Comments on: Again, Homeowners Should Not Be Bailed Out. Really! http://www.blurtdaily.com/2009/01/15/again-homeowners-should-not-be-bailed-out-really/ | opinion and more opinion | Wed, 08 Sep 2010 23:41:12 +0000 http://wordpress.org/?v=2.6.5 By: Maggie’s Blog » Blog Archive » India Logistics News » Blog Archive » Germany Ready To Transfer … http://www.blurtdaily.com/2009/01/15/again-homeowners-should-not-be-bailed-out-really/#comment-671 Maggie’s Blog » Blog Archive » India Logistics News » Blog Archive » Germany Ready To Transfer … Sun, 22 Feb 2009 04:05:33 +0000 http://www.blurtdaily.com/?p=409#comment-671 [...] Blurt Daily » Blog Archive » Again, Homeowners Should Not Be … [...] [...] Blurt Daily » Blog Archive » Again, Homeowners Should Not Be … [...]

]]> By: Jason http://www.blurtdaily.com/2009/01/15/again-homeowners-should-not-be-bailed-out-really/#comment-335 Jason Fri, 16 Jan 2009 14:30:59 +0000 http://www.blurtdaily.com/?p=409#comment-335 I freaking hate the democrats. That's why we shouldn't have elected them. I freaking hate the democrats. That’s why we shouldn’t have elected them.

]]> By: Brennan http://www.blurtdaily.com/2009/01/15/again-homeowners-should-not-be-bailed-out-really/#comment-333 Brennan Fri, 16 Jan 2009 07:19:26 +0000 http://www.blurtdaily.com/?p=409#comment-333 These should be the consequences of the decisions that they have made. Unfortunately we live in a time where very little thought is given to the consequences of actions. We live in a society where consequences only exist if you get caught. So you have all of these clever ideas and schemes people, institution, and government are coming up with to avoid consequences. I believe the purpose of the American government is lost with crooked politicians willing to do whatever it takes to get the popular vote regardless of the consequence. The thing that bothers me is that it will get worse before it gets better. Solid as Barack! These should be the consequences of the decisions that they have made. Unfortunately we live in a time where very little thought is given to the consequences of actions. We live in a society where consequences only exist if you get caught. So you have all of these clever ideas and schemes people, institution, and government are coming up with to avoid consequences.

I believe the purpose of the American government is lost with crooked politicians willing to do whatever it takes to get the popular vote regardless of the consequence.

The thing that bothers me is that it will get worse before it gets better.

Solid as Barack!

]]> By: Eric B. http://www.blurtdaily.com/2009/01/15/again-homeowners-should-not-be-bailed-out-really/#comment-331 Eric B. Thu, 15 Jan 2009 21:46:19 +0000 http://www.blurtdaily.com/?p=409#comment-331 I couldn't agree more. Its like they have the housing market confused with the financial market. Sure, securities made up of sub-prime mortgages have hurt the financial markets, but taking measures to keep people from foreclosing doesn't mean that someone won't eventually have to take a loss on the loan that is worth more than the house. This bailout makes me as mad as the first $850B (is $700 to $850 some kind of magic number cause every bailout seems to be in that range?). Two key provisions that I also hate are: 1) Fannie will be able to use some of the funds to offer refinancings at 120% of a home's value to prevent bankruptcy. What??? Who is the jack-A that will go for that deal? At least a bankruptcy is off your report in 7 or 11 years. 2) Everyone keeps talking about the $90 - $150B that will be used for infrastructure, roads, bridges, etc. I listened to an interview with Nancy Pelosi two days ago where she was asked how they were going to keep this money from going to pet projects. Her response was, "You won't be able to tie this money to any specific project because its not going to be used to build anything. It will be used for the study and research of these issues. The research behind bridges, the research behind highways. This isn't the Public Works bill of FDR." I don't think this point has been discussed anywhere. My impression is that everyone thinks we are going to be creating construction jobs to build roads, not jobs to research the building of roads. I couldn’t agree more. Its like they have the housing market confused with the financial market. Sure, securities made up of sub-prime mortgages have hurt the financial markets, but taking measures to keep people from foreclosing doesn’t mean that someone won’t eventually have to take a loss on the loan that is worth more than the house.

This bailout makes me as mad as the first $850B (is $700 to $850 some kind of magic number cause every bailout seems to be in that range?).

Two key provisions that I also hate are:

1) Fannie will be able to use some of the funds to offer refinancings at 120% of a home’s value to prevent bankruptcy. What??? Who is the jack-A that will go for that deal? At least a bankruptcy is off your report in 7 or 11 years.

2) Everyone keeps talking about the $90 - $150B that will be used for infrastructure, roads, bridges, etc. I listened to an interview with Nancy Pelosi two days ago where she was asked how they were going to keep this money from going to pet projects. Her response was, “You won’t be able to tie this money to any specific project because its not going to be used to build anything. It will be used for the study and research of these issues. The research behind bridges, the research behind highways. This isn’t the Public Works bill of FDR.” I don’t think this point has been discussed anywhere. My impression is that everyone thinks we are going to be creating construction jobs to build roads, not jobs to research the building of roads.

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