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TexasTruBlu's Fortress of Solitude

by TexasTruBlu from Southern Denton Co

Last Post 1 day, 4 hours Ago


Disturbing
Oct 2, 2008 | 10:43 PM
Category: Political
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Because I am busy writing my tests for tomorrow, I have only caught bits and pieces of the debate. But I did hear something disturbing. At one point, Biden said that he and Obama would support a policy for bankruptcies that would allow the judge to lower the interest rates AND lower the principle. Excuse me. Someone buys a house for $250K, defaults on the loan
AND THEN A JUDGE CAN CHANGE THE AMOUNT OWED?
That may help delinquent, irresponsible homeowners who bought too much house for their income, but it
STILL LEAVES LENDERS HOLDING THE BAG.
And since lenders get their money from those of us who are silly enough to save it in banks, that means WE LOSE. It also means more bank defaults. So the Democrats are supporting a policy that will make careless borrowers happy, but it will strip any profits from banks and that means lower interest and return on OUR INVESTMENTS. Does this sound good to you? Or is it, as I suspect, socialism gone amok. Even more worrisome is that most judges are either elected or appointed. Which means that judges basically can be bought. Color me worried.
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Member Comments Total Comments: 13
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ChatterBug read my blog view my photos
Oct 2, 2008 | 11:08 PM

TTB,
I raised my eyebrows on that too. I don't understand...why must we live in a country of bailouts, entitlements and welfare/handouts. It's a slap in the face to the rest of us hard working LEGAL citizens and Americans.
And yes, just as any politician, most can be bought...sad but true!
voodooiam read my blog view my photos
Oct 2, 2008 | 11:36 PM

Spot-on! I work for a credit union that never participated in "creative lending", but those were my thoughts exactly! The lender did write a check for that amount, and to "forgive" and "lower" the PRINCIPAL just throws that banking industry into more turmoil. What a stupid statement!
TexasTruBlu read my blog view my photos
Oct 3, 2008 | 12:12 AM

Here is the exact word for word can't wiggle out of it quote:
"we should be allowing bankruptcy courts to be able to re-adjust not just the interest rate you're paying on your mortgage to be able to stay in your home, but be able to adjust the principal that you owe, the principal that you owe. That would keep people in their homes, actually help banks by keeping it from going under"
illusionsssss read my blog
Oct 3, 2008 | 12:37 AM

I asked my BF about that....like....."So it only applies if you are behind....NOT if you want to change your payments to like 2 days later?" My BF said it was ONLY for those behind in payments.

What an incentive for me to get behind!!!
babysister138 read my blog view my photos
Oct 3, 2008 | 6:56 AM

Why aren't the lenders being held accountable for giving loans to people that can't afford them?
Dak413 read my blog view my photos
Oct 3, 2008 | 7:38 AM

I found that disturbing, it makes Me wonder how far the Dems will prop up all this mortgage mess, to get votes , that is the kind of thing that is destroying the economy of this country , stupid welfare programs that fleece the American working people !
scottythecomic read my blog view my photos
Oct 3, 2008 | 7:57 AM

It's sheer madness. Why would anyone want to stay current?
Dak413 read my blog view my photos
Oct 3, 2008 | 8:14 AM

and the lenders, did they really have choice ? I don't think so , I think the government bludgeoned them into making these loans to uphold the CRA, and the Clintons NHS, , government an apply leverage to these institutions , to get them to make these ill fated loans , and this was done under Dem administrations CRA under Carter , and NHS under Clinton, does all this sound like the Dems are really working for the middle class, when all they have accomplished is making it harder for the working middle class to get the loans they need to buy homes and cars, it has been a major screw up by the Dems, to buy votes, as all this goes forward, there is going to be even more scrutiny on loans , making credit even more difficult !
TexanInfidel read my blog view my photos
Oct 3, 2008 | 8:59 AM

Disturbing indeed, TTB. It is just another example about how Obama/Biden think that more government is the answer to our wreckless behavior. There is no more personal accountability - government will save you from yourself, you big dumb rednecks.
TexanInfidel read my blog view my photos
Oct 3, 2008 | 9:00 AM

And I did love how Palin attacked predatory lenders, then called on us as borrowers to learn from our mistakes. Perfect.
bink765 read my blog view my photos
Oct 3, 2008 | 10:36 AM

TI, that portion of the debate about personal responsibility and NEVER AGAIN was a very positive portion of the debate last night.
TexanInfidel read my blog view my photos
Oct 3, 2008 | 11:18 AM

yep!
UCantHandleThisTruth read my blog
Oct 3, 2008 | 11:21 AM

TTB

Yes, just sickening.

But its part of the "no responsibilty, "WE'RE ALL RESPONSIBILE" ATTITUDE THAT FLOWS FROM THE "IT TAKES A VILLAGE TO RAISE A CHILD CROWD"

WHEN "EVERYONE'S" RESPONSIBLE, NO ONE IS HELD ACCOUNTABLE.

LOVELY
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TexasTruBlu

I am a teacher, a mother and wife and I like to think I am a pretty good citizen. I read ALOT. I also write a good deal on various blogs. I appreciate a chance to respond to what we see in the news. I think that by posting our opinions we can probably find that everyone is more alike than we are willing to admit. Face it, people just like to argue. I would also like to say how much I appreciate having a forum for my views.

Member Since: 7/25/2006


 

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