Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts

Saturday, March 28, 2009

Why do people support socialism when they know it's unfair?

People realize that Obama's Spread the Wealth Around" mortgage plan is unfair, but support it anyway. Why?

By a 63 - 30 percent margin Ohioans say the president's mortgage rescue plan is unfair to those who make their payments on time, but 55 percent say they approve of the plan anyway. Given a chance to explain their views, 25 percent say the plan is fair and they support it; 42 percent think it is unfair but support it as necessary and 31 percent think it is unfair and oppose it.


Are citizens being brainwashed by PBS into beatifying modern day Micawbers?

One of the characters in the above Newshour story, Debora Beard, refinanced her house to buy a new car & then stopped making payments. She is complaining that the bank has foreclosed her house & she has joined with ACORN thieves to steal the bank's property. When you mortgage your house, you've basically sold it to a bank. The bankers are being nice by allowing you to remain in the house till you've paid off your debt. This is somewhat symbiotic since, as pointed out in the piece, bankers don't want crack heads to move into abandoned buildings.

The online Newshour video seems to have censored part of the original broadcast story about another equally dubious individual who alleged that the bank falsified her wages & gave her a loan that she couldn't afford to repay. She told the reporter that she hadn't noticed that the wage information on the form that she had signed was incorrect. There was no evidence presented that the bank, and not the customer, was the source of false information. Even if the bank did falsify the woman's wages, one should always read a contract before signing.

At no time did the taxpayer supported PBS people ever deliver the common sense lessons learned from these self inflicted problems:

(1) Plan for worst case scenarios: People lose their jobs, interest rates on loans go up. Plan for these contingencies, you muffin heads.

(2) Read a contract before signing: In case either party makes an advertent or inadvertent error, read before signing, you silly, silly muffin heads.

Why should the sober, rational people who make monthly budgets & live by them be punished in order to reward greedy, irresponsible flighty grasshopper people who attempt to buy houses the size of the Vatican that they can't afford & then remortgage to buy cars that they also can't afford? The anti-social selfish people are the ones who don't live within their means & then demand extortion money from those that do.

Admittedly, Republicans have the unsexy, boring, pedantic, Puritanical platform of personal responsibility and fiscal prudence. Conversely, Democrats have adopted the irresponsibly childish platform of giving cotton candy to their supporters and absolving them of all culpability whilst fanning the flames of class and race warfare.

Saturday, March 7, 2009

Rep Mike Turner (OH 3) supports mortgage bill

Rep Turner (OH 3) obviously didn't receive Kasich's & Rep Boehner's (OH 8) memo that the GOP should oppose mortgage bailouts:

Of the bill’s passage, House Republican leader John Boehner (R-Ohio) said, “Owning a home is the heart and soul of the American Dream, and Republicans believe that we need to help families who acted responsibly stay in their homes. But this legislation doesn’t do that. What it really does is punish those who played by the rules to subsidize those who didn’t. Democrats even defeated a Republican proposal that would have protected taxpayers from bailing out those who lied on their mortgage applications. Taxpayers are fed up with what they are seeing in Washington.”


since Turner supports said bailouts:

U.S. Rep. Mike Turner was one of only seven Republicans Thursday, March 5, to back a controversial bill that would allow judges to reduce mortgage debt for borrowers who file for bankruptcy.


However, Turner supported an amendment that would have required an investigation into this mess, which was voted down:

Also Thursday, Turner pushed a measure that would create a 10-member commission, similar to the 9/11 commission, devoted to rooting out the causes of the mortgage crisis.

The measure made it into the Republican version of the bill, but that version did not pass the House. Still, Turner said he intends to keep pushing the idea.

"As long as there are thousands of abandoned houses in Ohio, this issue is one the country is not going to forget," he said.


Even if Turner's investigation proposal had been successful, a commission established by the Democrats would hardly have been non-partisan and impartial, just more kabuki theater & flogging the same socio-economic class enemies.