While on the campaign trail a video shows Obama saying the following.
1- George Bush has run our debt to over $4 trillion, I will reduce it. I don't think that happened.
2- My budget will straighten everything out. What budget!
Lining up re-election funds at our expense,
http://www.readersupportednews.org/off- … ty-bankers
Those who received sub-prime mortgages were not victims of greedy bankers they were victims of their own greed. No job no problem, do you think those applying for loans were shocked to find out they had no income? Nobody held a gun to their heads and made them sign contracts they knew they could never honor. Yes the greedy bankers are at fault but so are the greedy buyers.
Apparently you didn't read it. If those banks were not, so fast to rubber stamp normally un approvable loans this would not of happened. People were actually being solicited to refinance or buy larger. They tried it with me ,so stop it.
Modern, It's always centralize. One Nation Under Obama. H
I can't afford to buy a house now or ever. Someone says I can . Woweee. So that makes me greedy, to want to own a house. What does that make the billionaires then?
Absolutely that makes you greedy, you know you can't afford it so why put yourself in a position that will screw you later? One word, greed.
knol, Don't think of others. Some will always have more, some will always have less. It has to do with any person being able to achieve on their own, but the laws must allow equal opportunity for all.
Giving a very low mortage rate with no downpayment, leads to foreclosure in a bad economy. H
Because I am stupid. I didn't know I couldn't afford it because I was told I could.
Ok two words stupid and greed. Happy? I don't know anyone who has a job or in a lot of cases no job who were so stupid they didn't know they couldn't afford the payments. Its not like it came as a surprise the day you closed.
knol, If stupid, you will want more than you can afford. H
I met lots of people that were promised a good plaster job, but the plasters used fiber-glass tape, and gee - a lot of it cracked up. They should have seen that coming. They were told they were going to get a good job.
Are you seriously trying to equate the two? When you sign the papers to buy a house you know exactly what the terms are. When you sign a contract with a contractor you SHOULD know exactly what materials they will use. If you sign a mortgage agreement knowing the house payment is X then you should be able to pay X. If you can't then you are no less greedy than the plasterer using fiberglass tape. As an aside I will attest to the fact that self adhering fiberglass tape is crap, use paper tape or suffer the consequence.
Where is they person that approves or denies the loan according to the proof of ability to repay this loan during all of this? Being that these loans were chopped up and sold as AAA securities,the loan issuer was the gatekeeper. They not only made an irresponsible loan to someone that 30 seconds of math would prove,they knowingly defrauded the investor of those mortgage backed securities. These were sold world wide,they don't like to bring that up,that's why the whole world is FUBAR right now.We won't get into those "Unsustainable" pensions right now.De- regulation let the financial sector rob us blind,wake up and deal with it.
"When you sign a contract with a contractor you SHOULD know exactly what materials they will use."
How many people know anything about the materials?
Lot of shoulda/woulda. There are no con-artists. There are only stupid people.
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