700 BILLION DOLLAR BILL MUST READ

[PYRODIN123321]

HOW BOUT WE JUST START KICKING THEIR ASSES WHEN WE SEE EM

TAKE OUR MONEY BACK RIGHT OUT OF THEIR FAT WALLETS, I MET SMITH BARNEY THE STOCK GUY FOR CITIBANK, I COULD OF KICKED HIS ASS, BUT I DIDNT KNOW WHO HE WAS AT THE TIME.

ACCIDENTLY STOOD HIM UP FOR A SIT DOWN TO BUY SOME STOCK,  HAHA, I THOUGHT HE WAS JUST SOME ASS WORKIN FOR CITIBANK SO I BLEW OFF THE APPOINTMENT!

[hakware]

While Rome burns.......

The 700 Billion is not really gone. The money has been spent by banks to allow people to buy homes for which they could not afford for much more than they were worth.

Economics 101

For instance when you buy a home you promise to pay the bank X amount of dollars over X amount of time. The bank then pays the builder or property owner that money. Where that money goes from there is any ones guess (houses and lots, whore houses and lots of whiskey?). Anyway the bank then will take that paper and either keep it or sell it off for a reduced amount of principle plus mature interest that loan would collect. 

now here lies the problem, when you don't make your payments on that house loan the bank has to kick you out of the house and then try to resell the property to collect on the note.. The bank then tries to sell that home. But at this current time this home is now worth much less than what you paid for and the bank now has to sell it at a loss, This bank would be fanny Mae or Freddie mac. the people who underwrote most of the home loans. Eventually with as many foreclosures as there are you go broke.

Now there are two people who caused the economic problem:

#1 The stupid shit making $30,000 a year who thought he could make payments on a $300,000 house
#2 The equally stupid loan manager who allowed the loan to go through.

It is the American "dream" to own a home but it is not a god given right. It is certainly not the governments obligation to help you make the payments on that loan you took out..

Predatory lending my ass..

[ResinRat2]

You hit the nail squarely on the head hakware.

It was the government's SOCIAL policies that "encouraged" (by policy) the banks to lower their stringent mortgage requirements and loan money to poorer and minority homebuyers. It was discriminatory to keep these people from owning a house in a good neighborhood. So they encouraged these people to buy houses too expensive for their incomes in the name of social justice. To hell with requirements! Give them the loans anyway!

So the result is this mess, perpetrated by socialists in my government, who stole the money for their failed social experiments from the pocketbooks of hard working citizens of the United States; and the Bailout was the fuel that will keep these policies going. This crisis was also the catalyst that now gave the government the power to buy up banks and failed loans. It is a power and capital grab like never before seen in the United States. The Nazi's are rising.

SICK!!!!!!!!!!!!!1

[PYRODIN123321]

i guess if you give out money people will take it regardless of the consequences, stupid,
like putting candy in front of a child and saying take only what you think you need
-of course they will take as much as they can and wonder why their stomach hurts!!!

[hakware]

Yep, Sad times lie ahead.