Harry Reid is a partisan jerk (Limbaugh, salary, Pelosi, Boxer)

[anifani821]

This is ridiculous. This man is unbelievable! Blaming the White House for foreclosures!

I personally do not think we should be bailing out people who bought homes they COULD NOT AFFORD, lied on loans (no doc loans), knew DAMN WELL they could not afford a $500,000 house on a $50,000 salary . .. and now the DEMS are saying - we are supposed to bail them out?

People who got themselves into these messes b/c they signed Funny Money loans should go into bankruptcy like the rest of us would have had to do 10 years ago if we decided to walk from loans or lied on documents and couldn't make our payments.

This is unreal! Why should OUR TAX DOLLARS bail out irresponsible people???

[southernnaturelover]

I hope the people of Nevada kick his ass outta there. Honestly, the man acts like a 12 year old.

[WillysB]

I can't imagine prostitutes voting for him. He gets in front of a camera and all he does is whine about everybody else.

[anifani821]

Why is the media even allowing him coverage? This is ridiculous. The only station being non-partisan about this whole debacle is CNBC. At least they are calling Reid's partisan rants what they are - partisan hooey.

[igloo]

Originally Posted by southernnaturelover

I hope the people of Nevada kick his ass outta there. Honestly, the man acts like a 12 year old.

When does this idiot's term run out? Man, Nevada should vote him out for sure when the time comes. Same goes for other states that can vote out Pelosi, Feinstein, Boxer, Frank, etc.

[anifani821]

Originally Posted by igloo

When does this idiot's term run out? Man, Nevada should vote him out for sure when the time comes. Same goes for other states that can vote out Pelosi, Feinstein, Boxer, Frank, etc.

What is so weird to me . . . people acted all freaked out about Romney being a Mormon - but so is Reid!!! Wonder why Reid has managed to stay in office? The man is mean spirited and totally self-involved.

[Donn2390]

Originally Posted by igloo

When does this idiot's term run out? Man, Nevada should vote him out for sure when the time comes. Same goes for other states that can vote out Pelosi, Feinstein, Boxer, Frank, etc.

Why would you think the people would vote out an incompetent idiot? Look around, the states are full of them, and they keep getting reelected. They take office, take our money, and laugh at those who call them incompetent..
"Call me what you wish, but I'm living the good life on your money, so ********* all...!"

[shannon94]

Ok people stop listening to Limbaugh and give me some specific issues and examples of how you disagree with Reid.

Alot of these mortgage offenders that are in trouble are also wealthy flippers ....you've got all sorts. It's the friggin lenders that are being bailed out.....I think Washington KNEW this was going on for a looooong time and did NOTHING!! Now we're "coming to the rescue"!! I'm not happy about the bailout either. I took out a traditional mortgage and only spend 10% of my income on my payment.....weeeeelll below the standard. Now I have to worry about losing my job if this bail out DOESN"T go through!Damned if you don't ....damned if you do. I think these CEO"S need to lose their jobs and take NOTHING from this!!

[EDnurse]

Originally Posted by anifani821

This is ridiculous. This man is unbelievable! Blaming the White House for foreclosures!

I personally do not think we should be bailing out people who bought homes they COULD NOT AFFORD, lied on loans (no doc loans), knew DAMN WELL they could not afford a $500,000 house on a $50,000 salary . .. and now the DEMS are saying - we are supposed to bail them out?

People who got themselves into these messes b/c they signed Funny Money loans should go into bankruptcy like the rest of us would have had to do 10 years ago if we decided to walk from loans or lied on documents and couldn't make our payments.

This is unreal! Why should OUR TAX DOLLARS bail out irresponsible people???

I'm not going to argue that any politician is a jerk.

Having said that, please read, inform yourself. This bailout is for investment houses, banks, mortgage companies, brokers, etc. The biggest problem are the mortgage backed securities they issued and sold in packages that they knew were worthless.

