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View Full Version : A Message from the Bush Administration over the Housing Bubble



cdog
12-06-2007, 11:30 AM
Dear Thrifty American Who Lives Within His Means,
Fuk you.
--Bush Administration
http://i196.photobucket.com/albums/aa198/caddopearl/kyjelly.gif

ratso
12-06-2007, 11:35 AM
Exactly...

ULTRA26 # 1
12-06-2007, 11:36 AM
Perfect.

RitcheyRch
12-06-2007, 12:14 PM
Totally agree

Jyruiz
12-06-2007, 12:17 PM
Yup.

bigq
12-06-2007, 01:30 PM
oh waaaaaa!
Just go with it...
Need to get me into a house real quick like with a neg am loan...see... think positive:D

2Driver
12-06-2007, 01:41 PM
Just like the kids soccer league. No matter how the team did everyone gets the same trophy on award day. :rolleyes:
Come to think of it, hmmmm maybe these are the first group of the "we dont keep score" generation. :D

RT21
12-07-2007, 11:41 AM
Im calling the White House today. Going to ask if they can do something about those pesky high interest rates on my credit cards.
What a jag-off Boosh is.

It's Only Money
12-07-2007, 11:49 AM
The Paulson proposal will paralyze the US housing market for years. Who in their right mind will lend money for home ownership ever again if the contract can become null and void the second the unwashed masses start screaming to their elected officials? Fannie? Freddie? Hell, they're bankrupt as it is and will only lend up to $417k which does nothing for either coast of the United States. Everyone in a protected [GSE guaranteed] mortgage won't ever leave cause they'll never get a better deal. Home prices will not reset to more sane levels. The Paulson proposal is a clusterfawk for generations X, Y and Z. Thank you very much. If this continues, the US is going to be just like Japan in the '90s. Be forewarned.

YeLLowBoaT
12-07-2007, 11:50 AM
Pretty much sums it up perfect.
No one forced you to sign for that loan. I don't know maybe its just me, but I always read every thing before I sign it. Now granted I'm sure there was a lot of people that were strait lied too by the loan officers.... still should have read it 1st.

cdog
12-07-2007, 11:58 AM
The Paulson proposal will paralyze the US housing market for years. Who in their right mind will lend money for home ownership ever again if the contract can become null and void the second the unwashed masses start screaming to their elected officials? Fannie? Freddie? Hell, they're bankrupt as it is and will only lend up to $417k which does nothing for either coast of the United States. Everyone in a protected [GSE guaranteed] mortgage won't ever leave cause they'll never get a better deal. Home prices will not reset to more sane levels. The Paulson proposal is a clusterfawk for generations X, Y and Z. Thank you very much. If this continues, the US is going to be just like Japan in the '90s. Be forewarned.
Scary but what you just said was the consensus over at the Economic Forecast meeting at Chapman University on Wednesday.
http://www.chapman.edu/argyros/asbecenters/acer/EconForecastConfReg.asp
Paulson had to bail out his big wig buddies holding the shit paper.

Hardly Satisfied
12-07-2007, 01:15 PM
Bush is a peace of $hit

Hardly Satisfied
12-07-2007, 01:16 PM
Bush is a peace of $hit

Not So Fast
12-07-2007, 01:21 PM
The tune has sure changed in regards to Good Ole Boy Bush hasnt it?? Havent liked him from day 1 myself. NSF

ULTRA26 # 1
12-07-2007, 01:23 PM
The tune has sure changed in regards to Good Ole Boy Bush hasnt it?? Havent liked him from day 1 myself. NSF
An echo. :D :D

RT21
12-07-2007, 01:32 PM
Dont be gettin all high and mighty. Your side of the isle is way more rediculous on this issue. Can you say "pandering"?

catman-do
12-07-2007, 02:12 PM
You know what I often find amazing, is that everyone points to the current officials. However, when it comes to the people that caused the mess in the first place, everyone forgets about that person. Lets remember this, that out of prosperity comes times of disparity. Greenspan is the one who kept cutting rates in order to offset the secondairy markets on wall st. So in order to keep one market from crashing the whole economy, he offset it with the imaginairy markets that lower rates brought us. He KNEW that if rates would drop, values would go up. He KNEW that if values would go up, capital spending would not drop and in fact would rise. He KNEW that the spending of those people would be out of their "means". He also KNEW it was time to get his ass out of there before the backlash came back on him.
So, when Bush comes into the picture to clean up there are not many choices. Its either let the people get screwed in a small way with bailouts, or let the whole country get screwed in a huge way with an economic colapse.
I personally get sick of the threads about the markets falling, and everyone bitching about this and that. If you dont like it and think its unfair.... well thats how the system is set up. Start using it to your advantage. The rich get richer, while you sit and complain.... why?? Because they know how to play the system and you dont.

DogMan
12-07-2007, 02:20 PM
The plan is a slap in the face for people who have prudently sat out of the housing bubble, or resisted in cashing out their equity to finance there standard of living. It will also help in keeping market values inflated, by reducing repos, keeping would be buyers locked out of an over inflated market. Yea, lets bail out the people who over-leveraged themselves with 600,000 plus price houses and risky mortgages...what a bunch of crap!!!:mad:

