the_grip on 7/12/2007 at 06:02

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Thanks a hell of a lot for showing your hand as a populist posturing administration with your latest move - the "bailout".

Thanks that because i made a sensible choice and went with a fixed rate i now made the bad decision (i would have saved 2% by joining the ARM blockheads).

Thanks, too, for trying out price controls that fail every time... did anyone in the administration go to economics 101?

Thanks for ensuring that the housing inventory glut will continue to remain high now that the market cannot naturally correct itself... great job, sir.

And, finally, thanks for sending our troops to die for nothing so that we can focus on populist issues and not address the financial problems at hand.

This administration is shit. Rum is good, though... maybe i've had too much tonight.

Ko0K on 7/12/2007 at 07:18

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Failure is his legacy, my friend.

The_Raven on 7/12/2007 at 14:18

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Beat ya STDs are up too.

The_Raven on 7/12/2007 at 15:39

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That's not supposed to go in there! :mad: :mad: :mad:

Rug Burn Junky on 7/12/2007 at 16:28

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Sneering sarcasm works better when you know what the fuck it is you're talking about, and this time, you don't. Before you start bitching about "economics 101" try reading, it's a skill most of us learned in kindergarten.

Besides the fact that as Starreh pointed out, odds are it wouldn't have reached you, it's not even a "bailout." It's a set of voluntary recommendations for the investors to decide when to offer relief which they were already able to do. While, as a matter of course, many servicers will foreclose rather than modify the terms of a loan, it's not always in their best long term interest to do so. This is trying to encourage them to do otherwise. It's the banks coming together, with a little armtwisting from the government, and setting standards to agree how to handle these loans.

On top of which, I don't think you realize just how serious the mortgage crisis is, nor do you understand the consequences of any "bailout" or relief. The problem is bigger than some trailer park trash who overleveraged themselves into the new construction ranch home of their dreams.

"wah, wah, wah, housing glut, wah, wah" Nevermind the fact that that's not the likely outcome, when was the last time you hung around an investment bank on wall street? Yeah, I'm sure you're not crying for the guys that are losing their jobs, but it's a bigger issue than that, they're losing their jobs because there's no liquidity in the market. People aren't lending at any level. I'm talking about the billion dollar deals that move our economy, they've slowed to a trickle.

Yeah, Bush & Co have been ineffective. But you have no fucking clue why in this instance. Don't complain about things you don't understand.