liberals want grants

[CostaMesa]

Who is at the root of these problems? Stupid people that are easily fooled and those who seek to make money or gain glory from them.

Can anyone provide factual data to demonstrate how this proposal is anything beyond something that a few people are using to make money or gain glory?

I don’t see this issue as being associated with the left or any other political organization.

If people want to start painting ‘the other side’ with an extra-broad brush – y’all better be ready when ‘the other side’ is ready to fight back…because I most certainly do not appreciate other fellow Americans questioning my integrity (implictly or explicitly) based on the actions of a few useless schmucks. I would assume that conservatives would also prefer not to be treated in that manner…

[drunkle]

the hubris demonstrated by some is amusing but ultimately pathetic.

the linked article does nothing to explain what is being proposed. being blinded by hubris, these “conservatives”… no, strike that, they’re not even conservatives, these douchebags don’t even bother to ask. if they thought about it, they’d think, “hey, these taxpayer funded grants would actually help my corporate bank buddies…” and they would not raise such a stink. but being the idiot douchebags they are, they just chant “liberals suck liberals suck”.

you would wonder what these chimps would do with their free time if it weren’t for the government built internet on which they currently drool.

[movielover]

I agree that personal responsibility should be upheld and that grants would be unfair to those who’ve managed to own homes by being fiscally responsible by either saving or making good financial decisions.

The big issue is that these people with low-income shouldn’t have been able to buy homes in the first place. The dream to own a home is really powerful, and a lot of lenders took advantage of that to make those dreams a reality. Sometimes emotions get the best of people, and coupled with the hope that the property will go up in value, I don’t exactly blame those poor people for signing on the dotted line. Should they get bailed out? I don’t think so.

What we really need to focus on is to figure out how people with low-income can actually afford to buy a house/condo in San Diego. It’s up to the point in San Diego where in order to be considered middle class, you have to be making over $100K. That’s just sad.

[Happy renter]

It’s extremely ridiculous for the Gov’t to grant money for paying people’s mortgages. How about us? Should the Gov’t pay the rents for us? The Gov’t itself has so much debts already.

http://brillig.com/debt_clock/

Tell the Gov’t to get the Loan from the Subprime lenders! It’s zero down with 1% interest rate. The Gov’t spends too much money on the lazy greedy insane people already. It is endless!!!!

[sdappraiser]

Umm. How many of you guys have checked your company sponsored 401k or pension plans lately? Powayseller convinced you to sell your stock funds last August and you put your stash in bond funds to play it safe? Some of you might be VERY surprised how many mortgage backed securities are held in high rated intermediate bond funds.

Check the holdings of your funds! Or you might end up indirectly paying for this mess anyways.

[AK]

I’m no Republican … they had to work really, really hard to lose my vote forever, but they finally did it a few years ago.

But when stuff like this comes out of the Capitol Hill sausage factory, all I can say is: “A pox on both your houses!”

Sen. Christopher Dodd (D-Conn.) wants some kind of direct assistance to subprime borrowers, throwing around bogus numbers like “$164 billion in lost wealth” and “2.2 million homeowners.”

http://www.bloomberg.com/apps/news?pid=20601103&sid=aww3A6BGTLuQ&refer=us

A cynic might wonder if the “lost wealth” he’s really trying to protect belongs to his campaign contributors:

http://www.opensecrets.org/pacs/memberprofile.asp?cid=N00000581&cycle=2004&expand=F07

These include, for the 2004 cycle alone:

New Century: $9,000
Goldman Sachs: $14,000
National Association of Realtors: $6,000
Morgan Stanley: $4,000
Bear Stearns: $2,000
Countrywide: $2,000
Fannie Mae: $5,000
Washington Mutual: $6,000
Centex: $1,000
UBS: $5,000
Wachovia: $7,000

And others.

We’ve already given the REIC billions upon billions in tax breaks and other direct/indirect subsidies. Now he wants to fork out billions more in an effort to shore up the collapsing subprime mortgage industry, in a way that offers no long-term solution to the irresponsible fools he claims to be protecting.

And who bears a disproportionate financial burden for this and other ill-conceived schemes? Thanks to our tax code, it’s renters.

I AM ******* PISSED.

[drunkle]

re: 401k
i had just reviewed mine the other day and none of the available funds, not even a money market was free of mbs’. 401k’s are ridiculous, fraudulent tools of investment bankers used to guarantee influx of money. and with today’s savings rate, static income and lower population, i wonder what will happen once the baby boomers start drawing their 401’s down. reminds me of a pyramid scam.

re: center for responsible lending, sen dodd’s proposal
the crl seems to be affiliated to the major banking institutions. where were they when sub prime mortgages and arms were exploding and making the banks massive profits? ‘liberal’ my ass.

[kev374]

Congress must aid subprime victims

On Tuesday, two top Democratic lawmakers said that they were mulling legislation to tighten subprime lending rules and aid borrowers now in distress.

The sense of entitlement is unbelievable. Now they are entitled to keep the house as well?

[bob007]

What do you expect from the party of entitlements ? I still think the GOP deserves a couple or more whippings for nominating Goerge Bush in 2000.

[Author]

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