Is anyone in favor of the mortgage buyout bill?

[42Presidents]

Generally speaking, I haven't heard anyone write or speak favorably about the Housing Bill that was accepted in Congress and signed by President Bush. With all the recent talk about out of control spending, how does this recent bill not just get ripped apart in the Media? Does the mainstream Media see it as a good thing?

 

[CA95380]

Is anyone in favor of the mortgage buyout bill?

NO!

I paid my house payments (until it was paid off), why should some "flipper" or some other "over paid, 1-car, 1-SUV, 1-boat, 1-huge motorhome" nut not be made to pay his/hers

They their own hole. They need to their own way out, without my tax dollars helping them!

 

[Paulie]

Generally speaking, I haven't heard anyone write or speak favorably about the Housing Bill that was accepted in Congress and signed by President Bush. With all the recent talk about out of control spending, how does this recent bill not just get ripped apart in the Media? Does the mainstream Media see it as a good thing?

The MSM does their best to indoctrinate socialism into the masses everyday, why would they be any different in regards to this bill?

Besides, Wall St. "loved" it!

I wonder if our children are going to feel the same way, one day.

 

[Mr. Right]

no

 

[42Presidents]

I can't see where this bill would be good for anyone. Are we just funneling money straight from the Treasury to the banks? Don't we do that already? And there is all this talk about home owners receiving help over unpaid mortgages, are they actually going to see this money? I'm doubting that.

It appears to be a blunder to me and Bush didn't help by going forward with it. I wonder if Congress ever looks at their approval rating (what is it now 17%?) and says hmmm, why is it so low?

 

[midcan5]

It is pragmatism rather than good business sense. It is what we need to do sometimes, now let's extend the compassion down the class line and get fair working wages and tough regulations so this can't happen again.

http://www.marketwatch.com/news/sto...C0D903-B39F-46B7-95BC-9E0722B4FE9F}&dist=hppr

 

[busara]

It is pragmatism rather than good business sense. It is what we need to do sometimes, now let's extend the compassion down the class line and get fair working wages and tough regulations so this can't happen again.

NAR Statement on President Signing Housing Bill - MarketWatch

how bout making people smarter as well? or at least teach budget responsibility

 

[midcan5]

how bout making people smarter as well? or at least teach budget responsibility

I agree to that, but knowing people it may be a tough job.

 

[chapstic]

got to love "equal opportunity lending".

 

[Gunny]

I can't see where this bill would be good for anyone. Are we just funneling money straight from the Treasury to the banks? Don't we do that already? And there is all this talk about home owners receiving help over unpaid mortgages, are they actually going to see this money? I'm doubting that.

It appears to be a blunder to me and Bush didn't help by going forward with it. I wonder if Congress ever looks at their approval rating (what is it now 17%?) and says hmmm, why is it so low?

I asked the same question in another thread. Looks to me like we're passing money from right hand to left bailing out the buyers AND sellers.

 

[Gunny]

It is pragmatism rather than good business sense. It is what we need to do sometimes, now let's extend the compassion down the class line and get fair working wages and tough regulations so this can't happen again.

NAR Statement on President Signing Housing Bill - MarketWatch

You were almost okay until you tossed your nanny state junk at the end. Why don't we get smarter buyers?

Fair wages is a relative term. I make nowhere near minimum wage and the market, not the goverment decides my income. The government interfering in that results in my pay being devalued.

No amount of regulations in the world are going to make dumb buyers smart. Blaming all this on banking and real estate is intellectually dishonest. It takes two.

 

[Bern80]

It is pragmatism rather than good business sense. It is what we need to do sometimes, now let's extend the compassion down the class line and get fair working wages and tough regulations so this can't happen again.

NAR Statement on President Signing Housing Bill - MarketWatch

Yes of course it will never happen again if we do that. More money will eliminate irresponsible people. Works all the time.

 

[Paulie]

I can't see where this bill would be good for anyone. Are we just funneling money straight from the Treasury to the banks?

We would have to have money in the Treasury first, to be able to funnel it anywhere.

 

[Jeepers]

I'm not for this whole buyout deal.. but .. working for Wachovia, I feel like I'm an earnings report away from a run on the bank..

 

[Annie]

Please, please pay my mortgage! It will be so much easier if you all do than myself. Thank you!

 

[Charles_Main]

I heard today that while the Bill is only 300 Billion right now, it puts us on the hook for potentially 3.9 TRILLION DOLLARS


HOLY FUCK ME IN THE ASS WITH A SIDEWAYS DICK BATTMAN!!!

 

[42Presidents]

I also just read today that a number of housing advocacy groups are going to receive chunks of cash from this deal. Groups such as Acorn, National Urban League and La Raza are expecting paychecks. What bothers me about them is that these groups are not only housing advocacy groups but that they have political lobbyist arms that typically pull for one side of the aisle. Which means not only will they receive a load of dough to sponsor their low income housing initiatives, they will have extra cash to support their favorite political party. That's just a total misappropriation of funds that should never get dispersed in this manner.

 

[editec]

We're told that we're facing fiscal meltdown of the banking and real estate markets.

If that's the case, then deperate people do desperate things.

I'm sympathetic with those of us who are pissed about it.

I agree that we're probably creating a moral hazard, and I suspect that all we're doing is putting off the pain we should probably take today.

But, (and I am not a economist, so I cannot say this with any degree of confidence) if our banking system melted down, AND the real estate market went down with it, I'm reasonable sure that that might have been an outcome NONE of us would have been happy with.

I am seldom so unsure of things as I am in this case.

All I know for sure is that nobody's going to come save my ass if I can't pay my mortgage this winter.

And while these folks are biling out the major banks, they did not pass a bill giving more aid to people who cannot afford $4 a gallon heating fuel.

Gonna be a tough winter, folks.

 

[doeton]

once again we have a bush in the white during a mega disaster in the banking market.

regulators asleep on the job.

gw should be...

 

[Jeepers]

once again we have a bush in the white during a mega disaster in the banking market.

regulators asleep on the job.

gw should be...

.. handed over to Jessy (snip it) Jackson?