Democrats in 2008: Re: [Dems2008] Ask not...

Why do you think that Kar is not a Democrat? There are all variations of democrats - extreme left wing, moderate left wing, moderates, and some slightly right wing. I think Kar has a great point as far as the mortgages go. The housing market was floundering a little bit, interest rates were cut, so the mortgage companies decided to go after people who would not ordinarily be able to buy a home under normal lending circumstances and offered them sub prime loans. Everything was wonderful (rose colored glasses wonderful). And then it all started coming apart when these wonderful ARM's started coming due.

While the borrower could afford let's say a $700 payment they would not be able to afford a $1,200 payment when the ARM kicked in. Now Mr. and Mrs. naive home buyer either didn't bother to know that this was going to happen or the mortgage companies did the old hard sell of "Don't worry about it, by the time the ARM kicks in you can refinance to a fixed rate." Knowing full well that these borrowers would not be able to qualify for this.

So I blame both the borrower for not being an informed consumer and the mortgage and housing industries for not caring how they got someone into a mortgage. And now we the american tax payer are being asked to bail these people out. I don't see why it is our responsibility to do this.

isabelle <isabelle_ms@yahoo.com> wrote:

It's funny that you're in the group for democrats when
you obviously aren't one. I guess you think it's so
much better for our tax dollars to be spent bailing
out the mortgage companies who gave the loans to the
stupid people? Oh wait, you'd rather it be spent on
bombs to blow up countries that our tax dollars can
pay war profiteers to rebuild? Instead of what you
call "socialism" I guess you prefer the fascism we've
had for the past 7 plus years.

--- Karmaniac <karmaniac@gmail.com> wrote:

> It's funny how far the Democrat party has come.
> JFK: "Ask not what your
> country can do for you, ask what you can do for your
> country." With
> Hillary: "Let me know what you want and I'll give
> it to you. I'll fix all
> your personal problems, especially if these problems
> are your own damn
> fault." For instance, why should the gov't bale
> out people who stupidly
> overextended themselves and got into loans and
> mortgages they couldn't
> afford? Why should my tax dollars go for that!? If
> a student took out a
> student loan, isn't it fair they he/she should be
> required to pay it back?
> With Hillary, it's not the student's fault, it's
> the gov't's, the bank's,
> G. Bush's, etc. If people overextend themselves
> with credit cards, why is
> that a problem the gov't must fix? Why is that my
> problem? With Hillary,
> it's the evil credit card companies that are to
> blame for forcing these poor
> victims to 1. Sign up for the credit cards, and 2.
> Use them over and over,
> and 3. Not be able to pay them off. I hear
> absolutely nothing about
> personal responsiblity from Hillary (or Obama for
> that matter). It's always
> the evil companies, the evil this, the evil that.
> No one is expected to do
> anything for him/herself. Hillary will do it all
> for us. That's socialism
> and it will ruin the country.
> Kar
>

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