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24HourForums.com > Supported Forums > 24's Money Business > How long til the "SUBPRIME MORTGAGE" debacle shows up... |
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Pyrite Original500© Member 
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...in the PURCHASERS of those junk "securitizations." Wellllll folks..... them is the INSURANCE COMPANIES that many of ya are counting on to actually HAVE something for the premiums you have paid. or....gulp.... an ....ANNUITY! gleep. 
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Pyrite Original500© Member
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http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/WarningThisMessWillOnlyGetWorse.aspx?page=all gleep II
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Erinna1112 Original500© Member  Witty clever title pending
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You mean it's a bad idea to lend money to people who can't afford to pay it back? Shock and horrors. Whoda thunk it?
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Pyrite Original500© Member
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No. It's a bad idea to allow your "representatives" in Washington to cut TRADE AGREEMENTS that deprive AMERICANS of manufacturing jobs that would allow timely repayment of borrowed funds for housing.
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Erinna1112 Original500© Member Witty clever title pending
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It's still not OK for people to buy houses whose payments represent half their income, when they're already up to their eyeballs in debt, borrowing more than the home is worth, at interest rates that can jump without notice? Nope, I'm not buying it...personal responsibility has got to come into play here. It's not the government's fault these people borrowed more than they could handle. That's just plain stupid. With zeros on the end.
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Pyrite Original500© Member
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Them GREEDY idjits wudda sat on hot coals to get them loans. After all, they wuz gonna FLIP the house an make a KILLIN! 
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CarlWohlforth Original500© Member 
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<<Wellllll folks..... them is the INSURANCE COMPANIES that many of ya are counting on to actually HAVE something for the premiums you have paid. or....gulp.... an ....ANNUITY>> <<No. It's a bad idea to allow your "representatives" in Washington to cut TRADE AGREEMENTS that deprive AMERICANS of manufacturing jobs that would allow timely repayment of borrowed funds for housing.>> Nice leap there! You should try for the Olympic team! Why, oh why, do people look for conspiracies when the simple answer is the most likely? Bottom line is sub-prime scud suckers got way too greedy and gave half a million bucks to people who can't even work a full week! This is a minor problem and it is good that in America we have a system that will flush these *$%^& kinds of businesses down the toilet.
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sirlamre Pioneer100© Member Official Forum Troublemaker
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CarlWohlforth wrote: <<Wellllll folks..... them is the INSURANCE COMPANIES that many of ya are counting on to actually HAVE something for the premiums you have paid. It's not entirely a leap While YES, it IS ultimately the borrowers responsibility to decide what they can afford... ..Are you really saying there should be NO responsibility in Washington to effectively LIMIT and punish idiots in business who do bad things to the citizenry? If that's what you're saying, essentially a "buyer beware" world-- businesses should do whatever will sell their product, and it's up to the buyer to beware bad deals, enticing them to buy things they shouldn't... then logically, you also support the idea that cigarette and beer companies should be allowed to market THEIR products in any way they want to, to the entire range of potential US customers... whether the "customer" is 17 years old, or happens to be 21 years old All the responsibility for making a good decision resides with the customer-- I'd bet, however, that you DON"T support your basic "buyer beware" logic in the case of cigarettes and beer.. ..but you DO support that logic in the case of mortgages?? That essentially means that you believe that a great amount of wisdom is gained between 17 years old and 20-21 years old (at one age for buying beer, and just a couple of years later for getting their first mortgage) I don't. I think the COMPANY must be held to the same ethical and moral standards of advertising in BOTH cases. Yes-- the buyer is ultimately responsible... But just how far do you want the ropes taken off companies???
 Turn thou unto God and say: O my Sovereign Lord! I am but a vassal of Thine, and Thou art, in truth, the King of kings. I have lifted my suppliant hands unto the heaven of Thy grace and Thy bounties. |
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CarlWohlforth Original500© Member
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There is another leap! Why yes, I do support the Beer and Cig companies. After all you are an idiot to smoke and drink. It is clear that smoking is horrible for your health. It is not so clear about drinking. Yes drinking too much is terrible but drinking in a very small way may actually be good.... If you believe what I said you are listening to an idiot. I smoked for many years and still drink. <<..Are you really saying there should be NO responsibility in Washington to effectively LIMIT and punish idiots in business who do bad things to the citizenry?>> Washington is not responsible for people that jump off the edge into the Grand Canyon. Duh! It is very far down... Anyway there are signs there: "Beware of edge", and "Don't fall", or something like that. Duh! Like I need a sign to warn me that my behaviour of getting close to the edge of a cliff that is thousands of feet straight up is dangerous... and if I fall I can sue Washington... What ever happened to personal responsibility? I never sued anybody though I could have. I hate the US mentality that someone else is responsible for our own choices...
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librtyhead Original500© Member 
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Bumpety bump bump.......I was just going back in the archives looking for predictions this is old but still good. Last edited on 07:52 pm by librtyhead |
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24HourForums.com > Supported Forums > 24's Money Business > How long til the "SUBPRIME MORTGAGE" debacle shows up... | ||||||||||||||||||||||||||||||||||||||||
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