Traders blast the presidents plans

[SteamWake]

Tell it like it is brother...
The groundswell gathers strength.

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

[AVGWarhawk]

He is fired up, no? It does not matter. Those that are in foreclosure will get help. Bills paid and reduced mortgage. Those that are not behind in their mortgage get to pay for it and receive nothing.

[Rockstar]

Bring it on gents

[Enigma]

groundswell?!?

[SteamWake]

Originally Posted by Enigma

groundswell?!?

Yes groundswell my liberal leaning friend.

You just wait and see. The american people are a little slow on the uptake.

People are beginning to wake up to the fact that those whom did the right thing and actually take a mortgage they could afford, and make their payments are being screwed royally. People whose property taxes balloned on the property value only to see their value go down but not their taxes.

Of course there are those whom will intentionally take advantage of the system screw the forthright taxpaying citizens and praise the Obama administration for the fine job there doing. But eventually the truth will catch up with them.

[AVGWarhawk]

Come on Stream, you know the "victim" card will be used here because of the "shady" loans offered. You know, the fat contract laid before you to read before you sign. The exact same ones ignored and signed anyway. Then the credit card offers start coming in the mail because you got a fat loan for a house and now credit worthy. These are filled out and ran to the max. Then they refinance to the hilt to pay of all the crap they amassed and can not pay for. Now there is no refinancing on a house that is worth far less than what the refinanced it for. Come on, it is not their fault. Surely it is someone else fault they got this way. Someone needs to pay for the trips to Disneyland, the 2 SUV, John Deere riding lawn mower, the 30 foot sailing sloop, the inground pool, the hot tub and the half a million dollar loan that was all generated on living off refinancing a house upteen times We will just wipe the slate clean and can start fresh with everything paid for with exception of the half a million dollar home that will now have a brand new loan at -4% and costs about $400.00/month. While the rest of us who bought wisely and within our means can stay in our current loans on the same loan value we purchased the property for and spend the rest of our time watching Johnny homeowner in his half a million dollar house go sailing on his now paid for sailing sloop. I'm lov'in it at McDonalds.

[SteamWake]

Originally Posted by AVGWarhawk

Come on Stream, you know the "victim" card will be used here because of the "shady" loans offered. You know, the fat contract laid before you to read before you sign. The exact same ones ignored and signed anyway. Then the credit card offers start coming in the mail and these are filled out and ran to the max. Then they refinance to the hilt to pay of all the crap they amassed and can not pay for. Now there is no refinancing on a house that is worth far less than what the refinanced it for. Come on, it is not their fault. Surely it is someone else fault they got this way. Someone needs to pay for the trips to Disneyland, the 2 SUV, John Deere riding lawn mower, the 30 foot sailing sloop, the inground pool, the hot tub and the half a million dollar loan that was all generated on living off refinancing a house upteen times We will just wipe the slate clean and can start fresh with everything paid for with exception of the half a million dollar home that will now have a brand new loan at -4% and costs about $400.00/month. While the rest of us who bought wisely and within our means can stay in our current loans on the same loan value we purchased the property for and spend the rest of our time watching Johnny homeowner in his half a million dollar house go sailing on his now paid for sailing sloop. I'm lov'in it at McDonalds.

All true to a degree although perhaps embellished a bit. The problem is that the general public at large do not realize this. If they did... and they will... the uproar will begin.

I find it hard to believe that the grifters make up the majority of US citizens.

[nikimcbee]

Originally Posted by SteamWake

Tell it like it is brother...
The groundswell gathers strength.

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

Steamwake, your....attitude had been noted. It is against the konstitution to question the Our Beloved Messiah, Barrack Obama, paise be to His Name.



Steamwake, you're not singing loud enough!

[nikimcbee]

Obama thought po-lice, drive by AVG, also taking notes....

[Sea Demon]

Again, this is simply rewarding failure and undesirable behavior. Obama wants you to pay for your irresponsible neighbors mortgage. Disgusting. At this point, why should anybody pay their mortgage? Seriously. The market traders are openly mocking the Obama administration today. They understand what all this will lead to.

Anybody listen to Hussein Obama yesterday? In case you didn't, Obama spoke of governmental intervention to adjust rates and lending practices in the housing sector. This guy is an incompetent wreck. He doesn't even know that this is what caused the ruckus in the first place. Look at the circus this new administration is putting us into. And not even in for a month yet.

[nikimcbee]

Steamwake detained and interrogated...

[AVGWarhawk]

Originally Posted by SteamWake

All true to a degree although perhaps embellished a bit. The problem is that the general public at large do not realize this. If they did... and they will... the uproar will begin.

I find it hard to believe that the grifters make up the majority of US citizens.

Not really embellished that much. A majority got in over their heads because a credit line was established upon getting the loan for the house. Credit cards obtained, vehicle loans handed out. Eventually, there is more money needing to go out then coming in. I have been there and done that 15 years ago. Learned my lesson real quick. I do not have any credit cards and currently have one car payment. My house mortgage is up to date. I live within my means. For a majority it was spending on credit that has gotten out of control. If these folks could not afford the loans on the ARM as the interest crept up, they should have refinanced to a 30 year fix long before the got into real trouble. For most, this did not happen overnight. It has gone on for years and it has finally come to a pimple.

Not looking to make arguments here, just stating what I have experienced with my own finances and what one family member is experience right now....exactly what I have state above. Spending like it is going out of style and doing it all on credit/refinancing upteen times.

[AVGWarhawk]

Originally Posted by nikimcbee

Steamwake, your....attitude had been noted. It is against the konstitution to question the Our Beloved Messiah, Barrack Obama, paise be to His Name.



Steamwake, you're not singing loud enough!

You got your own problems. Beer is what, $80.00 for a case now in your state? They got real problems when they start mess'in with a man's beer.

[AVGWarhawk]

Originally Posted by Sea Demon

Again, this is simply rewarding failure and undesirable behavior. Obama wants you to pay for your irresponsible neighbors mortgage. Disgusting. At this point, why should anybody pay their mortgage? Seriously. The market traders are openly mocking the Obama administration today. They understand what all this will lead to.

Anybody listen to Hussein Obama yesterday? In case you didn't, Obama spoke of governmental intervention to adjust rates and lending practices in the housing sector. This guy is an incompetent wreck. He doesn't even know that this is what caused the ruckus in the first place. Look at the circus this new administration is putting us into. And not even in for a month yet.

Bring in the cloooowwwwnnns.....bring in the clooowwwns.

Sadly, I would say a majority that do get bailed out will right back in the same boat in 5 months.

[nikimcbee]

God, himself has spoken to the Messiah Obama and revealed his plan...