Who are the dupes now?

[torredcuda]

I won`t argue that Frank and some of the Dems are responsible for the legislation but some of the blame goes directly on the banks and the poeple taking out mortgages with adjustable rates and/or payments they couldn`t afford.Also not all our economic problems are housing,not having jobs is a biger issue.

[whitesatinmopar]

I won`t argue that Frank and some of the Dems are responsible for the legislation but some of the blame goes directly on the banks and the poeple taking out mortgages with adjustable rates and/or payments they couldn`t afford.Also not all our economic problems are housing,not having jobs is a biger issue.

Take it a step further Jeff, a bank that was willing, even many times with no down payment, to write such bad/risky loans ought to be the one "eating" them when they go default. It was almost like banks were getting incentive money for writting these loans. Then they want bail out money, money that comes from the general tax paying population. Now you and I are paying the banks for these loans through tax revenues. Yes I blame the homebuyer in some of these cases, but the banks should not have wrote many of them either. But your spot on when loss of jobs are the contributing factor. Go back to the NAFTA agreement, how many companies sent thousands of jobs out of the country? If they got operational cost incentives such as tax abatements from the government they should not receive any further relief, and that could include auto makers...............?  It's a big mess the working public will pay for, but got nothing and will receive nothing in return. And the line of business will continue to grow with their hands out for more relief money.    

[grimmey71]

this video clip does not go into to it but a huge part of the problem is that banks were FORCED to lend money to high risk  borrowers...which started with Carter and was increased with Clinton. Suprise..high risk is still high risk! Understanding the cause of why the wheels of th eeconomy fell off shoul help us prevent future accidents..I hope. but the frustrating thing is when no one will fess up to anything

http://www.youtube.com/watch?v=0pk--Ox49L0

and now where our money will or wont go

http://www.youtube.com/watch?v=duQDVTczGbA&feature=related

people who never worked a real job..balanced a check book with finite funds,  and they keep us too busy working to dig deep to find the truth.

http://www.youtube.com/watch?v=opxuUj6vFa4&feature=related

but the biggest problem, in my opinion is that

http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related

the big goverment dems cant run a lemonaide stand want to run the economy, then set up the financial crisis dominos. the small goverment republicans want more control and regulations instead of just getting the goverment out of it all together.

one more listen as talk of knowing about more defaults on home loans.

http://www.youtube.com/watch?v=ivmL-lXNy64&feature=related

[Grancoupe]

Can someone clue me in on this. I always felt the beginning of the end was NAFTA. Take away people's jobs and that's it. Stimulus packages and tax breaks only look good on paper. Employed people in meaningful productive careers are what will bring our economy back. NAFTA hit the middle class in a bad way and I believe is the middle class that has always floated the rest. Gov't supports the lower class with middle class money and absorbs the tax breaks the rich are capable of using through middle class money.
Many of the issue I see on the boards today only reflect only a few years ago. NAFTA is responsible for outsourcing just about every trade that doesn't involve personally being there.
I can't recall anything prior to NAFTA that put us in a more compromising position aside from foreign dependence on oil and so on. But NAFTA has affected just about every trade out there is a negative way.
What do you think?

[BIGSHCLUNK]

I'm w grimmey on allot of this. We had folks here in town that owned as many as eleven properties. They, by any reasonable standard (the ones I've had to follow for mortgage loans) didn't qualify for the first one let alone the others. We had allot of newspaper and media coverage on this awhile back. Multiply this going accross the country. I don't need a degree in mathamatics to figure this out.



There is a revolution brewing here people....................................

[Bullitt-]

I don't need a degree in mathamatics to figure this out.



There is a revolution brewing here people....................................

I'm with ya Bigs...time for another tea party

[grimmey71]

Can someone clue me in on this. I always felt the beginning of the end was NAFTA. Take away people's jobs and that's it. Stimulus packages and tax breaks only look good on paper. Employed people in meaningful productive careers are what will bring our economy back. NAFTA hit the middle class in a bad way and I believe is the middle class that has always floated the rest. Gov't supports the lower class with middle class money and absorbs the tax breaks the rich are capable of using through middle class money.
Many of the issue I see on the boards today only reflect only a few years ago. NAFTA is responsible for outsourcing just about every trade that doesn't involve personally being there.
I can't recall anything prior to NAFTA that put us in a more compromising position aside from foreign dependence on oil and so on. But NAFTA has affected just about every trade out there is a negative way.
What do you think?

click the video for the percentage of taxes the rich pay(the w-2 wtf) its enlightening..and this is a decent site for info too.  I am going to assume most of us here are middle class.  When talking about the rich let remember we have no claim on anothers man's property(income) as we have no claim on his life. To the same as no man (from low income)should have a claim on our life. 

An since its Easter remember the proverb about being envious of unearned wealth
http://reason.com/blog/show/132837.html

[grimmey71]

I'm with ya Bigs...time for another tea party

http://taxdayteaparty.com/teaparty/michigan/

[Katfish]

Funny we are now finding out just how many Dems have a problem paying their taxes.  Obama can't even fill his cabinet, if the Republicans had been this bad the media would have never let it go.

I guess paying taxes and being "patriotic" is for the other guy.  We get what we deserve if we keep voting these people in.

[lemming303]

As much as I hate to say it this country is a mess. The older I get the more crap I see that goes on (I'm only 27, but I've been all over the world and spent a year and a half in the desert). Obama is a freaking moron. People thought Bush was bad, this guy is the worst.

And getting in front of Turkey, a Muslim country, and saying the the US isn't a Christian Country? We will all pay for that, just watch.

We have people who believe that Al Gore invented the internet, that Global Warming is real, and that Obama is not trying to turn this country into a Socialism. I hope things turn around.

[heminut]

Another thing everyone needs to be aware of is the interest on your credit cards. The fine print on every one reads that the bank can raise the rates at any time for any reason. Chase Bank has a class action lawsuit in the works against them for raising rates on customers that had guarantied rates. I have a Bank of  America card that was 12.99 fixed that I just got a notice on. They are raising the rates to a variable rate of 28.99!   Now, I have never been late on a payment and have a very good credit score, so why are the banks doing this? Congress just passed a bill making it against the law for banks to do this, but in their infinite wisdom it doesn't go into effect until July 2010! With this not going into effect for another 14 months the banks are going to rape the consumer as much as they can before it takes effect. I'm fortunate in that I can pay this card off and not put up with this crap, but a lot of folks are gonna take it in the shorts because of this BS! I certainly won't have another credit card. The banks are going to make the public pay for their mistakes however they can, and the politicians are letting them do it!

[bb71challenger]

With all our tax money that is floating in their tills, the banks ought to give us a lower finance rate, not a higher one. I am down to one card and in about a year it will be gone. American Express is about the only card company I deal with but then again its not really credit, you have to pay it off every month.