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Property Rights Take a Hit (Peter Schiff on Obama's most recent assault)
Europac.net ^
| 06/12/2009
| Peter Schiff
Posted on 06/12/2009 3:05:02 PM PDT by Painesright
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To: Atom Smasher
Interest rates will rise to compensate the lender for the new risk of secured asset “conversion.” The higher the risk, the higher the interest rate....
21
posted on
06/12/2009 11:42:10 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: Atom Smasher
When you borrow money from the bank to buy a car, the bank takes a lien on the car. If you don't make your loan payments, the repo man (or woman) comes and takes your car on behalf of the bank. The bank then sells the car and pays off the loan. Any money left over is turned over to you. Been that way for 100 years.
Now... you borrow money to buy a car. You don't make the payments. Obama comes and takes your car and gives it to a food pantry for them to sell for cash. The bank is out the money you borrowed. You are out the car and the community action group gets free money...
22
posted on
06/12/2009 11:45:59 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: April Lexington
***Now... you borrow money to buy a car. You don’t make the payments. Obama comes and takes your car and gives it to a food pantry for them to sell for cash. The bank is out the money you borrowed. You are out the car and the community action group gets free money...***
Actually I think after your car is taken, the government then purchases a hybrid for you as long as you’re not in the top 5% of income earners.
23
posted on
06/13/2009 1:09:24 AM PDT
by
djsherin
(Government is essentially the negation of liberty.)
To: April Lexington
BS, there is something called a bankruptcy schedule of repayment.
24
posted on
06/13/2009 6:51:24 AM PDT
by
org.whodat
("Way past time for new commodities regulation")
To: djsherin
Contracts and property rights are essential for capitalism and a free society. Absolutely correct. The Obama posse intends to eliminate these rights on their way to constructing a socialist dictatorship.
25
posted on
06/13/2009 7:05:15 AM PDT
by
Max in Utah
(A nation can survive its fools, and even the ambitious. But it cannot survive treason from within.)
To: org.whodat
BS, there is something called a bankruptcy schedule of repayment. Not anymore! Read the case. The trustee can position the case as he/she sees fit. The BYK court will follow and if the appeals process results in the Fed dist/appeals/SCOTUS failing to recognize the legality of a secured interest, the lender is screwed. This is a paradigm shift that is causing serious concern among asset based lenders (a least the smart ones).
26
posted on
06/13/2009 8:16:26 AM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: April Lexington
27
posted on
06/13/2009 6:03:57 PM PDT
by
org.whodat
("Way past time for new commodities regulation")
To: org.whodat
Please explain why I’m wrong. Thanks.
28
posted on
06/13/2009 10:37:41 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
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