Villains in the Mortgage Mess? - Page 6 - Political Fever

Michael · #51 (**permalink**) 06-10-2008, 02:23 PM

And the lenders also new the risk of unsecured loans but went ahead due to greed and the thought of all those future high interest payments those suckers, er customers, would have to pay.

Space_Coyote · #52 (**permalink**) 06-10-2008, 02:28 PM

Quote:

Originally Posted by Birdzeye

That assumes that there is healthy competition in the economy, that you have other tomato growers ready to compete with you for customers and will offer their tomatoes at a lower price to lure those customers. It also assumes that the tomatoes are not a necessity, so that the consumer can walk away and choose not to buy tomatoes.

It isn't that way with gasoline. It's a necessity in our society, what with people living 20+ miles from work, often with no public transportation between home and office. Competition seems nonexistent in that market as well, unless you consider one station charging pennies less than the one own the street, LOL.

There's something fundamentally bankrupt with the system, and all those conservatives who profess to have "values" have been strangely silent about the raid on consumers' wallets at the gas pump.

You are still abdictating responsibility for your own actions and the actions of other people. How many people suffering from high gas prices also have credit card debt? A barely-affordable mortgage payment? A payment on a new car? Oil is a necessity for some people's economic stability......so? My economic stability relies on consumer electronics, does that mean the electronics market should also have a profit cap? Of course not. Companies are designed to make money, and if you don't like the price of gas, tell your Congressman to sponsor legislation opening up domestic drilling.

Space_Coyote · #53 (**permalink**) 06-10-2008, 02:30 PM

Quote:

Originally Posted by Michael

And the lenders also new the risk of unsecured loans but went ahead due to greed and the thought of all those future high interest payments those suckers, er customers, would have to pay.

Yeah, and those banks that made those risky loans don't deserve to be bailed out by the government, why do the borrower apologists continue to use this tactic? I don't want ANYBODY to be bailed out, period. At least I'm consistent; how many of you people want to bail out the banks as well?

Temperature 451 · #54 (**permalink**) 06-10-2008, 02:34 PM

Quote:

Originally Posted by Space_Coyote

Yeah, and those banks that made those risky loans don't deserve to be bailed out by the government, why do the borrower apologists continue to use this tactic? I don't want ANYBODY to be bailed out, period. At least I'm consistent; how many of you people want to bail out the banks as well?

First you accuse people of "abdicating responsibility for the actions of other people," then you claim not to want anybody bailed out.

You call THAT "consistent?"

Michael · #55 (**permalink**) 06-10-2008, 02:53 PM

We are playing the blame game. In the mean time, what needs to be done. And I still have to use the big bad "R" word - Regulation. Lending agencies should flat out not have the option to use loan shark strategies, period. While I don't support widespread regulation, there are basic goods and services that will impact the economy to the point of recession or drive inflation upward to the point that the working poor and elderly can no longer survive.

So I would say loaning agencies need regulation in the same say electricity needs some regulation to prevent Enron style exploitation and oil needs to be taken off of the stock market for wild speculation.

AnnEsthesia · #56 (**permalink**) 06-10-2008, 03:45 PM

Quote:

Originally Posted by Space_Coyote

I'll stop just as soon as you stop telling oil companies what THEY need, ok?

What exactly is the difference between me telling you what you should reasonably have and you telling oil companies what they should reasonably have?

*gag* Yes. You telling me you know me better is SO the same as my saying we should look at how they are gouging the prices. Yep. Just the same.

Could you be an more ridiculous? No... don't answer that. I am sure you can.

Space_Coyote · #57 (**permalink**) 06-10-2008, 04:11 PM

Quote:

Originally Posted by Temperature 451

First you accuse people of "abdicating responsibility for the actions of other people," then you claim not to want anybody bailed out.

You call THAT "consistent?"

Yeah, I do. The abdictation of responsibility in the hopes of a government bailout is exactly that. I don't know that any of you are Congressmen (though you could be, and are thus further wasting tax dollars), so none of you want the irresponsibility of the borrowers and lenders to be the fault of......the borrowers and lenders. Nice try though.

You didn't answer the question:

Are you willing, in addition to bailing out borrowers, to spend the millions (perhaps billions) of dollars necessary to bail out the lenders as well?

Temperature 451 · #58 (**permalink**) 06-10-2008, 05:36 PM

Quote:

Originally Posted by Space_Coyote

Yeah, I do. The abdictation of responsibility in the hopes of a government bailout is exactly that. I don't know that any of you are Congressmen (though you could be, and are thus further wasting tax dollars), so none of you want the irresponsibility of the borrowers and lenders to be the fault of......the borrowers and lenders. Nice try though.

Not what you said originally. You expect people to take responsibility for other people's actions. You expect the non-SUV owners to take responsibility for the actions of SUV buyers. You expect the laid off to take responsibility for the actions of crooked mortgage brokers. In short, you obviously expect everyone BUT YOURSELF to take responsibility for all that's wrong with the world.

Nice try, though.

Quote:

Originally Posted by SpaceyMutt

You didn't answer the question:

Are you willing, in addition to bailing out borrowers, to spend the millions (perhaps billions) of dollars necessary to bail out the lenders as well?

Whether I'm willing to or not is irrelevant. It happens to be Federal law. Next.

Space_Coyote · #59 (**permalink**) 06-10-2008, 05:55 PM

Quote:

Originally Posted by Temperature 451

Not what you said originally. You expect people to take responsibility for other people's actions. You expect the non-SUV owners to take responsibility for the actions of SUV buyers. You expect the laid off to take responsibility for the actions of crooked mortgage brokers. In short, you obviously expect everyone BUT YOURSELF to take responsibility for all that's wrong with the world.

Nice try, though.

So we should have different gas and home prices for responsible people? What you say makes no sense.

Quote:

Whether I'm willing to or not is irrelevant. It happens to be Federal law. Next.

Way to dodge the question, again. If you're going to act like a six year-old, just leave the discussion and let the grown folks talk.

Temperature 451 · #60 (**permalink**) 06-10-2008, 05:59 PM

Quote:

Originally Posted by Space_Coyote

So we should have different gas and home prices for responsible people? What you say makes no sense.

Hey, theoretically we already DO have different home prices for responsible people. It's called a credit rating. If you think that makes no sense, try to survive in this country without ever using credit.

Quote:

Originally Posted by SpaceyMutt

Way to dodge the question, again. If you're going to act like a six year-old, just leave the discussion and let the grown folks talk.

Maybe you should take your own advice on that one.

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