Comments on: Bailout Efforts Shift To Consumer Debt http://blownmortgage.com/2008/11/13/bailout-efforts-shift-to-consumer-debt/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sun, 08 Nov 2009 16:51:22 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: mad and angry http://blownmortgage.com/2008/11/13/bailout-efforts-shift-to-consumer-debt/comment-page-1/#comment-71415 mad and angry Sun, 16 Nov 2008 02:51:16 +0000 http://blownmortgage.com/?p=1668#comment-71415 This obsession by our leaders to keep homeowners in their home will mark the end of whatever is left in this country resembling prudence and morality. I support saving all homeowners not just the irresponsible 3 million living in Mcmansions.<br><br>Congress and Sheila Bair's obsession with this spend-only bailout rewards the reckless and punishes the prudent. Consider the lesson it imparts to promote bailouts to the reckless. City by city, neighborhood by neighborhood, people who live beneath their means and manage money carefully will see more careless neighbors supported by federal decree. And what about the 30 percent of this nation who were smart enough to rent? Or how about the large percentage of us who gave plenty of warnings to these same people the government now wants to redistribute my taxes to so they can stay in a house twice the size the home I live in. The backlash to the 700 B bailout package was not only because of the bailout of wall street but also the bailout of the reckless homeowners and their relentless ATM / HELOC spending. As it is now these people can live in their home for over a year rent free while they find a home they should have been living in from the start.<br><br>We are becoming a nation of people who feel it is not only okay but justified to cheat, lie, and swindle each other and the rest of the population. Personal responsibility is discouraged by the government and the mainstream media. Our nation is eating ourselves from within just to keep a facade of prosperity. Hope is being replaced by anger and desperation. Welcome to the new dawn. This obsession by our leaders to keep homeowners in their home will mark the end of whatever is left in this country resembling prudence and morality. I support saving all homeowners not just the irresponsible 3 million living in Mcmansions.

Congress and Sheila Bair's obsession with this spend-only bailout rewards the reckless and punishes the prudent. Consider the lesson it imparts to promote bailouts to the reckless. City by city, neighborhood by neighborhood, people who live beneath their means and manage money carefully will see more careless neighbors supported by federal decree. And what about the 30 percent of this nation who were smart enough to rent? Or how about the large percentage of us who gave plenty of warnings to these same people the government now wants to redistribute my taxes to so they can stay in a house twice the size the home I live in. The backlash to the 700 B bailout package was not only because of the bailout of wall street but also the bailout of the reckless homeowners and their relentless ATM / HELOC spending. As it is now these people can live in their home for over a year rent free while they find a home they should have been living in from the start.

We are becoming a nation of people who feel it is not only okay but justified to cheat, lie, and swindle each other and the rest of the population. Personal responsibility is discouraged by the government and the mainstream media. Our nation is eating ourselves from within just to keep a facade of prosperity. Hope is being replaced by anger and desperation. Welcome to the new dawn.

]]> By: mad and angry http://blownmortgage.com/2008/11/13/bailout-efforts-shift-to-consumer-debt/comment-page-1/#comment-12401 mad and angry Sun, 16 Nov 2008 01:51:16 +0000 http://blownmortgage.com/?p=1668#comment-12401 This obsession by our leaders to keep homeowners in their home will mark the end of whatever is left in this country resembling prudence and morality. I support saving all homeowners not just the irresponsible 3 million living in Mcmansions.<br><br>Congress and Sheila Bair's obsession with this spend-only bailout rewards the reckless and punishes the prudent. Consider the lesson it imparts to promote bailouts to the reckless. City by city, neighborhood by neighborhood, people who live beneath their means and manage money carefully will see more careless neighbors supported by federal decree. And what about the 30 percent of this nation who were smart enough to rent? Or how about the large percentage of us who gave plenty of warnings to these same people the government now wants to redistribute my taxes to so they can stay in a house twice the size the home I live in. The backlash to the 700 B bailout package was not only because of the bailout of wall street but also the bailout of the reckless homeowners and their relentless ATM / HELOC spending. As it is now these people can live in their home for over a year rent free while they find a home they should have been living in from the start.<br><br>We are becoming a nation of people who feel it is not only okay but justified to cheat, lie, and swindle each other and the rest of the population. Personal responsibility is discouraged by the government and the mainstream media. Our nation is eating ourselves from within just to keep a facade of prosperity. Hope is being replaced by anger and desperation. Welcome to the new dawn. This obsession by our leaders to keep homeowners in their home will mark the end of whatever is left in this country resembling prudence and morality. I support saving all homeowners not just the irresponsible 3 million living in Mcmansions.

