Why.... uh.... thank you Steve!:p

I'm blushing.

TCS is a very good site... www.techcentralstation.com

Viewpoints wander the spectrum. Stupid name though. You can even post comments to the authors (and read other's.)

Its not about regulation, its about using tax dollars to to pay off individual's mortgages. I am still curious to see how Obama will determine if a person bought a house that they should not have bought (before offering aid.)

Moral Hazard be dammed. Their ain't one. No risk investing. Redistribution.

BTW, Frontline did an EXCELLENT program on the meltdown last night. My only issue was that Barney Frank was made to look like a guru, prognosticator, above it all kind of guy when we ALL know he was in the middle of it. Oh well, it is PBS afterall. Toss Barney another softey, will ya?

Watch it if you missed it.

Mike

BTW, on O'Reilly tonight, Sen Shelby was criticized for being critical of the bail out and (republicans in general) for not offering a solution (instead of being critical. Sound familiar? Dam the democrats are good.

What to do for the poor shmuck who over borrowed? Simple. Renegotiate terms so that the payments are smaller and last over a longer period of time. Or, long enough until the economy starts to improve. Keeps the house in his hands (instead of the bank who does not want it) and keeps money flowing in the economy. Once "toxic" assetts become non-toxic (at least for a while.)
THis will not help everybody, but it will make a huge dent in the problem.

But no, lets use tax payer money to help these folks make their payments.

Problem is, democrats do not want to hear anything conservatives have to say. And they have the numbers to keep it that way.

Mike

SPF,
Yes on the % of GDP. If you look there as well it dropped a bit under Carter, but then went from about 35% when Carter left office to about 65% when Bush Sr left office (a HUGE jump from those 'fiscally responsible' folks). Clinton got it down to about 60% and Bush got it up to about 70%.

The DNC is partly responsible for this mess, and everybody knows it. The GOP is also partly responsible, but a lot of people seem to think that their poo don't stink. Watch - CdC will offer up some repetitive sage wisdom telling me that the truth suffers.:rolleyes::LOL:

Mike,
I'll go check out TCS sometime.

Lack of proper regulation allowed this to happen. Plain and simple. Adding regulation will not fix the current problem though, and neither will the 'stimulus'.

I said the same thing on this forum a few months ago regarding redoing the loan terms to keep people in their houses.

And this $7 pay period tax break is just not going to do anything. The bulk of this is just a bloody waste of more taxpayer money.

While I agree with a lot of what the GOP is saying about this stimulus mess the GOP is now being treated just like they were treating everyone who disagreed with them a few years ago - though I don't think anybody has told the GOP to leave the country yet for disagreeing with the majority.

I keep hoping that one of these idiot parties we have will stop being childish hypocrites. I'm pretty sure it won't be the GOP or the DNC, though.;)

CNBC's Rick Santelli at the Chicago Mercantile Exchange......
 

......this morning said it very well. I'm for another tax revolt! It's what started the movement for independence, after all. Wonder if Hillary agrees with the hordes of people warming up to criticize Comrade Obama (at great risk, I might add, of being called "racists")! Didn't she, after all, indulge in some atonal screeching about liberal "patriotism"?

Time for a 10% flat tax---which will probably bring all forms of tax evasion (legal and illegal) to a screechin' halt and get even MORE money into the Treasury so the liberals can simultaneously buy votes and add (even more) people to welfare roles and the masses utterly dependent on the Gummint!

Yippa daing!

BTW, I haven't paid any mortgage installments in 2 years! Hint: check my birfdate!!!

Ar-ar-ar-ar.

PS: Izzit true (as Rush just said [1:38 p, 2/19/09) that Putin has warned us and (Chavez) not to go down the socialist road to ruin? i.e. "Don't do this----look what it did to Russia!"

PPS: Don't tell me (same source as PS above) that O-frekin'-bama has ordered the statue (bust?) of Winston Churchill removed from the White House! CAN'T be true! But, if it is....well........it tells ya more than you want to know....

Carrion,

Hey Freddie .... agree on the tax issue .... but you might want to Goggle FairTax.org and let me know what you think .
Looks like reading "Atlas Shrugged" needs to be mandatory .... it shows a way out of this mess/coming train wreck .... and the parallels to today are scary .
I heard today that Mayor Bloomberg in NYC opposed raising taxes on the high producers/income people . Probably more self serving than concern for them as I think he is afraid they will leave NYC and then where would he be ? But he did say that 50% of all NYC taxes are paid by 1% of the taxpayers . Here is a perfect chance to implement a little scorched earth policy on our part ... those people should leave NYC , let the city self destruct .... and become a shining beacon to how well Socialism works .
Boy am I thankful I have zero debt and own my home !!

