Why not make the REAL culprits fund the bailouts?

[Hereford]

So how come the taxpayers are being forced to fund these failing companies that got nailed by the mortgage 'crisis'?

How come the people who caused this mess, the people who got into home loans when they had no business taking out loans like that, aren't taking the fall?

If you went and got a loan that you couldn't pay back, then YOU should fail. YOU should be forced to pay that $$$ back, and be prevented from taking another loan out until you do.

The way I see it, once again the American Taxpayer is being forced to remedy the utter fuuckups of those who can't keep their $hit straight.

To all those who are foreclosed upon: Most of you bought houses with the intent of flipping them in the red-hot market and making a ton of cash. You got caught, and instead of taking responsibility you chose to just walk away.

If you are a taxpayer covering for these dopes y'all should be outraged.

[Hugo Chavez]

liberals did it

[tonymctones]

I am outraged...utterly fuking ridiculous shit is horrible and like i said the bail out of freddie and fannie just opened the door to other company bail outs I said this far before all the other shit companies got bailed out as well...Mark my words the motor companies are next maybe not right around the corner but they will get bailed out.

[240 is Back]

yeah - if you took a loan, and you failed on it, you're totally to blame.

the reason people (rightfully) balme bush is that he's elected to protect idiots from ruining themselves, their credit, and our economy when millions of them do it.

When a parent gives a 14-year old kid a credit card and tells them to have fun at the mall, but spend responsibly... then the kid spends $4000 on dumb shit... yes, teh parent is partially to blame for giving that simpleton that much rope to hang himself with.

Think about it.  There are people out there would would - seriously - spend $100,000 if VISA gave them that much on the credit card limit.  If VISA gave everyone a 100k limit, part of the blame (when dickheads didn't pay) would fall on VISA for giving an infant a switchblade to play with.

[Hereford]

liberals did it

Ya, even though I disagree with this statement, at least we're finally getting something margionally intelligent from the Getbig resident American-hating liberal..

 

[24KT]

So how come the taxpayers are being forced to fund these failing companies that got nailed by the mortgage 'crisis'?

How come the people who caused this mess, the people who got into home loans when they had no business taking out loans like that, aren't taking the fall?

If you went and got a loan that you couldn't pay back, then YOU should fail. YOU should be forced to pay that $$$ back, and be prevented from taking another loan out until you do.

The way I see it, once again the American Taxpayer is being forced to remedy the utter fuuckups of those who can't keep their $hit straight.

To all those who are foreclosed upon: Most of you bought houses with the intent of flipping them in the red-hot market and making a ton of cash. You got caught, and instead of taking responsibility you chose to just walk away.

If you are a taxpayer covering for these dopes y'all should be outraged.

Oh ya, that makes real sense...NOT!

How are you going to force someone to pay something they are incapable of paying?

I think by the time your home goes into foreclosure, your credit is pretty much shot.

As for those who "couldn't keep their shit straight", ...it's not ALL consumers.

We have to lay blame squarely at the feet of those who created this scenario to begin with. the bubble didn't occur by itself, and it wasn't simply homeowners who brought this all onto themselves. There were many players who contributed to this, including crappy policies from on high, ...predatory loan practices, and mismanagement of the economy. Speculators seeking to flip properties were just squirrels trying to catch a nut in pursuit of the American dream. They were just tiny little cogs in the overall machine, but they can't make the machine go all by themselves. There are other players just as culpable.

[Hereford]

Jags,

Nobody forced these people to take out these loans. Hell, I personally know of people who make 36k/yr and went out and bought 360k houses on 5k down.

PERSONAL RESPONSIBILITY. You know if you are going to be able to realistically afford that house and associated costs.

The majority of people who are in foreclosure bought the houses on adjustible rate mortgages that termsd out and rates went way up. One of my friends is in a situation where the rate went from 6.something % to almost 13% (his words). He has NO equity in the property, and no other life equity, so he can't refinance anything. He is stuck.

There were a bunch of people who took out 'interest-only' loans. What does that tell you about their intentions?

[headhuntersix]

240 how is this Bush's fault. U gotta really get the facts, and get beyond the popular media bullshit. Clinton and his idiots started this by pushing banks to give loans to minorities and other's who had no real hope of paying. The banks knew that this was bad business but everybody wanted to be on board the Clinton boom. Bush didn't stop it, maybe thats ur point. But then the Libs would have been crying racism. People are not entitled to home ownership. This is self inflicted...both on the idiots buying the homes and the lenders.

[240 is Back]

This is self inflicted...both on the idiots buying the homes and the lenders.

AND on the part of the President, who let his govt promise to protect those banks and insure their holdings with the word of the US govt.

If a bank is "too big to fail", then it's too big to exist.  break that shit up into smaller pieces which don't threaten the economy if they condust stupid business practices (lending like they did).

[Rimbaud]

Oh ya, that makes real sense...NOT!

How are you going to force someone to pay something they are incapable of paying?

I think by the time your home goes into foreclosure, your credit is pretty much shot.

As for those who "couldn't keep their shit straight", ...it's not ALL consumers.

We have to lay blame squarely at the feet of those who created this scenario to begin with. the bubble didn't occur by itself, and it wasn't simply homeowners who brought this all onto themselves. There were many players who contributed to this, including crappy policies from on high, ...predatory loan practices, and mismanagement of the economy. Speculators seeking to flip properties were just squirrels trying to catch a nut in pursuit of the American dream. They were just tiny little cogs in the overall machine, but they can't make the machine go all by themselves. There are other players just as culpable.

Sort of like when the cable company threatens 250K in fines for stealing cable?