This keeps gittin’ more funner all the time….

As far back as ten maybe 15 years ago , me an the wife would be out driving for what ever reason and we would look at all the houses being built in the area . It was not the amount of houses that took our attention it was the size of them and expense of them , we would both look at each other and say ,”who can buy these houses ?there is not enough rich people in this area to buy that many houses that are going for 250,000 so we were in a quandary about who was buying the houses . We found out in 2008 why there were so many high priced houses being built , they were loaning money to people that had no job no home and on welfare. Here is the good intentions gone wrong but no accountability for the dumb idea of getting people in to the houses at all costs and no idea of what would follow. Now Obama is putting the blame on Bush when Bush and his administration tried 17 times to get regulations set in place but the democrats , Waters , Franks , dude, Obama and others prevented them from safely stopping the bleeding before it was to late . an Ideal government to day would be a house full of republicans and Obama , he would be stopped from doing dumb things as he has already done and will do until he is out of office .

And I am still waiting for anyone to explain why we can not give each of these distressed “homeowners” $1 million apiece, that would allow them to pay off their mortgages and have a nice chunk of change to inject into the economy. And only cost $9 million. Why do we have to spend $73.7 billion to “help” 9 million who have mortgages well below $500 thousand?

O is gonna save families homes, insure their kids health, cut their taxes, lend their kids money to go to college.

Pure bullshit! Obama/Mugabe is going to turn all productive Americans into his indentured servants.

(W)hat I’ve done throughout this campaign is to propose a net spending cut…. What I want to emphasize … is that I have been a strong proponent of pay-as-you-go. Every dollar that I’ve proposed, I’ve proposed an additional cut so that it matches

Candidate Barack Obama

I have rolled with the punches for 50 years , one time I sought welfare and was rejected while women that had 12 kids was driving caddies and working no where I was 36 and I went to get temporary help and was refused , thankfully the V.A set me up with a two week grocery voucher and I made it fine . I have never applied for welfare again , I believe that a person should work for a living . this mortgage bail out is not going to work I think if they give every one what they are allowing for the money they have to give in the package it would be about 8,000 bucks that will get them in more trouble, it would pay up their payments for a few months and then they will default again the money might as well be thrown in a fire and burned up .and how can 9 million give a million apiece to 9 million people that math does not add up it would conme to 8,333.33 each mortgage holder I am not sure if the 9 million is the number something like 70 billion is the ear mark

Alright, got another leftard moron to do the math! Now do it with the figure $250 thousand.

I can’t stand the thought of big government, especially under this president.

However, let’s not assume that all hard times and bankruptcy filings are a result of irresponsible living. That would be as inaccurate as assuming that all wealth and “prosperity” are generated honestly and fairly.

Can you feel it?
The death of the Republican party by a thousand cuts.

O is gonna save families homes, insure their kids health,
cut their taxes, lend their kids money to go to college.

My goodness. How did we ever manage to get along before we had Barack Obama around to pay our mortgages and care for our children?

The irresponsibility was on the part of the homeowners in that they signed those mortgages in most cases without taking serious review of what they were signing on to. Vast undertakings with half-vast ideas as they say. $300K principle on a 30 year mortgage with a 4% jumping to 10% after two years? Why not? You can always refinance before then, right?

That gamble was incredibly stupid. Some managed to do it. Others, not.

The second irresponsible party was the mortgage industry between the mortgage arrangement agents and the banks and the companies and so on. They knew that these people could not swing the larger interest rates later on. They knew that the mortgages were for vastly overpriced homes. The market was overheated and they knew it. They only cared about their cut. They figured, if they default, it’s not their problem and besides, for many of them the government will cover it somehow. Within the one to three year term before first adjustment, many mortgages would be sold one to three times making fingers point to anyone except the ones who originated the loans and finessed the figures to make them happen.

The third irresponsible party was the US Govt. which did nothing to stop all this and everything to make it happen. From neoneocons who wouldn’t know fiscal responsibility if it bit their crotch to social activist liberals who pushed endlessly to get unaffordable mortgages for overvalued houses to people who had insufficient incomes, to functionary pencil pushers who didn’t watch the market.

Now, the liberals want to reward everyone for their stupidity, and lay the groundwork for even larger follies to come.