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Big corporations (greed goes without saying, but I will anyway). Homeowners who were greedy and/or stupid and/or refuse to take responsibility for taking on more than they should have. Greedy realtors and mortgage lenders. What is up with this country and its people? I am tired of all of them. Everyone is either stupid and/or greedy and/or blaming their woes on someone else. Whatever happened to personal responsibility??! And I am not even a conservative! But enough is enough!
Get with the program! I say we let Darwinism take its course.
you cannot just blame the "people" for this as so much of this junk is either done in secret over the weekend and not even reported by the media until it is done. realistically, if it was just mortgages the banks would have been forced to renegotiate the terms and worked it out with those homeowners. (not excusing them either here). instead, our federal government, in collusion with wall street, bailed out the banks so they would get their money guaranteed by the taxpayers. the real bailout is for the derivative market which is in the trillions. as well, every other bailout since then has been done against the wishes of the american public. citibank did not have to make any concessions on anything! when the president-elect talks about creating all of these jobs now, i have to ask where is this money going to come from? i guess the printing presses will just keep printing money since nobody else wants to lend us any money. there is going to be another TARP speech later this morning so it should be interesting to see what they are planning now.
no kidding. The politicians convince us that we need to raise this tax and that tax for education, healtchare etc. Then when the money actually gets to Washington it is spent on wars and private corporation bailouts.
No, I think we as a collective "society" deserve the blame. Maybe it's consumerism. Things were not like this 30 years ago. Corporations took responsibility. Everyday Americans took responsibility. There has been a fundamental shift in the American psyche and not for the better.
Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,930,296 times
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There is no way anybody can convince me that the entire country and government didn't have the common sense to know that you can't spend money you don't have, adjustable rates mortgages don't reset, or that interest rates never go up. Puhleeze. Enough already. Didn't fall for it then and I'm not falling for it now. My solution: make every single freakin person who wants to buy a house take a course explaining basic finances. Oh yeah, and let's throw some bankers, brokers, execs, and politicians in that class, too. And give them lots of pop quizzes.
There is no way anybody can convince me that the entire country and government didn't have the common sense to know that you can't spend money you don't have, adjustable rates mortgages don't reset, or that interest rates never go up. Puhleeze. Enough already. Didn't fall for it then and I'm not falling for it now. My solution: make every single freakin person who wants to buy a house take a course explaining basic finances. Oh yeah, and let's throw some bankers, brokers, execs, and politicians in that class, too. And give them lots of pop quizzes.
Whoever created mortgages and all these exotic loans don't want us to know basic finance. They don't want us to figure out how a mortgage is added up and amortized.
Someone or some group of people created exotic loans and push them to the American people. While the American people were dumb because they fell for it, it all started at the top. We learn from our role models. The government is in debt, they spend like crazy, and Bush and Clinton went around pushing homeownership in EVERY speech. All the corporations want bailouts so of course Americans want a bailout too.
I wonder if people will learn a lesson after this subsides. Somehow I doubt it.
Somehow I forgot to get a zillion dollars in debt. I guess I don't deserve a bailout. How thoughtless of me.
That's what I'm talking about. Where's my bailout?!? I'm only looking for a billion or two, that's hardly a drop in the bucket! And I promise to spend 95% of it, all in America, to help stimulate the economy!
Big corporations (greed goes without saying, but I will anyway). Homeowners who were greedy and/or stupid and/or refuse to take responsibility for taking on more than they should have. Greedy realtors and mortgage lenders. What is up with this country and its people? I am tired of all of them. Everyone is either stupid and/or greedy and/or blaming their woes on someone else. Whatever happened to personal responsibility??! And I am not even a conservative! But enough is enough!
Get with the program! I say we let Darwinism take its course.
Whoever created mortgages and all these exotic loans don't want us to know basic finance. They don't want us to figure out how a mortgage is added up and amortized.
Someone or some group of people created exotic loans and push them to the American people. While the American people were dumb because they fell for it, it all started at the top. We learn from our role models. The government is in debt, they spend like crazy, and Bush and Clinton went around pushing homeownership in EVERY speech. All the corporations want bailouts so of course Americans want a bailout too.
I wonder if people will learn a lesson after this subsides. Somehow I doubt it.
It's really not that complicated. Blame blame blame in what I bolded. It is called live beneath your means. Pay off your debts and make sure to have a cushion. Don't hold debt you cannot pay off quickly (with the exception of a REASONABLE mortgage and used car debt). Eat ramen noodles if that is what it takes! Stay in a crap job, if that is what it takes! (and it's killing me to do so, believe me). Still, I have no intention of getting behind the eight ball on this one.
Many years ago when things were good I bought a house and put enough down wherein I knew I could make the house payment flipping burgers. I never had to. I did a four hour commute daily and lived in a bad neighborhood but HAD property, just to get ahead. It wasn't a fancy house, but I was BUILDING something.
I don't own a DVD player. I don't own a flat screen TV. My car is six and a half years old. I shop at Goodwill.
If I can do this, so can others. These are the values upon which the middle class grew. Now it's gone to hell. I am still angry.
ETA: Today's liberals are yesterday's REAL conservatives. I don't mind extending a helping hand and am all for universal health care and the like, because there are plenty of uninsured WORKING people, ok, that is all. And there are other people with disabilities - mental and physical who cannot work for one reason or another. Finally, there are just some on the low end of the bell curve. They can't help it.
Last edited by movin'on; 11-25-2008 at 06:57 PM..
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