| [~ MG_Metalgoddess~] Monday, March 23, 2009 6:55:34 PM | |
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Good eve Ladies and Gents, of the Metal Family!!!!! Monday is over thank god!!!!!
How is everyone .. Did we all survive this lovely day??? LOL
Okay where the HELL is Necro I wanted a stray Kitty report... !! LOL |
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| [Head banger] Monday, March 23, 2009 6:22:34 PM | |
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in some of this the banks were actualy forced into the loans to make themself look like they didnt discriminate. people of lower income tended to be minorities, so "liberals" asked for more loans to be made.
in the Japanese crisis of the 90's people had 80 year mortgages. WTF?? I hated signing a 25 year note.
yes the banks could have known some of it, but not all of it. its hard to forecast. and when people lose their jobs, they need to plan a cushion. if I lost my job, I could go 90 days with 0 income
you need savings
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Monday, March 23, 2009 5:47:13 PM)| |  | _strat_ wrote: | | Well, rights and wrongs... Sooner or later, for better or for worse, those "flowery rights and wrongs" will be all that matters, since people - stupid or smart, guilty or innocent - that have been tossed into poverty will have enough, and then you will have a social and a political crisis on top of the economic one. If you havent already - we do and we arent even officialy in a reccesion yet! And then we come to the plain and simple fact that this is not just a current crisis of the economy, but a crisis of the system, that will (hopefully) end the two decades of neo-liberal wet dreams.
Now, with banks, its obvious that we have two very different ways here - as I said, over here, youre NOT going to get a loan just by steping into a bank. You couldnt even before the crisis. That was the whole problem here for years (and its only worse now). People just couldnt get a loan, unless they could offer good guarantees that a loan can be repayed. The banks demanded guarantees in real estate, shares... anything that can be bought and sold. When I read from you, about how Americans could take loans where payments exceeded their wages by two times or more, I could hardly believe it. And I agree on that much at least, that in your case, much of the blame is on the people who took those loans. Although, I can still hardly believe that there would be so many such morons to start a crisis like we have now.
And in the end... Banks hold the money. Banks, private or state owned, have a lot of responsibility for the wealth of the society. How come they couldnt predict what would happen if they continue with the policy they had? With all the experts they have? They do have a lot of blame. Because, in the end, it remains that most of the wealth is held by a very small minority of people. Be it in my country, your country, or globaly. And they hold the greatest amount of responsibility for this crisis.
| | | Deep Freeze wrote: | | Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.
YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)
There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.
| | | _strat_ wrote: | | Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [Deep Freeze] Monday, March 23, 2009 6:01:57 PM | |
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HA!!!!!!!!!! As I said, it is far more complicated than what we can get into here on the Board. There were many that said something about the impending crisis but GREED speaks louder, my friend. And I was not looking to assign a degree or level of blame, I was pointing out how sick I am of the media portraying banks as the lone evil. They are not. Period. No matter what form of social belief you hold true, irresponsibilty remains unacceptable. Shows like Dateline just love to exploit the already skewed sense of fault that permeates this entire, sordid mess.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Monday, March 23, 2009 5:47:13 PM)| | | _strat_ wrote: | | Well, rights and wrongs... Sooner or later, for better or for worse, those "flowery rights and wrongs" will be all that matters, since people - stupid or smart, guilty or innocent - that have been tossed into poverty will have enough, and then you will have a social and a political crisis on top of the economic one. If you havent already - we do and we arent even officialy in a reccesion yet! And then we come to the plain and simple fact that this is not just a current crisis of the economy, but a crisis of the system, that will (hopefully) end the two decades of neo-liberal wet dreams.
Now, with banks, its obvious that we have two very different ways here - as I said, over here, youre NOT going to get a loan just by steping into a bank. You couldnt even before the crisis. That was the whole problem here for years (and its only worse now). People just couldnt get a loan, unless they could offer good guarantees that a loan can be repayed. The banks demanded guarantees in real estate, shares... anything that can be bought and sold. When I read from you, about how Americans could take loans where payments exceeded their wages by two times or more, I could hardly believe it. And I agree on that much at least, that in your case, much of the blame is on the people who took those loans. Although, I can still hardly believe that there would be so many such morons to start a crisis like we have now.
And in the end... Banks hold the money. Banks, private or state owned, have a lot of responsibility for the wealth of the society. How come they couldnt predict what would happen if they continue with the policy they had? With all the experts they have? They do have a lot of blame. Because, in the end, it remains that most of the wealth is held by a very small minority of people. Be it in my country, your country, or globaly. And they hold the greatest amount of responsibility for this crisis.
| | | Deep Freeze wrote: | | Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.
YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)
There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.
| | | _strat_ wrote: | | Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [_strat_] Monday, March 23, 2009 5:47:13 PM | |
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Well, rights and wrongs... Sooner or later, for better or for worse, those "flowery rights and wrongs" will be all that matters, since people - stupid or smart, guilty or innocent - that have been tossed into poverty will have enough, and then you will have a social and a political crisis on top of the economic one. If you havent already - we do and we arent even officialy in a reccesion yet! And then we come to the plain and simple fact that this is not just a current crisis of the economy, but a crisis of the system, that will (hopefully) end the two decades of neo-liberal wet dreams.
Now, with banks, its obvious that we have two very different ways here - as I said, over here, youre NOT going to get a loan just by steping into a bank. You couldnt even before the crisis. That was the whole problem here for years (and its only worse now). People just couldnt get a loan, unless they could offer good guarantees that a loan can be repayed. The banks demanded guarantees in real estate, shares... anything that can be bought and sold. When I read from you, about how Americans could take loans where payments exceeded their wages by two times or more, I could hardly believe it. And I agree on that much at least, that in your case, much of the blame is on the people who took those loans. Although, I can still hardly believe that there would be so many such morons to start a crisis like we have now.
And in the end... Banks hold the money. Banks, private or state owned, have a lot of responsibility for the wealth of the society. How come they couldnt predict what would happen if they continue with the policy they had? With all the experts they have? They do have a lot of blame. Because, in the end, it remains that most of the wealth is held by a very small minority of people. Be it in my country, your country, or globaly. And they hold the greatest amount of responsibility for this crisis.
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 2:11:51 PM)| | | Deep Freeze wrote: | | Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.
YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)
There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.
| | | _strat_ wrote: | | Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [Becks] Monday, March 23, 2009 2:42:49 PM | |
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Good morning metal family!  thought I'd pop in before I take the dog for a run lol.
Freeze, I agree, some people are digging themselves a hole at the moment by signing up for things which they don't understand. I'm not financially minded at all (as in I have trouble understanding numbers lol) but my husband is, so he has to be there if something is going on with financial things. We get some doofuses over here who take out 100% mortgages! I have no clue how they do that, in my mind, if you can't save up a deposit in the first place, how on earth will you make the repayments?! We are trying to save for a deposit cos the market here is good for buyers at the moment, and we just want our own home, but we'll see how the financial situation is by the end of the year. The job market is difficult at the moment, so I am having a lot of trouble finding a job  even with a science degree. It sucks.
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 2:11:51 PM)| | | Deep Freeze wrote: | | Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.
YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)
There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.
| | | _strat_ wrote: | | Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [Deep Freeze] Monday, March 23, 2009 2:11:51 PM | |
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Exactly, HB!
Strat my friend, this is NOT a debate over the "oh so flowery rights and wrongs" of proper lending or borrowing. This is a stark reality, man. You should NEVER sign ANYTHING which you do not understand. Moreover, I do not care if "god" himself tells you that you can "afford it", any rational, thinking human being can see that income is "x" and outgo is "y". There is no other formula to justify it.
YES! Banks expect you to repay,usually. In the case of our current "crisis", it was not an important part of the lending process because loans were put into 'pools' that were sold as "Mortgage Backed Securities" on Wall Street. Banks were not expecting to actually collect the debt as they would in a normal mortgage loan. So, you see this is NOT a simple "percentage" or loan repayment or any of that. As I mentioned way back in our previous discussion on loans and interest, it is FAR more complicated than that. I could explain it but it would be a FAR BIGGER post than even this one is and it will make NO sense to you. (You are welcome to PM me if you would like a more detailed lesson)
There is plenty of blame to go around but very little responsibility. I am just sick of the banks getting hammered in the media as some evil, demonic force that have possessed otherwise good and decent people and ruined their lives. BAH!! Stupid people should NOT own homes. They are better off renting and being told what to do.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Monday, March 23, 2009 10:53:54 AM)| | | _strat_ wrote: | | Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [Head banger] Monday, March 23, 2009 1:38:01 PM | |
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strat. postal is a phrase about workplace shootings
if people had a job, and a plan, then they loose their job, thats one thing. if you work somewhere that sounds insecure, dont borow money.
people in the states took loans with escalating payments, like 1000/month year one, 1200 year 2 and so on. how the fuck did they think they were going to pull all that money out of a hat. |
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| [Justin Kenny] Monday, March 23, 2009 12:17:32 PM | |
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Hey y'all.....wha's haaaa-aaapp'nin'???
