Posted on 09/15/2008 9:44:53 AM PDT by pabianice
there are FReepers here too applauding cleaning house and tightening credit
this housing boom, bubble bust is sure far reaching
beware of bundles
These people are among Obama’s most ardent supporters. With every keystroke they demonstrate the disaster that would be an Obama presidency.
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Yes, feel the love FOR AMERICA!!! Communist Bastards.
As an American and an investor, I not only abhor these communist remarks, I believe that if these weasels prevail there will be a gigantic revolution!
I’m surprised to hear they are celebrating the demise of Lehman Brothers. Lehman Brothers were big financial supporters of Obama.
The applause in the posts is a bit more generalized than the freeper response to credit-tightening.
My question for these socialists is: why do you think we live in a capitalist society? Your side has been in the ascendant for the past century. This is your system failing!
Will O-dummy be returning all the donations from Lehmann?
It is kind of hard to feel for companies (not saying Lehman is) that give loans to people with very bad credit, make risky investment, and do other very foolish things. The government needs to let these companies fail or get absorbed instead of bailing them out and making the problem worse.
“poor little capitalists ...don’t they understand that money, not people, matters?”
But the money is used to buy capital, which produces things more efficiently, which allows poorer people to afford more and more...Aw, what’s the point explaining it? They don’t listen.
The really sad thing is, like every other major job loss in America; those ultimately responsible for the crushing losses are still employed, getting full benefits and cashing in on bonus’s and stock options.
Congress is ultimately responsible for the horrendous loan programs that were forced down the throats of Fannie Mae, Freddie Mac, and most every bank that is going through bankruptcy today. When Congress mandated that the rate of minorities owning homes is a racial factor, not a cultural, educational or fiscal responsibility issue, the banks were given a choice. Either the banks develop ‘programs’ for high risk, unqualified and financially irresponsible people with low credit scores to not only buy homes; but buy homes at an income:value ratio that few others qualify for - or Congress would impose sanctions against these banks.
So, against common sense, against every principle established by years of loan servicing - homes were sold to fiscally irresponsible people, and loans were developed that were simply insane for those people who did have a decent credit score.
Consider, one major bank in California that went bankrupt about a month ago has the claim that no income verification was required to qualify for a home loan. What?!?!??
Another had a perpetual loan where a person with a $100,000 income could buy a multi-million dollar home; and pay just $1,000/month on the loan. The balance of his mortgage payment would simply add to the principle on that loan. The idea is that the home would appreciate faster than the 10% interest rate. When the real estate market collapsed, people who earned only 100,000/yr living in a $4.5 Million dollar home found that their home was worth only $1.75 Million; and declared bankruptcy.
And we, the taxpayer get to eat the bill; because Congress acted irresponsibly AGAIN.
We have no choice now but to ride out this storm. Neither candidate or party can change the course of this toxic lava flow. My advice: Buy gold and pray.
I’ve read libs say it’s Bush’s fault for “lack of regulation” of the industry. Wha?
The house needs to be cleaned, there is no tightening of credit. Only acceptable standards of credit worthiness.
BINGO, but that would leave no room for attacks. It's all about the issue for the cool aide drinkers, it is not about correcting the problem.
/sarc
BINGO, but that would leave no room for attacks. It's all about the issue for the cool aide drinkers, it is not about correcting the problem.
I wonder if they know that those Lehman employees gave almost half a million dollars to Obama.
They are attacking their own base of support.
The only thing Ive got to say to any DUer or Freeper who thinks it funny that people are losing their jobs. You’re an @$$hole and an idiot. 95% or more of those losing jobs are regular people who dont make huge salaries and get huge bonuses. They have mouths to feed and bills to pay just like any other average American. So while your getting a good chuckle I hope you choke on it.
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