Obama will fix all of this as goverment will be in control of health care, car industry, we own 85% of AIG, Home morgagee’s. So just sit back don’t pay anything and and let goverment work for you……it’s the Progressive American Way!!!
We are all going to get “bailed out” by the goverment. Don’t worry about who has to pay as we will leave that to our kids to fix……….
It might have happened under George, but the democrats control the congress and they have to write the bills and pass them thru, so it is not all George’s fault.
This did not all happen under the Bush administration. Clinton has taken on some of the blame for the economy and the housing market. He and his administration strong armed Fannie Mae and Freddie Mac into loaning money to people who were high risk. He did this to make him and his administration look like heros. Now look. All politicians need to take the blame, all parties, not just one. I’ll wait and see what Obama does. By the way, I’m a Republican and didn’t vote Obama, but he’s in there now so I’ll wait on my opinion of him.
the housing collapse was created by Bill clinton, barney franks, franklin rains, and chris dodd. even the new york times had an article predicting this in 1999. even obama had a hand in it when he and 7 other lawyers sued citi-group in 2004 for discrimination because they wouldn’t loan money to minorities that couldn’t afford to pay the loans back and won.
I pretty much agree with Debbie. Both parties have responsibility. And if you think Clinton and the democrats were alone in starting this stituation…consider this…Republicans had control of the house and senate and passed legislation that started much of this (of course Clinton signed it into law).
You mean to tell me that no one minded the fence for the last 7-8 years. Stop it, this housing issue was based solely on greed. Greed of the lender & consumer.
Its easy to point fingers now that everything has hit the fan.
Dems and Reps both have to take some accountability.
More importantly the consumers and loan originators have to shoulder much of the blame.
If your going to purchase the largest item of your lifetime, don’t you have some responsibility to understand exactly what type of loan contract you are signing up for? Many of these people who’s ARM came due and were not able to pay, shouldn’t have been in those homes to begin with. They went in with the idea that the housing market would continue to climb at record rates and when their ARM came due in 3 or 5 years, they would have a good deal of equity in it to sell or refinance. That Bet by the consumers put them in this position.
Secondly, the loan originators were allowed to act recklessly. Who regulates these guys??? No one. What kind of license or qualifications do you need to be a mortgage broker??? None. You had no oversight or regulations for these guys and they capitalized on it. I had many guys I knew that were making 100K, 200K closing 10 loans every month. Stated income loans could be about the dumbest thing I’ve ever heard. Who in their right mind would allow this? There was more underwriting involved in buying a used car, than a 350K house.
Point being, when you throw common sense out the window and greed takes over you run the risk of todays housing mess to occur.
Quite pointing all of our fingers in the direction of the politicians and lets start holding people accountable at the point of sale.
I thought it was all about naked credit swap derivitives or something. The problem isnt only that people cant pay their mortgages. They could all be paid off with like 80 billion or something.
This is bigger than that – So dont tell me this junk about how this was caused by a few poor people getting loans.
Plus a lot of the people getting loans they cant afford are people that are resonably well off.
Right on Independent. The politicians, banks, & mortgage brokers loaded the gun but the consumer pulled the trigger. Everyone is to blame. While it’s a great goal to have everyone in this country own a home, the fact is that some people just haven’t earned it. They didn’t save enough for their DP nor did they have incomes or the job stability to support their dream home.
Here’s the best example of lack of responsibility: There are people walking away from their homes, not because they can’t pay, but because the value has dropped and they don’t think it’s fair for them to pay for something that has dropped in value. They never deserved a home to begin with.
We are all going to wake up on January 21st and have a NEW and Improved President Obama. He is going to make everything hunkydory and fix it all! Aren’t we all just SO lucky. On that note…. I’d like to teach the world to sing, in perfect harmony, I’d like to build the world a home, and furnish it with love. Grow apple trees and honey bees and snow white turtle doves……..
What about car payment? Not even registering….
Car payments fall under loans, so it came in at number 3.
Obama will fix all of this as goverment will be in control of health care, car industry, we own 85% of AIG, Home morgagee’s. So just sit back don’t pay anything and and let goverment work for you……it’s the Progressive American Way!!!
We are all going to get “bailed out” by the goverment. Don’t worry about who has to pay as we will leave that to our kids to fix……….
Thank you
Obama president elect
Ha, ha, ha, ha, ha….all this garbage happened under the George W. Bush administration….
So how did those two votes for Bush work out fer ya?
Here Here Georgy Girl!!
My kids are already paying for the Bush Regime! Maybe now, they will have something to look forward to!