Dig it...woke up late as a sumbitch on Friday morning....neither the wife nor I heard that clock go off until 6:43am. Needless to say, I was very late for work, and opted instead of making the trek in to use a 'sick' day...(LOL..yeh..sick my ass...more like sick of TCAT's bullshit). So, I spent Friday, Saturday and Sunday to my advantage, and helped Peggy get her daycare further along. We're almost there too....the room itself is DONE...all that there's left to do is decoration, and Peg's got that market cornered. I built new shelves for the pantry closet in the kitchen, put trim up along the bottoms of the walls (those that needed it, that is), and on Sunday, Peg and I tore down a wall between the daycare and the hall that connects to the kitchen...it actually leads closer to the bathroom itself, which will serve to be most advantageous when her little clientelle needs to "...go potty." We're digging how it looks, and once whatever touch-ups are finished (nothing more than a little wall plaster, some sanding and a smidge of paint where it all belongs), it's golden. The weekends to come will more than likely be devoted to taking the wood pallets we've gathered and fashioning fence segments out of them so we can better keep the wee ones corralled if/when they go outside to play. This has been quite the undertaking, but it's all gonna be worth it...  |
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| [~ MG_Metalgoddess~] Monday, March 23, 2009 11:54:54 AM | |
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Okay Family, Iam just having way to much fun on this monday!!!!!! LOL
I must get some work done... Talk to you all later...
Hugs MG~ |
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| [K2M] Monday, March 23, 2009 11:48:04 AM | |
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Fantastic. THat is the way to do it. MMMM.
[Show/Hide Quoted Message] (Quoting Message by joedraper from Monday, March 23, 2009 10:20:13 AM)| | | joedraper wrote: | | hello fellow defenders!!!
Wow what an amazing morning I had! Craig bought a new motorcycle (I'll post pics soon) So this morning we said screw it and took a cruise up to a little town and had a breakfast and then took a cruise back again. It's been years since I was last on a motorcycle and it was so fun.. We should have done this ages ago lol.
It's a bit big for me to hold up so I'm now in the market looking for a 300 or 200 but we'll see what happens.. maybe I'll grow some extra muscles and manage this one lol.. until then.. I'm happy to ride shotgun lol. |
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| [~ MG_Metalgoddess~] Monday, March 23, 2009 11:06:24 AM | |
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Oh yes I agree with you completley on the credit card issue.... I do not make a purchase on my credit card unless I know I have the money in the bank to pay in FULL.... at the end of the month...... Because I go through a on-line travel agency... But non the less... I have a credit card with a 50,000 limit on it????? now how ridiculous is that???
Its because I make my payment in full.. I have never had a outstanding balance.. so because I do that they keep raising my limit. I carry a credit card with me when Iam traveling only! esp by car in case of a REAL.. emergency..
like the car breaking down,,, ect.. otherwise it is not used... If I cannot afford to buy something, then I save the CASH to buy it..
this genertion of I need it here and now.. is aweful... I see my young nephews doing this... And I tell them you are going to regret this when the bill comes and you cannot afford it.. If you cannot afford it ... it means YOU CANNOT AFFORD IT!!!! So dont go and throw it on plastic, just because you want it right now.
Okay now my blood pressure is high LOL.... Freeze pass me some of your meds...LOL
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 9:32:09 AM)| | | Deep Freeze wrote: | | And that is yet another source of tremendous irritation for me!! Credit cards! In fact, credit in general. You see, personal credit is the greatest financial cancer there is. You cannot build wealth when you are in debt. People also do not understand credit well enough and THAT is a huge problem. Take the conversation strat and I had last week. If you really believe that interest is a matter of "simple percentages", you are a shining example of why people have credit problems. Debt is a bane. It is a problem. It is destructive. Credit cards are NOT necessary!! You may think they are but they are not. I do not have ONE credit card. NOT ONE..yet we travel, make purchases and live just fine thank you.
Edited at: Monday, March 23, 2009 9:34:41 AM
Edited at: Monday, March 23, 2009 9:36:36 AM |
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| [_strat_] Monday, March 23, 2009 10:53:54 AM | |
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Going postal? What am I supposed to deliver? Or is it just some weird phrase?
Ok... Loans... I guess the question here is, do your banks even know who theyre lending the money to? Im pretty damn sure that I couldnt get a loan for a home with my wage - because the bank will make damn sure that they get their money back, no matter what, and they will confiscate my underwear if they have to. If you want to take a loan here, you have to have the means to repay it - pure and simple.
