Thanks again Republicans for showing that Big Business matters more than the people.

Oh, and Dodd and Conrad deserve at least an investigation, if not the loss of their seats.

GAT_00: an investigation

can't hurt, that's for sure.

If I had known the government would bail me out for stupid financial decisions, I would have gotten one of those 5/15 no-interest ARMs I saw advertised on TV instead of the 30 year fixed mortgage from a reputable credit union.

Typical day at the office Republicans, eh?

The Icelander: If I had known the government would bail me out for stupid financial decisions, I would have gotten one of those 5/15 no-interest ARMs I saw advertised on TV instead of the 30 year fixed mortgage from a reputable credit union.

You wouldn't get bailed out. The company you got that loan from would be.

It might "trickle down" to you, though.

Sabyen91: You wouldn't get bailed out. The company you got that loan from would be.

Why should either of them get bailed out?

"as two GOP senators said they would try to block the package until a committee can investigate how much Countrywide Financial Corp. and other lenders stand to gain from it."

So what's the problem? They have concerns that Countrywide could be getting special treatment due to their connections with some members of congress.

sarcastrophe: Sabyen91: You wouldn't get bailed out. The company you got that loan from would be.

Why should either of them get bailed out?

Predatory lending is illegal. It appears to me it is just what happened. These companies should be facing fines and their officials should be facing PMITA.

Sabyen91: Predatory lending is illegal. It appears to me it is just what happened. These companies should be facing fines and their officials should be facing PMITA.

Ok, that's fine, but again.... why should either of them get bailed out?

The Icelander If I had known the government would bail me out for stupid financial decisions, I would have gotten one of those 5/15 no-interest ARMs I saw advertised on TV instead of the 30 year fixed mortgage from a reputable credit union. managed a hedge fund based upon a bunch of risky mortgages and bundled them together to maximize profit and then take the money and run.

FTFY.

Personal responsibility. It doesn't apply to corporations, only poor people.

Nothing like putting millions of Americans out on the street to swing an election, George.

sarcastrophe: Sabyen91: Predatory lending is illegal. It appears to me it is just what happened. These companies should be facing fines and their officials should be facing PMITA.

Ok, that's fine, but again.... why should either of them get bailed out?

I never said they should. The buyers should NOT be penalized though. They should be renting.

sarcastrophe: Ok, that's fine, but again.... why should either of them get bailed out?

Why should we prosecute rapists? The "victim" should have carried a gun. Joe Q. Taxpayer shouldn't have to pay for some "victim's" sense of justice.

Sabyen91: I never said they should. The buyers should NOT be penalized though. They should be renting.

I don't have a problem with that either.

Sabyen91: Predatory lending is illegal. It appears to me it is just what happened. These companies should be facing fines and their officials should be facing PMITA.

Can you define the difference between "Predatory Lending" and "the Government wants to increase homeownership by giving more loans to help everyone afford a home"?

"Home Ownership for More People" has long been the official position of both the Democrats and Republicans. The only way to accomplish that is to give loans to people who are less and less likely to pay it back and hope the economy holds out and the buyers can hang on.

Stupid policy, natural consequence.

LocalCynic: Why should we prosecute rapists? The "victim" should have carried a gun. Joe Q. Taxpayer shouldn't have to pay for some "victim's" sense of justice.

You're seriously comparing a violent crime to fraud?

The Icelander: If I had known the government would bail me out for stupid financial decisions, I would have gotten one of those 5/15 no-interest ARMs I saw advertised on TV instead of the 30 year fixed mortgage from a reputable credit union.

This.

It's a government, not a babysitter.

jvl: Sabyen91: Predatory lending is illegal. It appears to me it is just what happened. These companies should be facing fines and their officials should be facing PMITA.

Can you define the difference between "Predatory Lending" and "the Government wants to increase homeownership by giving more loans to help everyone afford a home"?

"Home Ownership for More People" has long been the official position of both the Democrats and Republicans. The only way to accomplish that is to give loans to people who are less and less likely to pay it back and hope the economy holds out and the buyers can hang on.

Stupid policy, natural consequence.

Umm, the government isn't going to default?

