This entry was posted on Friday, August 29th, 2008 at 11:13 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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August 29, 2008
ABC Extreme Home Makeover Story:
http://www.youtube.com/watch?v=Iy-VmKf6Fbo
The media is screaming about the subprime home mortgage crisis and people demanded action. Instead of allowing our free market to make adjustments, it is the wish of many that government should solve all problems. The government actually caused this problem and now they are going to “solve” it? This issue goes all the way back to the Community Reinvestment Act of 1977 which Jimmy Carter was responsible for. This Act was supposed to change the whole lending process and make it more diverse. Lenders were obviously not making loans to people based on their race, not because of their ability to pay. So the government forced them to make loans which should have never been made or face stiff penalties. Now you have this subprime problem with foreclosures everywhere of people who were irresponsible in the first place. Sum it up=if you did things the right way and saved for a home, financed it responsibly, and paid your taxes already, you get to bail out the stupidity of others. If they got a bad loan, it is your job to bail them out. Another failed policy that the government caused and it will once again be on the backs of taxpayers. Chris Dodd, the imcompetent senator that came up with this bill, is such a hypocrite because he received favorable treatment from Countrywide, the lending institution that Barack Obama would blast on an almost daily basis. That is, until some of his friends were found to be involved with them and now keeps his mouth shut about it.
http://newsbusters.org/people/chris-dodd
http://tsfiles.wordpress.com/2008/03/17/the-cause-of-the-subprime-mortgage-collapse/
Duration : 0:9:55
read comments (19)
August 29th, 2008 at 11:13 pm
Our country is all …
Our country is all screwed up. The U.S. is a fascist or socialist country now. The government bails out failing businesses and failing people. No wonder all the businesses are moving overseas.
August 29th, 2008 at 11:13 pm
think again …
think again fucktard, it’s the republicans who want you to think they solve all the problems, liberal literally means less governance, giving people the ability to choose their path, something you have lacked in the united states for a very long time
August 29th, 2008 at 11:13 pm
You have that …
You have that mentality that believes providing rich with more money helps provide jobs or some crap. the “free market” will always see these results. the separation of classes. all jobs going overseas. i bust my for 30,000 a year and im every bit as intelligent and charming as you. You aren’t a laborer obviously. Oh and i love the “big government” shit. Yeah that giant milatary isn’t over half our national budget. you are a fool . believe what you want.
August 29th, 2008 at 11:13 pm
Excellent points …
Excellent points truthforamerica. Republicans are giving in to the Democrats. We’re doomed to big government!
August 29th, 2008 at 11:14 pm
Thanks Lonnie. It …
Thanks Lonnie. It is sad that most Democrats want to blame the Bush administration for this supposed housing crisis when big government (which is what they want more of) caused this in the first place.
August 29th, 2008 at 11:14 pm
Bravo! It’s all …
Bravo! It’s all about personal responsibility! The government is all about promoting irresponsibility!
August 29th, 2008 at 11:14 pm
Well do what did, …
Well do what did, move!
August 29th, 2008 at 11:14 pm
Wow, I think you’re …
Wow, I think you’re a prick. Where are you from? What part of the world do you live in?
Because I live in the appalachian region where people work 40 hour weeks but we all make less than 20,000 a year.
You’re a real jerk. I mean, if you don’t mind me saying.
August 29th, 2008 at 11:14 pm
WOW! This is a …
WOW! This is a great video. Our nation is deteriorating because we are no longer promoting personal responsibility and discipline. We don’t a bail-out. We need to invest in a basic finance curriculum for the high school students, college students, and general public. We have to learn the importance of working hard, budgeting our money, and maintaining a positive credit status. We have a long way to go. I don’t want to pay for the bad financial choices of irresponsible people.
August 29th, 2008 at 11:14 pm
PREACH!!!!!!!!!!!!!!
PREACH!!!!!!!!!!!!!!
August 29th, 2008 at 11:14 pm
First off. Congress …
First off. Congress is the reason why this has happened. They pushed the mortage companies to give loans to people who could not afford them that were being turned down. Then you have those that were buying homes to resale them at a profit. Thats right, they are called speculators. Great video Marvin. Keep putting the truth out.
August 29th, 2008 at 11:14 pm
All you need is a …
All you need is a good Rush Limbaugh radio voice and you’ll be set!
August 29th, 2008 at 11:14 pm
The Liberals?
What …
The Liberals?
What the 4ck?
Hello… idiot… This bailout isn’t for the homeowners! It’s for the Wallstreeters and Banksters.
August 29th, 2008 at 11:14 pm
AMEN!!!!!!!!!!!
5/5
AMEN!!!!!!!!!!!
5/5
August 29th, 2008 at 11:14 pm
Great Video Melvin!
Great Video Melvin!
August 29th, 2008 at 11:14 pm
It’s nauseating. …
It’s nauseating. One of the best videos I’ve seen. We need more people to feel nauseated in order to turn this country around. If we weren’t working so hard to pay for these negligent leeches, we’d have more time to fight this national decline. It’s so frustrating. I want to know which Republicans voted for this piece of bill!
August 29th, 2008 at 11:14 pm
Yeah thanks for the …
Yeah thanks for the information Melvin. That mini mantion deal, just shows you how illresponcable people can be.
August 29th, 2008 at 11:14 pm
Vodka comrades?
Vodka comrades?
August 29th, 2008 at 11:14 pm
Great Video!!
…
Great Video!!
Five Stars!!