| In the name of capitalism For years our government has been allowing companies to take advantage of people and stick their noses in the air saying you should have know better or should have been educated more.
Both arguments are BS..
While Families are loosing homes.. the big banks are paying hundred of billions in bonuses.
We need an administration that will not bow to the pressures of lobbying monies. And a Government that will stop companies from taking advantage of consumers.
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Reach out and Tap someone! |
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 KrKHeavy Artillery For The Little GuyPremium
join:2000-01-17
Tulsa, OK
 ·AT&T DSL Service
1 edit | Well I agree with you up to a point. Definitely the mentality of treating people as cash cows and trying to hit them up every way and sideways for more money while delivering the barest minimum of service or product quality back is running rampant....
... The banks are also eating massive losses on the real estate downturn. People are loosing their homes to foreclosure, and then the banks are having to sell them at huge losses to generate capital.
So both the family and the banks lose...
Here's what I don't understand about the "Economy Bailout" stimulus package. Why not try a plan to allow people to refinance out at a lower rate from the ARMS and so on? Rather then force foreclosure and then liquidation for huge losses for everybody? Why not have a stimulus plan that allows for people to take their existing mortgage and do a no or very low cost Re-Fi into a lower interest rate fixed mortgage. (I'm specifically talking about people who are already over-extended so that they can't get normal re-fi... but offer the plan to everyone to help the economy....) I think this would be in the banks and the families best interests long term, and would allow people at least the chance to get their finances in order. |
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| said by KrK:Why not have a stimulus plan that allows for people to take their existing mortgage and do a no or very low cost Re-Fi into a lower interest rate fixed mortgage. I think this would be in the banks and the families best interests long term, and would allow people at least the chance to get their finances in order. Because "long term interests" are anathema to Wall Street, particularly if it benefits anyone else except corporate interests. The name of the game is short term. If Wall Street can make a bajillion simoles in a day, then f*ck the long term. That's the entire reason the U.S. economy is in the shitter...myopia. |
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 Combat ChuckToo Many CannibalsPremium
join:2001-11-29
Erie, PA | reply to packetscan
said by packetscan:We need an administration that will not bow to the pressures of lobbying monies. And a Government that will stop companies from taking advantage of consumers. Yes, why should people be realistic when we can have the government wipe their noses when they get whacked in the face for being stupid.
Oh no, we relied on the BANK to give us good advice on our loan, and they didn't tell us that adjustable rate meant it would go up at some point. Boo Hoo.
Same goes for the bank that decided it would be a good idea to squeeze people into ARM's instead of saying "look if you can't afford the flat rate you need not be financing this much money".
Let the idiot lose his house, let the bank lose their shirts; everyone walks away beat to shit but a little wiser.
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Mooooooo!!! |
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bicker
join:2007-05-10
Burlington, MA | reply to packetscan
Good luck with that. For thirty years Americans have endorsed and re-endorsed the fiscal conservatism launched in the Reagan years. Even the Democrats are pro-business now. You hope is a pipe-dream. I'm not even sure if you really want what you say you want. Who are you going to vote for for President? |
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