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Thread: subprime solution

  1. #1
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    subprime solution

    wait hold up, is someone in washington making sense?

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

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    [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.

  3. #3
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    [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.

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    [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.

  5. #5
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    [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.

  6. #6
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    [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]


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