5-Year mortgage rates to be frozen?

[Blackflag]

Re: Re: 5-Year mortgage rates to be frozen?

Originally posted by LoungeMachine
Just out of curiosity, what's your beef with it?

You don't give a shit about most other issues today.

Why does this one make your panties bunch so?

In short, it's complete bullshit.

Let's start by just ignoring the fundamental unfairness of rewarding irresponsible behavior. People need to realize that this isn't about helping 'people.' It's about helping the institutions out that have money out invested in the marketplace. Did you see the stock market today? This isn't the social welfare they're selling it as, like everybody loves so much.

So the responsible people/banks - who only get /give mortgages with fixed rates for amounts that make sense? Fuck them.

The irresponsible people? They get a break. The banks who loan money to bad credit risks? They get a break.

But let's ignore that and look at the real problem:

1. Somebody is going to pay for this. That statement about it not costing government money is bullshit. It's a shell game, because the money ultimately was borrowed by the banks from a federal bank.

Either the banks will get a break on their loans in exchange for making this deal - which is a direct hit on tax dollars. Or future mortgage rates will go up (or loans harder to get - same difference) for the responsible borrowers. But somebody is going to pay for this. It's not Bush, and it's not the bank - it's you.



2. When the government intervenes in the market and sends a signal of unpredictability, it's bad for everybody. The signal here is - go ahead and be irresponsible. Make irresponsible loans. Tell everybody what your bank's income will be in the future, then fix the interest rate instead. Fuck up, and get your house foreclosed, but we'll let you keep it.

No problem! Everybody do stupid shit, because the tax payers are here to bail out whatever asinine play you make. See the Florida Trust Fund above? That's just the beginning.

Greenspan said as much about a month ago, because he could smell this bullshit on the horizon.




Didn't you previously blame Bush for the S&L bullshit? This smells very similar.

This is the government fucking you in the ass for the benefit of the rich, once again, yet they were able to package it this time as social welfare...so some stupid motherfuckers are lapping it up.

Fucking burns my ass. Fucking Ron Paul would be saying pay your mortgage or get the fuck out of the house. Make bad loans - then shut your fucking bank down because you're too stupid to operate. Stupid cunts.

[LoungeMachine]

Re: Re: Re: 5-Year mortgage rates to be frozen?

Originally posted by Blackflag
In short, it's complete bullshit.

Let's start by just ignoring the fundamental unfairness of rewarding irresponsible behavior. People need to realize that this isn't about helping 'people.' It's about helping the institutions out that have money out invested in the marketplace. Did you see the stock market today? This isn't the social welfare they're selling it as, like everybody loves so much.

So the responsible people/banks - who only get /give mortgages with fixed rates for amounts that make sense? Fuck them.

The irresponsible people? They get a break. The banks who loan money to bad credit risks? They get a break.

But let's ignore that and look at the real problem:

1. Somebody is going to pay for this. That statement about it not costing government money is bullshit. It's a shell game, because the money ultimately was borrowed by the banks from a federal bank.

Either the banks will get a break on their loans in exchange for making this deal - which is a direct hit on tax dollars. Or future mortgage rates will go up (or loans harder to get - same difference) for the responsible borrowers. But somebody is going to pay for this. It's not Bush, and it's not the bank - it's you.



2. When the government intervenes in the market and sends a signal of unpredictability, it's bad for everybody. The signal here is - go ahead and be irresponsible. Make irresponsible loans. Tell everybody what your bank's income will be in the future, then fix the interest rate instead. Fuck up, and get your house foreclosed, but we'll let you keep it.

No problem! Everybody do stupid shit, because the tax payers are here to bail out whatever asinine play you make. See the Florida Trust Fund above? That's just the beginning.

Greenspan said as much about a month ago, because he could smell this bullshit on the horizon.




Didn't you previously blame Bush for the S&L bullshit? This smells very similar.

