Disgusted!
Posted: Thu Oct 09, 2008 2:47 pm
Is anybody else as disgusted by the so-called "bailout" plan as I am? I am so excited my great-great-great grandkids have the fortune of inheriting this wonderful, well-thought out plan. Not to mention all the added "extras' that had to be written in just so the crusty old cranks in DC would vote yes. But what really irks me is had I decided to go out and buy a house outside of my means and sign for a loan that really wasn't worth the paper it was printed on, I would now probally be being rewarded for my incredibly stupid decision with my daughters future tax money.
So, I propose that all the rational people that didn't risk everything on a "too good to be true" loan, should be rewarded with a house. I mean why not? The govt is "giving" away rewards to all the people that didn't follow the rules. I don't think it's fair we leave out those good sensible Main St. folk. And for everyone that already has a house, but bought it because they could AFFORD it, I propose the govt should reduce their mortgage to 90% of the original loan value and reduce their current interest rate. If we are giving away our future, might as well give it away to the people that are actually paying for it!
We are quick to blame this entire fiasco on the greed of Wall St. However, way too many people bought houses they had no right to buy. I am more than irritated knowing that my foreclosure facing neighbor is getting a lifesaver thrown to him for his bad decision. And what really pisses me off more, is how so many bought houses they couldnt afford, gained equity too quickly, took equity loans and made upgrades or bought toys and took vacations. Now they are getting their loans reduced and are able to stay in their house with all their new toys and upgrades. If I understood my neighbor correctly, his "new" loan will be for for 90% of the propertys current value, not the value he originally signed for. Plus, he is out of previous subprime interest rate into a new lower, non-adjustable rate. How is this possible and where do I sign up?
I am a very frustrated, responsible decision making taxpayer that wishes we could rewind the clock back to a time that our "representative govt" was not filled with career politicians.
I do plan on voting in November, but at this point I don't think it really makes a difference if I mark the D box or the R box....ugh!
Anybody care to sway my vote?
So, I propose that all the rational people that didn't risk everything on a "too good to be true" loan, should be rewarded with a house. I mean why not? The govt is "giving" away rewards to all the people that didn't follow the rules. I don't think it's fair we leave out those good sensible Main St. folk. And for everyone that already has a house, but bought it because they could AFFORD it, I propose the govt should reduce their mortgage to 90% of the original loan value and reduce their current interest rate. If we are giving away our future, might as well give it away to the people that are actually paying for it!
We are quick to blame this entire fiasco on the greed of Wall St. However, way too many people bought houses they had no right to buy. I am more than irritated knowing that my foreclosure facing neighbor is getting a lifesaver thrown to him for his bad decision. And what really pisses me off more, is how so many bought houses they couldnt afford, gained equity too quickly, took equity loans and made upgrades or bought toys and took vacations. Now they are getting their loans reduced and are able to stay in their house with all their new toys and upgrades. If I understood my neighbor correctly, his "new" loan will be for for 90% of the propertys current value, not the value he originally signed for. Plus, he is out of previous subprime interest rate into a new lower, non-adjustable rate. How is this possible and where do I sign up?
I am a very frustrated, responsible decision making taxpayer that wishes we could rewind the clock back to a time that our "representative govt" was not filled with career politicians.
I do plan on voting in November, but at this point I don't think it really makes a difference if I mark the D box or the R box....ugh!
Anybody care to sway my vote?