Obama to stick it to banks

[OohPooPahDoo]

Obama talks about new housing help for homeowners - Yahoo! Finance

President Obama said that struggling homeowners need even more help from the banks, in a CBS town hall that aired Thursday.

Calling housing "the biggest headwind on the economy right now," Obama broached two relatively new ideas for the White House: Longer-term mortgage modifications and principal reductions "in some cases."

Awesome. My wife and I have been waiting for years to buy a house, and now interest rates are low, we have a 20% down payment, and we're pulling the trigger. We should have just gotten into a crappy sub-prime no money down ARM 10 years ago and then we'd be getting bailed out.


Thanks for rewarding our patience! Maybe instead of rewarding people who made bad decisions you could incentive those who waited by offering up that first time home buyer credit again. That will make it easier for those with good credit to take homes off the hands of those who fucked up

 

[The Rabbi]

You're such a moron.

If Obama had done nothing housing prices would be much lower by now. Not only would you have gotten a low interest rate anyway you would have been able to buy more house for your money.

You are a simp and a half.

 

[Wiseacre]

But this way Obama gets to hammer the banks one more time. Voters love it when you hammer the banks.

 

[California Girl]

One wonders... without these 'evil banks'.... how many would be able to afford a house?

 

[B. Kidd]

OP'er ain't buying shit. Must be a real estate agent.

 

[OohPooPahDoo]

You're such a moron.

If Obama had done nothing housing prices would be much lower by now.

maybe so but the general economy would suck more, too.

 

[Mad Scientist]

OP your joking right? This was already done and proved to be a failure. Only something like 1000 people qualfied and got assistance.

 

[The Rabbi]

You're such a moron.

If Obama had done nothing housing prices would be much lower by now.

maybe so but the general economy would suck more, too.

No it would not.
We have spent an unprecedented amount of money and instituted an unprecedented amount of regulation and the result has been the weakest recovery on record.

Keep fishing there, einstein.

 

[Uncensored2008]

maybe so but the general economy would suck more, too.

What do you base such a claim on?

 

[Douger]

You want to buy a house ? NOW ?
HAHAHAHAHAHAHAH.
You're only in the middle of this circus act.
Wait until all of the actors fall of the stage, then decide what to do.
Hide the money and get ready to call these the good old daze.

 

[The Rabbi]

maybe so but the general economy would suck more, too.

What do you base such a claim on?

Obama's speeches.
If you can't beleive them, who can you believe?

 

[OohPooPahDoo]

No it would not.
We have spent an unprecedented amount of money and instituted an unprecedented amount of regulation and the result has been the weakest recovery on record.

Sorry you'll have to be a bit more specific.

 

[OohPooPahDoo]

maybe so but the general economy would suck more, too.

What do you base such a claim on?

If home prices are too low more banks fail.

 

[kiwiman127]

OP your joking right? This was already done and proved to be a failure. Only something like 1000 people qualfied and got assistance.

The Home Modification Loans were a joke,,,,,,by the way banks handled this program.
I believe there investigations in just about every state regarding the banks practices regarding mortgages, including the Home Modification Loans.
This has been reported by about every major news source in the country.

 

[OohPooPahDoo]

You want to buy a house ? NOW ?
HAHAHAHAHAHAHAH.
You're only in the middle of this circus act.
Wait until all of the actors fall of the stage, then decide what to do.
Hide the money and get ready to call these the good old daze.

Yeah I'll just wait until after interest rates go up, that sounds brilliant. A 1% jump in rates is like a 10% jump in home price if you pay over 30 years.

 

[The Rabbi]

OP your joking right? This was already done and proved to be a failure. Only something like 1000 people qualfied and got assistance.

The Home Modification Loans were a joke,,,,,,by the way banks handled this program.
I believe there investigations in just about every state regarding the banks practices regarding mortgages, including the Home Modification Loans.
This has been reported by about every major news source in the country.

Doesn't matter.
About 80%of the people going through the program ended up in foreclosure within 18 months anyway. The program is an enormous expensive failure.

 

[kiwiman127]

Banks Gain Edge in Talks on Foreclosure Penalties as Fed, Agencies Settle

Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and fellow mortgage servicers are more likely to dodge a threatened $20 billion in penalties for faulty foreclosures after U.S. agencies cut ahead of the states by signing deals without fines.

A task force of 50 state attorneys general already was arguing internally over proposed sanctions when people familiar with the talks said the Federal Reserve, Office of the Comptroller of the Currency, Office of Thrift Supervision and Federal Deposit Insurance Corp. began making the deals. While the U.S. watchdogs may yet seek fines, the pacts ease pressure on the banks and erode states’ leverage, said Gilbert Schwartz, a former Fed attorney.

Banks Gain Edge in Talks on Foreclosure Penalties as Fed, Agencies Settle - Bloomberg

Yeah! Let's defend the banks!!!!!!!

 

[The Rabbi]

You're obviously an ignorant fuck-wad class warrior.

 

[kiwiman127]

You're obviously an ignorant fuck-wad class warrior.

What a great comeback! Did it take about a hour for you to think that one up?

 

[The Rabbi]

You're obviously an ignorant fuck-wad class warrior.

What a great comeback! Did it take about a hour for you to think that one up?

It took me less time to type it than it did for me to realize you're a moron of galactic caliber.