Monkeypillow: The Icelander: If I had known the government would bail me out for stupid financial decisions, I would have gotten one of those 5/15 no-interest ARMs I saw advertised on TV instead of the 30 year fixed mortgage from a reputable credit union.

This.

It's a government, not a babysitter.

Woooohoooo!! Let's bring back the robber barons!

sarcastrophe: You're seriously comparing a violent crime to fraud?

I don't know the "victim," so why is it my business?

People like being "tough on crime" because it sounds macho, but it's just another instance of socialism. Want to stop crime? Then pack heat, and know how to use it.

sarcastrophe: Sabyen91: I never said they should. The buyers should NOT be penalized though. They should be renting.

I don't have a problem with that either.

I didn't figure you would, you are pretty rational. Just glance at the thread and look at the class warfare among the right, though. Pretty cute.

LocalCynic: I don't know the "victim," so why is it my business?

People like being "tough on crime" because it sounds macho, but it's just another instance of socialism. Want to stop crime? Then pack heat, and know how to use it.

WTF are you smoking?

Sabyen91: I didn't figure you would, you are pretty rational. Just glance at the thread and look at the class warfare among the right, though. Pretty cute.

The funny part is that measure they want cut out of the bill directly helps the lenders, not the people.

Lets stop bailing out people and businesses. You were stupid you get farked move on.

sarcastrophe: WTF are you smoking?

Self-reliance. Try it some time.

agentxavier: Lets stop bailing out people and businesses. You were stupid you get farked move on.

Yeah! Because doing nothing to address the root cause of the credit crisis has worked so well!

sarcastrophe: Sabyen91: I didn't figure you would, you are pretty rational. Just glance at the thread and look at the class warfare among the right, though. Pretty cute.

The funny part is that measure they want cut out of the bill directly helps the lenders, not the people.

Eh, I didn't read the article. Somehow, I find it hard to believe Republicans want get rid of the part that helps the lenders. I will be RTFA.

sarcastrophe: Sabyen91: I didn't figure you would, you are pretty rational. Just glance at the thread and look at the class warfare among the right, though. Pretty cute.

The funny part is that measure they want cut out of the bill directly helps the lenders, not the people.

Ok, I did. I still don't see how you interpreted that as helping the people? They have already been forclosed. That is a mea culpa. Now, they are going to buy the properties from these companies.

Sabyen91: Eh, I didn't read the article. Somehow, I find it hard to believe Republicans want get rid of the part that helps the lenders. I will be RTFA.

Yeah... it surprised me as well:

"Administration officials said they oppose the inclusion of $4 billion in the measure to help states buy and rehabilitate foreclosed properties, and a plan to have government-sponsored mortgage giants Fannie Mae and Freddie Mac pay for the rescue."

Sabyen91: Ok, I did. I still don't see how you interpreted that as helping the people? They have already been forclosed. That is a mea culpa. Now, they are going to buy the properties from these companies.

That's what I said :)

sarcastrophe: Sabyen91: Eh, I didn't read the article. Somehow, I find it hard to believe Republicans want get rid of the part that helps the lenders. I will be RTFA.

Yeah... it surprised me as well:

"Administration officials said they oppose the inclusion of $4 billion in the measure to help states buy and rehabilitate foreclosed properties, and a plan to have government-sponsored mortgage giants Fannie Mae and Freddie Mac pay for the rescue."

They aren't rescuing the buyers, they are rescuing the lenders. The buyers are out of the picture. They have been kicked out by the banks.

Sabyen91: They aren't rescuing the buyers, they are rescuing the lenders. The buyers are out of the picture. They have been kicked out by the banks.

sarcastrophe: The funny part is that measure they want cut out of the bill directly helps the lenders, not the people.

sarcastrophe: Sabyen91: Ok, I did. I still don't see how you interpreted that as helping the people? They have already been forclosed. That is a mea culpa. Now, they are going to buy the properties from these companies.

That's what I said :)

Heh, you are right. Duh. I will be over in the corner...

I am fine with the vetoing in this case and you can be sure that is the first and last time I will say that. Unless there is something back room about it (sorry, I don't trust Republicans at all).

Then again, they are refusing to pay for a problem they and their deregulation caused. They had better start regulating again or it is just washing their hands of their own problem.

