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Jan
Why do Bush and the Democrats want me to pay more taxes for deadbeat borrowers?
Author: admin // Category: subprime mortgagePhil Gramm (Mccains’ economic advisor) wrote the law, and Clinton signed it….requiring subprime mortgage opportunities for dead beat losers that could not repay them. Now Bush, Obama and McCain are pushing for a "bail out" for those companies that were required to make the stupid loans. Now I have never missed a mortgage payment, never had to get a "sub prime" loan, but will have to pay more taxes for those who did? How is that fair in this society of ours?
It’s not fair. I’m apposed to this bailout.
January 22nd, 2013 at 6:01 am
The 700 Billion Bail Out is an unnecessary act, the financial analog of the patriot act.
Deregulation is directly responsible for this crisis. Giving $700 Billion to the same miscreants who got us into this mess and managed by the same administration that gave billions to Oil, wrote a “no negotiation” clause in Medicare Part D can not be a good idea.
And, Holy Smokes, look at the language in the proposed act:
“ Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
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January 22nd, 2013 at 6:32 am
Well, whoever said life was fair junior? The bailout sucks plain and simple, but we don’t have a choice. Failing to act doesn’t just stick it to the people who can’t afford their mortgages or the banks it will bring down the entire house of cards. Will inflation, a tumbling stock market, and massive unemployment affect you? If so you should be for the bailout.
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January 22nd, 2013 at 6:49 am
It’s not fair. I’m apposed to this bailout.
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January 22nd, 2013 at 7:24 am
Just wait until you start paying their health insurance premiums. Bend over and relax.
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January 22nd, 2013 at 8:05 am
Put down the kool aid. The masters of the universe were the ones that overleveraged themselves. Word of the day, leverage. Look it up and maybe then you can make an informed decision. Or you can go on parroting FIXnews.
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January 22nd, 2013 at 8:31 am
Bush is borrowing the money from Foreigners. Just like he "borrowed" money for the Iraq War. You will only pay Interest on that Debt, unless you live a very long time. If you are lucky enough to have grand kids they will have to pay it off.
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January 22nd, 2013 at 9:05 am
They don’t. They want you to pay more taxes for the BANKERS who got greedy and screwed up. The borrowers will get absolutely zero dollars under Bush’s plan.
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January 22nd, 2013 at 9:31 am
Clinton wanted an end to redlining, a practice that discriminated against minority buyers in marginal areas of cities.
Instead we got sub prime mortgages on Mc Mansions, clearly not what it was intended to do.
No one wanted no proveable income, or to put buyers into homes they couldn’t afford, just to write mortgages on affordable homes for minorities. That’s all.
Obama wasn’t in on this at all twelve years ago.
McCain was.
You aren’t paying their mortgage, you are paying for the executives greed. The people will still lose their homes, unless we can limit their interest rates from going up. Remember, they have been paying on their homes for all this time, now when the teaser rates are up, their mortgage can double. Want a simple way out that doesn’t cost as much, make it a law that the interest can’t go up. The banks won’t make as much money, but we won’t have to pay either.
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January 22nd, 2013 at 9:56 am
it is not. but we the tax payers are again called upon to do our patriotic duty and bail out the less fortunate, this time in our own backyard.
while the politicians that we elect make sweetheart deals and squander our hard earned money, we really need someone to look out for us from government and i am afraid we will not get it again in this election.
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January 22nd, 2013 at 10:10 am
Because if we don’t the whole economy of the country and most of the world is going to completely tank.
You’re eventually also going to have to pay for the war too, or you kids will…hopefully that will just be in higher taxes and not another attack.
It is not only "deadbeat losers" who are in trouble here. There are hardworking people who had steady jobs who have lost them, it is people who could afford their home until gas shot up to $4.00 a gallon and milk to $3.00
And there are some people, I’m sure they are not as good as you because clearly everyone who has ever need help is a deadbeat, who got this opportunity and made good on it.
By the way, for Clinton to sign it, it had to hit his desk, which means there are some republican hands on it…I can assure you this was not to help anyone realize the dream of owning the home…it was so that the businesses could make more money signing people that should not have been signed and as professionals they knew it!
I’m sure the world would be a better place if we were all like you.
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January 22nd, 2013 at 10:54 am
I am of the opinion of not bailing them out. Let the pieces fall where they may. But giving good money to a bad cause run by incompetence is not my idea of a sound move.
Let those mortgage companies fall. Besides, it would help the economy in the long run while everything slows down for readjustment.
Just tighten your belts an extra notch. Cut useless spending and reeaxmine your spending habits.
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