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Old 09-30-2008, 01:55 PM
 
26,501 posts, read 17,282,627 times
Reputation: 10406

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That seems the correct way to get the money flowing back into the banks.
They are making this so complicated to screw us once again. You build any economy bottom up, not top down. Bush is telling us to be afraid...he's always been a fear monger. He is the total opposite of FDR and his message of nothing to fear but fear itself.

I wouldn't trust a cockroach in the hands of Paulson or any other Bush Crime Family appointee, let alone The U.S. Treasury.

This will go down in histroy as the biggest heist ever!
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Old 09-30-2008, 02:00 PM
 
Location: DC Area, for now
3,517 posts, read 12,048,324 times
Reputation: 2141
That would probably be better in the long run if the defaulting mortgages were changed to 40 or 50 year fixed amortizations - that would address those loans that got caught in making stupid mistakes with ARMs. But there were lots of liar loans too and those were just criminal.

The system is rotten at it's core, tho that a lot of things must change before we could get back to a stable economic system.
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Old 09-30-2008, 02:07 PM
 
26,501 posts, read 17,282,627 times
Reputation: 10406
Quote:
Originally Posted by Tesaje View Post
That would probably be better in the long run if the defaulting mortgages were changed to 40 or 50 year fixed amortizations - that would address those loans that got caught in making stupid mistakes with ARMs. But there were lots of liar loans too and those were just criminal.

The system is rotten at it's core, tho that a lot of things must change before we could get back to a stable economic system.
Unfortunately, the criminals will never get the justice that is due. Does anyone that has anything to do with this administration ever get what is really coming to them?
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Old 09-30-2008, 02:07 PM
 
Location: Albemarle, NC
7,730 posts, read 12,709,292 times
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Only if they revalue the properties while they're at it.
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Old 09-30-2008, 02:11 PM
 
Location: London UK & Florida USA
7,922 posts, read 7,835,615 times
Reputation: 2035
If the Govt. lets the companies go bankrupt, they can take all assets, sell off the good assets and renegotiate the existing failing mortgages so that money can flow again. Cost to the Tax payer to get these toxic debts...Nothing!
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Old 09-30-2008, 02:14 PM
LML
 
Location: Wisconsin
7,110 posts, read 8,114,776 times
Reputation: 5160
Quote:
Originally Posted by sickofnyc View Post
That seems the correct way to get the money flowing back into the banks.
They are making this so complicated to screw us once again. You build any economy bottom up, not top down. Bush is telling us to be afraid...he's always been a fear monger. He is the total opposite of FDR and his message of nothing to fear but fear itself.

I wouldn't trust a cockroach in the hands of Paulson or any other Bush Crime Family appointee, let alone The U.S. Treasury.

This will go down in histroy as the biggest heist ever!
Oh my goodness. You are going ahead and doing the one thing they do not want you to do. You are thinking. If too many people start doing this, they will be dead in the water.
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Old 09-30-2008, 02:15 PM
 
Location: Albemarle, NC
7,730 posts, read 12,709,292 times
Reputation: 1505
Quote:
Originally Posted by geeoro View Post
If the Govt. lets the companies go bankrupt, they can take all assets, sell off the good assets and renegotiate the existing failing mortgages so that money can flow again. Cost to the Tax payer to get these toxic debts...Nothing!
Credit will dry up for the average American. Businesses will fail. But in the long run, it's better to do it now while these assets still have some inherent value.
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Old 09-30-2008, 02:22 PM
 
26,501 posts, read 17,282,627 times
Reputation: 10406
I suppose Bush wanted his "Golden Parachute." Probably had a tantrum in the oval office one day and they came up with this scam. Hang 'em all!
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Old 09-30-2008, 02:24 PM
 
Location: Beautiful East TN!!
7,281 posts, read 19,053,983 times
Reputation: 2753
Bush pushed to pass the HOPE program several months ago. Banks and lenders didn't pick up the program because it means they would have to write off some of the principle to make the loans correct with the TRUE value of a property, not the false inflated one. And or re amortize the mortgage at a 30 or 40 year fixed. Because of the "relief from mortgage regulations" passed in 2006 by Dem's they did not have to offer the HOPE program.
This was pushed to be fixed months ago, everyone ignored it.
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Old 09-30-2008, 02:30 PM
 
4,089 posts, read 4,718,419 times
Reputation: 1251
Quote:
Originally Posted by sickofnyc View Post
That seems the correct way to get the money flowing back into the banks.
They are making this so complicated to screw us once again. You build any economy bottom up, not top down. Bush is telling us to be afraid...he's always been a fear monger. He is the total opposite of FDR and his message of nothing to fear but fear itself.

I wouldn't trust a cockroach in the hands of Paulson or any other Bush Crime Family appointee, let alone The U.S. Treasury.

This will go down in histroy as the biggest heist ever!
What happens when they move? They are still upside down.
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