Comments on: Rant Away! http://www.noquarterusa.net/blog/15362/rant-away/ Fri, 25 May 2012 01:32:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Linda C. http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148728 Linda C. Wed, 25 Feb 2009 13:14:30 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148728 The mortgage crisis that started in subprimes and all of those "undeserving" has gone way beyond that now. I am not comparing apples to oranges. However, the oranges are simply dismissed as not existing. The oranges do exist and they are going to be overtaking the apples in the bushel. Also what is not being mentioned is the systemic fraud perpetrated upon people by banks and mortgage brokers. The Congresswoman from Toledo is encouraging people to squat in their house until the various agencies can produce the original loan papers. In many cases, the loan has been divided and sold so many times that no one can find the original paperwork for the loan anymore. People can be irate at Bernie Maddoff's Ponzi scheme. However, from my standpoint, the mortgage industry and unregulated security trading is the largest Ponzi scheme going. The mortgage crisis that started in subprimes and all of those “undeserving” has gone way beyond that now. I am not comparing apples to oranges. However, the oranges are simply dismissed as not existing. The oranges do exist and they are going to be overtaking the apples in the bushel. Also what is not being mentioned is the systemic fraud perpetrated upon people by banks and mortgage brokers.

The Congresswoman from Toledo is encouraging people to squat in their house until the various agencies can produce the original loan papers. In many cases, the loan has been divided and sold so many times that no one can find the original paperwork for the loan anymore.

People can be irate at Bernie Maddoff’s Ponzi scheme. However, from my standpoint, the mortgage industry and unregulated security trading is the largest Ponzi scheme going.

]]> By: I'm a Linda too http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148566 I'm a Linda too Wed, 25 Feb 2009 03:41:54 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148566 Oh yes, a student of ACORN she was. Change the subject and make any claim you want. Too bad she didn't try the "they are taking care of the elderly in between working 3 jobs and volunteering at their church and have paid every bill, but are being thrown out of their homes." claim lmao But, the man beat her. And I love how he called out their tactics. Oh yes, a student of ACORN she was. Change the subject and make any claim you want. Too bad she didn’t try the “they are taking care of the elderly in between working 3 jobs and volunteering at their church and have paid every bill, but are being thrown out of their homes.” claim lmao

But, the man beat her. And I love how he called out their tactics.

]]> By: d2d http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148340 d2d Wed, 25 Feb 2009 01:46:04 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148340 I appreciate the point you are making, however I don't believe this is the point of RRRAmy's post. Many home buyers purchased homes they simply could not afford period. They overestimated their salaries and other assets to secure a bank loan. The banks looked the other way and gave these individuals loans. Both, IMHO, are at fault, but why should the taxpayer bail them out? Why is this ok? The point I believe you are trying to make is that there are those homeowners who through no fault of their own are unable to pay their mortgages i.e., laid off DHL employees. These are individuals that likely purchased a home within their means and made their payments on time, but now may be unable to continue making said payments. If my assessment is correct then I'd say you are comparing apples to oranges, and missed the point of her post. There are those folks who have a credit history of making their payments on time vs those who have a credit history who were never able to make their payments let alone making them on time. The latter should not have been given a loan in the first place. If we the taxpayer are going to bail out anyone it is those who have made the effort to live within there means and made good on their bank loans. I appreciate the point you are making, however I don’t believe this is the point of RRRAmy’s post.

Many home buyers purchased homes they simply could not afford period. They overestimated their salaries and other assets to secure a bank loan. The banks looked the other way and gave these individuals loans. Both, IMHO, are at fault, but why should the taxpayer bail them out? Why is this ok?

The point I believe you are trying to make is that there are those homeowners who through no fault of their own are unable to pay their mortgages i.e., laid off DHL employees. These are individuals that likely purchased a home within their means and made their payments on time, but now may be unable to continue making said payments.

If my assessment is correct then I’d say you are comparing apples to oranges, and missed the point of her post.

There are those folks who have a credit history of making their payments on time vs those who have a credit history who were never able to make their payments let alone making them on time. The latter should not have been given a loan in the first place. If we the taxpayer are going to bail out anyone it is those who have made the effort to live within there means and made good on their bank loans.

