Federal Government to takeover F-Mac/Mae.

[Pexster]

Have you read anything at all about this or are you just shooting from the hip? This is not about the lenders or the borrowers at this point.

[#43 fan]

It is of my opinion that the government should not bail out companies that make fiscally poor decisions, especially with sub-prime mortgages.

[EXreaction]

Alright, I really hate seeing this silly argument against the lenders or the borrowers.

The borrowers probably took out the loan at the time because they COULD afford it at the time. With the terrible economy, what do you think will happen when those people that could afford these things (not easily) loose their jobs?

The lenders could not keep the interest rate higher than the federal reserve set the rate at, else they would have no business.

This is the fault of our economic system. We setup a system which gives a few people near complete control of our economy.

[jokostel]

Thank Woodrow Wilson.

[outlaw2001it]

As I said earlier, you can thank Greenspan for this mess. I just saw this on CNBC's web-page:
"If the Government does takeover shareholders will be wiped out".
Good, as long as they pay the bill first, I can live with anything else. However, if the taxpayers are paying the price, and shareholders are still getting some profit...that would be f"ed up!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[pickel]

Quote:

Originally Posted by outlaw2001it

I understand that their stock plummeted, and their shareholders lost a lot of money, but I still say that their stockholders should lose everything before us taxpayers flip the bill. If we do pay the bill where is this $25 billion coming from?

My wife and I worked our asses off and now our home is paid off. Screw Fannie, Freddy, and ALL the dumb bastards whole dug their own hole. Some may have had hard luck, but most extended their ass to the breaking point. I say "phuck 'em and the horse they rode in on. Now we have two idiots running for President with two dim wits for VP. I didn't watch too much of the BS convention
cause my stomach turned seeing all those fools playing delegate dumbass in their drunken stupper.
Better tuck your head between your legs and hold on to your ass, cause the schitt is going to hit the fan if the don't get knocked off the grid.

[outlaw2001it]

Personally I think we ought to take care of the first home buyers, and screw everybody else.

[pickel]

Quote:

Originally Posted by outlaw2001it

Personally I think we ought to take care of the first home buyers, and screw everybody else.

I say NO QUARTER !!! Screw them ALL. Why should I or anyone else be responsible for someone else's problems ????? Especially when they brought it on themselves. No pity, no sympathy here.

[EXreaction]

Quote:

Originally Posted by pickel

I say NO QUARTER !!! Screw them ALL. Why should I or anyone else be responsible for someone else's problems ????? Especially when they brought it on themselves. No pity, no sympathy here.

Wow, I hope you remember what you've just said if something terrible happens to you.

Maybe forward that to all of your friends/relatives, so if something bad happens to you, like say a medical emergency, and you can not afford it at the time they will just tell you that it is your problem and they will not help.

[pickel]

Quote:

Originally Posted by EXreaction

Wow, I hope you remember what you've just said if something terrible happens to you.

Maybe forward that to all of your friends/relatives, so if something bad happens to you, like say a medical emergency, and you can not afford it at the time they will just tell you that it is your problem and they will not help.

It already has. As a matter of fact multiple times. But I didn't quit or do STUPID shit and didn't get help from anyone else. I earned my way in this world and except for the disabled, feel everyone should apply themselves to have a decent life and plan for catastrophes. I'm not rich but earn a living wage as does my wife and have squandered many good opportunities in my younger years, moved from NYC to Jackson with an old beat up Austin Healey , no job but survived by my wits.
If these people were in some kind of financial shape to sign on the dotted line for a house, they should have lived within their means and would not be getting shoved out in the cold, cruel world.
I lived thru three serious medical conditions , and thank the Lord, I was to stubborn to give up and throw in the towel. Now, at 63, with my new kidney, I go to work everyday and do my job ( Journeyman Wireman ) not sit on my ass with a monitor in front on me and continue to earn my way , pay my taxes and try to live the American dream til the Grim Reaper comes after my sorry ass.