- This topic has 90 replies, 15 voices, and was last updated 17 years, 2 months ago by lendingbubblecontinues.
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August 24, 2007 at 1:09 PM #80541August 24, 2007 at 1:25 PM #80674AnonymousGuest
I don’t believe that the majority of the gov’t cares about much other than profits and getting reelected; however, I feel that I might as well write to the congressmen again and at least do something. A 5-minute email message will at least be food for thought for someone working in the administration…
August 24, 2007 at 1:25 PM #80544AnonymousGuestI don’t believe that the majority of the gov’t cares about much other than profits and getting reelected; however, I feel that I might as well write to the congressmen again and at least do something. A 5-minute email message will at least be food for thought for someone working in the administration…
August 24, 2007 at 1:25 PM #80697AnonymousGuestI don’t believe that the majority of the gov’t cares about much other than profits and getting reelected; however, I feel that I might as well write to the congressmen again and at least do something. A 5-minute email message will at least be food for thought for someone working in the administration…
August 24, 2007 at 2:03 PM #80565POZParticipantHere is what I have so far: (all suggestions and criticisms are welcome)
I do not take this issue lightly and unlike most of the parties involved I have done due diligence when committing to the decision of writing you this letter. I am appalled and disgusted that a comprehensive housing bailout for gamblers and speculators is even considered. The “Free Market” (In case you needed a reminder) is defined as a theoretical, idealized, or actual market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
Any and all bail-outs including interest rate cuts (fed funds or discount window), moratoriums on foreclosures (which will only prolong the inevitable), unfounded increases of conforming loans, or any other tax funded initiative constitutes a serious Moral Hazard. The irresponsible behavior of buyers, lenders, investors, bankers, and the Federal Reserve (there are more people involved but you get the picture) trying to make something out of nothing. Alchemists had been trying to do for centuries what a few easy monetary policies and some financial savvy engineers could conjure up in a “free market” system. Please do not compound these mistakes by supporting a bail-out for these people unless a clear and irrefutable fraudulent act can be proved in a court of law.
The basic premise is simple, a lot players (the aforementioned participants) gambled and now its time to pay. Corrections are a painful fact of our “free market” system and there are lessons to be learned for all involved. The FUNDAMENTALS taught to us by our parents and grandparents still apply. Having government interfere with the free market system is un-American. Why is it that conservative, informed hard working Americans like myself and many others that did not buy into the speculative mania that preceded this housing problem should have to pay for those mistakes? Why is it that the rest of us are being punished? By not allowing for prices to correct and reach fair market value you are condoning and supporting those very things that you are constitutionally obliged to combat and in the process leaving the rest of us to hanging out to dry, never being able to reach the American dream of home ownership.
Do not give in to big business and special interests, they are the true benefactors of any bail-out plan. I know there is much pressure bestowed upon you to react favorably to those “distressed” individuals and corporations but I see it as your duty as my representative to listen to your constituency and act accordingly
Sincerely
Paulo
August 24, 2007 at 2:03 PM #80695POZParticipantHere is what I have so far: (all suggestions and criticisms are welcome)
I do not take this issue lightly and unlike most of the parties involved I have done due diligence when committing to the decision of writing you this letter. I am appalled and disgusted that a comprehensive housing bailout for gamblers and speculators is even considered. The “Free Market” (In case you needed a reminder) is defined as a theoretical, idealized, or actual market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
Any and all bail-outs including interest rate cuts (fed funds or discount window), moratoriums on foreclosures (which will only prolong the inevitable), unfounded increases of conforming loans, or any other tax funded initiative constitutes a serious Moral Hazard. The irresponsible behavior of buyers, lenders, investors, bankers, and the Federal Reserve (there are more people involved but you get the picture) trying to make something out of nothing. Alchemists had been trying to do for centuries what a few easy monetary policies and some financial savvy engineers could conjure up in a “free market” system. Please do not compound these mistakes by supporting a bail-out for these people unless a clear and irrefutable fraudulent act can be proved in a court of law.
The basic premise is simple, a lot players (the aforementioned participants) gambled and now its time to pay. Corrections are a painful fact of our “free market” system and there are lessons to be learned for all involved. The FUNDAMENTALS taught to us by our parents and grandparents still apply. Having government interfere with the free market system is un-American. Why is it that conservative, informed hard working Americans like myself and many others that did not buy into the speculative mania that preceded this housing problem should have to pay for those mistakes? Why is it that the rest of us are being punished? By not allowing for prices to correct and reach fair market value you are condoning and supporting those very things that you are constitutionally obliged to combat and in the process leaving the rest of us to hanging out to dry, never being able to reach the American dream of home ownership.
