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dalbuc

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#30 : March 05, 2009, 11:20:33 PM

The American way is to buy anything you are allowed to buy.  There have to be controls in place to restrict the possibility of selling a house to someone who does not have the financial wherewithall to afford that house.

There are actually counter-incentives TO do this. The incentive should be that the bank'll lose their money but with things like the CRA they have to do so in order to keep getting money and when Freddie and Fannie were buying any stupid set of loans there was just no reason to stop.

All posts are opinions in case you are too stupid to figure that out on your own without me saying it over and over.
If you think Manziel is the best QB in this draft I can safely assume you are an idiot and will treat you as such.



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#31 : March 06, 2009, 12:22:16 AM

I blame Obama.

That is a start, the policies that this man is proposing are bringing down the system as we speak.  His answer to the mortgage crisis was to install more gov't spending through health care.  He and his economic advisers have flat out sucked at their ideas for correcting the economy by the out of control deficit spending.

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#32 : March 06, 2009, 09:32:32 AM


The American way is to buy anything you are allowed to buy.  There have to be controls in place to restrict the possibility of selling a house to someone who does not have the financial wherewithall to afford that house.

Wrong, wrong, wrong, wrong, wrong.

We already have a Govt that seems to think how much of my money it is 'fair' to keep and how much is 'fair' compensation for my highly valued skills and services. Now you want Govt to determine what is 'fair' how I spend it?
Why stop with houses? Why not cars? Or HD TV's?

If a bank makes a stupid loan, it loses money. If a person buys something they cannot afford, it gets repossessed. The banks will have learned from this and they will impose stricter controls themselves (if they survive of course) so it does not happen again, or at least reduce the probability of it happening again. Banks don't like losing money.

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