Dear President Obama,

[Snoman]

Thank you for helping my neighbors with their mortgage payments. You
know the one's down the street who in the good times refinanced their
house several
times and bought SUV's, ATV's, a pool, a big screen, two Wave Runners
and a Harley.

But I was wondering, since I am paying my mortgage and theirs, could
you arrange for me to borrow the Harley now and then?

Jim
Wellington, Ohio

P.S. They also need help with their credit cards, when do you want me
to start making those payments?

P.P.S. I almost forgot - they didn't file their income tax return this
year. Should I go ahead and file for them or will you be appointing
them to cabinet posts?

:eek::eek::eek:

[Dreamcast18]

Thank you for helping my neighbors with their mortgage payments. You
know the one's down the street who in the good times refinanced their
house several
times and bought SUV's, ATV's, a pool, a big screen, two Wave Runners
and a Harley.

But I was wondering, since I am paying my mortgage and theirs, could
you arrange for me to borrow the Harley now and then?

Jim
Wellington, Ohio

P.S. They also need help with their credit cards, when do you want me
to start making those payments?

P.P.S. I almost forgot - they didn't file their income tax return this
year. Should I go ahead and file for them or will you be appointing
them to cabinet posts?

:eek::eek::eek:


totally...:mad::smflame::mad::smflame:

i know quite some people who were boasting about 0% down and interest only loans a couple years back..:smflame:

[attyedhall]

totally...:mad::smflame::mad::smflame:

i know quite some people who were boasting about 0% down and interest only loans a couple years back..:smflame:


i met some folks in florida who were buying homes with these loans on the pure speculation that they could "flip them for more $$$$ in a few months. actually worked for some of them for a while. Now they are STUCK!

[Dixie Cat]

totally...:mad::smflame::mad::smflame:

i know quite some people who were boasting about 0% down and interest only loans a couple years back..:smflame:

I do too and told them that would be referred to as renting a home and NOT the same as buying one.:roll:

[1buddyc]

I hate it when I'm wrong...

I have to admit it. My liberal friends were right. They told me if I voted for McCain, the nation's Hope would deteriorate; and sure enough there has been a 20 point drop in the Consumer Confidence Index since the election, reaching a lower point than any time during the Bush administration.

They told me if I voted for McCain, the US would become more deeply embroiled in the Middle East; and sure enough tens of thousands of additional troops are scheduled to be deployed into Afghanistan.

They told me if I voted for McCain, that the economy would get worse and sure enough unemployment is approaching 8.8% and the new stimulus packages implemented recently have sent the stock market lower than at any time since 1997.

They told me if I voted for McCain, we would see more "crooks" in high ranking positions in Federal government and sure enough, several recent cabinet nominees and Senate appointments revealed resumes of bribery and tax fraud.

Well, I ignored my Democrat friends in November and voted for McCain. And they were right... all of their predictions have come true.

[Diny]

Oh forgive the mighty obama for not fixing a decade's mess in 2 months. Get real.

And I actually tend to agree a bit with Snoman there (I know! cue the distant thunder).

I wonder what the ratio is of people who honestly got into a housing mess because of the whole shebang vs those who got greedy and started buying shit that they couldnt afford.

Plus, you can't deny that in a culture as materialistic as this one, the temptation of having more was very hard to beat. Especially when financial advisors keep telling you that you CAN have it.

As for whether this idea is bad or not, let me tell you this: You have to expect some leeches. Every single public service is victim to them. Even the most well thought out plan designed to help people will eventually be taken advantage of by leeches. I dare you to name a system that doesnt follow this rule.

[Snoman]

Oh forgive the mighty obama for not fixing a decade's mess in 2 months. Get real.

And I actually tend to agree a bit with Snoman there (I know! cue the distant thunder).

I wonder what the ratio is of people who honestly got into a housing mess because of the whole shebang vs those who got greedy and started buying shit that they couldnt afford.

Plus, you can't deny that in a culture as materialistic as this one, the temptation of having more was very hard to beat. Especially when financial advisors keep telling you that you CAN have it.

As for whether this idea is bad or not, let me tell you this: You have to expect some leeches. Every single public service is victim to them. Even the most well thought out plan designed to help people will eventually be taken advantage of by leeches. I dare you to name a system that doesnt follow this rule.


:rll::rll::rll::rll::rll::rll::rll::rll::rll::rll: :rll::rll:

[attyedhall]

interesting... what is now termed "a few leeches" was recently referred to as a "culture of corruption". And lest we not forget that the housing bubble, which according to most economists, is what started this economic downturn, was due in no small part to the policy shifts during the Clinton era that mandated banks increase the percentage of home loans in blighted areas. By actually forcing banks to compete for these "loser loans", in order to be able to sell any loans in the government controlled secondary market (Fannie Mae and Freddie Mac), the market took off, fueled by an influx of what would have ordinarily been loan rejects.

Now dont get me wrong, there is ample blame here on the republicans as well. But If i here Nobama say one more time that he inherited this mess, i might just spit up. He was in the senate for two years and did what?

No we are embarking on the largerst expansion of the government in our entire history. Hold on to your socks, jockstraps, wallets and purses..... Its gonna be rough going......BTW.... watch the dollar over the next six months......can you say NOSEDIVE?

[Diny]

interesting... what is now termed "a few leeches" was recently referred to as a "culture of corruption". And lest we not forget that the housing bubble, which according to most economists, is what started this economic downturn, was due in no small part to the policy shifts during the Clinton era that mandated banks increase the percentage of home loans in blighted areas. By actually forcing banks to compete for these "loser loans", in order to be able to sell any loans in the government controlled secondary market (Fannie Mae and Freddie Mac), the market took off, fueled by an influx of what would have ordinarily been loan rejects.

