Posted on 02/19/2009 8:37:47 AM PST by kcvl
Per Drudge:
http://www.cnbc.com/id/15840232?video=1039849853
LOL - That wouldn’t surprise me one bit, really!
Note to Rick— stay off airplanes, if not for your own safety think of your fellow passengers
There isn’t enough money in the world to stabalize this housing market. You can lower these peoples rates to ZERO percent and they STILL couldn’t pay these mortgages. They are going to have to be foreclosed upon, and the banks whose balance sheets are wrecked are going to have to go under. Until the players all face the pain from their decisions the markets won’t recover, because no one knows who to trust. The banks don’t trust consumers or eachother and vice versa because everyone knows the bad actors are still in play. Once they have been eliminated and only people/businesses with good balance sheets are left, people will start to do business with one another again.
It’s the lack of confidence that is killing the economy and that isn’t going to go away.
Thanks. I would enjoy the face-to-face too, and if I ever make it to Texas again, I’ll look you up. I was no debater but I do have degrees in journalism and law. In a former, pre-kid life, I was assistant general counsel for a private university. I respect your points of view and I think we can make a difference, each in their own sphere of influence. I write a column for the local newspaper and I can choose to write on topics which buck up American values. I can also write letters to other publications although they might not be published as I am surrounded by liberals here in Schwarzeneggar Land. I am also a Boy Scout Badge Counselor for four badges and I can individually tutor scouts on citizenship and the Constitution. I help moderate townhall meetings for politicians (actually I am considered by the newspaper as the “token” conservative for the panel ;o)). We can each do our little bit.
“There isn’t enough money in the world to stabalize this housing market. You can lower these peoples rates to ZERO percent and they STILL couldn’t pay these mortgages. They are going to have to be foreclosed upon, and the banks whose balance sheets are wrecked are going to have to go under. Until the players all face the pain from their decisions the markets won’t recover, because no one knows who to trust. The banks don’t trust consumers or eachother and vice versa because everyone knows the bad actors are still in play. Once they have been eliminated and only people/businesses with good balance sheets are left, people will start to do business with one another again.
It’s the lack of confidence that is killing the economy and that isn’t going to go away.”
That is the exact argument that needs to be passed to the upper echelons of the Republican party asap. If that can’t be done and it cannot get out on a national scale, then this housing subsidy battle will be lost.
Or to put it more simply. What happens when you make the adjustments and 6 months later they still can’t pay? Because that’s precisely what’s going to happen.
Guess again Tex, the billionaires like Maurice Strong in Canada and Ted Turner have bought up all the land over aquifers. They are going to, if not already, start pumping it like oil and selling it back to us and globally. Obama is a globalist puppet
Might be FRONT door!
How much of the recent steps were planned and how much resulted from plain stupidity which someone else saw as an opportunity, I can’t say. (I really have trouble crediting Schumer with that kind of discipline and power.) Soros and other communists are capable of long-term planning. My point is that we as a nation have been sleeping on the job, allowing our natural defenses of nobility, freedom and courage to atrophy to the point that a cabal can destroy it.
I paid off my home load with Suntrust Mortgage in November, 2008. I just called them and asked if they could reopen the loan, send me a check for $50,000 and then I could default on the payments so the gubment could “help me out”.
The customer service rep asked if he could put me on hold while he checked. I said ok. About three minutes later he came back and said no can do. I said “well I guess I screwed up being responsible, making those mega payments and paying off the loan”.
Liesman just said on CNBC, while tossing tea bags, that they’re gonna do something in July along the tea party lines!
The Secret Service regularly reads FR and DU. Petronski is right. Btw, DU calls their guy “Agent Mike”. He’s been banned but always gets back on. And DUers regularly complain about getting pinged by the DoD as soon as they sign on.
You just asked the $64,000.00 question.
They started this war:
http://hotair.com/archives/2009/02/19/hope-and-change-police-pull-over-man-for-anti-obama-sign/
Hope and Change: Police pull over man for anti-Obama sign
““I think you will find that more than 95% of people that didn’t buy more house than they can afford don’t want to subsidize some other idiots mistake when they still gotta make their OWN house payment. I bet a very high percentage of concious homeowners vote too.”
Be sure to keep the counter argument in mind because it is a very good argument. It has to be addressed and discredited on a national scale by a prominent Republican.
By stabilizing foreclosures, housing prices and the housing market in general stabilizes. This leads to toxic assets held on Wall Street and banks all over the country becoming less toxic. This improves balance sheets and leads to a credit UNfreeze and money moving again. Improved credit = an improved economy. That is the argument. Is it right? I have absolutely no idea. I just know it is the argument.
So I say for the national Republicans to drop the “I paid my mortgage now you pay yours” line and address the REAL political game being played.
If we can’t counter the argument above, we lose.”
One item the Republicans need to focus on is that for the homeowner bailout, the homeowner apparently gets to keep any future upside when home values go up. That is wrong and is NOT consistent with the adminstration cracking down on executive salaries at banks that receive federal money.
Any future upside should not be realized by the owner until the government has been paid back. Seems to me to be pretty obvious provision. Wonder why it wasn’t included?
“we could all print out the stimulus bill,”
I don’t have that much printer paper! LOL
That one is great!
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