LeftHander
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Tue Sep-30-08 10:48 AM
Original message |
Once the banks have the bailout....YOU are next... |
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They will come to you for their profit...as the Repukes changed the bankruptcy laws to be more in line with personal responsibility ownership society.
People will be paying for lost homes, foreclosed and sold for decades to come.
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GetTheRightVote
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Tue Sep-30-08 10:50 AM
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1. No Bailout for the Fat Cats. |
GetTheRightVote
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Tue Sep-30-08 10:50 AM
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2. No Bailout for the Fat Cats. |
ixion
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Tue Sep-30-08 10:50 AM
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3. just one of the reasons I don't support a bailout |
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banks wouldn't even consider reciprocating.
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snappyturtle
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Tue Sep-30-08 10:59 AM
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4. Yesterday afternoon NPR reported that for every 30 home owners |
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who went to their banks to seek relief, re-write, lower interest whatever, only 1 got any help. That is what just doesn't make sense. Why would a bank rather have mortgage default than saving their investment by working with the owner?
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tazkcmo
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Tue Sep-30-08 11:08 AM
Response to Reply #4 |
AndyA
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Tue Sep-30-08 11:15 AM
Response to Reply #4 |
7. This is exactly right. |
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Banks don't HAVE TO raise interest rates, mortgage payments, or foreclose on owners. BUT THEY DO. And when they do, they know most often that the mortgage will become a bad debt that isn't collectible.
It makes no sense to me whatsoever. They take a homeowner, who has been making $1,000/month payments, and raise their interest rates and monthly payment to a point where that homeowner can no longer pay it. Then, when the homeowner defaults, they foreclose which costs money, and they get NOTHING.
The industry is responsible for this mess, and they want the tax payers, the same people they've been abusing, to bail their sorry asses out.
Forget it.
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snappyturtle
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Tue Sep-30-08 12:29 PM
Response to Reply #7 |
8. The banking industry handled mortgages like the "Old Maid" |
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children's card game. Just pass it on and let someone else get stuck with it!
They gamed the system until it broke and are most likely figuring out a new game, as we speak, while awaiting the bailout. Evil is as evil does.
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Union Thug
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Tue Sep-30-08 11:11 AM
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6. Ask me about a repoed car. I can't imagine dealing with |
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Edited on Tue Sep-30-08 11:12 AM by Union Thug
a repoed house!
Car is auctioned off - who gets handed the bill for the differential between money owed and money recovered?
Have fun everyone. The bankruptcy bill was one of the great lost battles of the class war.
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DU
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Wed May 08th 2024, 03:46 AM
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