP'ers, it is in your best interest to have the government intervene.

June 24, 2008 2:05 PM<<

nick, its going to collapse anyway so this will not even make a dent. when you have trillions in derivatives, this makes no difference. it is finished. it is over. get ready for it, its coming.

Anonymous said...

Anonymous Anonymous said...

So if I bought a house in 2000 for $200,000 and refinanced in 2006 for $600,000, do I get to keep the Hummer and house in Costa Rica I bought with the proceeds when the bank writes down my loan?<<<

heck why not walk on this mcmansion and move to costa rica....

Jim said...

The bailout is all about helping BoA make a pile when they buy out Countywide.

It will do nothing to keep the bulk of FB's in a house that they can't afford -even at the new FHA reduced principal 30 year fixed.

$400K loan on 60k a year? I don't think so...

Anonymous said...

However, McCain is REALLY wrong on even bigger issues, especially foreign policy and social issues

-----------------------------------

I think obama is pretty wrong too. implementing a "windfall profit" tax on oil companies only to give the tax revenue to those who are struggling to pay their heating and fuel bills?

providing national healthcare? that is great and noble but how are we going to pay for it? we should do national healthcare because we all pay for those who can't afford it. something like 20% of every healthcare dollar goes towards making up for those who don't pay.

Foreign policy? more spending there. he wants us to be policing darfur. His foreign policy does not bring the troops home, from europe or iraq.

obama is no different than mcloser.

Anonymous said...

Now I ask you a pertinent question: Would you take your kid to have a brain surgery by a doctor with no tracking record?

-------------------------------------

liberals would.

Anonymous said...

What? Since when do rich people in the USA have to obey rules. Everyone knows rich people in the US are above the law.

-------------------------

leona helmsly would beg to differ. wesley snipes. mike tyson. and on and on.

Everyone seems to think the rich get rich my cheating. if they do, they don't stay free and rich for long.