If you watched CNBC yesterday, you should have heard that there were FIVE investment houses (Lehman Bros., Bear & Stearns, Merrill Lynch, etc) who in 2004, requested from the SEC (basically the executive arm of the govt), an exemption that allowed them to borrow more money than they were allowed under the law. They then issued mortgage-backed securities (stocks) that they knew were worthless and sold them as AAA stocks (there are three companies that handle the rating for stocks). It is this worthless paper (aka as debt) that is causing the biggest problem. That isn't all.

These mortgage backed securities were sliced and diced (broken into different pieces) and mixed with other legitimate stocks and sold to greedy dumbasses who didn't do their homework and hence didn't know what the heck they were buying.

The president's plan is to move this heap of worthless paper to the balance sheet of the govt and give the taxpayers money to these crooks with no questions asked, no regulations, and no liability. Also, Bush wants to keep the golden parachutes in place.

Yes, a lot of homeowners didn't pay their mortgages when this Ponzi scheme crumbled, but that is just the tip of this mammoth iceberg.

If you're looking to blame somebody, there's plenty of blame to go around. But the president's hand is in it too.

To assign blame on homeowners alone is overly simplistic and a ploy to hide the whole scheme.

[anifani821]

Originally Posted by EDnurse

I'm not going to argue that any politician is a jerk.

Having said that, please read, inform yourself. This bailout is for investment houses, banks, mortgage companies, brokers, etc. The biggest problem are the mortgage backed securities they issued and sold in packages that they knew were worthless.

If you watched CNBC yesterday, you should have heard that there were FIVE investment houses (Lehman Bros., Bear & Stearns, Merrill Lynch, etc) who in 2004, requested from the SEC (basically the executive arm of the govt), an exemption that allowed them to borrow more money than they were allowed under the law. They then issued mortgage-backed securities (stocks) that they knew were worthless and sold them as AAA stocks (there are three companies that handle the rating for stocks). It is this worthless paper (aka as debt) that is causing the biggest problem. That isn't all.

These mortgage backed securities were sliced and diced (broken into different pieces) and mixed with other legitimate stocks and sold to greedy dumbasses who didn't do their homework and hence didn't know what the heck they were buying.

The president's plan is to move this heap of worthless paper to the balance sheet of the govt and give the taxpayers money to these crooks with no questions asked, no regulations, and no liability. Also, Bush wants to keep the golden parachutes in place.

Yes, a lot of homeowners didn't pay their mortgages when this Ponzi scheme crumbled, but that is just the tip of this mammoth iceberg.

If you're looking to blame somebody, there's plenty of blame to go around. But the president's hand is in it too.

To assign blame on homeowners alone is overly simplistic and a ploy to hide the whole scheme.

You have not read my other posts or you would know I am fully aware of the secondary money market, securities and how we got into this mess.

I have been predicting this since late 2005.

My point is . . . what is going on is TOTALLY PARTISAN w/ the legislation that needs to be created to address this problem.

There is absolutely nothing helpful about Reid, Pelosi, Frank and Dodd being rabidly opposed to even listening to OTHER STRATEGIES.

And yes, I have listened to CNBC, as I do EVERY DAY. And if you will listen to them, you will quickly realize that marking to market is nearly impossible at this point and we don't even know what toxic accounts are mixed into this debacle at this point.

So I return back to what I said to begin w/ . . . Reid is blathering as much partisan HOOEY as could possibly be inserted into this situation. This problem did not occur b/c of Republicans - this is a big problem that starts w/ investments, spills over to Wall Street and ends up on Main Street. Yet, Reid is out there spreading discontent and blaming Republicans for wanting to take a very close look at ALL AVENUES for addressing the credit situation.

That is what I am opposed to - this type of partisan BS. It is NOT getting us closer to solutions.

And I do agree with you - no use arguing whether or not ANY Politician is a jerk, LOL.