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And the people who lost their houses didn't work their asses off either?...
I'm sure they did, but to buy a home 6-10X your salary is worse than crazy.
Migrant workers making $40K a year purchasing a $500K home and then wondering why they cannot make mortgage payments ???
The sad part is that there are people out there that did nothing wrong and just followed the market and got burned. But those are overshadowed by the ones looking for a quick buck or trying to get whatever they could out of the system.
Too many BAD apples with too many sob stories have clouded people's sentiments towards the few that did deserve help.
Obviously you have no clue because when banks loan out $500,000 mortgages to "homeless people" and take those properties back and they are only worth $300,000.. What "profit" did the banks make? I know from our conversations about Obamas largest tax increase in history that you are math challenged, but this one my 7 year old child could figure out... can you?
You're still on the fact that Obama has never raised taxes on anybody yet... except to let the Bush tax cuts expire on the top 2% incomes...
Why make a loan to a person who obviously couldn't pay it back... with insane variable rates?... if you're so blind to think that the intent wasn't to foreclose... then you deserve to get shafted by your Republican party when they raise taxes on the middle class... which includes you...
I'm sure they did, but to buy a home 6-10X your salary is worse than crazy.
Migrant workers making $40K a year purchasing a $500K home and then wondering why they cannot make mortgage payments ???
The sad part is that there are people out there that did nothing wrong and just followed the market and got burned. But those are overshadowed by the ones looking for a quick buck or trying to get whatever they could out of the system.
Too many BAD apples with too many sob stories have clouded people's sentiments towards the few that did deserve help.
So why would a bank give a $500k loan to somebody making $40k a year?... Answer me that...
You're still on the fact that Obama has never raised taxes on anybody yet... except to let the Bush tax cuts expire on the top 2% incomes...
Why make a loan to a person who obviously couldn't pay it back... with insane variable rates?... if you're so blind to think that the intent wasn't to foreclose... then you deserve to get shafted by your Republican party when they raise taxes on the middle class... which includes you...
It was the democrats, like presidents Carter and Clinton, and their administrations that wanted to force banks to lend to lower income people. Democrats like Barney Frank, chris Dodd and Janet Reno who pushed banks into giving out sub prime loans. so if anyone was trying to carry out your diabolical scenario, it was democrats.
You're still on the fact that Obama has never raised taxes on anybody yet... except to let the Bush tax cuts expire on the top 2% incomes...
wrong.. Obama has signed into law $672B in tax increases.. you can keep ignoring this fact but that doesnt make it not true..
Quote:
Originally Posted by HC475
Why make a loan to a person who obviously couldn't pay it back... with insane variable rates?... if you're so blind to think that the intent wasn't to foreclose... then you deserve to get shafted by your Republican party when they raise taxes on the middle class... which includes you...
The government, since those loans are government insured.. Keep slapping your head, maybe you'll get it one day..
So a grass roots organization is going to force a bank to make a loan to homeless people?...
Since when do banks listen to anybody?... Oh yeah... it was Bush who backed off when told to by Henry Paulson...
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