subprime solution

bitonti · 04-18-2007, 11:23 AM

wait hold up, is someone in washington making sense?

[url]http://money.cnn.com/2007/04/18/real_estate/foreclosure_bailouts_/[/url]

parafly · 04-18-2007, 11:32 AM

[QUOTE]Refinance loans for victims of predatory lending.[/QUOTE]

This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.

Jetdawgg · 04-18-2007, 11:35 AM

[QUOTE=bitonti]wait hold up, is someone in washington making sense?

[url]http://money.cnn.com/2007/04/18/real_estate/foreclosure_bailouts_/[/url][/QUOTE]

She had better make sense coming from Ohio. I think that only Mich has a worse rate of unemployment and housing woes.

bitonti · 04-18-2007, 11:36 AM

[QUOTE=parafly]People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE]

that may be but what's the cost to society when half of newark gets their houses repossesed?

these predatory lenders aren't always transparent with the deals, yes consumers should be smarter but that's water under the bridge. If this bailout avoids a recession im all for it. no one said people were smart, sometimes the gov't should step in.

Winstonbiggs · 04-18-2007, 11:37 AM

[QUOTE=parafly]This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE]

Clearly there is shared blame here. Not only are customers in default, but the lenders have badly miscalulated as well and are at great risk. I think there is enough blame here to go around.

PlumberKhan · 04-18-2007, 11:59 AM

[QUOTE=parafly]This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE]

[IMG]http://homepage.mac.com/mjsmitho/OneOffs/NelsonHaHa.jpg[/IMG]

[SIZE=5][B]HA HA![/B][/SIZE]

04-18-2007, 11:23 AM	#1
bitonti searching Hall Of Fame Join Date: Apr 2003 Location: Philly Posts: 38,786	subprime solution wait hold up, is someone in washington making sense? [url]http://money.cnn.com/2007/04/18/real_estate/foreclosure_bailouts_/[/url]

04-18-2007, 11:32 AM	#2
parafly so why side with anything? All Pro Join Date: Aug 2006 Location: Colorado Posts: 6,282	[QUOTE]Refinance loans for victims of predatory lending.[/QUOTE] This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.

04-18-2007, 11:35 AM	#3
Jetdawgg All Pro Join Date: Aug 2004 Posts: 6,687	[QUOTE=bitonti]wait hold up, is someone in washington making sense? [url]http://money.cnn.com/2007/04/18/real_estate/foreclosure_bailouts_/[/url][/QUOTE] She had better make sense coming from Ohio. I think that only Mich has a worse rate of unemployment and housing woes.

04-18-2007, 11:36 AM	#4
bitonti searching Hall Of Fame Join Date: Apr 2003 Location: Philly Posts: 38,786	[QUOTE=parafly]People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE] that may be but what's the cost to society when half of newark gets their houses repossesed? these predatory lenders aren't always transparent with the deals, yes consumers should be smarter but that's water under the bridge. If this bailout avoids a recession im all for it. no one said people were smart, sometimes the gov't should step in.

04-18-2007, 11:37 AM	#5
Winstonbiggs Jets Insider VIP Join Date: Aug 2005 Posts: 12,917	[QUOTE=parafly]This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE] Clearly there is shared blame here. Not only are customers in default, but the lenders have badly miscalulated as well and are at great risk. I think there is enough blame here to go around.

04-18-2007, 11:59 AM	#6
PlumberKhan BRACE YOURSELVES FOR 12... Banned Join Date: Feb 2006 Location: Van down by the river Posts: 21,013	[QUOTE=parafly]This statement puts all the blame on the lenders. What ever happened to personal responsibility? In this day and age, becoming more knowledgeable with a minimal amount of internet research goes a long way toward making financially responsible decisions. People that are currently in financial hell because of these subprime mortgages are "victims" of their own stupidity first and foremost.[/QUOTE] [IMG]http://homepage.mac.com/mjsmitho/OneOffs/NelsonHaHa.jpg[/IMG] [SIZE=5][B]HA HA![/B][/SIZE]