Bail out al home owners, problem solved?

[Anguille]

I agree the flippers should be punished...but if this is the case, why punish them and not the financial institutions that ALSO made and started these unsound business moves?

I think the CEO's and anyone involved in falsifying applicant's financial statements or misleading borrowers should be punished but I do think institutions should be preserved. I think letting them go bankrupt will hurt the little people and those who did not succumb to greed.

I do think that this crises will lead to stronger government controls and supervision of these industries. I think we have to insist our legislators work towards that.

 

[Care4all]

how's punishing anyone gonna help?

you make your bed, you sleep in it...

isn't that suppose to be capitalism?

 

[dilloduck]

you make your bed, you sleep in it...

isn't that suppose to be capitalism?

well figure out what law they broke and file charges It still solves nothing

 

[Care4all]

well figure out what law they broke and file charges It still solves nothing

it changes the republicans resistance to logical regulations....even mccain who has been a supporter of deregulation is now calling for more regulation and oversite, it's downright a MIRACLE, to see this kind of flip flop in my book!!!

 

[dilloduck]

it changes the republicans resistance to logical regulations....even mccain who has been a supporter of deregulation is now calling for more regulation and oversite, it's downright a MIRACLE, to see this kind of flip flop in my book!!!

he wants to find a realistic and workable level of regulation--all regulation aint bad

 

[Care4all]

he wants to find a realistic and workable level of regulation--all regulation aint bad

no kidding, that's what Dems have supported all along, but were labeled the evil haters of capitalism for thinking that way by the repubs.....

ask Mccain how he helped Keating, back in the 80's....

 

[dilloduck]

no kidding, that's what Dems have supported all along, but were labeled the evil haters of capitalism for thinking that way by the repubs.....

ask Mccain how he helped Keating, back in the 80's....

get out of the 80s for god sakes

 

[Care4all]

get out of the 80s for god sakes

it is relevent because it was the last financial/banking crisis that we had...and it needs to be compared so we can LEARN from our mistakes for a CHANGE!

 

[dilloduck]

it is relevent because it was the last financial/banking crisis that we had...and it needs to be compared so we can LEARN from our mistakes for a CHANGE!

bull--we just need somebody to act

 

[CA95380]

it is relevent because it was the last financial/banking crisis that we had...and it needs to be compared so we can LEARN from our mistakes for a CHANGE!

Please! Don't tell us that you are one of those waiting to get bailed out? Are you? You sure are beginning to sound like you are.

 

[Care4all]

Please! Don't tell us that you are one of those waiting to get bailed out? Are you? You sure are beginning to sound like you are.

nope, we own our house OUTRIGHT, paid cash 100% last year when we moved up here!

it would help us if there were not so many homes going in to foreclosure....it would help all americans that have invested in a home and even others that have seen crime go up in their neighborhoods with all the empty foreclosed homes just sitting there, waiting to become Meth houses....etc...

 

[AllieBaba]

Er...where do you propose all this money come from?

 

[Care4all]

Er...where do you propose all this money come from?

from the $800 BILLION that the government is spending to Bail out the financial institutions THIS YEAR ALONE.....

where did they get THAT money Allie?

if THAT money went to helping these subprime/adjustable mortgage owners in to secure 30 year fixed mortgages, THEN the financial institutions WOULD ALSO be getting their bailout money because no one or many less, would be defaulting....

which is what is happening....the defaulting on loans is throwing the financial industry in to this mess and needing the gvt bail out

 

[sealybobo]

Er...where do you propose all this money come from?

The GOP created a loophole that gave overseas companies $500 billion in tax breaks. Bush's deficit is $500 billion. You have to ask where we will get the money? Close the loopholes.

Here are the details again, since you didn't read them the first time:

Morgan Stanley, Lehman Brothers and other Wall Street giants helped foreign investors dodge billions of dollars in U.S. taxes on stock dividends while the IRS looked the other way, a Senate investigation found.

The firms worked with shell hedge funds that had little more than offshore mailing addresses in the Cayman Islands and elsewhere. The funds arranged complex equity swaps and stock loans aimed at circumventing U.S. tax laws, a staff report by the Senate Permanent Subcommittee on Investigations said.

The IRS has neither enforced existing rules prohibiting the transactions nor tried to draft new standards, the 77-page report said.

“These are gimmicks peddled by American financial institutions to deny Uncle Sam taxes owed under our law,” Senator Carl Levin, who heads the panel, told reporters. “The IRS has pussyfooted on this.”

Morgan Stanley enabled foreign clients to avoid payment of more than $300 million in U.S. dividend taxes from 2000 to 2007. (THE SAME TIME THE REPUBLICANS RAN ALL THREE BRANCHES OF GOVERNMENT)

Lehman estimated its customer’s eluded payment of as much $115 million in 2004 alone.

UBS helped clients escape payment of $62 million from 2004 to 2007.

 

[Anguille]

nope, we own our house OUTRIGHT, paid cash 100% last year when we moved up here!

it would help us if there were not so many homes going in to foreclosure....it would help all americans that have invested in a home and even others that have seen crime go up in their neighborhoods with all the empty foreclosed homes just sitting there, waiting to become Meth houses....etc...

