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Sep
30
More questions
Filed Under Political Shitheadery | Leave a Comment
From what I’ve been able to understand, banks and mortgages companies are holding loans that are nearing foreclosure, which will supposedly lead to the demise of the American economy. In his speech last week, Bush made it pretty clear that this mess was a direct result of being buying homes they couldn’t afford
I understand that people were approved loans they couldn’t afford, loans were given to people without verifying income, and that sub-prime lending was a risky proposition. Those poor bastards probably deserve to loose their homes.
I also understand that there were people who wanted to buy a home, proved they could buy a home, showed income statements, and maybe didn’t have the best credit score and bought with the hope of refinancing. These people are facing a substantial increase on their current mortgage payments and at the highest risk of foreclosure.
Why aren’t banks and lenders being proactive and renegotiating those loans? Wouldn’t it work to their advantage to offer an interest rate that a homeowner can afford over the next 30 years, rather than risk not getting payed at all?
The party’s over damnit, it’s time to do the right thing.
Sep
29
I have some questions
Filed Under Political Shitheadery | Leave a Comment
So, the house voted a resounding ‘Nay’ this afternoon and denied the bail out. What was supposed to bail out Wall Street and banks wasn’t as important as hurt feelings. At least that’s the way Barney Frank put it. Is that true? Is it because Pelosi made some poorly timed, idiotic, partisan speech blaming Republicans for this mess? And that Republicans care so little about the country that they would allow their fragile egos to be bruised?
Is this bailout necessary and why is it that once the bailout occurred we started seeing more and more banks jump ship and fail? Now there are rumblings of GE wanting a piece of this too? Does the largest capitalist country in the world have this many shitty business people that they’re failing at this rate?
Are all the CEOs in this country so consumed with greed and incompetence that they can’t fight their way back to the top? How did these morons get to a point in their careers that they could demand multi-million dollar salaries without proving their ability? Who hired them?
Then there’s this: If these banks are failing because, as Bush made clear, people were irresponsible when buying homes, wouldn’t it be a logical step for banks holding these mortgages with unreasonable interest rates to start calling people? Call people with 8, 9, 10, 11, 12 percent interest rates and see if they can pay 6 percent. Rather than take homes that are going to cost (what the mortgages companies are saying) $250,000 just for the paperwork.
I may be naive, but it seems to me that the more help that’s offered the more companies are going to want to a piece, rather than actually run a business responsibly. That may take work.
And wouldn’t it be logical for banks to get 6% for the next 30 years, rather than take on a house that in this market is depreciating in value?
Or does that make too much sense?
Sep
29
Bailout … the nays have it
Filed Under Political Shitheadery | Leave a Comment
I’m sure who ever voted in either way was doing it strictly to save their own ass, but as of right now I don’t know what those reasons are. Here’s the video The house votes no on the bail out today.
Here’s a good one too …
Sep
22
Gingrich opposes bail out
Filed Under Corporate Shitheadery, Political Shitheadery | Leave a Comment
Now I’m not a big fan, but I have to give Newt some credit. It’s not often you hear a politician come out against their own. In this case, however, it’s necessary. Every once in a while someone shows some balls and some concern for the greater good and does the job they were hired to do.
This is really something to watch.
Sep
21
Seems to me from reading this that our reward, as taxpayers, for getting screwed, is that we’re going to get, well, screwed.
I’m getting a little tired and pissed off at douche bags being bailed out and basically rewarded for being, well, douche bags.
I’d like to think that if I bilked millions of people out billions of dollars, borrowed from myself, lied to customers and corporations, that someone would quite simply take me out back and shoot me. That though is what keeps from doing those things. If, on the other hand, someone said, “Well, you made a few mistakes, here’s a check,” and patted me on the ass, I might just be tempted to do it again.
In addition, I’m partly paying to support this decission and I’d like to know what I stand to gain from this? Because if it’s nothing. I mean really nothing and that’s what it looks like I’m being asked to swallow, then I say no deal.