Bush [a closet Democrat] did double the National Debt in 8 years and I, an Independent, did vote for him both times. So I take my share of the responsibility. Some responsibility must go on those who put up Gore and Kerry too. Bush was bad, but the easy best choice over those dummies!

And if doubling the debt in 8 years is bad, AND IT IS! How is doubling it again in half that time GOOD???? And at the present rate, we will easily double the debt in less than 4 years.
Admitting Bush was bad or kidding oneself that he wasn't, is not any kind of a prediction of the new guy. And so far he looks like a brain damaged Jimmy Carter. Or worse, an eloquent Pelosi PUPPET!

Dan

A letter to BO from a real person.....

Dear President Obama:


I want to tell you a story about myself and my neighbor. I have 4 kids, all in private school, that my wife and I have to pay tuition of $4500 per child while my taxes pay for my neighbor's 1 child to go to school for free. But its ok, that was our choice.


Every morning as I pile all 4 kids in the van to drive them to school, I see my neighbor standing on his lawn as the free school bus-that my taxes pay for- comes to pick up his child. But its ok, that was our choice.


When we bought our home, I paid a "point" to get my loans rate down to 5% fixed for 30 years. My neighbor decided to go with one of those "intro rate" loans that, at the beginning , was a rate lower than what I was paying and he did not have to pay the point. But its ok, that was my choice.


He lost his job back in early November of 2008, just after buying a new $10,000 boat. As Christmas came, he told me he was not really looking for work anymore because he wanted to "enjoy the holidays". While my wife and I bought a great xbox game console for $50 for our kids, my neighbor told us they just got the new $399 xbox 360 to go with their Wii and latest Nintendo. Again, not complaining, its our choice. Just seems odd someone out of work would choose to spend money that way.


I asked again (early February) how the job hunt was going and he told me that his unemployment had been extended for a year so he is going to wait until the end of the summer to look for work as he wants to spend time on the new boat. Apparently its pretty easy to fill out the jobless claim forms on the internet to continue to get the benefits. (Doesn't anyone verify that people who get unemployment checks are truly seeking work?)Might not be ok, but that was his choice.


Having 4 kids can be quite expensive, but making the right choices isn't too hard. You would be amazed at the great clothes you can find at the thrift shop. Other Moms ask us how we can afford so many "Limited Too" outfits for the girls-they can't believe how much you can save by staying out of the malls. Now as for boats, we have a great one-a 1979 pontoon boat we picked up for only $1200 (my 2 brothers pitched in on it so it was $400 each). It may not be the prettiest or fastest thing on the water but we have a lot of fun on it. Not complaining, again it was our choice. Just pointing out that people make choices in life, ours was to make sure we could afford our lifestyle.


What I am concerned about is that I have learned about your plan that will take money away from me-a taxpayer-to lower my neighbors interest rate to 5.16 percent. He paid no point for his original loan...he paid an interest lower than me at the start of his intro rate loan...but now I have to pay to help him stay in his waterfront home??? Mr. President, thats not ok, and its not my choice.


I keep hearing how people are not able to afford to stay in their homes when their rates increase, but does that really make them "homeless"?

Here is an analogy that makes my point. Imagine someone getting financing on a Ferrari sportscar that was set up so their introductory payment was only $500 per month. Now when the payment jumps up to a number that person can no longer afford and the car is repossessed-is he considered "car-less"? Of course not! He has already demonstrated he can afford $500 per month in payments-he just needs to buy a car he can afford.


The same should go for people, like my neighbor, who can't afford to live in their house anymore. Buy a smaller home or...GASP...rent! Sell the boat! Quit going away on trips! Cancel the 2 cell phones, the cable, and ...GASP...THE INTERNET!

Its all about choices, I made mine, my neighbor made his. I already pay for mine, please don't make me pay for his.

Freddie, found out why........

--the UK is apparently claiming Obama has snubbed them by replacing the Churchill bust in the White House with one of Abraham Lincoln. Kevin Curwin weighs in:

Yet, President Obama may have deeper reasons for replacing the bust besides making room for good old Abe.

It was under Churchill's leadership that Britain suppressed Kenya's Mau Mau rebellion.

One of the Kenyans allegedly tortured by the remaining colonial regime was Hussein Onyango Obama.

