Replies

I feel your rage with the irresponsible dumas's, but there is more to this. When scumbag banks invent things like 40 year mortgages, interest only mortgages, variable rate loans, AND raise the maximum debt cap to 40% of your income, while giving dumas's with prior bankruptcies a mortgage, They in EFFECT created the real estate bubble. Their greed caused this mess we are in now.

I don't know if you know it, but the banks run this country, so when they fail, WE (guys like you and me who have our sh*t together) are going to end up picking up the tab (i.e. this is gonna make the S&L crisis look like a drop in the bucket).

So the question is who are you gonna blame for this: the dumas's, the greedy scumbag banks, or our payed off politicians in both parties? I blame them ALL.

This rant sounds liberal, but it is simply patriotic. I hate Democrats and Republicans. But, the gun and abortion issues always keep me on the Republican side (the fake conservatives know this and they use it against us). When every election ends up being a choice between the lesser of two evils, we are not a "Free Republic" anymore.

F H

PS: I like your signature. I invented something similar a few years ago:

The first golden rule: He who has the gold makes the rules.
The second golden rule: He who has the guns, takes the gold.

They in EFFECT created the real estate bubble. Their greed caused this mess we are in now.

I submit that "The American Dream" caused this mess, and if more children grew up believing that going into debt for ANY reason - including the purchase of a home - was totally unacceptable, these companies would quickly cease to exist and the real estate bubble would deflate.

The delusion that one has to buy residential real estate in an environment which punishes owners and rewards renters is responsible for many of the current imbalances in the economy. Take what the government gives you. Recognize that as long as you are paying property taxes, you don't really own your home, anyway. That's the best way to punish predatory lenders - by not buying into the illusions that sustain them.

You are absolutely correct about greed being at the root of this. That much we agree on. For my part there is greed on the side of the debtors and the creditors both. Bankruptcy isn't going away, the deal is just getting worse for debtors.