Here's HOw to Fix the Wall Street Mess.. Great plan from Michael Moore (unemployed, minimum wage)
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You might not agree with that.. but the rest of it is damned good!!
100K to homeowners is much better than 700billion to Wall Street.. if something has to be done!
ANd.. btw.. It woulnd't matter for me.. mine is already over and done with.. so Im' not speaking as someone that benefits from it.
Dont' be a hating because he calls people out on their ****e!!! Good for him..
Please. I haven't bought a home yet, so where's my $100k to make up the difference for homes that are still way overpriced? Oh that's right, I didn't do something stupid by buying an overpriced house in 2003-2006.. I saved money by renting instead. I disagree with artificially keeping house prices high by preventing foreclosures that should happen just as much as I disagree with bailing out failed banks & investment firms.
Please. I haven't bought a home yet, so where's my $100k to make up the difference for homes that are still way overpriced? Oh that's right, I didn't do something stupid by buying an overpriced house in 2003-2006.. I saved money by renting instead. I disagree with artificially keeping house prices high by preventing foreclosures that should happen just as much as I disagree with bailing out failed banks & investment firms.
I have to agree totally there. Many of us renters havent been stupid to try and buy a house in the last few years, when home prices were way overvalued.
Please. I haven't bought a home yet, so where's my $100k to make up the difference for homes that are still way overpriced? Oh that's right, I didn't do something stupid by buying an overpriced house in 2003-2006.. I saved money by renting instead. I disagree with artificially keeping house prices high by preventing foreclosures that should happen just as much as I disagree with bailing out failed banks & investment firms.
My point is not that that should be done.. my point is that it's better that if SOMETHING should be done.. that that would be better than handing $700billion over to Wall Street...
Besides.. as I said before..there was much more to what he had to say than just those two paragraphs.
I suppose if Ann Coulter posted a "plan" it would be shot down just as quickly because of who she is too. The "shock jocks" on both sides can't expect to be taken seriously by all when they cater only to one party.
I think his plan made a couple good points. But even the good points will be drowned out simply because he's Michael Moore.
I'm not saying he didn't. But is it intelligent to automatically dismiss a point of view based simply on who's it is? Not to say you are guilty of doing so, but many people tend to do that, especially in politics. If it comes from the mouth of a Dem, a Rep will dismiss it immediately, and vice-versa. It just seems a little ignorant. Emotional reactions tend to overrule sound judgment even in today's society. Even Bush had a few ideas worth listening to
Last edited by Ludachris; 10-02-2008 at 02:57 PM..
My point is not that that should be done.. my point is that it's better that if SOMETHING should be done.. that that would be better than handing $700billion over to Wall Street...
I actually have to disagree with you here. If we bailout struggling home "owners" who contributed to the artificial skyrocket of home prices, it will only help keep home prices artificially high. That dooms every future first-time home purchaser for years to come. If we let the foreclosures happen and do nothing to help them, home values will come back down to where they should be.. 1998-ish plus ~2-3% appreciation per year since.
I don't like anything about a Wall St bailout, but I'm even more against doing ANYTHING to prevent foreclosures that need to happen. These people were given home loans that should never have been awarded in the first place. I'm not just talking about poor minorities. I'm talking about anyone who took on a loan for a house they couldn't afford in the long run. There are a lot of middle class foreclosures because they felt they could afford a $500k house on a $60k salary with only 10% (or less) down payment.
I cheer the downturn of the housing market. It means that everyone (our first-time buyers, college students, children, and those who previously had a foreclosure) will be able to afford more home for their money in the coming years, but this time, banks will be held to only giving out responsible loans without allowing anyone to overextend their salary.
I'm not saying he didn't. But is it intelligent to automatically dismiss a point of view based simply on who's it is? Not to say you are guilty of doing so, but many people tend to do that, especially in politics. If it comes from the mouth of a Dem, a Rep will dismiss it immediately, and vice-versa. It just seems a little ignorant. Emotional reactions tend to overrule sound judgment even in today's society. Even Bush had a few ideas worth listening to
Moore has lost all credibility.
Yes, in the case of Michael Moore, anything the man says can and should be dismissed out of hand. It has nothing to do with his politics - it's because of his propensity to lying. If his idea(s) are good, other people - with more credibility - will also propose them and they may then be considered.
I actually have to disagree with you here. If we bailout struggling home "owners" who contributed to the artificial skyrocket of home prices, it will only help keep home prices artificially high. That dooms every future first-time home purchaser for years to come. If we let the foreclosures happen and do nothing to help them, home values will come back down to where they should be.. 1998-ish plus ~2-3% appreciation per year since.
I don't like anything about a Wall St bailout, but I'm even more against doing ANYTHING to prevent foreclosures that need to happen. These people were given home loans that should never have been awarded in the first place. I'm not just talking about poor minorities. I'm talking about anyone who took on a loan for a house they couldn't afford in the long run. There are a lot of middle class foreclosures because they felt they could afford a $500k house on a $60k salary with only 10% (or less) down payment.
I cheer the downturn of the housing market. It means that everyone (our first-time buyers, college students, children, and those who previously had a foreclosure) will be able to afford more home for their money in the coming years, but this time, banks will be held to only giving out responsible loans without allowing anyone to overextend their salary.
So why award one group over another? Why rejoice when one person falls upon hard times for his/her risk while someone else took risks with other peoples' money and not their own? And why place more blame on the home owner over the banks they trusted to give them the loan? How many of those home owners took on a loan that they couldn't afford compared to the ones who lost a job or found themselves in a situation that they had little control over as a result of the economy turning to $#%&? How can they all be grouped together? And how can you suggest that it's just to watch people who were responsible take the fall for everyone else?
You cheer the downturn at the expense of others. That's a unique way to look at it I suppose. I guess I can't bring myself to be happy about the investment losses that I, my friends and family, and even those I don't know (who didn't necessarily act irresponsibly) will have to endure because of all this.
I don't like the idea of a bail out. I think it reinforces bad business practices by the most powerful corporations (and decision-makers) in our society. The only people being punished for all of this are the people with less money in their portfolio, even though they aren't the only ones to blame. There will be no consequences or hardships for those who made decisions that negatively affected millions. It's unfortunate that justice will not be served across the board relative to the role played. But I also fear what will happen if nothing is done.
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