Here we go again... govt telling banks to "loan"

Mr Bogus

Mr Bogus

Trouble Makers Inc.
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Obama: Time for banks to boost lending - U.S. business- msnbc.com

President Barack Obama challenged top bankers Monday to explore "every responsible way" to increase lending, saying they were obliged to help after being rescued by taxpayers
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I will say it again.. our govt can not run its own biz and here they go, telling other industry "how to do it" the Govt way...

holy crap... did they not learn the first time..?? subprime lending was a forced loan program that got us into this mess to start with...
 
So what is the gov. for? They sit back and don't do nothing they get blasted at and if the intervene the get blasted at!
 
Haya01B said:
So what is the gov. for? They sit back and don't do nothing they get blasted at and if the intervene the get blasted at!
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you can not walk up to a bank and tell them to "loan money"...

I do not know if you have ever tried to get a commercial loan but they like to make sure they are going to get their money back... Most new startups go bust in the first 2 years... That makes "start up" loans very risky to start with.. you want to pay for those losses too?

Subprime lending was an attempt by the govt to get "every American" into a home of their own. Most of the people that are in forclosure on this program could not afford the loan they got or figured it was a gift they would not have to pay back.... it brought the country to its knees and it is going to take years to recover...

Any home owner who has a neighbor that has had their principal reduced by 30-50% so that the guy can make his payments should be outraged...

Now the govt is going to try and force banks to make biz loans it finds risky or not safe? uh huh.....
 
CRA- community re-investment act.....

was the beginning of the sub-prime loan disaster. congress wanted to make homeownership available to everyone, whether they could afford it or not....

they blackmailed wall st. into taking thse loans, and then acted surprised when wall street figured out how to limit thier risk....and even make money on these bad loans.


nobody wants to admit that no matter how many times a bad mortgage is bundled, sold and then rebundled and sold.....it does not hurt anyone until the loan goes into default,

so in plain english....if all those people gardners claiming they made $100k had just kept making thier payments...all would be good.
 
Mr Bogus said:
you can not walk up to a bank and tell them to "loan money"...

I do not know if you have ever tried to get a commercial loan but they like to make sure they are going to get their money back... Most new startups go bust in the first 2 years... That makes "start up" loans very risky to start with.. you want to pay for those losses too?

Subprime lending was an attempt by the govt to get "every American" into a home of their own. Most of the people that are in forclosure on this program could not afford the loan they got or figured it was a gift they would not have to pay back.... it brought the country to its knees and it is going to take years to recover...

Any home owner who has a neighbor that has had their principal reduced by 30-50% so that the guy can make his payments should be outraged...

Now the govt is going to try and force banks to make biz loans it finds risky or not safe? uh huh.....
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Exactly...
 
Bogus can you loan me some $ :laugh:
Im going broke in heating bizz
Go turn up your heat I need $$

1260795109208.gif
 
NIGHTFLIGHT said:
Bogus can you loan me some $ :laugh:
Im going broke in heating bizz
Go turn up your heat I need $$

1260795109208.gif
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Tell you what I am going to do...


I am going to loan you 110% of your request so you can make payments for the first few months (so my constituency wont complain right away)

About the time you go broke and stiff the bank I forced to make the loan to you in the first place? well they will come to us for more money too so that will make it ok....

We will just take it away from the folks making their payments on time... :rofl:


yea screw them taxpayers.... they are soooo gulible...
 
yes... goverment for you again, telling the banks and mortgage companies what to do and bail them out and give them all these money to help the homeowners,that is all bull$$33!
i just found out that my home loan modification was denied, they won't tell me why because they did not even do anything with it, they are just taking all the money goverment give them to get richer :moon:
my next option is shortsale since i am upside down and obviousley the bank will decline that too, so the next will be forclosure!
oh..fu## it i am just tired all these bull#### becuase i did not cause it and i have to suffer for it.
 
shawnski said:
yes... goverment for you again, telling the banks and mortgage companies what to do and bail them out and give them all these money to help the homeowners,that is all bull$$33!
i just found out that my home loan modification was denied, they won't tell me why because they did not even do anything with it, they are just taking all the money goverment give them to get richer :moon:
my next option is shortsale since i am upside down and obviousley the bank will decline that too, so the next will be forclosure!
oh..fu## it i am just tired all these bull#### becuase i did not cause it and i have to suffer for it.
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they will never have your best interest at heart... only what will get them ahead...

you get caught in legitimate circumstances and then get screwed because you are the wrong race, in the wrong part of the country or the wrong industry....

just wait till your health care is in their hands...
 
Mr Bogus said:
they will never have your best interest at heart... only what will get them ahead...

you get caught in legitimate circumstances and then get screwed because you are the wrong race, in the wrong part of the country or the wrong industry....

just wait till your health care is in their hands...
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LMMFAO.
Bogus in attitude, not just name.
The government is wrong when they do something, wrong when they do nothing.
Tell ya what, since you have it all figured out why don't you run for the presidency, and then all the people that are in the right part of the country, the right industry and of the right race will be taken care of.
Oh wait, you don't have any experience in government so you wouldn't be the right guy for the job.
 
Mr Bogus said:
they will never have your best interest at heart... only what will get them ahead...

you get caught in legitimate circumstances and then get screwed because you are the wrong race, in the wrong part of the country or the wrong industry....

just wait till your health care is in their hands...
Click to expand...

amen... they rather forclose your home than help you with any other plans, this is the fact... all these nonsense letters they send you that they want to help is bunch of bolonies, the bank investors know what is the best for them!
if they forclose my home and don't give me a chance with shortsale, that house won't look pretty after i leave and yes i am serious about it..i am very pi$$ed right now! :banghead:
 
Mr Brown said:
LMMFAO.
Bogus in attitude, not just name.
The government is wrong when they do something, wrong when they do nothing.
Tell ya what, since you have it all figured out why don't you run for the presidency, and then all the people that are in the right part of the country, the right industry and of the right race will be taken care of.
Oh wait, you don't have any experience in government so you wouldn't be the right guy for the job.
Click to expand...

So what would be your solution to the current problems facing America today, regarding the economy in particular ?

I will start it off with a few of my own, then we can go from there.

1. The Government should be in place for the main reason of protecting our country from all enemies, foreign and domestic.

2. The government role in the private sector should be strictly limited, and it's main function would be to enforce rules/laws designed to prevent major abuses in that sector.

3. At no time would the government be allowed to coerce, or otherwise pressure the private sector to act in a certain way, offer assistance, etc., unless it is voted on and approved by a majority of the American people..

I believe the government has grown way to large, controls way to much of what we do, and needs some major trimming.. Government is essential to the country, but moderation is the key IMHO...
 
shawnski said:
amen... they rather forclose your home than help you with any other plans, this is the fact... all these nonsense letters they send you that they want to help is bunch of bolonies, the bank investors know what is the best for them!
if they forclose my home and don't give me a chance with shortsale, that house won't look pretty after i leave and yes i am serious about it..i am very pi$$ed right now! :banghead:
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So you have a house you can't afford and will tear it up to teach them a lesson? Where's self responsibility anymore. That's the biggest problem nowadays.
Posted via Mobile Device
 
mattstang said:
So you have a house you can't afford and will tear it up to teach them a lesson? Where's self responsibility anymore. That's the biggest problem nowadays.
Posted via Mobile Device
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I agree... Personal responsibility is a huge, and important part of America. :thumbsup:
 
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