- This topic has 30 replies, 4 voices, and was last updated 16 years, 2 months ago by
MadeInTaiwan.
-
AuthorPosts
-
October 13, 2008 at 2:44 PM #287129October 13, 2008 at 2:49 PM #286828
j
ParticipantWhat good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?
October 13, 2008 at 2:49 PM #287123ParticipantWhat good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?
October 13, 2008 at 2:49 PM #287169ParticipantWhat good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?
October 13, 2008 at 2:49 PM #287139ParticipantWhat good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?
October 13, 2008 at 2:49 PM #287166ParticipantWhat good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?
October 13, 2008 at 2:54 PM #287127MadeInTaiwan
Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
October 13, 2008 at 2:54 PM #287171Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
October 13, 2008 at 2:54 PM #287174Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
October 13, 2008 at 2:54 PM #287144Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
October 13, 2008 at 2:54 PM #286833Participant[quote=HereWeGo]I don’t see how a debtor nation can continue to spit in the eye of creditors. Isn’t the idea to mitigate the credit crisis rather than to exacerbate it?[/quote]
Well if we have a prolonged recession/depression creditors are not going to see their money back either. My admitted partisan interpretation of Obama’s position is that we temporarily inflate to unlock credit market, then tighten the belt except for infrastructure, high tech, and health care and raise taxes. In essence he is telegraphing to the creditors that we won’t continue to deficit spend once we get over the crisis. I don’t know if will work, but it appears to be the best compromise for governing and getting elected.
October 13, 2008 at 2:59 PM #287151Participant[quote=j]What good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?[/quote]
If it is only talk, then you can simply throw it away as an empty promise that a politician has no intention of keeping.
While I don’t like it, I also understand that the electorate punishes politician who don’t over promise. Since I think my guy has better decision making process and solutions for our country, I will accept that empty promise.
October 13, 2008 at 2:59 PM #287132Participant[quote=j]What good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?[/quote]
If it is only talk, then you can simply throw it away as an empty promise that a politician has no intention of keeping.
While I don’t like it, I also understand that the electorate punishes politician who don’t over promise. Since I think my guy has better decision making process and solutions for our country, I will accept that empty promise.
October 13, 2008 at 2:59 PM #286838Participant[quote=j]What good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?[/quote]
If it is only talk, then you can simply throw it away as an empty promise that a politician has no intention of keeping.
While I don’t like it, I also understand that the electorate punishes politician who don’t over promise. Since I think my guy has better decision making process and solutions for our country, I will accept that empty promise.
October 13, 2008 at 2:59 PM #287176Participant[quote=j]What good is a 90-day moratorium when most banks wait 6 months to start the foreclosure process. When somebody is 6 to 9 months behind on payments they will never catch up. 90-day moratoriums are simply talk.
The truth is this is going to be painful, but how is the pain going to be dispersed? Is it going to go mostly to the people and companies that caused the problem with some major over spill, or is it going to go straight to the tax payers with little consequence on the guilty parties?[/quote]
If it is only talk, then you can simply throw it away as an empty promise that a politician has no intention of keeping.
While I don’t like it, I also understand that the electorate punishes politician who don’t over promise. Since I think my guy has better decision making process and solutions for our country, I will accept that empty promise.
-
AuthorPosts
- You must be logged in to reply to this topic.