Web_Team's Blog

Instead of taxpayers bailing out the mortgage industry via government tax money (which I highly object to), how about making the very companies who approved those questionable loans wait for their money? Really, all that needs to be changed are the rules regarding foreclosure. For example, if a primary home is foreclosed make it a law that the owner gets to stay in their home until they either die or sell it - sort of like a lean. But once the home is sold or the owner dies, the lender then gets to recover the original loan less any payments. And after a loan goes into default any interest would also stop accumulating too. This would in a way punish the lenders for making bad loans and make them wait to recover their money. Let's also not forget that defaulting on a loan can already allow a lender to garnish a borrower's wages via the courts to say nothing of reporting bad credit to one, two or all three credit reporting companies as well.

This is just CORPORATE WELLFARE.

100% of Foreclosed Home Owners were 100% approved by the bank.

Now we are asking the taxpayers, again, to bail out corporate businesses who made bad choices. They should have never made risky loans for people that COULD NOT AFFORD THE RATE CHANGE!

We are doing this to try to keep the nation floating...while we sit back and burn through HUNDREDS OF BILLIONS OF DOLLARS EVERY YEAR FOR THE IRAQ WAR.

The Federal Government could have purchased everyone's mortgage TEN TIMES OVER for what we paid for the IRAQ WAR!

CO_NTG - I agree with you in part. Businesses should never have made loans to people that could not afford them. But likewise, people who could not afford them should never have sought them. It comes down to individual responsibility. But how in the hell can you possibly compare the cost of a government plan to help homeowners or bail out lenders, with the cost of the war on terror? Here's a news flash for you: We were attacked repeatedly during the 80's and 90's, and nothing was done about it. Then we were attacked on 9/11. We are spending billions to prevent that from happening again. We are spending billions to keep our troops, and as many of the enemy, over there, and not here. You want to complain about ridiculous spending? Complain about the pork, the senseless spending, added to really important bills in Congress. That's why the President wanted the line item veto, but spineless, gutless, spend-happy libs wouldn't give it to him.

We are spending billions to cover up bad decisions just as we did in Viet Nam in the 1970's. I don't feel any safer than I did in 2000, but I do waste more time waiting for old ladies at the airport wo take off their shoes.

Conservative Republicans controlled the congress for more than a decade until last year and this President has continued to benefit the rich by privatizing profits and socializing their losses, subsidies to an oil industry making record profits.

I have been out of work for a year, receive no support from the government as my wife works two part time jobs and I pay for my mortgage with credit cards.

The government has already done enough damage. By 2009, this situation will have corrected itself or turned into a major economic depression.

I applaud all of you that made good choices, but have you thought what would happen if you lost your job and then your spouse lost their job and then became seriously ill and could not work. I don't think the tax payer should bail out the companies that lent huge amounts to people who bought the big buck homes but maybe some help for the people that did have hardships hit them and that is something no one can predict.

Denver Accountant - One bad decision in Vietnam was not being allowed to blast the enemy into the stone age, thank you liberals! Another bad decision in Vietnam was pulling out without finishing the job, thank you liberals! The result was a huge stain on our image and millions slaughtered, thank you liberals.
Conservatives did not "control" Congress, they were simply a majority. There were enough spineless liberals, though, to block any bill the Repub's proposed, unless obscene amounts of pork was included. Now the libs are a majority in Congress and the only thing keeping those spend happy psychopaths from spending us to death are the Repubs.
And how is it that you have been out of work for a year? Unless you suffered a devastating injury and have an actual physical impairment which prevents you from working, you should have picked up a job within days of losing your last job. What have you been doing besides adding to the credit crunch? Living on unemployment? That's called laziness! No one owes you anything. Get up, get the newspaper, and get a job, any job and get some money coming in.
Lastly, you think enough damage has been done to our ecconomy, watch what happens of the libs get the white house, or the black house (yeah you're GD right I said that), and a massive majority in Congress.

Got to go to work, Bye all.

Wow! Some interesting postings here - some really great points and also a lot of needless "political" B.S.

I think some people who purchased a home bought into something more than their paychecks could afford. Should we - the taxpayers and the government - bail them out? My opinion? NO! Yes, I know, bad things happen to good people - you can't foresee a spouse/partner losing a job, or being diagnosed with an illness that causes you to not be able to afford your mortgage. Well, in that event, sell the house and downsize. I don't mean that to sound unfeeling - I'm just being realistic. Anyone with half a brain knows that just because you have checks in the checkbook doesn't mean you can write a check if you don't have money in the bank account!