Thursday, September 22, 2011

Rick goes on the warpath

Santelli & a Yale professor go at it over how to cure housing woes. Naturally the professor wants to reduce the principal for those who are underwater and can't pay their mortgages. Of course he doesn't say anything about the people who are living next to him, making their payments, and could use some help as well. Where does it stop? Anyway, its an interesting little exchange.




6 comments:

KaptKangaroo said...

If you cannot afford the house you bought or figure out a way to afford it, you lose it. Period. If you live beyond your means, I have no intention of paying your way.

Anonymous said...

Well Kapt'n, I would seem your intentions are irrelevant. If you pay taxes then you are already paying the way.

Anonymous said...

ARGGGHHH!
The foreclosure situation is extremely stupid. The empty properties are going to seed.
As it stands EVERYBODY loses.
The banks need to renegotiate the payments in SOME way and it little matters whether its extended payments or reduction of principle or interest.
Better to have payments for a longer period on a property than have an empty property that deteriorates.
Even reducing the principle doesn't hurt the banks as much as foreclosure because they can't get more than the current market value ANYWAY and AGAIN, a house that's empty for a long time loses value in ANY market. The principle was a FANTASY figure! It doesn't represent the actual market value of the asset and DIDN'T at the time of the loan as the BANKS were in a better position than the purchasers to recognize an inflated market price.
Those of you arguing that it's not FAIR to the people next door forget that 1)the people next door aren't benefitting from a foreclosed house next door to them 2) the people next door could position themselves to go into foreclosure and assume the accompanying impact to their credit and assume the hassles.

You are all pretending like those who " bought more than they could afford", did that deliberately rather than out of ignorance and ignore that those LENDING them the money were supposed to be SMART enough not to LEND money to someone who had no hope of paying back the loan!
And, those of you making these arguements need to get out a pen and pencil on YOUR home investment. You'll likely discover that what looked sound a couple of decades ago isn't worth what you've put into it! YOUR homes have lost value as well.
It's in EVERYONE'S interest to get the housing market FIXED .
NO lender was FORCED to make bad loans on bad properties or to bad risks. Indeed, a few banks DID NOT.
Not every F'ing thing is about political philosophy. This is about F'ing money and profit. Just because political strategists want you to think finance and religion and child rearing and the kitchen sink is related to a political point of view, doesn't make it so. You are just being played!

KaptKangaroo said...

That made no sense. If you charge up a credit card you think you should be allowed to not pay it? Bullshit on having the intelligence to buy a house! Caveat emptor!

Anonymous said...

No response needed Kapt. 8:52 made no sense.

Anonymous said...

Some money/no money...deterioring asset/maintained asset... why is this hard ?

You'd rather get 0 money on a bad investment than 10 cents on the dollar? You'd rather get no money back than get all the money back over a longer period?


Why don't you understand that someone who loans money to someone they should know can't pay them back is as stupid as the one who promises to pay them back and can't?

Why do you think we HAVE 3 credit bureaus? It's so BUSINESSES can assess the risk of loaning money!!!! If they assess it WRONG, you think THEY have NO responsibility and the one who asked for the loan has ALL the responsibility?

Who has better access to actual building costs/market value vs selling price? The buyer or the lender?

ALL the mortgages companies had to do IS JUST SAY NO!!!!!!

Does this help you Shadowfax and 1:50?

If not, please , please let someone else handle your finances.


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Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


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This is definitely a Beaver production.


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Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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