First, I'd like to bring this back for the corrupt pols that got us in this predicament......beginning with Senator Dodd, Barney Frank, and working our way down.
Posted on 12/10/2008 3:47:45 PM PST by publius321
December 10, 2008
Turn "toxic" mortgages to AAA - Bring back Debtors Prison (Really, I'm Serious)
http://www.tableofwisdom.com
(Excerpt) Read more at tableofwisdom.com ...
might solve a lot of things, if you include the reps, senators and president accountable for their actions.
I think it’s a silly idea. Instead, put a few CEOs and hedge fund managers in gaol: that is where the accountability for this current mess lies.
Might I suggest Greenspan and Bernanke. Paulson would fit in nicely as well.
Apart from the fact that he makes the “prison” actually “voluntary house arrest,” this is a remarkably stupid idea that would fail on such an epic scale that it’s hard to predict what would happen.
Why not just make them slaves to the corporation they owe the debt to?
Scrooge lives
Aren’t father’s still eligible for debtor’s prison?
“this is a remarkably stupid idea...” - 1rudeboy
Based upon your insolent rely, you are indeed 1 “rude” little boy as your name suggests. ENTERING the agreement is what would be voluntary - in exchange for the reworking of the mortgage at the lower rate and payment. Once the agreement is in place and the mortgage revised, the - TERMS - of the agreement would no longer be voluntary. House arrest would no longer be voluntary.
First, I'd like to bring this back for the corrupt pols that got us in this predicament......beginning with Senator Dodd, Barney Frank, and working our way down.
Nice. But I do question how in this economic downturn, you think taking parents away from kids is going to fix anything?
While there were alot of fools out there, taking stupid ARM’s for mortgages, I don’t think putting people in jail to have to feed and clothe and provide medical care for them, AND have to put their kids in foster care would fix anything.
Just my opinion though.
Just get the American dream fixed for heavens sake so an hard working guy can own something besides the shirt on his back!
1rudeboy, I typically think you are really really rude. But today, I agree with you!
The real thugs here were the lawyers and judges who enforced the bogus standards of the CRA. THOSE people belong in jail. You don't jail people for applying for a loan and then falling on hard times, particularly when much of the cause was their own government.
In the future, please post content from this site into our Bloggers forum and not the main news forum.
Thanks,
He may be rude, but he is correct. It’s a stupid idea.
We have debtors’ prison; lose your job and miss a couple of child support payments and watch what happens. In legalese it’s called “contempt of court” but it is (to use one of their words) “constructively” debtors’ prison.
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