This bill going down HAS to hurt mccain

#52
#52
KB5252 said:
100 million is not a spit in the ocean. Practices just like earmarking for purely partisan reasons is exactly the type of thing that got us in this mess to begin with. While we are trying to stay afloat we have our government doing the very thing that got us in this mess, being irresponsible with other peoples money! I see that as a very big deal be they repub, dem, or independant.

Further those that attached that earmark or any other, especially on this bill should have been asked to leave the chambers and had all money paid to them by our government seized, then they should be dismissed permanently!
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I admire your ideals, but that ain't the way it works. Nothing happens without a quid pro quo. That's Democracy, baby!!!

also, $100 million is .0001% of the bill.
 
#53
#53
TennNC said:
If Clinton started it, Bush threw gas on it. It certainly lines up with his stated philosophy of an "Ownership Society."

Ownership society - Wikipedia, the free encyclopedia

And just to be clear, I'm not blaming the Bush administration for it. I think there's equal fault with a lot of this right now.
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Bush has been about a lot of things that I find just revolting. He could have made a point to slam a door on this kind of garbage, given that people have been crying foul since the late 90s, but chose to ignore the issue forever.

The bottom line is that we understand very well basic underwriting and the basic fundamentals of the residential housing market, but we chose to ignore them, starting with Fannie for some ideological hogwash. We're now going to pay for it and the equity holders of all of our major financial institutions have already paid an enormous price to date.
 
#54
#54
TennNC said:
I admire your ideals, but that ain't the way it works. Nothing happens without a quid pro quo. That's Democracy, baby!!!

also, $100 million is .0001% of the bill.
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but you can definitely see a Republican refusing to affirm based just upon this little add.
 
#56
#56
droski said:
the market is down $1 trillion today. 100 mill IS a drop in the bucket.
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and that, boys and girls, is why the passage of this thing matters.

Wanna reduce some gov't receipts, hand out $1 trillion in capital losses to the world. That's some big tax shelter for some rich folk, who aren't a dime poorer for the loss.
 
#57
#57
I agree. If we allow this bill to pass now, banks will do it again. The truth to this, in my opinion, is that the financial institutions made a horrible business decision. Their plans failed them, and the government wants to bail them out. We do not have a true capitalistic economy, but this nation has allowed these businesses to do what they want. Now that they have, the decisions they have made will end them. It took 9/11 to ruin the airlines, but we did not bail out all of them. So once again I agree with you that our nation should allow these financial institutions to go bankrupt.
 
#58
#58
Mattvol22 said:
I agree. If we allow this bill to pass now, banks will do it again. The truth to this, in my opinion, is that the financial institutions made a horrible business decision. Their plans failed them, and the government wants to bail them out. We do not have a true capitalistic economy, but this nation has allowed these businesses to do what they want. Now that they have, the decisions they have made will end them. It took 9/11 to ruin the airlines, but we did not bail out all of them. So once again I agree with you that our nation should allow these financial institutions to go bankrupt.
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You really think those in the banks who survive this are going to underwrite homes willy nilly again?

They have destroyed all of their capital and crushed equity holders to nothing. I guarantee you that there will be systemic change in the financial sector regarding mortgages.
 
#59
#59
BigPapaVol said:
You really think those in the banks who survive this are going to underwrite homes willy nilly again?

They have destroyed all of their capital and crushed equity holders to nothing. I guarantee you that there will be systemic change in the financial sector regarding mortgages.
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No, I agree with you. The financial sector will change mortgages, but not without learning from their mistakes. It is just like a child, you can tell him no 100 times, but he does not learn til he burns his hand.
 
#62
#62
This is the frustrating part - the original plan (with some oversight mods) addresses the pressing issue. Congress can address the other issues afterwards but they (and we) can't seem to separate the two.

Stop the bleeding then fix the underlying causes. What's so hard to understand about that?
 
#67
#67
Why only blame the 133 republicans NC? If I were a card carrying socialist, I'd be far angrier at the 95 dems that voted no...
 
#68
#68
BigPapaVol said:
You really think those in the banks who survive this are going to underwrite homes willy nilly again?

They have destroyed all of their capital and crushed equity holders to nothing. I guarantee you that there will be systemic change in the financial sector regarding mortgages.
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just wait a generation until the people retire and new ones come on. my sister and others still believe that home prices never go down in santa barbara, san diego, etc despite current evidence. you say it enough times, no matter how ridiculous, and people will believe anything.
 
#69
#69
droski said:
just wait a generation until the people retire and new ones come on. my sister and others still believe that home prices never go down in santa barbara, san diego, etc despite current evidence. you say it enough times, no matter how ridiculous, and people will believe anything.
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Man I feel for all those people that bought into the bubble on the West Coast. My sister lives in San Diego, prices were nuts.
 
#70
#70
rwemyss said:
Why only blame the 133 republicans NC? If I were a card carrying socialist, I'd be far angrier at the 95 dems that voted no...
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follow the thread.

wasn't blaming the 133 repubs. just saying that not all of them opposed it simply b/c of the ACORN earmark.
 
#72
#72
TennNC said:
follow the thread.

wasn't blaming the 133 repubs. just saying that not all of them opposed it simply b/c of the ACORN earmark.
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Most opposed it because they want to be re-elected! At least 2/3rds of the Senate is safe.
 
#73
#73
BigPapaVol said:
absolutely. But poor folk and first time home buyers will struggle to buy homes. That's a very good thing, IMO.
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we all need to live within our means. and if a home is not the wisest investment to grow one's wealth, there should be alternate opportunities for all.
 
#74
#74
volinbham said:
Most opposed it because they want to be re-elected! At least 2/3rds of the Senate is safe.
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okay - so you're referring to Repubs and Dems alike, who must have very different reasons for opposing it.

what's the solution?
 
#75
#75
TennNC said:
okay - so you're referring to Repubs and Dems alike, who must have very different reasons for opposing it.

what's the solution?
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Let the system work, this generation is greedy and self serving.

It is about time to learn a life lesson the hard way.

:)
 
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