OMG,
Thank you for your support and your correct your kids will have something to look forward to……(THE BILL)
Thank you everyone and again just sit back don’t pay nothing and your goverment will bail you out……..
That is why you hired me correct????
This is going to be fun…hehe
Obama president elect
Lyers.
It might have happened under George, but the democrats control the congress and they have to write the bills and pass them thru, so it is not all George’s fault.
This did not all happen under the Bush administration. Clinton has taken on some of the blame for the economy and the housing market. He and his administration strong armed Fannie Mae and Freddie Mac into loaning money to people who were high risk. He did this to make him and his administration look like heros. Now look. All politicians need to take the blame, all parties, not just one. I’ll wait and see what Obama does. By the way, I’m a Republican and didn’t vote Obama, but he’s in there now so I’ll wait on my opinion of him.
the housing collapse was created by Bill clinton, barney franks, franklin rains, and chris dodd. even the new york times had an article predicting this in 1999. even obama had a hand in it when he and 7 other lawyers sued citi-group in 2004 for discrimination because they wouldn’t loan money to minorities that couldn’t afford to pay the loans back and won.
I pretty much agree with Debbie. Both parties have responsibility. And if you think Clinton and the democrats were alone in starting this stituation…consider this…Republicans had control of the house and senate and passed legislation that started much of this (of course Clinton signed it into law).
You mean to tell me that no one minded the fence for the last 7-8 years. Stop it, this housing issue was based solely on greed. Greed of the lender & consumer.
when the banks and mortgage companies were issuing these “lyer loans” “ARMS” ect… WHO was the underwriter of these loans?????????
Freddie and Fanny………They told both banks and mortage lenders just hit the button and get these loans out there, WE WILL BACK YOU………
Congress and Bill loved it cause they could then get in front of you and me and say
SEE WE ARE PUTTING MORE AMERICANS IN HOMES ISN’T THIS GRAND!!!!!
All along it was a house of cards…..But then again they are politions and don’t care other then getting rich and re-elected.
Democrates loved it cause it got people who could never afford the loan into homes they should not have been in.
Republicians loved it as they were buying the stock and watching it skyrocket……
BOOM we are now paying for it.
Congradulations AMERICA…….GREED KILLS
It is all Scooby-Doo’s fault….no wait, it is Fred Flintstone’s fault. Placing blame at this point is moot.
Its easy to point fingers now that everything has hit the fan.
Dems and Reps both have to take some accountability.
More importantly the consumers and loan originators have to shoulder much of the blame.
If your going to purchase the largest item of your lifetime, don’t you have some responsibility to understand exactly what type of loan contract you are signing up for? Many of these people who’s ARM came due and were not able to pay, shouldn’t have been in those homes to begin with. They went in with the idea that the housing market would continue to climb at record rates and when their ARM came due in 3 or 5 years, they would have a good deal of equity in it to sell or refinance. That Bet by the consumers put them in this position.
Secondly, the loan originators were allowed to act recklessly. Who regulates these guys??? No one. What kind of license or qualifications do you need to be a mortgage broker??? None. You had no oversight or regulations for these guys and they capitalized on it. I had many guys I knew that were making 100K, 200K closing 10 loans every month. Stated income loans could be about the dumbest thing I’ve ever heard. Who in their right mind would allow this? There was more underwriting involved in buying a used car, than a 350K house.
Point being, when you throw common sense out the window and greed takes over you run the risk of todays housing mess to occur.
Quite pointing all of our fingers in the direction of the politicians and lets start holding people accountable at the point of sale.
I thought it was all about naked credit swap derivitives or something. The problem isnt only that people cant pay their mortgages. They could all be paid off with like 80 billion or something.
This is bigger than that – So dont tell me this junk about how this was caused by a few poor people getting loans.
Plus a lot of the people getting loans they cant afford are people that are resonably well off.
Right on Independent. The politicians, banks, & mortgage brokers loaded the gun but the consumer pulled the trigger. Everyone is to blame. While it’s a great goal to have everyone in this country own a home, the fact is that some people just haven’t earned it. They didn’t save enough for their DP nor did they have incomes or the job stability to support their dream home.
Here’s the best example of lack of responsibility: There are people walking away from their homes, not because they can’t pay, but because the value has dropped and they don’t think it’s fair for them to pay for something that has dropped in value. They never deserved a home to begin with.
That is a bit harsh, all people deserve a home.
We are all going to wake up on January 21st and have a NEW and Improved President Obama. He is going to make everything hunkydory and fix it all! Aren’t we all just SO lucky. On that note…. I’d like to teach the world to sing, in perfect harmony, I’d like to build the world a home, and furnish it with love. Grow apple trees and honey bees and snow white turtle doves……..