plus everyone seems to forget that it;s our money that's going to the bailout. I am paying for other people's mortgage to be adjusted down. The fact that I am not eligible for this benefit, and only foot the bill pisses me off.
Bailout guarantees Goldman CEO 70M salary
- Thread starter andrasnm
- Start date
i dont see any problem with people doing whats in their own best interest. If walking away make sense, why not? Its not like everyone else isn't cheating/getting bailed out/etc. I've been a renter for a years so I don't have skin in housing, but it makes no sense to be responsible when everyone else isn't. Its the people who are acting responsibly and trying to do the right thing that are getting screwed.. HARD. I don't agree with this countries policies, but I can hardly fault someone for doing whats right for themselves and their family, especially since the government give .02 cents about the citizens.
If the counterparty (lender) was willing to give the guy a free call option, why shouldn't he take it. This whole country is only doing stuff that benefits the speculators/gamblers, not the responsible people. Ie if you put money down or have equity your screwed.. if your option-arm'd.. well then they'll try to help you to stay in that house!
Its totally hypcrocisy to expect everyone around you to cheat, steal and lie and expect you to be ethical and honest. More importantly, the people who have been trying to do the right thing (like me, living beneath my means, not option-arming into a house I can't afford) are the bag holders. I'm paying for a bailout of people I know who option-arm'd and leased everything.. who's going to make me whole for living a substandard existence since I did the right thing? No one, in fact, we're going to tax me the help the guy stay in the house I should have been able to buy for a lot less.
Sigh
If the counterparty (lender) was willing to give the guy a free call option, why shouldn't he take it. This whole country is only doing stuff that benefits the speculators/gamblers, not the responsible people. Ie if you put money down or have equity your screwed.. if your option-arm'd.. well then they'll try to help you to stay in that house!
Its totally hypcrocisy to expect everyone around you to cheat, steal and lie and expect you to be ethical and honest. More importantly, the people who have been trying to do the right thing (like me, living beneath my means, not option-arming into a house I can't afford) are the bag holders. I'm paying for a bailout of people I know who option-arm'd and leased everything.. who's going to make me whole for living a substandard existence since I did the right thing? No one, in fact, we're going to tax me the help the guy stay in the house I should have been able to buy for a lot less.
Sigh
A-fucking-men to that. I'm so sick of all these jerks who were gloating so obnoxiously when their home equity was positive now expecting the public to guarantee their investment when it went underwater
fuck every single one of them
it's not the publics responsibility to guarantee them a profit!!!!
Quote from empee:
i dont see any problem with people doing whats in their own best interest. If walking away make sense, why not? Its not like everyone else isn't cheating/getting bailed out/etc. I've been a renter for a years so I don't have skin in housing, but it makes no sense to be responsible when everyone else isn't. Its the people who are acting responsibly and trying to do the right thing that are getting screwed.. HARD. I don't agree with this countries policies, but I can hardly fault someone for doing whats right for themselves and their family, especially since the government give .02 cents about the citizens.
If the counterparty (lender) was willing to give the guy a free call option, why shouldn't he take it. This whole country is only doing stuff that benefits the speculators/gamblers, not the responsible people. Ie if you put money down or have equity your screwed.. if your option-arm'd.. well then they'll try to help you to stay in that house!
Its totally hypcrocisy to expect everyone around you to cheat, steal and lie and expect you to be ethical and honest. More importantly, the people who have been trying to do the right thing (like me, living beneath my means, not option-arming into a house I can't afford) are the bag holders. I'm paying for a bailout of people I know who option-arm'd and leased everything.. who's going to make me whole for living a substandard existence since I did the right thing? No one, in fact, we're going to tax me the help the guy stay in the house I should have been able to buy for a lot less.
Sigh
"No one, in fact, we're going to tax me the help the guy stay in the house I should have been able to buy for a lot less."
i understnad that all to well
and it pisses me off to no end
the housing bubble made it difficult to make a wise decision on housing
the mortgage bailout, makes it impossible, because if you made a correct decision, they change the rules after the fact to make you lose again
At least we get 5% on the preferred stock deal with the banks.
Of course, Buffet got 10% in his deals, but he was wheeling/dealing with the best interest of Berkshire stockholders in mind.
Funny how rare that comment is, but how effective the results would be. That solution only works collectively, and we're a selfish society. The Man knows this, and plays us against ourselves.
Why is it that the best minds in government couldn't extract a better deal from this situation? Berkshire got a better deal with a non-desperate bank than the taxpayer was able to get from banks with no options left. Maybe part of the answer is Warren's brains, but more likely motivation. Taxpayer equity just isn't worth as much as Berkshire equity.