And, I guess its true, there are stupid people that will take those loans (if they can get them, that is). But... Its a crisis. What if someone gets laid off, and cannot pay the loan that he/she was perfectly able to manage a year ago? What if that happens purely because of an idiotic CEO in his office in Paris that says "Oh, well, we will just close down that factory in Eastern Europe... Fuck them."?
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 8:59:18 AM)| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [joedraper] Monday, March 23, 2009 10:20:13 AM | |
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hello fellow defenders!!!
Wow what an amazing morning I had! Craig bought a new motorcycle (I'll post pics soon) So this morning we said screw it and took a cruise up to a little town and had a breakfast and then took a cruise back again. It's been years since I was last on a motorcycle and it was so fun.. We should have done this ages ago lol.
It's a bit big for me to hold up so I'm now in the market looking for a 300 or 200 but we'll see what happens.. maybe I'll grow some extra muscles and manage this one lol.. until then.. I'm happy to ride shotgun lol. |
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| [Head banger] Monday, March 23, 2009 10:12:33 AM | |
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well, I would close the one with the highest total cost per unit. chrysler is talking of taking all their plants out of canada because of cost issues. I couldnt blame them. one day they will build cars that people want, and people will have the money to buy them. but for now, the company cant aford to pay people to build stuff that no one wants.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Monday, March 23, 2009 7:35:53 AM)| | | _strat_ wrote: | | Well, yes. True. But... They are closing their foreign factories first. When Renault has to choose which plant to close down - the one in France, or the one in Slovenia - no rewards for guessing which one will be closed down first. No rewards for guessing which plant has the most work now - the one in France, obviosuly. And if Chrysler and Ford have any foreign factories, Im sure that those places were the first ones to get screwed.
| | | Head banger wrote: | | speculators dont have much to do with it. the average person doesnt have the money to spend on new cars yearly right now. they are not moving plants so much as closing them. a few weeks at part pay sucks, perhaps, but its beter than a closed plant.
| | | _strat_ wrote: | | | Oh, whoopedy - fucking - doo... Fucking speculators. Over here, there isnt enough work, because all the foreign companies are moving work from here to their countries... If Renault closes down the plant here, there will be thousands of workers laid off, not to mention those that work for subcontractors... If Renault is doing what Ford and Chrysler are doing, theres going to be a revolution here. I suddenly understand Freezes annonyance with the French. |
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| [Deep Freeze] Monday, March 23, 2009 9:32:09 AM | |
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And that is yet another source of tremendous irritation for me!! Credit cards! In fact, credit in general. You see, personal credit is the greatest financial cancer there is. You cannot build wealth when you are in debt. People also do not understand credit well enough and THAT is a huge problem. Take the conversation strat and I had last week. If you really believe that interest is a matter of "simple percentages", you are a shining example of why people have credit problems. Debt is a bane. It is a problem. It is destructive. Credit cards are NOT necessary!! You may think they are but they are not. I do not have ONE credit card. NOT ONE..yet we travel, make purchases and live just fine thank you.
Edited at: Monday, March 23, 2009 9:34:41 AM
Edited at: Monday, March 23, 2009 9:36:36 AM |
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| [~ MG_Metalgoddess~] Monday, March 23, 2009 9:11:59 AM | |
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Freeze I watched that program too.. I cannot believe that none of those people wanted to take responsibilty..
Next Friday Iam watching the credit card problem.... In The USA...
I agree The Greed and coruption, was horrible... and why no-one is being held accountable for anything is beyond me.. Its the real hardworking people who do and can pay their bills that are going to suffer in the long run..
My Brother is going to try and sell his house this spring/summer.. and is very upset about all the things going on.
When I sold my house In montana, the people went through Country wide... and they appraised the house for exactly the amount they were trying to borrow... these people that bought my house,, had seasonal employment.. No money down, no equity and didnt have a pot to piss in,, and they were given a loan for 250.000. ???? SO even as of last spring when things were starting to go sour in the housing .. they were still approving these shoody loans.
I was happy to get the hell out of there... I was just the seller,but still.. I was nervouse everyday... Are they gping to back out of house?? am I going to have start all over again??? Good grief... I lucked out and sold at the right time before the crisis hit the west coast...
Iam curious to watch the credit card report,, because so-many people have maxed out credit card trying to make ends meet...
Hugs and happy monday!!!!!!!!!!!!! MG~
[Show/Hide Quoted Message] (Quoting Message by Deep Freeze from Monday, March 23, 2009 8:59:18 AM)| | | Deep Freeze wrote: | | You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had an stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting. Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes!
