Ron Paul Video - The Mother of all bailouts

[dc dalton]

Good video explaining this new housing bill that passed yesterday by Ron Paul.

Think this is a good thing? Try again:

http://news.goldseek.com/RonPaul/1216926862.php

BTW, the real 'gotcha' in the bill ... the national debt ceiling has been moved up to 800 BILLION

[PisnNapalm]

I think this bailout is a mistake.

Yes it will be painful to let things go but propping it up with more national debt is not going to solve this. I believe that in the long run this "bailout" will hurt more than help. People and banks have to be held accountable for their mistakes.

[mikepro8]

Originally Posted by PisnNapalm

I think this bailout is a mistake.

Yes it will be painful to let things go but propping it up with more national debt is not going to solve this. I believe that in the long run this "bailout" will hurt more than help. People and banks have to be held accountable for their mistakes.

I agree 100%

[mojo]

+1 (mistake)

(10 characters)

[dc dalton]

Originally Posted by PisnNapalm

I think this bailout is a mistake.

Yes it will be painful to let things go but propping it up with more national debt is not going to solve this. I believe that in the long run this "bailout" will hurt more than help. People and banks have to be held accountable for their mistakes.

Couldn't agree more and there are two groups that really should not be helped:

1. I think a lot of these mortgage brokers should be charged with fraud. These huge mortgage companies made billions with falsified documents, they knew damn well these mortgages were 'poison' but they held their giggles and approved them and then passed them off to the brokerage houses. Why should we reward this type fraud with a bailout!

2. The people that took these 'no doc' loans and or lied about their income. They knew damn well they couldn't afford the house so why should they be allowed to keep it via a government bailout? And this crap about 'I didn't know the rates would go up that high?' ... oh please, if you are too stupid to read a mortgage contract and know what the rates are going to be in 2 or 3 years then again you don't deserve to be bailed out! Now I do NOT lump those people in that were lied to by a broker .... at that point the broker is the criminal.

The only group I think should get any kind of help (and I don't think a total bailout is help) are those that have been effected by recent unemployment due to the economy and the housing market crash. If their previous job(s) covered their mortgage and some unknown incident then caused their income to plummet then maybe their mortgage company should work with them to get them through their brief problem time. But again, a bailout with OUR tax money? Nope don't think so.

If the government wants a bailout how about they get the money from these companies that made trillions off of bad loans for 10+ years. These brokers and mortgage sharks lived the good life for many many years off paper they knew damn well was worthless and now they whine like children because they can't afford their billion dollar bonuses .... sorry, no sympathy here.

[Dredly]

Well said Dalton and I agree 100%

[D-FENS]

Originally Posted by dc dalton

Good video explaining this new housing bill that passed yesterday by Ron Paul.

Think this is a good thing? Try again:

http://news.goldseek.com/RonPaul/1216926862.php

BTW, the real 'gotcha' in the bill ... the national debt ceiling has been moved up to 800 BILLION

My understanding is that the national debt ceiling is at 9.8 Trillion dollars. It was recently raised by W. We're currently right above 9 Trillion national debt with a few billion more before we reach our cap. Either way, it's WAY WAY WAY too high. not to mention, that only includes current debt and not committed debt. With committments to SS and Medicare, we're looking in the 10s and 10s of trillions of dollars.

As for who this bailout helps. NOT YOU!!! A small portion goes to assist dumbasses that bought at severely inflated prices and with variable interest rates in severely affected areas. The vast majority of that money goes into the pockets of the rich. Don't be fooled. They're taking your future earnings and giving it to the already rich so they stay rich and don't have to take on the risk of their ravenous investing.

Smart Tax-Payer -300,000,000,000
Dumbass Borrower 1
Rich Executives 299,999,999,999

[Mtn Jack]

Yea worked my ass off to pay my farm off in 15 years, but did it in 12. Dont feel like paying for some jokers mistake. No one ever offered me any help screw them. They should try being honest with them selves. Rant off

[ThoughtCriminal]

This is only going to delay the inevitable. It will also make that inevitable much worse when it comes.

[Broomhandle]

Thanks dc for that link, good (albeit depressing) stuff. I miss seeing Ron Paul on TV. I hope he speaks at the convention.

I originally posted this in the Lounge but here is a link to an entertaining story you can listen to on-line about how this mortgage mess got started. Comes from a liberal news source but still pretty fair.


http://www.pafoa.org/forum/lounge-10...tml#post315832