Posted on 02/20/2010 7:53:25 PM PST by Talkradio03
Bug Out Location
Right. And the business was in trouble because his brother sued him.
This looks more like Cain and Able than anything to do with banks.
I remember reading about another guy that did the same thing for a different reason...Owned a house, got married and when it came to the divorce, she got the house, he went to jail after the demolition and said it was worth it...I’ll bet a lot of people can relate to that...
Sometimes when the odds are so extreme and your back is against the wall and basically there is no hope whatsoever of being victorious the alternative is usually to deny your victor the fruits of your labors.
To work most of your life only to have something come along that you cannot fight wants to take it away its no wonder people are going on the rampage.
And again its the IRS that is involved, I’m beginning to think a whole heck of a lot of Americans are fed up, just about anything is going to be the spark in the powder room.
And the back room deals with passing the Obamacare especially with her Lordship Pelosi getting orgasmic that no mere mortal can deny her ambitious goals, well its times like this I am glad I live in a remote part of the landscape.
Did you actually read the story or watch the video?? He wasn’t behind on payments. They foreclosed because they were afraid the IRS was going to take it.
The moral side of lending certainly does start with the bank. Its their money and they are responsible for it.
However instead of applying morals or sound business practices they lobby for govt protection. They make poor decisions and refuse to accept the risk. They are more than happy to take the reward though.
No we are not. We only "rent" you the money, we don't loan it and we don't give it; it belongs to our stockholders and our clients.
Suggestion: Don't borrow the money in the first place and you will never have to worry about "friends" in the banking community.
Suggestion, stop lying, stop bribing, stop using Congress to give yourself special protections, stop taking advantage of people.
The holier than thou attitude of bankers is laughable while as a group the corruption will get you all hung.
You need to speak with Barney Frank, Chris Dodd and other Congress people who created the whole mess.
The federal government was created by the states to facilitate foreign and domestic trade (one of the truly legitimate arguments for its propagation of the War Between the States)...to the betterment of citizens of the various states. It does not have a mandate to force the American taxpayers and bond holders to assume the consequences of market risks that a small minority of the population creates or benefits from-including risks associated with home mortgages, much less banking derivatives.
The federal government, in denying its original writ and mandate, is itself rapidly calling into question its utility to American citizens and states.
Take you infantile “talk to the hand” and graduate to middle school.
Sure Congress facilitated the mess. Bankers were lobbying for it. Bankers were giving loans to people they KNEW could not afford them. Bankers were then reselling the loans which was the real motivation for the loan.
People buying the loans insured them (hence AIG) and sophisticated people then bought the govt rated A+ loans.
Many big bank and financial industry experts are extremely liberal.
I would’ve done the same thing. The way I see it the guy found someone willing to pay the remaining amount he owed which was $170,000 out of the $350,000 the home is worth and then the bank says we are going to take it anyway? Hell no. Banks and the government do this kind of thing all the time.
I’ve seen local governments take a persons home in a lucrative area when they fall on hard times. In one case a guy owed $10,000 in property taxes on Fire Island in NY. They took his home and resold it for $600,000 and he never got a penny. That is robbery and if the government or a bank every tried something like that they’d be lucky if I just bulldozed the home.
I agree...Bailout is absurd.
Good point.
Who got themselves into ‘borrowing’ in the first place?
This guy sure liked the way ‘banking’ and “lending” worked when he was rolling high..now he is a tantrum throwing 2 yr old. “that’s not FAIR”.
Pay your obligations.Pay your taxes.Change the laws if you want to.End of story.
Property taxes owed?
then change the laws if you don’t like it...600K home and he didn’t pay property taxes? This one doesn’t smell right.
His wife had terminal cancer and he finally did get the money together but they took his home anyway. There is a thing called common decency and that is something that is lacking in Washington and the Corporate world.
It is only the bank’s money until they loan it to a person.
Whatever happened to personal responsibility and honor? it knows you can’t repay. Is it the bank’s fault that you chose to take the money. Hell no! I took you at your word that someway, somehow you would find a way to repay the loan, which is the honorable thing to do. You chose to take the loan and you chose not to repay it. Therefore default of the loan would be completely your fault and absolutely no fault of the bank.
Remember, banks give risky loans to businesses all the time. This isn’t any different than betting on the stock market. If the business fails, it isn’t the bank’s fault. If the stock market falls, it isn’t the bank’s fault. So why would it be the bank’s fault if a homeowner fails to repay a loan? The bank has a right to make any investment because it is initial their money, but it is still the responsibility of the loanee to repay the loan or just don’t take the loan if they can’t repay it.
Apparently those people that villianize the banks and defend the loanee have no sense of personal responsibility and honor anymore. To take money that you know you can’t repay and/or have no intention of repaying is called stealing!
I went to School with this guy it would have taken a hell of alot of push to get him to do this he was always smart a heck of alot smarter than most i went to school with and he didn’t take much crap off anyone ......
Good luck Terry you still got Class
Why would he be in jail? It WAS his house. Does one not have the right to destroy one’s own property? Of course, to the extent it was collateral for a loan, that loan agreement is violated, but that would seenm to be a CIVIL, not a criminal, issue.
Ah to live in such a simple world.
You probably also blame the Russian people for Stalins murders.
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