Do not give in to big business and special interests, they are the true benefactors of any bail-out plan. I know there is much pressure bestowed upon you to react favorably to those “distressed” individuals and corporations but I see it as your duty as my representative to listen to your constituency and act accordingly
Sincerely
Paulo
August 24, 2007 at 2:03 PM #80718POZParticipantHere is what I have so far: (all suggestions and criticisms are welcome)
I do not take this issue lightly and unlike most of the parties involved I have done due diligence when committing to the decision of writing you this letter. I am appalled and disgusted that a comprehensive housing bailout for gamblers and speculators is even considered. The “Free Market” (In case you needed a reminder) is defined as a theoretical, idealized, or actual market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
Any and all bail-outs including interest rate cuts (fed funds or discount window), moratoriums on foreclosures (which will only prolong the inevitable), unfounded increases of conforming loans, or any other tax funded initiative constitutes a serious Moral Hazard. The irresponsible behavior of buyers, lenders, investors, bankers, and the Federal Reserve (there are more people involved but you get the picture) trying to make something out of nothing. Alchemists had been trying to do for centuries what a few easy monetary policies and some financial savvy engineers could conjure up in a “free market” system. Please do not compound these mistakes by supporting a bail-out for these people unless a clear and irrefutable fraudulent act can be proved in a court of law.
The basic premise is simple, a lot players (the aforementioned participants) gambled and now its time to pay. Corrections are a painful fact of our “free market” system and there are lessons to be learned for all involved. The FUNDAMENTALS taught to us by our parents and grandparents still apply. Having government interfere with the free market system is un-American. Why is it that conservative, informed hard working Americans like myself and many others that did not buy into the speculative mania that preceded this housing problem should have to pay for those mistakes? Why is it that the rest of us are being punished? By not allowing for prices to correct and reach fair market value you are condoning and supporting those very things that you are constitutionally obliged to combat and in the process leaving the rest of us to hanging out to dry, never being able to reach the American dream of home ownership.
Do not give in to big business and special interests, they are the true benefactors of any bail-out plan. I know there is much pressure bestowed upon you to react favorably to those “distressed” individuals and corporations but I see it as your duty as my representative to listen to your constituency and act accordingly
Sincerely
Paulo
August 24, 2007 at 2:39 PM #80580asragovParticipantNo bailout can work – the problem is too big. Many events have already occurred for which there is no “bailout” solution.
Government is too disorganized, and the loans are in too many locations (bank’s portfolios, FNMA, CDO’s, hedge funds, etc. etc).
I am sure that many bailouts will be tried.
We can only hope that the fallout does not affect the rest of us too harshly.
I think that a lot of the people on this site forget that, to a certain extent, we are all in it together. The coming crash in real estate prices will negatively affect the demand for many different goods and services. Hopefully, our livelihoods are not affected, probably only true if you work for the government.
August 24, 2007 at 2:39 PM #80733asragovParticipantNo bailout can work – the problem is too big. Many events have already occurred for which there is no “bailout” solution.
Government is too disorganized, and the loans are in too many locations (bank’s portfolios, FNMA, CDO’s, hedge funds, etc. etc).
I am sure that many bailouts will be tried.
We can only hope that the fallout does not affect the rest of us too harshly.
I think that a lot of the people on this site forget that, to a certain extent, we are all in it together. The coming crash in real estate prices will negatively affect the demand for many different goods and services. Hopefully, our livelihoods are not affected, probably only true if you work for the government.
August 24, 2007 at 2:39 PM #80710asragovParticipantNo bailout can work – the problem is too big. Many events have already occurred for which there is no “bailout” solution.
Government is too disorganized, and the loans are in too many locations (bank’s portfolios, FNMA, CDO’s, hedge funds, etc. etc).
I am sure that many bailouts will be tried.
We can only hope that the fallout does not affect the rest of us too harshly.
I think that a lot of the people on this site forget that, to a certain extent, we are all in it together. The coming crash in real estate prices will negatively affect the demand for many different goods and services. Hopefully, our livelihoods are not affected, probably only true if you work for the government.
August 24, 2007 at 2:51 PM #80586lindismithParticipantYou should send that (or some version of it) to the U-T.
LETTERS TO THE EDITOR
Email: [email protected]
Fax: (619) 260-5081By Mail
San Diego Union-Tribune
P.O. Box 120191
San Diego, CA 92112-0191August 24, 2007 at 2:51 PM #80739lindismithParticipantYou should send that (or some version of it) to the U-T.
LETTERS TO THE EDITOR
Email: [email protected]
Fax: (619) 260-5081By Mail
San Diego Union-Tribune
P.O. Box 120191
San Diego, CA 92112-0191August 24, 2007 at 2:51 PM #80716lindismithParticipantYou should send that (or some version of it) to the U-T.
LETTERS TO THE EDITOR
Email: [email protected]
Fax: (619) 260-5081By Mail
San Diego Union-Tribune
P.O. Box 120191
San Diego, CA 92112-0191August 24, 2007 at 5:38 PM #80786POZParticipantAsragov,
I completely agree that any such effort is an exercise in futility. There is enogh waste of our hard earned tax payer dollars as it is, stop wasting my money is all Im trying to say.
