Congress Approves Housing Rescue Bill

[Manuel]

The House has passed legislation that aims to help 400,000 strapped homeowners who are facing foreclosure and prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.

The 272-152 vote on Wednesday reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

Congress Approves Housing Rescue Bill

 

[CA95380]

I saw this just a few minutes ago. Thanks for sharing it with others that might have missed it. Now ..... let's see how long it takes for this to get messed up just like most things that our "government" get's their fingers into.

Remember New Orleans??

 

[Charles_Main]

I am torn about this, While I know it is needed, it still pisses me off that a lot of irresponsible morons, who bought houses the could not afford, for 3% down, are going to be bailed out by it.

 

[Chris]

I am torn about this, While I know it is needed, it still pisses me off that a lot of irresponsible morons, who bought houses the could not afford, for 3% down, are going to be bailed out by it.

Did you cash your stimulus check yet?

 

[Gunny]

The House has passed legislation that aims to help 400,000 strapped homeowners who are facing foreclosure and prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.

The 272-152 vote on Wednesday reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

Congress Approves Housing Rescue Bill

Nothing wrong with our government bailing out private industry. Oh wait, isn't that how we got an artificial ceiling on gas for 3 decades we're paying for now?

 

[Charles_Main]

Did you cash your stimulus check yet?

Did a troll ask me a question that has nothing to do with the thread at all? I swore I heard something, well almost.

 

[Paulie]

I am torn about this, While I know it is needed, it still pisses me off that a lot of irresponsible morons, who bought houses the could not afford, for 3% down, are going to be bailed out by it.

At the expense of the rest of us.

 

[busara]

I am torn about this, While I know it is needed, it still pisses me off that a lot of irresponsible morons, who bought houses the could not afford, for 3% down, are going to be bailed out by it.

agreed. it pisses me off, but i know it needs to happen. should i pay for people who lose their savings playing the stock market or gambling at a casino as well? dont do it if you cant afford it. idiots

 

[Ravi]

I am torn about this, While I know it is needed, it still pisses me off that a lot of irresponsible morons, who bought houses the could not afford, for 3% down, are going to be bailed out by it.

Not to mention irresponsible lenders that lent out money knowing people couldn't afford to pay it back...

 

[Paulie]

agreed. it pisses me off, but i know it needs to happen. should i pay for people who lose their savings playing the stock market or gambling at a casino as well? dont do it if you cant afford it. idiots

Why does it "need" to happen?

 

[busara]

Why does it "need" to happen?

what would happend to the banking and housing industries if nothing is done to help them?

 

[Paulie]

what would happend to the banking and housing industries if nothing is done to help them?

They would collapse, and we would recover. Do we really need the current ones to maintain our society? The only ones ultimately benefitting from a bail-out are the high end wall street investors.

I say let the pain be felt, recover from it, learn from it, and never let it happen again.

10 years from now, no one will remember this shit and eventually it will happen again. If history is any reference, we can be SURE of it. At least if we suffer from it and actually LEARN from the mistakes, we'll have benefitted ultimately.

I'm not afraid, are you?

 

[editec]

what would happend to the banking and housing industries if nothing is done to help them?

Major Banks would start rolling over and playing dead world wide.

Minor banks would quickly follow them.

FDIC would start printing up play-dough to cover EVERYBODY's assets.

Super duper hyperinflation.

Total economic collapse, starvation, riots.

Something approaching anarchy as city state and local governments stopped being able to keep the lid on things.

That's my read on it, at least.

Given that the government (of the rich, for the rich and by the rich) is bailing these banks out, I think that's their read on it, too.

What follows all that?

Some kind of fascist government, of course.

Once representative governments shit the bed, that's about the only way to get order and productivity back on line.

 

[Paulie]

Major Banks would start rolling over and playing dead world wide.

Minor banks would quickly follow them.

FDIC would start printing up play-dough to cover EVERYBODY's assets.

Super duper hyperinflation.

Total economic collapse, starvation, riots.

Something approaching anarchy as city state and local governments stopped being able to keep the lid on things.

That's my read on it, at least.

Given that the government (of the rich, for the rich and by the rich) is bailing these banks out, I think that's their read on it, too.

What follows all that?

Some kind of fascist government, of course.

Once representative governments shit the bed, that's about the only way to get order and productivity back on line.

Problem-Reaction-Solution

 

[Charles_Main]

Not to mention irresponsible lenders that lent out money knowing people couldn't afford to pay it back...

Agreed. What really gets me is congress is billing this as a bail out of home owners, and while many of them are, it is also bailing out speculators and real estate investors who simply made high risk investments, and lost. All it will accomplish for them, is to encourage them to make more high risk investments. As well as predatory lenders of course.

 

[Paulie]

Agreed. What really gets me is congress is billing this as a bail out of homo owners

What does one do with their very own gay person? Do you use them to decorate your house for you, and has it really become that much of a financial mess that it requires a bail out?

Buying a gay person is probably a good hedge against a constantly messy house. I could use one of those.

 

[RetiredGySgt]

What does one do with their very own gay person? Do you use them to decorate your house for you, and has it really become that much of a financial mess that it requires a bail out?

Buying a gay person is probably a good hedge against a constantly messy house. I could use one of those.

LOL

 

[Charles_Main]

What does one do with their very own gay person? Do you use them to decorate your house for you, and has it really become that much of a financial mess that it requires a bail out?

Buying a gay person is probably a good hedge against a constantly messy house. I could use one of those.

It's called a type bud, and has been fixed, do forgive me. For an accident. Can one even own a Homo?

 

[Paulie]

It's called a type bud, and has been fixed, do forgive me. For an accident. Can one even own a Homo?

LOL. You had a typo trying to spell typo. But it's all in good fun, my man. No worries.

I suppose one could own just about anything, with the right enforcement.

 

[Charles_Main]

LOL. You had a typo trying to spell typo. But it's all in good fun, my man. No worries.

I suppose one could own just about anything, with the right enforcement.

lol, shit now that is embarrassing