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Old 09-21-2008, 11:48 PM
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Navy1960 Navy1960 is offline
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Quote: Originally Posted by jschuck12001 View Post
Wonderful point Navy, The only way people were put into loans they couldnt afford is if they or the broker was committing fraud. This mostly happened on stated loans and when Joe the self employed consumer who owns a lawn mowing business either said he makes 10k a month or the broker just filled in the application and made the income up for them they are both at fault because you need a signed 1003(loan application) with the stated income on it so the consumers were committing fraud as well by signing these documents. Its amazing how people who have owned multiple houses in their lifetime can play dumb and take no responsibility.
Thank you jschuck, now I'm not saying some of these low life's that ran off with billions before this all went down then came begging for our tax money don't have some responsibility in this. However, we used to have something in this country called, you make a bad business decision like that constantly . you go out of business. So the way I see it these people want my tax money hand over the parachute. So in that part I can agree with the democrats. However, if we start saying well anyone out there who took out a loan is now somehow a victim is really really BAD message to send to all those people out there who pay on time. It basicially means I'm bailing those people out too.
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