A few years ago there was there was a lot of government interest in helping people to own their own homes. It was believed that home ownership encouraged responsibility and that people became more invested in their communities when they owned the homes they lived in. This crises has set the country back not only financially but in terms of quality of life. When your neighborhood is being torn apart by evictions and foreclosures it creates anxiety that is felt by all.

 

[Anguille]

Care, you've made me reconsider my feelings about bailouts. I still think that for practical reasons we can't allow huge institutions to fail, but it does seem that the bigs guys are getting a better deal as far as government aide is going. By ignoring the needs of the ordinary citizen to the benefit of big business we are just continuing the same worthless policy of trickle down economics.

 

[editec]

Care, you've made me reconsider my feelings about bailouts. I still think that for practical reasons we can't allow huge institutions to fail, but it does seem that the bigs guys are getting a better deal as far as government aide is going. By ignoring the needs of the ordinary citizen to the benefit of big business we are just continuing the same worthless policy of trickle down economics.

Bingo!

 

[CA95380]

nope, we own our house OUTRIGHT, paid cash 100% last year when we moved up here!

it would help us if there were not so many homes going in to foreclosure....it would help all americans that have invested in a home and even others that have seen crime go up in their neighborhoods with all the empty foreclosed homes just sitting there, waiting to become Meth houses....etc...

Wow! That is quite an achievement. Congrats. That must have been some nest egg you shelled out. If you have any left over let me know, cause I could use some remodeling done in my kitchen.

I guess we are lucky, we don't have any meth houses in our neighborhood, either. That I know of

 

[Shattered]

Why wouldn't bailing out all of the homewoners that were mislead in to their shotty mortgages save the whole economy...

Lou Dobbs was saying that this year alone the feds have used or will use $800BILLION dollars to bail out these big gun financial institution and they are not done yet....

Why wouldn't helping all of these home owners in default, to keep their homes, not be the answer that helps this economy instead of bailing out the corporations that own these loans?

If these homewoners were bailed out, they keep their homes, the financial institutions get their money on these loans, and all is well for all of them?

Why are the homeowners being left out of the fix? Why just hand money to the banks and financial institutions and insurance companies to save them from all of the defaults and not secure the homes for the people?

if the people were part of this equation as the institutions are, then they would be more sound financially and they would have security and they would eventually be spending more and more in the economy to keep it going?

i realize this is simple thinking and it is much more complicated than meets the eye....but i still don't "get" using our tax dollars to only help the assholes that caused this greed infested mess....?

Why should the people that got these loans to purchase houses they knew full well they couldn't afford be continually bailed out?

Anyone that walks in to a lending institution not knowing what they can realistically afford in a worst case scenario is just asking for trouble. Nobody should make those types of purchases without doing some serious research, and number crunching.

 

[Care4all]

Why should the people that got these loans to purchase houses they knew full well they couldn't afford be continually bailed out?

Anyone that walks in to a lending institution not knowing what they can realistically afford in a worst case scenario is just asking for trouble. Nobody should make those types of purchases without doing some serious research, and number crunching.

i think it is naive to think the average joe knows not to believe what the lenders tell them....there is and always has been till this point, a silent trust that the lenders in this business knew what they are doing and would not loan you money that they KNEW you would probably default on.

Setting this aside, what i am saying is that this whole mess that our gvt is holding a near $800 billion dollar bailout in with these big financial institutions that SHOULD HAVE KNOWN BETTER is wrong without putting a bail out for the homewoner in to the equation which would in turn get to the financial institutions as help by the homeowners paying a fixed rate mortgage instead of going in to foreclosure and defaulting on their loans

.... and to not put the home owner in to the equation of their bail out with OUR TAX DOLLARS including the tax dollars of those losing their homes, is shameful and rewarding the very ones that caused this mess without even taking in to consideration that those of us that have good loans or no loans at all and own a home are being hurt drasitically by this mess,

including the ruining of our neighborhoods with all the empty homes in foreclosure due to the rate hikes of their adjustable rate mortgages and this in turn is bringing down the value of all the homes in america which most homeowners invested most of their wealth in...

It also makes most good holding mortgage homeowners unable to move, which has been an asset for them in the past, when it came to working their way up their ladder....

to ignore this while doling out our tax dollars to the irresponsible financial institutions is a complete slap in the face....and does not address the whole picture of this mess, the part that is hurting the law abiding, good standing, every day joe....

And if this financial crisis is REALLY caused by people defaulting on their subprime loans when their interest rate adjusts up and they no longer can afford their payments, thus making the institutions unstable, why not just help the homeowners in to fixed rate 30 year mortgages at decent rates, which would bailout the homeowners to a degree but mostly be a bail out for the financial institutions thru fewer foreclosures and defaults?

KILLING two birds with one stone?

And helping the rest of us too, by seeing less foreclosures, less crime and keeping the wealth that us homeowners have in our homes at least stable instead of losing our wealth....day by day.