This is the government fucking you in the ass for the benefit of the rich, once again, yet they were able to package it this time as social welfare...so some stupid motherfuckers are lapping it up.

Fucking burns my ass. Fucking Ron Paul would be saying pay your mortgage or get the fuck out of the house. Make bad loans - then shut your fucking bank down because you're too stupid to operate. Stupid cunts.

Yeah, the more I've been reading today, the more I agree with you.

Obviously it sure as hell didnt SMELL right considering this administration's track record of CORPORATE WELFARE.

But I bet you've got some skin in this. I've never seen you so wound up over something in here.

[Blackflag]

(Actually, I'm long in the market, short in real estate. :D ) Blatant shit like this just burns my ass to no end. I'm living proof, he's helping douchebags like me.

[Combat Ready]

Wish I had been more irresponsible and signed on to an adjustable rate with a teaser 3% or 4%. But no---I had to lock in with the fixed rate.

Lounge is right though---Bush signed off on it. I'll tell ya---He's spending almost as much as any Lib/socialist would. Mother fucking republians are selling out....Big time. Have been for 7 years or so.

Government should stay out of the fucking way. People should be able to make their own decisions----and deal with the results of said decisions. What a fucking joke!

[Combat Ready]

Originally posted by Blackflag
In short, it's complete bullshit.

Let's start by just ignoring the fundamental unfairness of rewarding irresponsible behavior. People need to realize that this isn't about helping 'people.' It's about helping the institutions out that have money out invested in the marketplace. Did you see the stock market today? This isn't the social welfare they're selling it as, like everybody loves so much.

So the responsible people/banks - who only get /give mortgages with fixed rates for amounts that make sense? Fuck them.

The irresponsible people? They get a break. The banks who loan money to bad credit risks? They get a break.

But let's ignore that and look at the real problem:

1. Somebody is going to pay for this. That statement about it not costing government money is bullshit. It's a shell game, because the money ultimately was borrowed by the banks from a federal bank.

Either the banks will get a break on their loans in exchange for making this deal - which is a direct hit on tax dollars. Or future mortgage rates will go up (or loans harder to get - same difference) for the responsible borrowers. But somebody is going to pay for this. It's not Bush, and it's not the bank - it's you.



2. When the government intervenes in the market and sends a signal of unpredictability, it's bad for everybody. The signal here is - go ahead and be irresponsible. Make irresponsible loans. Tell everybody what your bank's income will be in the future, then fix the interest rate instead. Fuck up, and get your house foreclosed, but we'll let you keep it.

No problem! Everybody do stupid shit, because the tax payers are here to bail out whatever asinine play you make. See the Florida Trust Fund above? That's just the beginning.

Greenspan said as much about a month ago, because he could smell this bullshit on the horizon.




Didn't you previously blame Bush for the S&L bullshit? This smells very similar.

This is the government fucking you in the ass for the benefit of the rich, once again, yet they were able to package it this time as social welfare...so some stupid motherfuckers are lapping it up.

Fucking burns my ass. Fucking Ron Paul would be saying pay your mortgage or get the fuck out of the house. Make bad loans - then shut your fucking bank down because you're too stupid to operate. Stupid cunts.

Yepper---all true.

[DrMaddVibe]

Originally posted by LoungeMachine


You really are an idiot.

For starters, moron, this was a REPUBLICAN Administrations "plan"

Second, according to the REPUBLICAN Sec. of Treasury no goverment funds would be at risk.

This Crisis happened under a REPUBLICAN Administration's watch.


On the bright side, your double-wide will probably remain safe for you and Mrs. Jenny Craig

WRONG AGAIN.

[scamper]

Originally posted by Combat Ready
He's spending almost as much as any Lib/socialist would. Mother fucking republians are selling out....Big time. Have been for 7 years or so.

He's handed out more money than any other president. He's also made our government bigger than ever. He's lied about everything since taking office. Worst president ever? It's going to take forever to get out of this mess.

