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A ‘Moral Hazard’ for a Housing Bailout: Sorting the Victims From Those Who Volunteered
New York Sun ^ | Feb 23, 2008 | Edmund Andrews

Posted on 02/24/2008 11:08:55 AM PST by Travis McGee

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To: WhyisaTexasgirlinPA; colinhester

In addition, I’ve discovered the truth of what a lawyer advised me - the law says whatever a judge feels like it says when you go to court.

Many states make eviction nearly impossible. The HOA often lacks the money to pursue it in court, and may find their legal contract isn’t worth squat all compared to a sob story.

The HOA im my Mom’s old neighborhood tried to enforce rules like, “no parking cars in your yard”, only to lose as often as they won. The man across the street from my Mom had 3 cars parked on blocks in his front yard for several years, and the courts backed HIM, not the HOA!


21 posted on 02/24/2008 1:27:33 PM PST by Mr Rogers (Let's win Congress - the Presidency is lost!)
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To: ridesthemiles
$175k houses to $80k income families are not the problem. In the NE it is $550k houses to $75k families, and in the SW it is $350k houses to $50k families. It is a stretch to get to 4 times pretax income. Half the houses in the country are up at 7 times, instead.
22 posted on 02/24/2008 1:34:44 PM PST by JasonC
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To: Mr Rogers

Good to know, thanks.


23 posted on 02/24/2008 1:44:26 PM PST by WhyisaTexasgirlinPA (Even my tagline is sad....I can't stand ANY of the candidates!)
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To: Travis McGee

“We’re not about to go into a situation where (real estate) prices will go down. There is no evidence home prices are going to collapse.”~~Alan Greenspan, May 21, 2006

Alan Greenspan - PING!


24 posted on 02/24/2008 5:49:37 PM PST by bjs1779
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To: Travis McGee

I know as a capitalist I think people should pay their debts and take the licking their actions give them, to including the licking banks should take for making these financially risky loans and using those risky investment vehicles, but if we don’t do something now about this then we may be facing a depression that makes the 1930’s look tame.


25 posted on 02/24/2008 6:06:48 PM PST by CodeToad
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To: CodeToad

It’s the “do something” that is problematic. What? You can’t undo the iceberg hit under the waterline.


26 posted on 02/24/2008 7:26:43 PM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: Travis McGee

No, but you can look to abandon ship ASAP and ensure as many people survive as possible. The ship is DITW and will sink.


27 posted on 02/25/2008 8:10:09 AM PST by CodeToad
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To: CodeToad

Yep, that’s all you can do at this time.


28 posted on 02/25/2008 11:37:32 AM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: Travis McGee
Alan Greenspan interview recently. All segments that I can find ended abruptly, but this one lasted about 2 seconds longer than the others.

http://www.youtube.com/watch?v=caIgP3Mnb6g

29 posted on 02/25/2008 5:26:43 PM PST by bjs1779
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To: bjs1779

NOW he tells us!!!!


30 posted on 02/25/2008 5:56:02 PM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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