That's right, the President's grandfather.

http://media.www.buchtelite.com/media/storage/paper1203

Dan,
I actually think that Kerry and Gore would have caused us less harm than Bush, though in specific areas I give Bush credit for doing the right thing (right after 9-11 for example) that I doubt Gore or Kerry would have. I think Kerry would have been very indecisive, but doing nothing may be better than making the wrong decision almost all the time like the Bush administration did. There is no way to prove or disprove any of this. Watch, though - I will be called names for even saying it.;)

I did not vote for Obama, and I disagree strongly with the majority of items in this spending bill. Obama is doing the wrong thing - McCain would have done the wrong thing also, but his wrong thing would be a different wrong thing that would have us end up in just as much debt (or more as the numbers indicate that the GOP borrows and spends).

We, as a country, need to wake up and realise that neither party is what we think it is or want it to be. And we need to start voting accordingly.

Steve

Steve,

I am afraid that "We as a country" are no longer relevant. These people will have it so they can't be removed from office except by force within a year or so. Letting us vote is just a way of keeping to many people with the power to actually get rid of some of these fools now from doing it.

Ron :(

I agree that doing nothing would be better than the "Stimulus Plan."
Pain IS going to be felt in this economic downturn. No plan would allow the pain to be felt by those who thought they were beating the system. Instead of by us paying for their corruption.
I think Gore and/or Kerry would have been much worse than Bush. Just as Obama is going to be.
I agree McCain would have made wrong moves too, any politicians available today would.

I think McCain 'took' one for the Party. I think the GOP KNEW they had NO chance after Bush and McCain's career is in twilight, so he was the 'lamb' sent to slaughter. I think the GOP was surprised it wasn't Hillary that got the nod but they had made their bed by then.

Dan

Fine by me...;)

I need a Rambo smiley.
http://forum.cheatmasters.com/images...doublegun2.gif

Chris "What 5.5 million-dollar sweetheart deal?" Dodd just said:
 

"....the banks may have to be nationalized, but THAT SHOULD JUST BE TEMPORARY....."

TEMPORARY? Hoohahahahahahahahahahahhahahahahaha! Temporary? OMG! Now THAT guy's got a sense of humor!

Heeeeeeeeeeere we go, gang!

I betcha that NOT ONE of these magical and miraculous provisions of the First Thirty Days of the Messiah will ever be undone or reversed. (Remember those ACORN voters are reproducing like rabbits!).

This (like our cars) is going to be one amazing ride!

Carrion,

[quote=Bill Bess;921255]It's all bout takin care of da brothers and sister's, we all got ta share da wealth..after all it's only fare, don't ya know!

QUOTE]

You need to share your wealth with those that have less than you do.

After all, they are willing to share their poverty with you.

Only seems fair to me.

[quote=jhv48;923462]
Well since you live in a wealthy community (I used to own a business in the village in Carlsbad) maybe you should start writing some checks.:rolleyes:

Every person I know that was involved in the real estate and mortgage industry the past five years or so were waist deep in fraud. They were lying on loan docs, buying multiple houses when they could not afford the one they live in, cashing equity for cars, boats, sand rails, exotic pools etc...

I was smart and fixed my two houses that my wife and I worked very hard for at 5% five years ago. I was told I was stupid by these idiots that caused this economic crash (along with the politicians that allowed it) because I did not go with an ARM at 3.5%. Well I guess I was right, but now the socialist government wants me to pay for these clowns? Maybe the government should pay for my stock losses?

These people need to lose their homes and become renters. Let the market adjust on it's own. There will be buyers for these properties and the market will slowly recover. I have had to start over in the past, and I never expected the tax payers to come to my rescue. The liberals / socialist are leading us down the wrong road IMO:mad:

[quote=SP01715;923617]
Those involved in proved fraud should be arrested and jailed. And their assets seized. If some redress from that is available for the victims, GOOD. Otherwise the victims should suffer for their own stupidity, OR their complicity in the fraudulent loans.

Dan

Dan, I was being facetious!

Heard part of Obama's Stimulus Plan speech rerun today. It passed, why is he still campaigning for it?
Did note that when he was telling us how desperately we needed to pass the Stimulus, that it would CREATE 3.5 million NEW jobs. Did even liberals believe that BS? In any case, in the rerun speech, he now says the Stimulus will PRESERVE or create 3.5 million jobs.
Liberal math,
ALL jobs, not lost, are jobs PRESERVED. [how many is that? Whatever number they choose to use]
PLUS
It is liberal logic???? that any job preserved IS a job created.

Dan

Nuh uh!:LOL:

Dan