Edited at: Monday, March 23, 2009 9:11:57 AM |
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| [Deep Freeze] Monday, March 23, 2009 8:59:18 AM | |
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You know, maybe I should put this in the Pissed Off Thread but last night, the Princess and I were watching Dateline NBC and they were doing a report on the "mortgage crisis". Now, before strat goes postal on me just let me say that it truly IS a situation caused by greed and corruption. I get that. Being in the business for twenty years, I saw my fair share of "questionable" loans. OK, now that I have prefaced my comments....:
WHAT????!!!!!!!!!!! I sat here ready to friggin PUKE when I heard these morons talking on camera. There were THREE 'borrowers' that were interviewed and guess what they ALL had in common?? ALL three signed for a loan they could not afford ! Worse yet, they continue (probably for litigation reasons) to insist they had no fault!!! WHAT??!?!!??!?! Oh man. I nearly had a stroke!!!!! What the fu#@????????Look, I know there are bad people in businesses. People that would do things to make a buck regardless of right or wrong. I understand. What irritates me is these borrowers claiming they "did not know" that they could not afford a half-million dollar home on a $1600 a month salary! Or, they claim they believed it because the "lender said they could".. WHATEVER! This is FOURTH GRADE friggin math, people!!!! You make $1600 and the mortgage payment is $3000...um, it DOES NOT WORK. You cannot blame that on anyone but yourself !!!!!!!There was even one lady that bought like THREE properties and her income taxes showed she was LOSING money in her business every year!! (Her quote; 'Oh! Those are MY taxes??) Yet she went ahead and signed papers for millions of dollars in loans and now claims it is NOT her fault!!!!!!!!!! Riiiiiiight....... Disgusting.
Like I said, I get that the banks have some responsibility here. No doubt. But these losers that claim they have NO fault at all make me sick!!!!!!!!!!!! Stupid people should NOT buy homes! I am SO sick of people blaming business for all there idiocy!
Edited at: Monday, March 23, 2009 9:11:57 AM
Edited at: Monday, March 23, 2009 9:18:22 AM |
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| [_strat_] Monday, March 23, 2009 7:35:53 AM | |
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Well, yes. True. But... They are closing their foreign factories first. When Renault has to choose which plant to close down - the one in France, or the one in Slovenia - no rewards for guessing which one will be closed down first. No rewards for guessing which plant has the most work now - the one in France, obviosuly. And if Chrysler and Ford have any foreign factories, Im sure that those places were the first ones to get screwed.
[Show/Hide Quoted Message] (Quoting Message by Head banger from Monday, March 23, 2009 7:31:19 AM)| | | Head banger wrote: | | speculators dont have much to do with it. the average person doesnt have the money to spend on new cars yearly right now. they are not moving plants so much as closing them. a few weeks at part pay sucks, perhaps, but its beter than a closed plant.
| | | _strat_ wrote: | | | Oh, whoopedy - fucking - doo... Fucking speculators. Over here, there isnt enough work, because all the foreign companies are moving work from here to their countries... If Renault closes down the plant here, there will be thousands of workers laid off, not to mention those that work for subcontractors... If Renault is doing what Ford and Chrysler are doing, theres going to be a revolution here. I suddenly understand Freezes annonyance with the French. |
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| [Head banger] Monday, March 23, 2009 7:31:19 AM | |
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speculators dont have much to do with it. the average person doesnt have the money to spend on new cars yearly right now. they are not moving plants so much as closing them. a few weeks at part pay sucks, perhaps, but its beter than a closed plant.
[Show/Hide Quoted Message] (Quoting Message by _strat_ from Monday, March 23, 2009 7:26:46 AM)| | | _strat_ wrote: | | | Oh, whoopedy - fucking - doo... Fucking speculators. Over here, there isnt enough work, because all the foreign companies are moving work from here to their countries... If Renault closes down the plant here, there will be thousands of workers laid off, not to mention those that work for subcontractors... If Renault is doing what Ford and Chrysler are doing, theres going to be a revolution here. I suddenly understand Freezes annonyance with the French. |
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| [_strat_] Monday, March 23, 2009 7:26:46 AM | |
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| Oh, whoopedy - fucking - doo... Fucking speculators. Over here, there isnt enough work, because all the foreign companies are moving work from here to their countries... If Renault closes down the plant here, there will be thousands of workers laid off, not to mention those that work for subcontractors... If Renault is doing what Ford and Chrysler are doing, theres going to be a revolution here. I suddenly understand Freezes annonyance with the French. |
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