Maybe it will, but I think that reducing spending and concurrently raising taxes on the very rich will demonstrate to Wall Street and foreign investors buying long-term government obligations that we are serious about controlling our out-of-control debt problem....this in turn could lead them to invest in U.S. industries, creating more jobs and thus more tax revenue....worked for Clinton....
Please, everyone down the pike was telling them that the real estate market was gonna keep going up...up..up....everyone was at fault....the borrower who believed the bull, the real estate agent who assured them it was a safe bet and in many cases, misrepresented the terms of their loans with low introductory ARMs that were heavily leveraged and the lenders who made money by making these loans and then selling them off as 'safe' investments to pension plans at firms now being bailed on the taxpayer dime....it's a en crime...
Sorry Dan...but lying about your finance and taking on variable rate mortgages is the fault of the buyer. If the people have no integrity you damn sure can't expect anyone else to have it.
Accountability here....the buyers share reponsbility. Stop expecting the GOVT to wipe your ass...that's not it's job.
Who had to lie? Lenders were making loans without any proof of income or even a job...
So why is the gov' ment bailing Wall Street? Ah, yes, free market capitalism is great, until the hits the fan....then that free market ....right?Accountability here....the buyers share reponsbility. Stop expecting the GOVT to wipe your ass...that's not it's job.
It all starts with the borrower though...if they aren't there nothing else happens.
I'm not saying that the borrowers don't share some responsibility, but you have to admit that there was a lot of hype in the media and other places over continuously rising prices and what a safe bet these investment where, so a lot of people bought houses thinking that if they couldn't make the payment in some future date, they could always dump the house at a huge profit...and it worked for many years, but then mother reality came in and stump these investors and weak borrowers in the throat...
Some of them were...but a lot of people lie. I know...I was in the Real Estate business for 2006. The agents try to help them lie too...
It's easy to lie when the market became so unregulated and lenders were making easy-loans to anyone who applied...
I agree that there were more at fault than just the borrower...but it does start with them. I just bought a new house 2 yrs ago and thought that the amount that they preapproved me for was ridiculous. I ended up buying a house that was half of what i was approved for (and that was just for a 30 yr fixed, I can only imagine how much they would have approved me for if i had asked for an adjustable rate interest only).
Bottom line is the buyers need to know how much they can afford.
Oh I absolutely agree with that. Austin was considered the hottest market in the country when I got into it, that was all anybody was talking about and I didn't make a ing sale for the entire year....plus I ended up 9 grand in the hole. I was likeis wrong with this picture...something aint right here.
The agents and builders were extremely agressive at recruiting home buyers as well....I mean a level of agression that you would not believe to get prospects. Tons of money was being put into just that.
Some of these agents were signing up for strongarm prospecting programs that cost 9-10 thousand dollars. But still...people were looking to get houses beyond their means, and they were willing to lie to do it. With a variable interest rate...
My point is that it's not all on the government or the lenders...it's on everyone, including the people. And I feel that is an important point to make...because you aren't going to see it made in the media or by the politicians.
....it was a racket..and tons of people were making money off these suckers...the real estate agent, the brokers, the lenders, the stock-brokers...and who gets stuck with the huge bill? .......the taxpayers...but it's all a function of a weak government, that why we have government, so that situations like this don't manifest into huge costly cluster- s..
This whole crises is the Democrat Congress' master plan.
Talking out of your ass gets you no where, but it sure exposes you...
LOL...the Democrats do a much better job of destroying the Democratic talking points than the Republicans do...it's like a hotknife through butter.
A rich lady named Rothschild says Obama is an "elitist"? What does that even mean? Is that some sort of ironic elitism? Because he got an Ivy League education? Since when is an IL education a bad thing?
Idiot...she didn't call him an elitist because of his Ivy League Education...she's got a law degree from Columbia herself.
I'm wondering how many of the defaults aren't sub-prime to families, but sub-prime to flippers?
THEM.
Then what makes him an "elitist?" Because in her mind, his supporters don't like NASCAR or go to church every Sunday? She wouldn't be caught dead hanging out with your typical blue-collar social conservative Republican.
I've always thought that the perfect punishment for Ann Coulter would be permanent exile to Mississippi, where she'd be forced to interact with her fellow Bush supporters, and she could no longer torment the "liberal elites" whose social values she shares exactly.
You really are a bigot aren't you?
I've always thought that the perfect punishment for Ann Coulter would be permanent exile to Mississippi, where she'd be forced to interact with her fellow Bush supporters, and she could no longer torment the "liberal elites" whose social values she shares exactly.
Spend a lot of time thinking about Ann Coulter do you?
"Haven't spoken to Hillary".
Me thinks she doth protesteth too much...
LOL. Make it so.
Didn't Bush and his sychophants use the schtick that home ownership was an at all time high therefore his economic policy rocked. Haven't heard that much about it anymore.
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