You Americans are just going to sit back while Obama nationalizes everything and not one mention? We’re slowly getting owned by China. No-one knows yet if this bailout money will do anything yet it’s over a trillion that has been borrowed and lent out. This isn’t America, sounds more like France!
They’re talking of yet another bailout and have accepted that AIG pay the bonuses out to millionaire execs. How come none of the bailout is going to everyday people who need it instead of banks who not only caused their own demise but are celebrating the bailout with more money than most of us will see. Ironic thing is, it’s our money.
You’ve all been duped. This further proves my point: companies run American, not the President.
And his foreign policy has not changed - he’s still bombing countries without their permission and creating more tension. Yay, Mexico next. That’ll please a lot of people. You liberals should move to Paris, seriously.
Well if the banks fail after having borrowed all this money guess what? government owns the banks. because right now even the federal bank is not owned or run by the government. it’s all privately owned.
also i think omama’s new ideas for bailing out struggling businesses by making loans much easier to get for small businesses is just party of that plan. I mean stimulating job growth is great, but say with ford you lend them the money to build cars for another 3 months… ok that’s 3 more months worth of cars that will sit in lots and not get sold once they’re made because people are poor and can’t afford them. so really all this is doing is making it even MORE likely that the small and even the large business will be endebted to the banks. And when the bank comes to collect and there is no money what can they take? well for one that land as collateral, the business itself is another thing… so these fold into the hands of the banks, who then fold into the hands of the government and next thing you know it’s helllo socialism…
The people who can afford a house already own one that they can’t sell without incurring a significant loss. People need to be able to move.
The mortgage and job loss issues need to be fixed first to stabilize personal finance. People who own houses can’t move to take new jobs because they can’t sell their house without losing their arse. There’s nothing like being $100k or more upside down on a mortgage and losing the 20% down payment plus what was paid down via payments. Some of us just want a house that is worth what we paid and continue to pay on in a different location that is closer to where we work. Without the property tax revenue from people who can afford the mortgage payments, the communities suffer (schools, trash collection, police, fire, after school programs, etc.) and the instability continues. The number of people with bad credit resulting from foreclosure/job loss continues to grow. As prices continue to increase (electricity, food, gasoline, tolls, etc.), more people will find themselves in foreclosure and forced to live in a tent or car because nobody will rent them an apartment.
I would have to give the Obama administration up to this point a “D”. Horrible cabinet appointments, a spending bill packed with earmarks, lack of transparency bailouts, AIG bonuses…
I stand by my opinion that it doesn’t matter if republicans or democrats occupy the whitehouse. America is heading the same direction no matter who’s steering the boat. I still think that Obama is probably a good man, but I don’t think he’ll be able to overcome his party’s corruption.
I heard he’s funding Stem Cell research??? Good on him!
Poor Obama has ALOT of shit to clean up remember Afra…Republican shit that is. Now it’s time for the Dems to run the country into the ground.
The banks really do suck and it’s amazing the people do just sit back and let them get away with it.
I’m not sure what’s happening in the USA but here in the UK the banks are being driven into the ground while the fat cats at the top are running away with millions? Again how long can this last?
For the most part its right wing excusatory bullshit. The only valid point he makes is about welfare states where some young single mothers exploit the system ie. get pregnant (often underage), no father around, get a free council house and the kids get neglected or mistreated. This happens because I’ve seen many examples.
But some of the other points he makes are cringeworthy. He exaggerates Europe’s declining birth rates (not that a decline is a very bad thing anyway, think limited resources and overpopulation) he suggests Europeans are unhappy because they don’t have the same impetus for their “vocation”, he undermines Sweden’s maternity leave policy (which is arguably the best in the world), he laments the fact there are empty churches in Sweden (he may not realise that Scandinavians are intelligent people). He frequently makes assumptions without any figures or references to back them up (even admits doing this)…
Exaggerated unsubstantiated fear mongering.
He may as well have said “THE BIG “S” IS COMING!, IT’S IN REVELATIONS PEOPLE!”
Right on Mooney, if it weren’t for the house anchor tied around my neck I wouldn’t have a care in the world. But, if I need to find a new job and need to relocate I will end up losing thousands of dollars because the value of my house is no higher than when I bought it in 2001.
I feel your pain. No realtor is going to show your house unless you pay them at least 6% commission. In FL, the seller pays closing costs.
I moved in 2005 to be 7 miles from work. I changed jobs in 2007 and now have to drive 62.5 miles to work. I tried to sell my house in January 2007, but that is right when the market really took a dive. I can’t compete with the 3 builders up the street from me selling new houses that are larger with more upgrades for 100k less than what I paid. The last thing this place needs is more new houses built. There is nobody to buy them or the existing houses. It’s going to take 10 years or more to sell all the lots.
I’m just about ready to call my mortgage company and ask them for a foreclosure/short sale house trade. I’m also just about ready to contact every congress/senate person I can get an address for and provide them with the solution to this issue.
Who needs a $1M salary per year to live?! Fuck AIG and their bonuses paid out to their executive staff with our tax money!
Where is our bailout?! At a minimum, we should be able to trade houses within the same mortgage company or have our mortgages canceled without impact to our credit. The mortgage companies/banks are already fucked; they need to work with us.
I know several people who make decent bank and are just barely hanging on. This is just the beginning of the housing foreclosure crisis - there will be more and much worse to follow in the second round.
[reply]At a minimum, we should be able to trade houses within the same mortgage company.
That’s a really great idea.
Late,
grmpysmrf[/reply]
It’s a win-win: No houses sitting empty, the mortgage company getting some money from the ceased houses (give a little to get a little), and people paying property taxes to fund the police, fire dept., schools, etc.
I can afford my mortgage payment; I need a house that is worth my payment. The mortgage company can take my house and put someone in it who can make a less expensive monthly payment with no required down payment.
Let’s face it, the mortgage companies are never going to recover the money from the total original loan amounts they have out. They need to resolve themselves to this fact and suck it up. Either that, or people better start getting busy by increasing the population so that in 18 to 20 years the next generation can occupy all these dilapidated houses.
I see websites like that one, and I’m trying to imagine wasting my life away being so wrapped up about crap like “The Matrix, X-Files, and The Simpsons — 9/11 Coincidence?”…nah, I have bigger fish to fry, like figuring out what I’m going to do for lunch today. I can’t imagine the miserable life that guy is leading.
Reminds me of the Bill Hick’s bit about the media. He turns on CNN and sees 'War! Famine! Disease! Depression! Recession!..", then looks outside his window, and hears crickets chirping.