]]> By: Ferd Berfle http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148317 Ferd Berfle Wed, 25 Feb 2009 01:08:39 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148317 Perhaps WALNUT: We Are Living Never Under Tyranny Perhaps WALNUT:
We Are Living Never Under Tyranny

]]> By: Ferd Berfle http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148313 Ferd Berfle Wed, 25 Feb 2009 01:00:51 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148313 That's for sure. We had 8 years of the redistribution of wealth upwards now to be followed by the redistribution of wealth downwards. The starting point in both instances is with the middle class. I'm just sick of it. However, our being here means we aren't being herded--only the ignorant, the intellectually lazy, and the Kool-Aide addled are. The ones who see through this charade are bystanders to a horrific accident that never seems to end. That’s for sure. We had 8 years of the redistribution of wealth upwards now to be followed by the redistribution of wealth downwards. The starting point in both instances is with the middle class. I’m just sick of it. However, our being here means we aren’t being herded–only the ignorant, the intellectually lazy, and the Kool-Aide addled are.

The ones who see through this charade are bystanders to a horrific accident that never seems to end.

]]> By: No-nonsense-Nancy http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148310 No-nonsense-Nancy Wed, 25 Feb 2009 00:54:27 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148310 I'm struggling every month to pay my mortgage and I live in a modest home. I didn't over extend myself and I have a safe and responsible loan. I just don't see how I can or should help pay someone else's mortgage if they over extended themselves. They can't put all the blame on the banks. If you can't afford to stay in a house then you need to go somewhere else. It's pretty simple, really. I’m struggling every month to pay my mortgage and I live in a modest home. I didn’t over extend myself and I have a safe and responsible loan. I just don’t see how I can or should help pay someone else’s mortgage if they over extended themselves. They can’t put all the blame on the banks. If you can’t afford to stay in a house then you need to go somewhere else. It’s pretty simple, really.

]]> By: Sassy http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148309 Sassy Wed, 25 Feb 2009 00:53:52 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148309 When will it sink in that the stimulus package is a massive debt? A debt so large that it could take this country down! The very people who could not afford the homes they moved into are clamoring for more hand-outs! At some point in time, this money will have to be repaid...betcha won't see hide nor hair of them then! When will it sink in that the stimulus package is a massive debt?
A debt so large that it could take this country down!
The very people who could not afford the homes they moved into are clamoring for more hand-outs!
At some point in time, this money will have to be repaid…betcha won’t see hide nor hair of them then!

]]> By: cc http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148305 cc Wed, 25 Feb 2009 00:49:40 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148305 did president select say his ancestors owned slaves? well, pony up the money barack...time to pay your fair share. did president select say his ancestors owned slaves? well, pony up the money barack…time to pay your fair share.

]]> By: FLDemFem http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148291 FLDemFem Wed, 25 Feb 2009 00:35:04 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148291 If they want reparations they should ask the British and the Spanish, since they were ones who started the slave trade in the Americas. And they should also look up the descendants of the thousands free blacks in the South who owned slaves. They should be paying up too. They should pay double, for enslaving their own people. FYI, the percentage of whites who owned slaves was 4.06%, the percentage of free blacks who owned slaves was 28%. Let Obummer explain that one away. If they want reparations they should ask the British and the Spanish, since they were ones who started the slave trade in the Americas. And they should also look up the descendants of the thousands free blacks in the South who owned slaves. They should be paying up too. They should pay double, for enslaving their own people. FYI, the percentage of whites who owned slaves was 4.06%, the percentage of free blacks who owned slaves was 28%. Let Obummer explain that one away.

]]> By: beebop http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148273 beebop Wed, 25 Feb 2009 00:16:19 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148273 No. What's needed is an organization like ACORN that can take them on head to head. No. What’s needed is an organization like ACORN that can take them on head to head.

