I thought this is a trading board, why is there a bunch of commies and socialists here. The bottom line is if the home owners had been paying their mortgages no one will be foreclosing their homes. All this talk of mortgage frauds with the paper works is noting more than a minor technicality. The banks will eventually get the homes if you don't pay the monthly payment. If the housing market has been going up instead, do you expect any of these home owners to give the bank some of the gain? But now the market has gone down, every scumbags and the gov wants to rewrite the contract and reduce the loan value. This is like I bought some stocks and the price has gone down, now I want the seller, SEC, NYSE, NASDAQ, taxpayer, anyone but me to eat the losses. This is just crazy or is capitalism and the rule of laws are dead.
I also do not have a mortgage on any of my properties.....and Austin, TX has held up very well so far!
You seem like a typical blockheaded parrot who regurgitates this empty rhetoric. It's a helluva lot more nuanced than what you've written above, but you certainly aren't too swift, so it's probably a moot point. I'm all for capitalism, but you can't bail out banks, let them feed off of Fed largesse and then turn around and tell everybody else that they should play fair. It's not some "commie" debate...
bob, spot on. as someone who also worked and deserve what i have i hope the banks foreclose on all those who overspent and what not. as far as values plummeting, i do not care that much as the way i see it..those higher prices never should have existed. threats of social unrest are from inexperienced chicken littles or from those who made the mistakes imo. anyway, how could anyone who has half a brain say it is ok to simply break a contract or deal?
It is not okay to break a contract unless there is deception is used to trick a person into the contract!
Completely disagree. Microsoft is much bigger than Bill Gates and that company isn't driven by greed. Theirs is a scorched earth policy based on gluttony; they want to own the entire market they happen to be in or decide to go after. Problem is, they don't do it with better products, they do it because no one can stop them due to how big they've become. Anyone who's worked in the IT industry knows full well that their presence has irrevocably warped and stunted both the software and hardware markets. There were much better solutions in each that were crushed either because it was viewed as the competition or because it wasn't suitable to their plans. If anything, it, like the big banks, big oil, and big government, underlines the fact that "too big to fail" is bullshit. It should be "too big for our own good."
people on ET seems to have problem accepting the simple facts that TODAY someone might be a bit better positioned in the life than they are. i did post my statements numerous times here, only to hear that they are fake or altered. same with houses..candyland..that's ok..i can live with that..i only use ET for entertaining anyway.