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Deity
Dance Dance for the Revolution!
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Jan 1970
time: 02:32
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Pretty much sums it up. Both a sizable number of dems and repubs rejected the measure.
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Emperor
of munchkind land
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Jun 2002
time: 07:32
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It was a stupid idea.
waive all capital gains until they figure something out
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Emperor
Maryland
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Nov 2000
time: 01:32
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Bailing out wealthy CEOs for their dumb mistakes would have made as much sense as bailing out home owners who made their own dumb mistakes.
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Deity
Dance Dance for the Revolution!
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Jan 1970
time: 02:32
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Bite me, Palin-worshipper.
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Deity
Oregon Coast, USA! or Bohol, Philippines!
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Apr 1999
time: 07:32
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Riesstiu, w h a t T H E * * * * i s T H A T???
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I want to make looking at my posts a most unsettling experience as possible.
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Emperor
Maryland
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Nov 2000
time: 01:32
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Someone should create an animated avatar of dividedwefail's elephant-donkey mascot.
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Emperor
of Ice Cream
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Mar 2000
time: 01:32
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Dosen't beat Laz's eye.
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Emperor
of the Krauts
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Mar 2000
time: 08:32
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Is it just me or is there a weird wish to see the own economy or at least the financial system suffer from all this? Ya know, talking about the wealthy guys taking it is all great, but does US politics now just sit back and watch how things play out?
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Emperor
Antwerp, Colon's Chocolate Canard Country
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Jan 1970
time: 08:32
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They're just being horrendously pretentious.
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Deity
Lurking occasionally
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Mar 2003
time: 23:32
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Bush isn't helping by speaking to the nation again. As usual he deserves most of the blame.
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Deity
Kneel before Grog!
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Jul 2001
time: 02:32
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Actually, I really don't think that's true. And I loathe the man.
-Arrian
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Deity
Oregon Coast, USA! or Bohol, Philippines!
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Apr 1999
time: 07:32
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Look at the guy with the mask. Terrorist.
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Emperor
Charleston, SC No more ships! A lot more drinking!
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Dec 2001
time: 07:32
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In order for us to emerge healthy from this mess, those people need to be out of their homes.
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Deity
Lurking occasionally
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Mar 2003
time: 23:32
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quote:
Originally posted by Lancer
Look at the guy with the mask. Terrorist. |
Paulson? It does look like him!
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Deity
Lurking occasionally
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Mar 2003
time: 23:32
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quote:
Originally posted by Patroklos
In order for us to emerge healthy from this mess, those people need to be out of their homes. |
Any reason you believe that?
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Emperor
Charleston, SC No more ships! A lot more drinking!
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Dec 2001
time: 07:32
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quote:
Any reason you believe that? |
The people can't afford them, so why burden them with it? People who bought homes with teaser interest rates and no down payment are no less at fault than the banks who offered such terms in the fist place. BOTH need to be purged.
Home ownership simply doesn't make sense for some people. There is nothing wrong with renting when it does make sense (I am one of these people). This home ownership is the end all be all BS has ruined so many lives it is ridiculous.
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Deity
Lurking occasionally
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Mar 2003
time: 23:32
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I was really interested in how you think that's going to help.
It seems to me that most of the people losing their homes were paying what they could. Now a lot of those people aren't paying anything at all. The banks are losing because they have to have firesales. The only people who make out are the speculators.
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Deity
Lurking occasionally
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Mar 2003
time: 23:32
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quote:
Originally posted by Victor Galis
Not exactly sure how you bail out people not banks in a quick and efficient manner that eases the credit crunch...
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Yeah, some of them are hooked on credit like a drug. They still want to be able to buy things that they can't afford. The credit industry is way too big at this point. Everything the credit industry makes is sucked off of the rest of us. We can't continue like that forever.
quote:
that and the idiots who took out mortgages that they couldn't afford aren't any better than the CEOs.
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I won't bother to say who's better, a CEO of a financial corporations, or a regular person like myself, but I'm going to side with the regular person like myself everytime. Also, it's much worse to lose your house than it is to loose your job when you are already rich.
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Deity
Kneel before Grog!
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Jul 2001
time: 02:32
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quote:
that and the idiots who took out mortgages that they couldn't afford aren't any better than the CEOs |
I'm pissed at stupid people too, but I'd hold the CEOs to a higher standard. They're supposed to be experts.
Perhaps there is merit to the idea that "distressed" mortgages should be renegotiated. Salvage what you can for both parties (both of whom ****ed up). Neither will like it, but both can live with it. Some will be unsalvagable, and that's just dead wood you need to clear.
Then, going forward, put an end to some of the more ridiculous practices that were going on.
The thing is, the mortgage renegotiation thing will take a while, right? Apparently, the key to the bailout is that it needs to happen fast to recapitalize banks *right now* to stave off a credit crisis that will quickly result in a ton of lost jobs (and a whole lot more people who now can't make their payments). Am I misunderstanding this?
-Arrian
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Emperor
Charleston, SC No more ships! A lot more drinking!
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Dec 2001
time: 07:32
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quote:
I was really interested in how you think that's going to help. |
Not having people pouring out their lifes blood to pay for mortgages that are breaking them through their greed and/or pride maybe?
Rent something marginally smaller for half the cost and bank the remiander for a down payment/fixed interest rate homer purchase in ten years. Oh, and have a resevior of cash available until you buy in the meantime.
quote:
Perhaps there is merit to the idea that "distressed" mortgages should be renegotiated. Salvage what you can for both parties (both of whom ****ed up). Neither will like it, but both can live with it. Some will be unsalvagable, and that's just dead wood you need to clear. |
I am not against helping homeowners with 1.) a fixed rate 2.) a proper down payment and 3.) a respectable income/debt ratio at time of purchase. If you lack any of those three, **** you.
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It's working
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