RT21
12-07-2007, 02:47 PM
:rolleyes: You know what I often find amazing, is that everyone points to the current officials. However, when it comes to the people that caused the mess in the first place, everyone forgets about that person. Lets remember this, that out of prosperity comes times of disparity. Greenspan is the one who kept cutting rates in order to offset the secondairy markets on wall st. So in order to keep one market from crashing the whole economy, he offset it with the imaginairy markets that lower rates brought us. He KNEW that if rates would drop, values would go up. He KNEW that if values would go up, capital spending would not drop and in fact would rise. He KNEW that the spending of those people would be out of their "means". He also KNEW it was time to get his ass out of there before the backlash came back on him.
So, when Bush comes into the picture to clean up there are not many choices. Its either let the people get screwed in a small way with bailouts, or let the whole country get screwed in a huge way with an economic colapse.
I personally get sick of the threads about the markets falling, and everyone bitching about this and that. If you dont like it and think its unfair.... well thats how the system is set up. Start using it to your advantage. The rich get richer, while you sit and complain.... why?? Because they know how to play the system and you dont.
Thanks for the lesson in capitalism 101, Obi-wan. :rolleyes:

C-2
12-07-2007, 02:57 PM
I personally get sick of the threads about the markets falling, and everyone bitching about this and that. If you dont like it and think its unfair.... well thats how the system is set up. Start using it to your advantage. The rich get richer, while you sit and complain.... why?? Because they know how to play the system and you dont.
Agreed about the threads, the obvious has already happened. It was fun debating and promoting doom and gloom, but the points were made earlier this summer.
I luv thread after thread about the financial wizards who did nothing during the boom; and will continue to do nothing during the crash. Yup, that's a helluva strategy to get ahead of the game.:idea:
Catman-do - you've been pretty candid and open about your journey, and I wish you the best. There are many, many people here who could learn from your humility.:)

catman-do
12-07-2007, 03:00 PM
:rolleyes:
Thanks for the lesson in capitolism 101, Obi-wan. :rolleyes:
No problem! Now, jump back on the bandwagon of complainers. It seems like thats what people do now days. Must be the winter blues.

RT21
12-07-2007, 03:36 PM
Thats funny. I am a complainer? Seems to me that the complainers were the homeowners stuck with bad loans. They cried a river all the way to GW.
Try again.

ULTRA26 # 1
12-07-2007, 03:46 PM
Dont be gettin all high and mighty. Your side of the isle is way more rediculous on this issue. Can you say "pandering"?
Nothing high and mighty about not caring much for Bush :D
Im calling the White House today. Going to ask if they can do something about those pesky high interest rates on my credit cards.
What a jag-off Boosh is.
Dont be gettin all high and mighty. Your side of the isle is way more rediculous on this issue. Can you say "pandering"?
Make up your mind :D

RT21
12-07-2007, 04:02 PM
Uhm, how about........a lessor of two evils?

catman-do
12-07-2007, 04:14 PM
[QUOTE=RT21;2932343]Thats funny. I am a complainer? Seems to me that the complainers were the homeowners stuck with bad loans. They cried a river all the way to GW.
Try again.[/QUOTE
First off- I wasnt talking about the people who put themselves in bad loans. I personally believe that they should loose their homes, however if we do it in mass quantities it will drive down the WHOLE economy. Second- if you look into the issue of Govt bailouts its not the homeowner, its the corps that are asking for assistance. Look towards countrwide, Lehman Brothers, GE, Citi, BofA, and many other financial institutions that wrote the paper on these loans. THEY are the ones that are getting the assistance from the govt. When it comes down to it, the govt doesnt give a flying f..k about the indivicual, they do however care about milti billion dollar companies folding, causing an economic meltdown not only accross the country but accross the world. I dont know what industry you are in, but if you let all these loans go bad without having a govt bailout there is a substantial chance you may not be working, even if it has NOTHING to do with the housing industry. Our economy has three types of wealth. Private industry, investments, and real estate. Without any one of those three, no one would have money. Look at anyone with money, and they will all eventually boil down to one of those three. BTW one of the largest paper buying industries is the Insurance industry, so if your insurance rates go up in the near future, its probably because they are loosing on their investments.

talkinghead
12-07-2007, 10:04 PM
I don't want to be self-righteous, but it's a slap in the face to those who are financially 'responsible'.
But I expect nothing less - the financial system is rigged to the max IMO.
This bailout continues to encourage people to live above their means.
But then again I know people who buy cars they can't afford, it gets repo'd and a week later they are in a new car. Financial responsibility means very little these days as long as you keep spending.

RT21
12-07-2007, 10:38 PM
[QUOTE=RT21;2932343]Thats funny. I am a complainer? Seems to me that the complainers were the homeowners stuck with bad loans. They cried a river all the way to GW.
Try again.[/QUOTE
First off- I wasnt talking about the people who put themselves in bad loans. I personally believe that they should loose their homes, however if we do it in mass quantities it will drive down the WHOLE economy. Second- if you look into the issue of Govt bailouts its not the homeowner, its the corps that are asking for assistance. Look towards countrwide, Lehman Brothers, GE, Citi, BofA, and many other financial institutions that wrote the paper on these loans. THEY are the ones that are getting the assistance from the govt. When it comes down to it, the govt doesnt give a flying f..k about the indivicual, they do however care about milti billion dollar companies folding, causing an economic meltdown not only accross the country but accross the world. I dont know what industry you are in, but if you let all these loans go bad without having a govt bailout there is a substantial chance you may not be working, even if it has NOTHING to do with the housing industry. Our economy has three types of wealth. Private industry, investments, and real estate. Without any one of those three, no one would have money. Look at anyone with money, and they will all eventually boil down to one of those three. BTW one of the largest paper buying industries is the Insurance industry, so if your insurance rates go up in the near future, its probably because they are loosing on their investments.
Yes, we have all heard these arguments before. A total meltdown of the world. I dont know how old you are, but look at the early 90's. They couldnt give property away. Seems the world is still here. Everything goes in cycles. It was just a bad move, and really unprecedented for W to stick his nose in this area of the market. F-him. Why doesnt the gov just set the interest rates for everything?

cdog
12-07-2007, 10:41 PM
I thought it was funny. Trying to make light of the subject. Lube up boyz.:D