bold presidential election prediction (spoiler alert)

[ragged325]

Are you saying we shouldn't hold them to blame at all?

People make bad decisions and we should reward them with a handout? Good idea there Obama

Oh no, don't worry about years of smoking and eating fast food everyday... the government health care plan will take the money of the hard-working people who took care of themselves to pay to keep you going.

So let me ask you this. Let's say I loan you $200K with your Pontiac as collateral knowing that your credit score is 250 and you decide not to repay. Which one of us fucked up?

[rwh11385]

So let me ask you this. Let's say I loan you $200K with your Pontiac as collateral knowing that your credit score is 250 and you decide not to repay. Which one of us fucked up?

FICO scores range from 300 to 850... way to prove you are clueless

[Funkmasta]

So let me ask you this. Let's say I loan you $200K with your Pontiac as collateral knowing that your credit score is 250 and you decide not to repay. Which one of us fucked up?

Well, at least they got the Pontiac. :mrgreen:

[ragged325]

Let's say that I know the loan I gave you is a piece of shit and so I repackage it in a way that makes it impossible to tell what it's worth? I then resell it to a bunch of investors as if it's a valuable security. It's not the homeowners who are getting the bailout.

You're saying the reason we're bailing out these companies is because the people who took out the home loans fucked up?

[Funkmasta]

George fucked up by not re-instituting regulations for kamikaze grey-area-specialty lenders.

Since I don't have a masters degree in economic history, I have nowhere NEAR the ability to put the pieces together needed to know what the best solution is for this mess.

[Funkmasta]

Let's say that I know the loan I gave you is a piece of shit and so I repackage it in a way that makes it impossible to tell what it's worth? I then resell it to a bunch of investors as if it's a valuable security. It's not the homeowners who are getting the bailout.

The homeowners are the end user. They will reap whatever is sewn.

You're saying the reason we're bailing out these companies is because the people who took out the home loans fucked up?

No, it is for the long-term benefit of the people of the USA.

[rwh11385]

You're saying the reason we're bailing out these companies is because the people who took out the home loans fucked up?

If the people who wanted to be home owners and got into the "opportunity" actually paid their mortgages, there wouldn't be any bad eggs to buy or resell. The government is buying up the bad eggs that stink because the expectations of the people who were extended an opportunity were much higher than they should have been. It's not really a bailout, it's the government investing in an instrument which no one in the private world would touch with a ten-foot pole. (But after people learn to move on like some of us have already then they may be worth something, like maybe if people who did take out the mortgages learn to be responsible with money like they should have been before entering into a loan) Going forward, good fucking luck to anyone with modest credit scores to get approved to buy a home.

But of course there are some people who believe FICO / the concept of credit is a scam and wear little tin foil hats and pay everything in cash...

[Aptyp]

As soon as the bailout happens, it will be perfect time for people to buy homes again. I promise you that people that go after those homes, won't be people with good credits.

It's going to repeat as big companies will redistribute that money among smaller lenders. The major reason why these big companies are in trouble today, is because they bought bad loans repackaged for them. They took a risk, and now US government is expected to take that same risk. Unfortunately for debtors, US government has a little more authority than a bank.



For the final thought, Reid is a fucking pushover. He was saying that congress wouldn't approve bailout, then added stupid shit to the bill, and suddenly every one is happy. He's what's wrong with our country.

[rwh11385]

I wouldn't say that. Kids fresh out of college with good credit scores and decent salaries have tons of options with foreclosed homes. The young Republicans are gonna snatch up crazy deals and begin to build their wealth. With money going to equity of a house rather than expense of rent, the divide is gonna be created with the Facebook generation.

[Charlie]

I wouldn't say that. Kids fresh out of college with good credit scores and decent salaries have tons of options with foreclosed homes. The young Republicans are gonna snatch up crazy deals and begin to build their wealth. With money going to equity of a house rather than expense of rent, the divide is gonna be created with the Facebook generation.

Bobby, these are the same "kids" that bought these houses 5-6 years ago "to make a profit", and walked away from the mortgage when they got in over their heads. These are the same kids graduating college, getting a 50k job, and jumping headfirst into debt with a preowned BMW, 60 inch TV and an "investment" house. The foreclosure market looks tempting until you realize that there's no one to buy these houses once they're "fixed up". We've got a glut of homes, and a bunch of people with no money.

Remember, the housing market took a shit from 98-01, and a bunch of people bought "fixer-uppers" to flip. We see how that ended.

-Charlie

[Funkmasta]

not to mention that the recent wave of "remodeled" investment houses are piles of shit/home depot specials

[euroshark]

Without going into who I plan on voting for and why, I just want to say that those of you who actually said that Obama's name bothers you, what the fuck?. I honestly can't see how that is at all relevant. If petty stuff like that is all you can come up with to support your decision, you should probably think twice about voting at all.

[Charlie]

not to mention that the recent wave of "remodeled" investment houses are piles of shit/home depot specials

Ding ding ding.

I've had oh-so-much fun undoing some of the previous owners "remodeling" on this house. Last time I checked, a good level was 10 bucks. I guess that was out of the budget. Duct tape covered by wallpaper also acts as a good corner sealer for sheet rock.

-Charlie

[Funkmasta]

Ding ding ding.

I've had oh-so-much fun undoing some of the previous owners "remodeling" on this house. Last time I checked, a good level was 10 bucks. I guess that was out of the budget. Duct tape covered by wallpaper also acts as a good corner sealer for sheet rock.

-Charlie

Those are the homes that are going to REALLY take the hit in the housing market...

BTW, I don't feel one ounce of sorrow for the greedy investment home-builders that purchased dump houses and band-aided them back together... then got stuck with 4 mortgages. Let them all go bankrupt. Try to make a quick buck, and it just might bite you in the ass.

[kishg]

So Obama's experience with the issues bothers you, but you're okay with this:

http://www.youtube.com/watch?v=VZ9bP_AqHPg

cafferty is right. palin scares the crap out of me.. and i thought you couldn't get worse than dubya! he seems like a genius in comparison. mccain started out on a good platform but he's lost credibility imo. it's going to be close even still, although i think people here are making too much of the "middle america won't vote for a black man" argument. middle america is not that blinkered anymore.