Congress and Sheila Bair's obsession with this spend-only bailout rewards the reckless and punishes the prudent. Consider the lesson it imparts to promote bailouts to the reckless. City by city, neighborhood by neighborhood, people who live beneath their means and manage money carefully will see more careless neighbors supported by federal decree. And what about the 30 percent of this nation who were smart enough to rent? Or how about the large percentage of us who gave plenty of warnings to these same people the government now wants to redistribute my taxes to so they can stay in a house twice the size the home I live in. The backlash to the 700 B bailout package was not only because of the bailout of wall street but also the bailout of the reckless homeowners and their relentless ATM / HELOC spending. As it is now these people can live in their home for over a year rent free while they find a home they should have been living in from the start.

We are becoming a nation of people who feel it is not only okay but justified to cheat, lie, and swindle each other and the rest of the population. Personal responsibility is discouraged by the government and the mainstream media. Our nation is eating ourselves from within just to keep a facade of prosperity. Hope is being replaced by anger and desperation. Welcome to the new dawn.

]]> By: CRay http://blownmortgage.com/2008/11/13/bailout-efforts-shift-to-consumer-debt/comment-page-1/#comment-12400 CRay Sat, 15 Nov 2008 06:57:24 +0000 http://blownmortgage.com/?p=1668#comment-12400 >>>There's plenty of credit available at rock-bottom rates<<< <br>>>> Stop the bailouts! Let the chips fall where they may<<<<br><br>Bingo..! .. two excellent points ... <br><br>The Fort Lauderdale International Boat Show (the largest in the world) just ran from Oct 29-Nov 2, 2009 and more than 130,000 consumers attended.<br><br>There was plenty of credit available for the $20,000 boat buyer or the $2 million boat buyer .. obviously good credit was in play - as it should be.<br><br>- >>>There's plenty of credit available at rock-bottom rates<<<
>>> Stop the bailouts! Let the chips fall where they may<<<

Bingo..! .. two excellent points …

The Fort Lauderdale International Boat Show (the largest in the world) just ran from Oct 29-Nov 2, 2009 and more than 130,000 consumers attended.

There was plenty of credit available for the $20,000 boat buyer or the $2 million boat buyer .. obviously good credit was in play – as it should be.

-

]]> By: Fielding Mellish http://blownmortgage.com/2008/11/13/bailout-efforts-shift-to-consumer-debt/comment-page-1/#comment-12399 Fielding Mellish Thu, 13 Nov 2008 20:59:10 +0000 http://blownmortgage.com/?p=1668#comment-12399 What idiocy. Credit cards are supposed to be unsecured. Hank Paulson is proving to be a complete moron when it comes to the current crisis. Stop the bailouts! Let the chips fall where they may. I know a hedge fund manager who's getting a $3 million loan from a major bank to buy a second home in Palm Springs and his rate is prime minus 1%. There's plenty of credit available at rock-bottom rates when a bank can deem themselves 100% secure from default. Banks will make safe loans. We can't expect banks or credit card companies to make (more) bad loans, though. What idiocy. Credit cards are supposed to be unsecured. Hank Paulson is proving to be a complete moron when it comes to the current crisis. Stop the bailouts! Let the chips fall where they may. I know a hedge fund manager who's getting a $3 million loan from a major bank to buy a second home in Palm Springs and his rate is prime minus 1%. There's plenty of credit available at rock-bottom rates when a bank can deem themselves 100% secure from default. Banks will make safe loans. We can't expect banks or credit card companies to make (more) bad loans, though.

]]>