Now dont get me wrong, there is ample blame here on the republicans as well. But If i here Nobama say one more time that he inherited this mess, i might just spit up. He was in the senate for two years and did what?

No we are embarking on the largerst expansion of the government in our entire history. Hold on to your socks, jockstraps, wallets and purses..... Its gonna be rough going......BTW.... watch the dollar over the next six months......can you say NOSEDIVE?

That response doesnt seem to mention the fact that the entire collapse was the irresponsible betting by executives (30 to 1, was it?) of every dollar invested by the people. That couldve been avoided by more regulation, which I'm sure Republicans wouldve bitched about using the "bigger government" excuse.

And quit bitching about government expansion. We let the Bush administration give it to us without vaseline under the "war on terror" excuse, and no one batted an eye.


It still seems funny that some people here seem hell-bent on blaming democrats as if Republicans are angels. Everyone's got blame to share. And even if it did start with the Clinton administration, then that's even more embarassing for Bush, who did nothing to address this in 8 years. Nice going!

[kat hunter]

That response doesnt seem to mention the fact that the entire collapse was the irresponsible betting by executives (30 to 1, was it?) of every dollar invested by the people. That couldve been avoided by more regulation, which I'm sure Republicans wouldve bitched about using the "bigger government" excuse.

And quit bitching about government expansion. We let the Bush administration give it to us without vaseline under the "war on terror" excuse, and no one batted an eye.


It still seems funny that some people here seem hell-bent on blaming democrats as if Republicans are angels. Everyone's got blame to share. And even if it did start with the Clinton administration, then that's even more embarassing for Bush, who did nothing to address this in 8 years. Nice going!

Bush and the republicans did start warning about the very issue in 2003 and 2004, and was ignored by the democrats, many of who denied that there was a problem. Barney FRanks was one. Could Bush have pushed something thru between 2003 and 2006, possibly. But more than likely it would have been undone in 2006 when democrats took control of the house and senate. Bush taking action on this issue may have gained democratic control in 2004.

Also please remember that between 2006 and 2008 obama was a senator, so when is says that he inherited this problem, he can truthfully say that he inherited it from himself also. He did nothing in the senate during that time to attempt to fix the problem.

[mopardave]

I did not vote for Obama. While he had nothing to do with creating the mess as a chief executive, he was a Senator. The mess we are in was created by politicians, party affiliations aside. I don't remember there ever being a time where so many appointees "forgot" to pay their taxes. I am sure it has happened before, as well. I do blame Obama for a hand-crafted stimulus package that will do little. I do blame Obama for the latest round of AIG bonuses that "slipped" through the cracks. He has a difficult task ahead of him and I not sure that Obama or any politician will fix the mess we are in (that started during the Clinton Administration). You can point fingers at one party or the other as much as you want, but the simple fact is that the Senate and House are responsible for this regardless of what party is or was in power. I live in John Murtha's District and he is without a doubt the King of Pork and I benefit from it, but that does not make it right. All the current incumbents should be booted out and a whole new crop brought in.....they sure couldn't do any worse!

[Diny]

Bush and the republicans did start warning about the very issue in 2003 and 2004, and was ignored by the democrats, many of who denied that there was a problem. Barney FRanks was one. Could Bush have pushed something thru between 2003 and 2006, possibly. But more than likely it would have been undone in 2006 when democrats took control of the house and senate. Bush taking action on this issue may have gained democratic control in 2004.

Also please remember that between 2006 and 2008 obama was a senator, so when is says that he inherited this problem, he can truthfully say that he inherited it from himself also. He did nothing in the senate during that time to attempt to fix the problem.

Fair points, but 2 (or 3 ) years is plenty of time to work something out, wouldnt you say? I mean, if they started warning about it in 2003 and the democrats took control in 2006, there's a nice gap in there to work something into.

To be fair, as well, some people have also been warning about this bubble as early as 2001. But hey, hindsight is always 20/20 and I wouldnt be surprised if these people were seen as pesimistic back then.

[NDPENDANT]

Oh forgive the mighty obama for not fixing a decade's mess in 2 months. Get real.

And I actually tend to agree a bit with Snoman there (I know! cue the distant thunder).

I wonder what the ratio is of people who honestly got into a housing mess because of the whole shebang vs those who got greedy and started buying shit that they couldnt afford.

Plus, you can't deny that in a culture as materialistic as this one, the temptation of having more was very hard to beat. Especially when financial advisors keep telling you that you CAN have it.

As for whether this idea is bad or not, let me tell you this: You have to expect some leeches. Every single public service is victim to them. Even the most well thought out plan designed to help people will eventually be taken advantage of by leeches. I dare you to name a system that doesnt follow this rule.

its not the fact that he hasnt fixed it in 2 months. no one could. the problem is that he is making it much worse and people complained so so loudly that the last administration took away rights. well, this administration has taken away liberties, taxes, monies, property and redistribution, as well as making new laws that will, in the next several months, be found wholly unconstitutional. Aside from that, the exact number of people you asked about is 4%. This whole F$(5rKNG mess was brought about by 4% of mortgages that are considered "toxic". As far as the redistribution of wealth thing, i think we should rename that. I will now call it the "equal distribution of poverty"
nd.

[Snoman]

"equal distribution of poverty"



Paul I hope you are wrong,,, but it don't look good right now :eek:

[Kruisin Kat]

I hear that Treasury Sec. said he wouldn't rule out going to one world currency because of China and Europe's concerns with the US dollar is going to be worthless because of the US budget and spending plans.