[LoungeMachine]

Originally posted by DrMaddVibe
WRONG AGAIN.

Ooops.

You're right.

You're still in a single-wide.

It's your wife that's the double-wide.

my bad.

[DrMaddVibe]

And you're STILL Kip Winger!

[steve]

Re: Re: Re: 5-Year mortgage rates to be frozen?

Originally posted by Blackflag
In short, it's complete bullshit.

Let's start by just ignoring the fundamental unfairness of rewarding irresponsible behavior. People need to realize that this isn't about helping 'people.' It's about helping the institutions out that have money out invested in the marketplace. Did you see the stock market today? This isn't the social welfare they're selling it as, like everybody loves so much.

So the responsible people/banks - who only get /give mortgages with fixed rates for amounts that make sense? Fuck them.

The irresponsible people? They get a break. The banks who loan money to bad credit risks? They get a break.

But let's ignore that and look at the real problem:

1. Somebody is going to pay for this. That statement about it not costing government money is bullshit. It's a shell game, because the money ultimately was borrowed by the banks from a federal bank.

Either the banks will get a break on their loans in exchange for making this deal - which is a direct hit on tax dollars. Or future mortgage rates will go up (or loans harder to get - same difference) for the responsible borrowers. But somebody is going to pay for this. It's not Bush, and it's not the bank - it's you.



2. When the government intervenes in the market and sends a signal of unpredictability, it's bad for everybody. The signal here is - go ahead and be irresponsible. Make irresponsible loans. Tell everybody what your bank's income will be in the future, then fix the interest rate instead. Fuck up, and get your house foreclosed, but we'll let you keep it.

No problem! Everybody do stupid shit, because the tax payers are here to bail out whatever asinine play you make. See the Florida Trust Fund above? That's just the beginning.

Greenspan said as much about a month ago, because he could smell this bullshit on the horizon.




Didn't you previously blame Bush for the S&L bullshit? This smells very similar.

This is the government fucking you in the ass for the benefit of the rich, once again, yet they were able to package it this time as social welfare...so some stupid motherfuckers are lapping it up.

A M E N!

[steve]

And while we're talking about the concept of a "safety net", let us not forget that even the most liberal of concepts don't expect the government to provide citizens with mansions - and in some cases, this is exactly what is happening.

I'm all for a net when it comes to school lunches, or building homeless shelters, making sure our elderly don't end up destitute (social security), and even a basic health care.

But under no argument of a social welfare system does one have the right to buy something waaaaaaaay over their budget and then expect a handout to pay for it. By the same token, citizens have no obligation to bail out businesses who engage in seriously reckless (bordering on illegal) lending practices.

Also, anybody else think Bush is getting desperate about protecting his legacy? Conceivably, even with leaving the next Pres with a mess of a foreign policy, at least Bush could have pointed at 6 or 7 years of economic growth. But with the housing bubble bursting sooner than later, we might be looking at a recession that could start the last year of his term and last several years, ruining the last mirage of success he could point to.

[Nitro Express]

The begining of the end was when the Federal Reserve Act was voted into law in 1913. This took the control of the money supply away from the elected govt. and put it into the hands of a private bank owned by private investors. It put a select few in charge of our money supply. The coffin nail was when Nixon took us off the gold standard in 1972. This allowed the Fed to print money at will and ruined the value of the US dollar since.

Our currency should be based on a commodity that trades at market prices. This eliminates the runaway inflation caused by deficite spending. The argument that we wouldn't have enough money is stupid. A penny would be worth something again. You just take the pie you have and cut it up into smaller slivers if you have to.

We are awash in cheap dollars and the low interest rates only creat bubble economies that inflate and bust hard. It's not good policy by any means.

[Nitro Express]

If there isn't enough gold we could have Blowjob Notes. The Govt. could have a fixed number of select whores that people can trade their paper money in for a blowjob. That would keep it's value as good as silver or gold.

We could have notes based on the price of variouse sexual favors.

I should be fucking president! :D