Would it not be better for the Government to lend money at the same rate and the same terms of the original loans?

Isn’t there a precedent already for the Government to get involved in the lending market with the creation of Freddie Mac etc?

hey -who’s this bert convy, and why is he obsessed with sandy berger – hey bert – if that’s the stinkiest poo you have to fling at D’s, you’ve really run out of ammo bud. try shouting “clinton did it, too” instead – sounds a scoche less “cardboard-sign-steetcorner-crazy”, if you know what i mean.

“Our numbers are much smaller, somewhere about 145,000 families is our estimate of who might benefit from this continuation of their existing mortgage rates”

Michael Calhoun, president of the Center for Responsible Lending, a homeowner and consumer advocacy group, on Thursday’s Lehrer News Hour.

there’re this:

Fmr. Republican Chair for Orange Co. CA Pleads Guilty To Molesting Young Boys
http://crooksandliars.com/

jeffrey ray nielsen = dreamcrusher ?

That’s what happens when you try to bully someone and fail. Thanks a lot Bush. You’re doing a heck of a job driving this country into bankruptcy.

That was strange.

Okay

Tenth: Pay off your Chinese debt first. It is the most dangerous debt you have got and you need to get rid of it if you are to rebuild America’s markets. A tertiary economy (Based on services) will work in a country as big as America, you need to build your services quickly.

Should read as follows

Tenth: Pay off your Chinese debt first. It is the most dangerous debt you have got and you need to get rid of it if you are to rebuild America’s markets. A tertiary economy (Based on services) will not work in a country as big as America, you need to build your industries quickly.

Nope, they have soaked the taxpayer for all they can and they now know that their devotion to Bush has caused their constituents to look elsewhere for representation. We’ve seen what happens when we “let people alone” in government. They lie, cheat, and steal with abandon and when they realize that their gravy train is about to end, they jump ship and go to another gravy train and become a lobbyist.

Mark’s Law of Monetary Equalization: A fool and your money are soon partners. -Murphy’s Law

Maybe he didn’t drop out. Maybe enough of us reported him for abuse that TP finally banned them. That’s what we need to be doing with these trolls, ignore them and report them.

In part it owes some of its genesis to the Clinton era of de-regulation (AKA, when the Republicans thought lowering lending standards was just a dandy idea and Clinton, plus mega-institutions which were too-big-to-fail in much the same way as the Titanic was too-big-to-sink were brought back in vogue.)

But, to a larger extent it is due to the conditions brought about under this president. Without the war in Iraq, oil would not have gone up the way it has done, with more money spent on researching alternate energy sources, oil wouldn’t have mattered as much, and without the world’s ill will, you would have an easier time with this crisis.

Gore, would have presented you with a president who can actually speak in public and swing world opinion behind you. Whatever the trolls might think about his environmental policies, they cannot argue against his ability to persuade people without the need for a constant menace.

Of course, a president who can reason with people as opposed to simply threaten them, to the rightwingers, is a weak president. This is because the rightwing viewpoint of the world is a comic book drawn by an idiot. Scientists are evil guys out for world dominance, the UN, which owes a lot of its existance to the US, is a cabal of evil geniuses and there is a war on Christmas. Oh, and torture gets results.

Needless to say, now that you are having economic problems, the rest of the world is at the point where it is just about to tell you guys where you can stick your empire.

If you want to save your economy the following has to take place:

First: Slash the salaries and bonuses of exetutives and directors. These guys are driving Porsches while their employees are getting made redundant. This will be unpopular with all lobby groups because CEOs across the board do not like being held to account and they like their employees about as much as they like cancer.

Second: Introduce new laws based on making sure that people who take loans can pay those loans. What they rightwing idiots on these boards, and everywhere else don’t recognise is that when people en masse and banks start looking threatened, the people who weren’t taking loans but in fact saving money, sometimes lose their money too.

Third: Get a president who wants to be president and who understands that running a country is not easy. GW Bush is known for the massive amounts of leave he has taken, the Republican Congress and Senate were the same. Some of those lazy, incompetent and downright corrupt idiots still have power and are still blaming big government. Big government is not the problem, the problem is incompetent government.

Fourth: Get out of Iraq. Your money is being tied up in a war which is essentially meaningless to you. Iraq could go up in flames, end up being divided up amongst Turkey, Saudi Arabia, and Iran and it would not effect the oil price as badly as having America in the Middle East wasting its money on a war it cannot win because victory is still undefined.

