FDIC Loan Modification Program *Screw the borrower*

[jpinpb]

If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.

[davelj]

[quote=jpinpb]If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.[/quote]

Depends on how you look at it. Renters presumably have jobs. Many of those jobs would disappear in a depression. So avoiding a depression would be in renters’ best interests.

Also, the average – note I said AVERAGE – renter probably earns around the median income or below. These folks don’t pay much in the way of income tax anyway. So they won’t be paying for a big piece of the various bailouts either.

Finally, prices are going to continue heading down regardless, so renters who want to buy are still going to come out ahead. And for folks that want to keep renting just because they like renting… how are they getting screwed? I’m not seeing it.

[davelj]

[quote=jpinpb]If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.[/quote]

Depends on how you look at it. Renters presumably have jobs. Many of those jobs would disappear in a depression. So avoiding a depression would be in renters’ best interests.

Also, the average – note I said AVERAGE – renter probably earns around the median income or below. These folks don’t pay much in the way of income tax anyway. So they won’t be paying for a big piece of the various bailouts either.

Finally, prices are going to continue heading down regardless, so renters who want to buy are still going to come out ahead. And for folks that want to keep renting just because they like renting… how are they getting screwed? I’m not seeing it.

[davelj]

[quote=jpinpb]If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.[/quote]

Depends on how you look at it. Renters presumably have jobs. Many of those jobs would disappear in a depression. So avoiding a depression would be in renters’ best interests.

Also, the average – note I said AVERAGE – renter probably earns around the median income or below. These folks don’t pay much in the way of income tax anyway. So they won’t be paying for a big piece of the various bailouts either.

Finally, prices are going to continue heading down regardless, so renters who want to buy are still going to come out ahead. And for folks that want to keep renting just because they like renting… how are they getting screwed? I’m not seeing it.

[davelj]

[quote=jpinpb]If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.[/quote]

Depends on how you look at it. Renters presumably have jobs. Many of those jobs would disappear in a depression. So avoiding a depression would be in renters’ best interests.

Also, the average – note I said AVERAGE – renter probably earns around the median income or below. These folks don’t pay much in the way of income tax anyway. So they won’t be paying for a big piece of the various bailouts either.

Finally, prices are going to continue heading down regardless, so renters who want to buy are still going to come out ahead. And for folks that want to keep renting just because they like renting… how are they getting screwed? I’m not seeing it.

[davelj]

[quote=jpinpb]If everyone gets money from the gov, that would homeowners and renters. If just the homeowners get bailed, the renters get screwed again, doubly, b/c their tax dollars will/is helping the bailout.[/quote]

Depends on how you look at it. Renters presumably have jobs. Many of those jobs would disappear in a depression. So avoiding a depression would be in renters’ best interests.

Also, the average – note I said AVERAGE – renter probably earns around the median income or below. These folks don’t pay much in the way of income tax anyway. So they won’t be paying for a big piece of the various bailouts either.

Finally, prices are going to continue heading down regardless, so renters who want to buy are still going to come out ahead. And for folks that want to keep renting just because they like renting… how are they getting screwed? I’m not seeing it.

[davelj]

[quote=CA renter]davelj wrote:

Look, I’m quite bearish. But data suggests that avoiding a depression is easily achievable with the right policy response.
——————

What would you propose?[/quote]

I’m going to get to this – I promise – but I don’t have time at the moment. I’ve been juggling various strategies in my head but need to put pen to paper.

But I’ll say this for the moment – the problem isn’t financial capacity; it’s politics. It would be more beneficial to have a marginal, modestly effective strategy enacted immediately than to have the “perfect” strategy enacted over 2 years. Because 2 years is too long to wait. The danger here is the politics of the thing. There’s a lot of dawdling on about whose ox is getting gored and whose isn’t.

[davelj]

[quote=CA renter]davelj wrote:

Look, I’m quite bearish. But data suggests that avoiding a depression is easily achievable with the right policy response.
——————

What would you propose?[/quote]

I’m going to get to this – I promise – but I don’t have time at the moment. I’ve been juggling various strategies in my head but need to put pen to paper.

But I’ll say this for the moment – the problem isn’t financial capacity; it’s politics. It would be more beneficial to have a marginal, modestly effective strategy enacted immediately than to have the “perfect” strategy enacted over 2 years. Because 2 years is too long to wait. The danger here is the politics of the thing. There’s a lot of dawdling on about whose ox is getting gored and whose isn’t.

[davelj]

[quote=CA renter]davelj wrote:

Look, I’m quite bearish. But data suggests that avoiding a depression is easily achievable with the right policy response.
——————

What would you propose?[/quote]

I’m going to get to this – I promise – but I don’t have time at the moment. I’ve been juggling various strategies in my head but need to put pen to paper.

But I’ll say this for the moment – the problem isn’t financial capacity; it’s politics. It would be more beneficial to have a marginal, modestly effective strategy enacted immediately than to have the “perfect” strategy enacted over 2 years. Because 2 years is too long to wait. The danger here is the politics of the thing. There’s a lot of dawdling on about whose ox is getting gored and whose isn’t.

[davelj]

[quote=CA renter]davelj wrote:

Look, I’m quite bearish. But data suggests that avoiding a depression is easily achievable with the right policy response.
——————

What would you propose?[/quote]

I’m going to get to this – I promise – but I don’t have time at the moment. I’ve been juggling various strategies in my head but need to put pen to paper.

But I’ll say this for the moment – the problem isn’t financial capacity; it’s politics. It would be more beneficial to have a marginal, modestly effective strategy enacted immediately than to have the “perfect” strategy enacted over 2 years. Because 2 years is too long to wait. The danger here is the politics of the thing. There’s a lot of dawdling on about whose ox is getting gored and whose isn’t.

[davelj]

[quote=CA renter]davelj wrote:

Look, I’m quite bearish. But data suggests that avoiding a depression is easily achievable with the right policy response.
——————

What would you propose?[/quote]

I’m going to get to this – I promise – but I don’t have time at the moment. I’ve been juggling various strategies in my head but need to put pen to paper.

But I’ll say this for the moment – the problem isn’t financial capacity; it’s politics. It would be more beneficial to have a marginal, modestly effective strategy enacted immediately than to have the “perfect” strategy enacted over 2 years. Because 2 years is too long to wait. The danger here is the politics of the thing. There’s a lot of dawdling on about whose ox is getting gored and whose isn’t.

[eyePod]

[quote]
If just $2 trillion of the $7 trillion the government has so far committed for the financial sector were to be channeled directly to the unemployed, each worker would receive $200,000
[/quote]

Can you show your math? I get $20K, not $200K

[eyePod]

[quote]
If just $2 trillion of the $7 trillion the government has so far committed for the financial sector were to be channeled directly to the unemployed, each worker would receive $200,000
[/quote]

Can you show your math? I get $20K, not $200K

[eyePod]

[quote]
If just $2 trillion of the $7 trillion the government has so far committed for the financial sector were to be channeled directly to the unemployed, each worker would receive $200,000
[/quote]

Can you show your math? I get $20K, not $200K

[eyePod]

[quote]
If just $2 trillion of the $7 trillion the government has so far committed for the financial sector were to be channeled directly to the unemployed, each worker would receive $200,000
[/quote]

Can you show your math? I get $20K, not $200K

[Author]

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