]]> By: Linda C. http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148268 Linda C. Wed, 25 Feb 2009 00:11:45 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148268 I just think of the 8 thousand people who were laid off in one small town in Ohio when DHL closed up. Are they now the losers too? Are they irresponsible people? The lazy good for nothings. I just think of the 8 thousand people who were laid off in one small town in Ohio when DHL closed up. Are they now the losers too? Are they irresponsible people? The lazy good for nothings.

]]> By: tango http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148262 tango Wed, 25 Feb 2009 00:03:11 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148262 I also loved how the mortgage crisis bill would not apply to those with mortgages over $400,000. I guess because people who could initially afford a home like that must not be susceptible to economic hardtimes. So what if the person might have had a great salary and bought a home that wasn't by any means out of step with his income and expenses at the time and maybe has since lost a job and can't make his mortgage payments. Too bad, you're rich, no help for you. Reminds me of the soup nazi - "very good, very good. No help for you! Come back in a year!" http://www.youtube.com/watch?v=YJyGJQx2Fgk&feature=related Also, this mornings Houston Chronicle had a story about giving tax payer money to low income people so they could pay off some bills, increase their FICO scores and get a mortgage. That way they could then buy homes in "disadvantaged Houston neighborhoods" so to revitalize them. They also can't earn more than 80% of Houstons median income. Due to the uproar, the idea has since been shelved because the idea that taxpayers should pay off an individuals debt has not been happily received. http://www.chron.com/disp/story.mpl/front/6277344.html I also loved how the mortgage crisis bill would not apply to those with mortgages over $400,000. I guess because people who could initially afford a home like that must not be susceptible to economic hardtimes. So what if the person might have had a great salary and bought a home that wasn’t by any means out of step with his income and expenses at the time and maybe has since lost a job and can’t make his mortgage payments. Too bad, you’re rich, no help for you. Reminds me of the soup nazi – “very good, very good. No help for you! Come back in a year!”

http://www.youtube.com/watch?v=YJyGJQx2Fgk&feature=related

Also, this mornings Houston Chronicle had a story about giving tax payer money to low income people so they could pay off some bills, increase their FICO scores and get a mortgage. That way they could then buy homes in “disadvantaged Houston neighborhoods” so to revitalize them. They also can’t earn more than 80% of Houstons median income. Due to the uproar, the idea has since been shelved because the idea that taxpayers should pay off an individuals debt has not been happily received.

http://www.chron.com/disp/story.mpl/front/6277344.html

]]> By: betty http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148256 betty Tue, 24 Feb 2009 23:49:42 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148256 I agree, and not only does the middle class have no effective representation - the two parties are actively against us. As long as they can get to our earning before we can (payroll deductions)they don't care they will just flip us the bird. I agree, and not only does the middle class have no effective representation – the two parties are actively against us.

As long as they can get to our earning before we can (payroll deductions)they don’t care they will just flip us the bird.

]]> By: socalannie http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148255 socalannie Tue, 24 Feb 2009 23:47:06 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148255 Very interesting post, Rev Amy. Loved the Arlo Guthrie part. Very interesting post, Rev Amy. Loved the Arlo Guthrie part.

]]> By: Chris http://www.noquarterusa.net/blog/15362/rant-away/#comment-1148254 Chris Tue, 24 Feb 2009 23:46:20 +0000 http://www.noquarterusa.net/blog/?p=15362#comment-1148254 There is no mortgage outrage other than a few right-wing media buffoons and NQbots. No easy answer to fix the mortgage problem. Whatever is proposed will be critized. Easy thing would to do nothing, but that will not help get the economy out of this downward spiral. If you buyback the underwater mortgages you will be critized that you are bailing out the banks. If you try and help homeowners to stay in their houses you will be critized, as these wing-nuts do. If you do nothing then the economy will continue to spiral down. You choose what to do? There is no mortgage outrage other than a few right-wing media buffoons and NQbots.

No easy answer to fix the mortgage problem. Whatever is proposed will be critized. Easy thing would to do nothing, but that will not help get the economy out of this downward spiral.

If you buyback the underwater mortgages you will be critized that you are bailing out the banks. If you try and help homeowners to stay in their houses you will be critized, as these wing-nuts do. If you do nothing then the economy will continue to spiral down.

You choose what to do?

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