the whole thing pisses me off
the gov. already bailed out wall street in the nineties I thought, back when Greenspan was in charge of the fed. That set a very bad precedent and was already a huge mistake , so now they want to do it again?
sorry, I'm not buying into that crap.
I didn't cause this chitstorm, I won't be a part of bailing out.
I pay for insurance up the wazoo, insurance companies never lose money, even when disaster strikes they all pool together to keep from going under I thought. So why can't these irresponsible institutions,people, homeowners,credit card abusers be responsible for there own mess?
I bought my home in Dec. of 1988 at the peak of the market then, 10% interest (refinanced twice since)and have paid on time, made it thru hard times, was scrutinized when we applied, and almost 20 years later got the balance on the 1st mortgage down from 110700 to about 50000. Since then the banks allowed this crap to happen by giving away mortgages with little credit, no money down, ballon payments, other creative nonsense so prices would stay high etc. and all the while I stayed where I could afford instead of being part of the problem today by buying a bigger or better house than I could afford. Well screw that, I pay enough friggin taxes already and will probably never see a dime of SS in my life.
The Gov. can find the right solution for this mess, not some band aid that is not sure to work.
Threaded Mode