This guys out of a job at CNBS

[buckman]

http://www.cnbc.com/id/15840232?video=1039849853

Funny and the truth

[spence]

Talk about loosing control, not much of a professional...

Here's the problem, it's easy to make a common sense argument that nearly everybody will agree with like "why should I have to help pay for my neighbor's mortgage".

But the flip side, is that a lot of the rules that may have contributed to this mess have also grown our economy and increased our standard of living.

So unless you're willing to give away a lot that you have gained, you don't really have a solid leg to stand on.

The question now really is about maintaining that standard of living. I'm not sure a fast change to a laissez fair system wouldn't lead to a worse situation than we're in now.

The government, and the government alone has the resources to rapidly apply treatment to the problem. The free markets have already demonstrated their weakness, and it's called greed.

-spence

[detbuch]

Originally Posted by spence

Talk about loosing control, not much of a professional...

Here's the problem, it's easy to make a common sense argument that nearly everybody will agree with like "why should I have to help pay for my neighbor's mortgage".

But the flip side, is that a lot of the rules that may have contributed to this mess have also grown our economy and increased our standard of living.

So unless you're willing to give away a lot that you have gained, you don't really have a solid leg to stand on.

The question now really is about maintaining that standard of living. I'm not sure a fast change to a laissez fair system wouldn't lead to a worse situation than we're in now.

The government, and the government alone has the resources to rapidly apply treatment to the problem. The free markets have already demonstrated their weakness, and it's called greed.

-spence

The free Markets have demonstrated the greatest economic power in history. The greatest threat to that power, which, like any power, ist not always at max, is the "GOVERNMENT ALONE." That threat, the Government Alone, is the antithesis of the free market. It is, in this present context, rightly called Socialism.

[buckman]

Why would I have to give up anything. The truth is after the help most of these mortgages will be forclosed on down the road. They are bad loans no matter how you word it. Do I feel bad, of course I do. It is not the job of the taxpayer to bail out someones bad decisions.

[RIJIMMY]

Good for him and F being professional. Its called balls Spence, and there will be more to come, hard working Americans are not going to be standing idley by while our money is going to people that dont deserve it. YOU ARE REWARDING BAD BEHAVIOR!
WE are giving MORE MONEY TO FREDDIE AND FANNIE this if f'ing NUTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[spence]

I love it, so someone who has a job, and probably a family, should be praised for ranting unprofessionally while at work and calling someone who might have been layed off and can't pay their bills a "looser".

That's really nice. Perhaps this guy will get fired from CNBC and be looking for help to fund his condo in the City

A lot of people with bad loans aren't in that situation because of only their own poor decisions, they are to some degree also a product of a highly dysfunctional system.

For instance, the same system which inflated housing prices also inflated mine allowing me to carry a higher equity line of credit. I benefit from this while it is the result of actions primarily from others.

It's a system.

Should there be more personal responsibility? Sure, it certainly would have helped in some situations. But we also need more regulation to keep the lenders in check.

You guys keep telling me that regulation is a bad thing. Sometimes, I'm not even sure what you believe any more.

-spence

[RIJIMMY]

I never once, not one single time, said regulation is a bad thing. Of all the fluff BS in these stimulus bills, didnt see anything on regilation, did ya? Or howe about some funding for all the IT work that will be required if we did have regulation, who pays for all that?
As far as ranting unprofessionally while at work, Chris Mathews has made a career of it.

My neighborhood skyroketted and my house is worth close to double what I paid for it, just curious why I didnt take out a home equity loan? I am a PERFECT target for the mean agressive evil greedy predatory lenders. Why? becasue I dont borrow more than I could afford and I have half a brain to tell me that prices will go down! I am penalized, through taxes, for the people that had less than half a brain!

[buckman]

It's called LIFE. Sometimes you win and sometimes you lose. Whatever doesn't kill you, makes you stronger. We allow our children to make mistakes so they learn. Cruel, I don't think so. In the long run they will become better people. Stop making excuses.