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The Blame Game and the Subprime Mortgage Lending Meltdown

National News • August 22, 2007
The subprime mortgage lending blame game is in full swing — with people arguing about who's at fault for mortgage defaults, bond losses and lender failures — but "we're only in the very top of the ...

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Subject: RE: RE: RE: RE: RE: re:sad but true

Posted On: August 23, 2007, 9:16 am CDT
Posted By: gimme shelter
Comment:
No, not "volunteers" in the sense that they'll work for free, but people that you've entered into a voluntary arrangement with, as in, "if you provide this service for me, I'll pay you x amount. Agreed? O.K., let's work out the details." There are countless examples of private businesses doing things that some maintain "only the goverment can do!" such as private security firms, private mediation/arbitration firms (instead of a monopolized legal system), private business evaluation/rating firms (e.g., A.M. Best, J.D. Powers, etc.), etc. These arrangments work and do not require that people who have no interest (either financial or otherwise) be compelled to pay for them.

As far as the example of "who's going to prevent my car from being stolen," the police (or any other government agency) has no obligation or duty to do any such thing. And the government has admitted this in countless court decisions; their words have been (and this is almost verbatim) "government has no obligation or duty to provide services, even as elementary a duty as protection," for example, check the case of Bowers v. DeVito. And this makes intuitive sense; suppose your car gets stolen; you won't find a lawyer in the world (unless he wants to be disbarred) who will file a suit against the gov't/police dept. for "failure to fullfill duty to protect and/or prevent car from being stolen." Sure, you could try filing such a suit on your own (if you can get past the "justice system's" hatred of non-lawyers), but it will be thrown out for "failure to state a claim for which relief can be granted."

So, ponder that: people are forced to pay for police, etc., ostensibly under the belief that the police, etc. are obligated to "do something;" then the gov't comes out and plainly admits, with no shame whatsoever, they are not obligated to provide anything whatsoever. Suppose that a private firm did that. How long do you think it would be before the gov't rounded them up and put them all in jail? What do you think the mainstream media would make of that? "Private firm takes money and doen't provide anything in return!! Kill them all!! Burn down their houses!!"
Subject Posted By Posted On
Sub Prime Mortgage Failures Shrinivas Shikhare
Aug 28, 2007, 12:27 am
RE: RE: RE: media mogul - Our phony economy Mark
Aug 27, 2007, 3:56 pm
RE: RE: RE: RE: RE: media mogul - Our phony economy Shield
Aug 27, 2007, 3:41 pm
RE: RE: RE: RE: media mogul - Our phony economy GB
Aug 27, 2007, 3:33 pm
RE: RE: RE: media mogul - Our phony economy Shield
Aug 27, 2007, 3:29 pm
RE: RE: media mogul - Our phony economy GB
Aug 27, 2007, 3:24 pm
RE: media mogul - Our phony economy Mark
Aug 27, 2007, 3:21 pm
RE: RE: GREAT NEWS EVERYBODY!!!! High & Mighty
Aug 24, 2007, 10:20 am
RE: re;compman Compman
Aug 23, 2007, 3:27 pm
Scary comments today Sad but True
Aug 23, 2007, 3:26 pm
re;compman concerned agent
Aug 23, 2007, 3:09 pm
RE: RE: RE: RE: re:sad but true Shield
Aug 23, 2007, 2:21 pm
RE: GREAT NEWS EVERYBODY!!!! Compman
Aug 23, 2007, 1:43 pm
GREAT NEWS EVERYBODY!!!! Gill Fin
Aug 23, 2007, 1:30 pm
re: gimme shelter concerned agent
Aug 23, 2007, 10:41 am
RE: RE: RE: RE: RE: RE: RE: RE: re:sad but true GB
Aug 23, 2007, 10:35 am
Media Mogul Feed Up with Politics
Aug 23, 2007, 10:32 am
RE: RE: RE: RE: RE: RE: RE: re:sad but true gimme shelter
Aug 23, 2007, 10:19 am
RE: RE: RE: RE: RE: RE: re:sad but true GB
Aug 23, 2007, 9:20 am
RE: RE: RE: RE: RE: re:sad but true gimme shelter
Aug 23, 2007, 9:16 am
RE: RE: RE: RE: re:sad but true GB
Aug 23, 2007, 8:46 am
RE: RE: RE: re:sad but true gimme shelter
Aug 23, 2007, 8:24 am
RE: RE: re:sad but true GB
Aug 23, 2007, 8:14 am
RE: re:sad but true gimme shelter
Aug 23, 2007, 8:03 am
RE: re:sad but true Dodger
Aug 22, 2007, 9:14 pm
RE: re:sad but true underwriter
Aug 22, 2007, 6:06 pm
re:sad but true concerned agent
Aug 22, 2007, 6:03 pm
re:sad but true concerned agent
Aug 22, 2007, 5:27 pm
RE: RE: Not my fault LLH
Aug 22, 2007, 5:20 pm
RE: Not my fault Sad but True
Aug 22, 2007, 5:07 pm
RE: Not my fault HD
Aug 22, 2007, 4:49 pm
RE: Not my fault Compman
Aug 22, 2007, 4:18 pm
RE: Not my fault underwriter
Aug 22, 2007, 4:17 pm
RE: Not my fault Master of Reality
Aug 22, 2007, 4:17 pm
Not my fault Sad but true
Aug 22, 2007, 3:58 pm
RE: MEDIA MOGUL concerned agent
Aug 22, 2007, 3:43 pm
Re: media mogul concerned agent
Aug 22, 2007, 2:54 pm
RE: RE: RE: RE: RE: Our phony economy A. RIGHT-THE SAGA CONTINUES
Aug 22, 2007, 2:54 pm
RE: RE: RE: RE: Our phony economy GB
Aug 22, 2007, 2:38 pm
RE: RE: RE: Our phony economy ALWAYS RIGHT PART II
Aug 22, 2007, 2:29 pm
RE: RE: Our phony economy GB
Aug 22, 2007, 2:21 pm
RE: Our phony economy ALWAYS RIGHT
Aug 22, 2007, 2:16 pm
Our phony economy media mogul
Aug 22, 2007, 1:57 pm
correction GB
Aug 22, 2007, 1:54 pm
RE: Final comment GB
Aug 22, 2007, 1:53 pm
Final comment Homeowner
Aug 22, 2007, 1:40 pm
Homeowner Compman
Aug 22, 2007, 1:37 pm
RE: RE: stupid people DWT
Aug 22, 2007, 1:34 pm
RE: Sub Prime Mortgage Failures dwt
Aug 22, 2007, 1:31 pm
RE: stupid people Greedy
Aug 22, 2007, 1:27 pm
Professionals Homeowner
Aug 22, 2007, 1:24 pm
Sub Prime Mortgage Failures Mr Truth
Aug 22, 2007, 1:23 pm
RE: Mortgages DWT
Aug 22, 2007, 1:23 pm
RE: Mortgages Compman
Aug 22, 2007, 1:22 pm
RE: Mortgages Drewboy
Aug 22, 2007, 1:20 pm
Mortgages Homeowner
Aug 22, 2007, 1:09 pm
This is America Patriot
Aug 22, 2007, 1:06 pm
Related Story Homeowner
Aug 22, 2007, 1:04 pm
You are so right.... another guy named Rick
Aug 22, 2007, 12:00 pm
It's everyone's fault GB
Aug 22, 2007, 7:51 am
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