liberals want grants

[kev374]

Grants for low income foreclosures

This is ridiculous! This type of thinking angers me…WTF! These a-holes buy more than they can afford and live it up, now the rest of us are expected to pick up the pieces of their bad decisions? Ridiculous I tell ya!

[PerryChase]

I’m a liberal (lower case l) and I’m opposed to such grants. the money won’t go to the poor but end up in the pockets of the lenders and REIC.

How does it help the poor if the government steps in and help the poor make the mortgage payments on a houses they can’t afford for an extra 6-months. It just wastes money and delays the inevitable.

Sometimes you need tough love. Now is that time for that. Better spend the money on educating the next generation of low-income buyers.

[no_such_reality]

I have a feeling we’ll see many such proposals as the foreclosure “problem” slices through white middle class America. Joe & Jane Sixpack are going to cry a river over not realizing the terms while a simple peak in the garbage will show $3000 rims on Joe’s 2005 Truck and a 52″ flat panel LCD HDTV hung over the TV in the living room.

[gold_dredger_phd]

Why are you astonished by this?

Don’t you know that government is the only institution that habitually rewards failure?

If you are a mega-loser, then the government will pay for your health care, food, shelter, clothing (if you chose to wear any around the trailer park) and even phone and entertainment.

I love hearing stories like this, it reaffirms my cynicism regarding the role of the welfare state in shaping people’s choices.

[kev374]

I believe bad decisions should have consequences. These families should face these adversities and learn from them. They SHOULD lose their home and pay some price for their lapse in judgement. They will be more careful the next time around. I am opposed to just giving out handouts.

will show $3000 rims on Joe’s 2005 Truck and a 52″ flat panel LCD HDTV hung over the TV in the living room.

Tell me about it! I was watching this show on TV the other day about this 25 yr old girl who couldn’t afford her mortgage and was barely making ends meet and when they showed her living room there was a 50+” Plasma or LCD screen right there…just ridiculous!

[PerryChase]

She bought the plasma/LCD big screen on credit also. You know, it’s only $50/mo. And don’t forget the 1-year no payment, no interest (But if you pay only $50/month interest is retroactive at 30%).

[ucodegen]

@PC

Sometimes you need tough love. Now is that time for that. Better spend the money on educating the next generation of low-income buyers.

I tend to be middle road to conservative, and on this point, I can’t agree with you more.(as well as the previous paragraph of yours) Screwing with free markets only makes things really messy. It also comes down to:

Give a man a fish, feed him for the day.
Teach a man to fish, feed him for his life.

I also think that the changes in the bankruptcy laws need to be reviewed. I get the feeling that the banks felt that they could literally create indentured servants using its new limitations.

Looking at the other factor, bailing out those that act irresponsibly only encourages that behavior and penalizes those that save (who will be paying the taxes to cover the over-spender’s bailout).

On the aspect of banks/lenders: I suspect that them also getting burned on this will lead to better behavior on their part. I would also like to see some of the corporate veils pierced on some of the sub-primes that declared bankruptcy as things went south. They certainly did it fast. Protects the owning parent company (unless veil pierced). I could hear the shredders down here as they were declaring bankruptcy..

[salo_t]

well… liberals know they will be in office come 08 and will have to clean up this enormous pile of steamy crap left behind. Cant really blame them for thinking ahead.

For the record I don’t support any grants and to be honest I don’t think it would/could happen anyway.

[Anonymous]

That’s right. If you’re a poor loser, you might be able to eke out a few hundreds of dollars of bennies a month after a whole lot of humiliation and paperwork.

Then again, if you’re a very well connnected really really rich super loser, and probably a consistent Republican donor, the Federal Reserve and the Son of Resolution Trust Company and the bankruptcy laws will be able to bail you out for huge fees as “retention bonuses” in the re-org as your company goes chapter 11, and you raid your employees’ pension fund, and stick billions of liabilities on the Federal Government PBGC, FDIC. You can hide your prior gains in the corporate veil and in Florida property. You might even invest in the private equity fund which is buying out the corpse of your old company—-minus those pesky liabilities.

It’s really easy—you extort the government by threatening to ruin the lives and life savings of thousands or millions of hapless investors, depositors and employees. Voila, ‘for the sake of the stability of the banking system’, freshly created Federal Funds On Deposit get created by keyboard, with nine zeros on the end.

Your country club membership stays fully paid up.

[TemekuT]

Do you think perhaps that when the bankruptcy law changes were enacted that *someone* was looking ahead and, anticipating the coming wipeout from the housing sector, conveniently, proposed the changes in advance to protect the $$$ of the *powers that be*?

This is not to excuse the average consumer…”don’t buy stuff you can’t afford!!!”

[Anonymous]

Give a man a fish, feed him for the day.
Teach a man to fish, feed him for his life.
Teach a limited liability corporation with devious jurisdiction to practice strip-mining trawling, the man’s feed for life evaporates.
Supply-Side Jesus says it’s for his own good.

[Anonymous]

Let’s see how many hedge funds will be looking to the goverment to be bailed out. It should make helping low-income individuals (honest or not) pale in comparison.

[SHILOH]

I’m a conservative, but I can see if nothing is done…how many households will be displaced- and what affect will that have on communities?

[bob007]

I am fiscally conservative. But I think something has to be done towards housing for poor people. The old approach of low income housing created terrible places to live – housing projects in Chicago, New York etc.

[meadandale]

My favorite quote that I found recently:

A government which robs Peter to pay Paul can always depend on the support of Paul.–George Bernard Shaw

People made poor financial decisions and someone else (us) gets to pick up the bill? I’ve been living through this with the San Diego City Council for years and now I have to pick up the tab for people who couldn’t read a lending agreement or the escrow papers they signed? Or they could but counted on an appreciating market that didn’t happen?

Gee, maybe next the government will bail out some of the losses I’ve had in the stock market since it wasn’t really my fault that I lost that money.

I guess the phrase “Personal Responsibility” is becoming an oxymoron.

One more quote:

A liberal is someone who feels a great debt to his fellow man ….a debt he proposes to pay off with your money.
-G. Gordon Liddy

[Author]

Posts