Draft ver2:
Dear Mr. /Mrs. (Representative/ Senator)
I do not take this issue lightly and unlike most of the parties involved I have done due diligence when committing to the decision of writing you this letter. I am appalled and disgusted that a comprehensive housing bailout for gamblers and speculators is even considered. The “Free Market” (In case you needed a reminder) is defined as a theoretical, idealized, or actual market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
Any and all bail-outs including interest rate cuts (fed funds or discount window), moratoriums on foreclosures (which will only prolong the inevitable), unfounded increases of conforming loans, or any other tax funded initiative constitutes a serious Moral Hazard. The irresponsible behavior of buyers, lenders, investors, bankers, and the Federal Reserve (there are more people involved but you get the picture) trying to make something out of nothing. Alchemists had been trying to do for centuries what a few easy monetary policies and some financial savvy engineers could conjure up in a “free market” system. Please do not compound these mistakes by supporting a bail-out for these people unless a clear and irrefutable fraudulent act can be proved in a court of law.
The basic premise is simple, a lot players (the aforementioned participants) gambled and now its time to pay. Corrections are a painful fact of our “free market” system and there are lessons to be learned for all involved. The FUNDAMENTALS taught to us by our parents and grandparents still apply. Having government interfere with the free market system is un-American. Why is it that informed, fiscally conservative and responsible, hard working Americans like myself and many others that did not buy into the speculative mania that preceded this housing problem should have to pay for those mistakes? Why is it that the rest of us are being punished? By not allowing for prices to correct and reach fair market value you are condoning and supporting those very things that you are constitutionally obliged to combat and in the process leaving the rest of us to hanging out to dry, never being able to reach the American dream of home ownership.
Do not give in to big business and special interests; they expect (and in some cases depend) on government interference, they are the true benefactors of any bail-out plan. I understand there is much pressure bestowed upon you to react favorably to those “distressed” individuals and corporations. The fact of the matter is that any hurried response to the housing issue will inevitably end in failure (on taxpayers dime and with nothing to show for it). Do your job; making decisions and formulating any subsequent legislative proposals should be based on cold hard logic not emotion. Emotional wishful thinking was the catalyst that facilitated this situation in the first place. Perform your due diligence, assess and analyze the long term ramifications of the actions you propose on the greater communities you are trying to assist. Affordability and attainability of the American dream for all Americans (not just the few who gambled and lost) should be foremost on your list of objectives. I see it as your duty as my representative to listen to your broader constituency, humbly exercise the power we have bestowed upon you and act accordingly to the benefit of all.Sincerely,
Paulo
again all comments critisisms are welcome.
August 24, 2007 at 5:38 PM #80807POZParticipantAsragov,
I completely agree that any such effort is an exercise in futility. There is enogh waste of our hard earned tax payer dollars as it is, stop wasting my money is all Im trying to say.
Draft ver2:
Dear Mr. /Mrs. (Representative/ Senator)
I do not take this issue lightly and unlike most of the parties involved I have done due diligence when committing to the decision of writing you this letter. I am appalled and disgusted that a comprehensive housing bailout for gamblers and speculators is even considered. The “Free Market” (In case you needed a reminder) is defined as a theoretical, idealized, or actual market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
Any and all bail-outs including interest rate cuts (fed funds or discount window), moratoriums on foreclosures (which will only prolong the inevitable), unfounded increases of conforming loans, or any other tax funded initiative constitutes a serious Moral Hazard. The irresponsible behavior of buyers, lenders, investors, bankers, and the Federal Reserve (there are more people involved but you get the picture) trying to make something out of nothing. Alchemists had been trying to do for centuries what a few easy monetary policies and some financial savvy engineers could conjure up in a “free market” system. Please do not compound these mistakes by supporting a bail-out for these people unless a clear and irrefutable fraudulent act can be proved in a court of law.
The basic premise is simple, a lot players (the aforementioned participants) gambled and now its time to pay. Corrections are a painful fact of our “free market” system and there are lessons to be learned for all involved. The FUNDAMENTALS taught to us by our parents and grandparents still apply. Having government interfere with the free market system is un-American. Why is it that informed, fiscally conservative and responsible, hard working Americans like myself and many others that did not buy into the speculative mania that preceded this housing problem should have to pay for those mistakes? Why is it that the rest of us are being punished? By not allowing for prices to correct and reach fair market value you are condoning and supporting those very things that you are constitutionally obliged to combat and in the process leaving the rest of us to hanging out to dry, never being able to reach the American dream of home ownership.
Do not give in to big business and special interests; they expect (and in some cases depend) on government interference, they are the true benefactors of any bail-out plan. I understand there is much pressure bestowed upon you to react favorably to those “distressed” individuals and corporations. The fact of the matter is that any hurried response to the housing issue will inevitably end in failure (on taxpayers dime and with nothing to show for it). Do your job; making decisions and formulating any subsequent legislative proposals should be based on cold hard logic not emotion. Emotional wishful thinking was the catalyst that facilitated this situation in the first place. Perform your due diligence, assess and analyze the long term ramifications of the actions you propose on the greater communities you are trying to assist. Affordability and attainability of the American dream for all Americans (not just the few who gambled and lost) should be foremost on your list of objectives. I see it as your duty as my representative to listen to your broader constituency, humbly exercise the power we have bestowed upon you and act accordingly to the benefit of all.Sincerely,
Paulo
again all comments critisisms are welcome.
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