Sun Tzu once said something along the lines of “Victorious generals seek victory and then go to war, generals who lose go to war and then seek victory.”

Fifth: A massive audit of everything Bush has touched, complete with criminal cases being drawn based on the incompleteness of any records. Bush’s Africa AIDS plan was hindered by a lack of bookkeeping and internal controls, the same can be said about the Iraq war, and about No Child Left Behind, it is a pattern. Check to see where you are losing money for no real gain.

Sixth: Bring in environmental legislation to bring America’s products up to world standards at the very least. People aren’t going to buy an American car, if America has a reputation for producing gas guzzling mobile carbon dioxide factories. You might not agree with Global Warming, but if you want your car companies to start making profits again, you had better start acting like you agree.

Seventh: Introduce free public healthcare. You are spending a lot more money on private insurance then it would cost you in taxes to actually cover more of your people. You need that money in the pockets of consumers consuming real products as apposed to running what amounts to a welfare state for insurance brokers.

Eightth: Raise corporate taxes. These taxes are based on profits, and they are too low right now. Higher taxes does not mean less investment in this regard because the companies you will be taxing will still be making profits.

Ninth: Introduce “Morality” customs duties and bans. What these amount to is this: “If you treat your workers poorly, if you ignore environmental standards, if you use slave labour, if your goods have gained a name for trully substandard quality, we will not import from you or we will charge higher duties on those goods we do import.” Be careful of China on this one however, which brings to the final thing you need to do…

Tenth: Pay off your Chinese debt first. It is the most dangerous debt you have got and you need to get rid of it if you are to rebuild America’s markets. A tertiary economy (Based on services) will work in a country as big as America, you need to build your services quickly.

And this is that caused this mess in the first place. If we passed legislation that said a bank could not sell the loan they made, they never would have made the sub-prime loans in the first place. They are now bundling loans into a package and selling them like stocks. The speculators who buy into these packages thought the risk was not that great because the profit was that great. A few defaults didn’t really affect their bottom line.

All these messes we have seen with the financial industry starting with the savings and loan debacle all show that it is time the government needs to regulate the industry. Free market be damned, all the free market has done is allow these crooks to prey on the less astute borrower out there.

Because they have heard from their constituents and they have discovered that their Bush worship has made them ineligible for another term. They know that they will be defeated if they run again so they are quitting now to hop on the lobbyist pig feast.

The second thing, some of the people walking away from these loans are doing so not because they can’t scrape together the payments but because the amount they owe is now considerably more than the current value of the property. This plan does nothing to address the problem created by declining property values.

Lastly, I don’t see how bringing the original lender into the picture helps. They long ago bundled these loans up and sold them off leaving others holding the bag. While I could see some of these features being part of a more comprehensive plan I don’t see where this nets out well as a stand-alone package.

This is the kicker. This is something most people don’t realize. It also works with credit card balances and other loans. If the bank agrees to a payoff of a lesser amount, you are off the hook with the bank but on the hook with the IRS. The bank writes it off as a loss so the IRS needs to collect from you to make up for that writeoff.

As for declaring bankruptcy, I’m not sure you would be able to declare bankruptcy under those conditions. The new bankruptcy bill leaves very little you can write off. Does anyone know if it would apply to an amount due to a bank or the IRS due to foreclosure?

Iran’s President Mahmoud Ahmadinejad has proposed a basket of the world’s strong currencies as a basis for OPEC crude oil pricing.

Speaking at the third session of the summit of OPEC’s heads of state in Riyadh on Sunday, he called on member states to establish a new oil market that serves humanity.

http://www.presstv.ir/detail.aspx?id=31619&sectionid=351020103

bert! so how do you feel being called a satan worshiper by billy o’reilly?

eh?

(merry christmas)

The Democrats didn’t whine about ‘plants’, but R’s are so used to being in a room filled with their own ass-gas that they are whining and whining like a pack of children.

Boo-hoo Republicans, if you can’t face a retired gay general, how can you face Al Qaeda?

-GSD

1) If you’re living in a house and have the means of paying off the mortgage under the terms of the mortgage, you’re a homeowner.

2) If you’re recently living in a house with a mortgage you can not afford and never could afford the mortgage’s terms (including potential ballooning), you’re not a homeowner: you’re a fraud, a fool, and squatter, but you’re not a homeowner.

I’d be glad for the government to help out no. 1 if unexpectedly personal conditions change. No.2, not so much nor the companies that sold you the mortgage knowing that you didn’t have the resources to cover its upside risks.
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