Sabyen91: Then again, they are refusing to pay for a problem they and their deregulation caused. They had better start regulating again or it is just washing their hands of their own problem.

Slow down captain. Both sides of the aisle can take blame on this one.

sarcastrophe: Sabyen91: Then again, they are refusing to pay for a problem they and their deregulation caused. They had better start regulating again or it is just washing their hands of their own problem.

Slow down captain. Both sides of the aisle can take blame on this one.

Really? How so?

What's a money launderer supposed to do now? Go into oil speculation?

Sabyen91: Really? How so?

I'll let you read it from your fearless leader:

Speaking at Cooper Union in Manhattan, Mr. Obama blamed Democrats no less than Republicans for the crisis that now casts a shadow of foreclosure and insolvency over millions of Americans. He did not mention former President Bill Clinton by name, but the target of his criticism seemed clear.

"Under Republican and Democratic administrations, we failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices," Mr. Obama said. "The result has been a distorted market that creates bubbles instead of steady sustainable growth, a market that favors Wall Street over Main Street but ends up hurting both."

Link (new window)

Oh right.... the NYT thing

http://www.nytimes.com/2008/03/28/us/politics/28dems.html

sarcastrophe: Sabyen91: Really? How so?

I'll let you read it from your fearless leader:

Speaking at Cooper Union in Manhattan, Mr. Obama blamed Democrats no less than Republicans for the crisis that now casts a shadow of foreclosure and insolvency over millions of Americans. He did not mention former President Bill Clinton by name, but the target of his criticism seemed clear.

"Under Republican and Democratic administrations, we failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices," Mr. Obama said. "The result has been a distorted market that creates bubbles instead of steady sustainable growth, a market that favors Wall Street over Main Street but ends up hurting both."

Link (new window)

You seem to think that I consider Bill Clinton a Democrat :)

sarcastrophe: Slow down captain. Both sides of the aisle can take blame on this one.

Really?
This crisis is the logical consequence of deregulation. End.

If you can show me that this credit crisis has been endemic and ongoing since the beginning of the mortgage loan industry, I'll change my view. But it hasn't. A change occurred to create it. The reality of the situation is that this crisis never would have occurred were it not for deregulation.

Notabunny: Really?
This crisis is the logical consequence of deregulation. End.

If you can show me that this credit crisis has been endemic and ongoing since the beginning of the mortgage loan industry, I'll change my view. But it hasn't. A change occurred to create it. The reality of the situation is that this crisis never would have occurred were it not for deregulation.

When did I say otherwise?

sarcastrophe: Notabunny: Really?
This crisis is the logical consequence of deregulation. End.

If you can show me that this credit crisis has been endemic and ongoing since the beginning of the mortgage loan industry, I'll change my view. But it hasn't. A change occurred to create it. The reality of the situation is that this crisis never would have occurred were it not for deregulation.

When did I say otherwise?

He is saying the Republicans deregulated. That isn't exactly a liberal platform.

Sabyen91: He is saying the Republicans deregulated. That isn't exactly a liberal platform.

1 quick google search later... (new window)

sarcastrophe: Sabyen91: He is saying the Republicans deregulated. That isn't exactly a liberal platform.

1 quick google search later... (new window)

Makes me like Obama more and makes me despise Clinton more. Carter...well, he was between a rock and a hard place.

sarcastrophe: When did I say otherwise?

My misinterpretation. Sorry.

Sabyen91: Then again, they are refusing to pay for a problem they and their deregulation caused. They had better start regulating again or it is just washing their hands of their own problem.

could you make up your mind?

"Republicans EVIL corporate hookers!"
"Oh wait, they are actually blocking such legislation? backroom deal"
"Hmm..No, it appears to be legit, they are blocking bad legislation which will give a substantial bailout to a company that provided under the table kickbacks to some members of this committee."
"Well, Republicans STILL CAUSED THE PROBLEM TO BEGIN WITH"


Has your head asploded yet from sheer partisanship?

JaMorg: Has your head asploded yet from sheer partisanship?

You forgot:

"You mean the democrats actually had a hand in it?"
"Well, Obama is going to save us all"