Every time I hear the the coon or the beaver talk about bailing out dead beats that can't pay their mortgage or health care I want to punch them in the fucking face.
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Word to your employed mother. -
Only 5 more months of it.Comment
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I dont think the government should bail them out but I do think they should sit down with the banking industry and tell them you made this mess fix it,I don't care if you have to give 100 yrs loans. If you don't fix it, the amount of regulation we will add on will boggle your mind.Comment
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I will never get it. I come from a lower middle class family. My parents owned a house but then my mother died and my father was smart enough to sell it because he knew he could not afford it so he bought a smaller house and we dealt with what we could afford.
Seems now a days everyone thinks they need cable tv, high speed internet, 52 in plasma, 40,000 dollar car and a house to big then wonder why they can not pay their bills. Then have the balls to blame someone else.
You lose your job? That second your house should have been on the market, for market value. If you need to take a lose well thats life.
In the words of Ron Paul "Live within our means or we will be living beneath it"
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Last edited by notoldschool; 05-28-2008, 05:01 PM.No doubt one may quote history to support any cause, as the devil quotes scripture.
-- Learned Hand
http://www.bjpenn.comComment
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"...the lesson should be constantly enforced that though the people support the Government, Government should not support the people..."
~President Grover ClevelandComment
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The Banking Industry didn't cause this the Federal Gov't did under the Clinton admin. They made banks ease their lending practices so that lower income and minorities could own homes. Look at the US minority map and the forclosure map and they are almost exactly identical.
Everything the Gov't does gets fucked up !
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damm sounds lik some shit...Comment
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Nice try.
Phil Gramm was the chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs when the Gramm-Leach-Bliley Act that changed the laws separating banking, insurance and brokerage activities was passed in 1999.
So while it happened during the Clinton administration, it was spearheaded by a Republican who is now vice chairman of UBS, as well as a lobbyist on their behalf AND an economic advisor to the McCain presidential campaign.Comment
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Wait I found it : Glass-Steagall worked quite effectively until it was repealed during the Clinton administration (1999) as part of a larger initiative set forth in the Gramm-Leach-Bliley Act (Financial Services Modernization Act), which broadened the reach of banking institutions and allowed them to offer a smorgasbord of services to customers, including investment services, affiliations with securities firms, creation of bank ?holding companies? which created the appearance of separation between their various ventures despite the umbrella protection it provided, allowed for less regulation of foreign investment, and repealed regulations governing bank behavior.
Simply put, Gramm-Leach-Bliley removed many consumer protections and opened the door for many consumer traps.
found a article on it
http://query.nytimes.com/gst/fullpag...56C0A96F958260
It was lead by Phil Gramm republican the same one who now works for a bank. Hmmm. No liberals created this one.Comment
AIM: GrouchyGfy
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