I'm so ***** mad I can't take it

[enjolras]

Watching the fall out from the bail out, and I can't fricking believe what I'm seeing. The government is providing mortgage assistance to a$$-hats who bought mortgages they couldn't afford. A few years ago my wife and I bought a house. We we're careful to get into a loan we could afford. We did everything right, and now we are being in a sense being punished. Our idiot neighbors who bought way over their heads get to ****ing profit at our expense. They get the same house for far less than we now have to pay.

I supported bailing out the credit markets to get cash flowing. This is giving idiots a god damn free ride.

I'm so damn pissed right now.

[Odysseus]

There is a long list of things to not like about this legislation. I got out of the stock market six months ago and am just watching in amazement.

It's a great time to invest if you don't need the money for five years.

We need a massive overall of our corporations and transparency. We, the American public, have a lot of work to do however if we lack patience (like we have demonstrated with Iraq) we will forget and again we will learn what we have forgotten.

[mhgaffney]

Very little of the money will go to prevent foreclosures.

95% of the money will go to the greedy bastards on Wall Street who caused the problem in the first place -- by not having adequate reserves to back their risky investments -- and also by passing on the toxic debts to others.

The little people who are getting hurt may have made mistakes -- by living beyond their means. True enough.

But this was the life style set up as the ideal by the powers that be in our nation.

The craziest thing of all is that the Dems are responsible for this reprehensible piece of legislation. Most of the Republicans opposed it.

The morale of this story: As I have pointed out -- there is no true opposition party in America.

MHG

[Mr.Meanie]

Originally Posted by enjolras

Watching the fall out from the bail out, and I can't fricking believe what I'm seeing. The government is providing mortgage assistance to a$$-hats who bought mortgages they couldn't afford. A few years ago my wife and I bought a house. We we're careful to get into a loan we could afford. We did everything right, and now we are being in a sense being punished. Our idiot neighbors who bought way over their heads get to ****ing profit at our expense. They get the same house for far less than we now have to pay.

I supported bailing out the credit markets to get cash flowing. This is giving idiots a god damn free ride.

I'm so damn pissed right now.

This is why I don't like the concept of the bail-out. If we just left this **** alone the free-market would fix this by itself, because:

The companies that got greedy would be out of business or severely damaged, while the smart conservative companies would expand and benefit from their prudence.

The smart consumers who didn't go crazy would benefit by having money and credit in a down-turn cycle while all the speculators and wild spenders would have to deal with the consequences of their actions. They would be one of the few people who would be able to take advantage of a down market.

There would probably be a painful recession for a while, but at the end we would come out of it much, much stronger than we were before. Instead of building wealth on a house of cards people would remember what happened and approach it in an intelligent way.... until the next generation forgets and gets caught up in another "irrational exuberance" bubble.

That's how the free-market is supposed to work...and even though there are downsides that's the ONLY way it works. Bailing people and large companies out this way does not fix the problem... the people who screwed up don't learn and it only perpetuates the idea that you can be greedy and stupid in a free market, and not have to face the consequences.

That's what makes me so absolutely sick about today's conservatives. How could anyone conservative who supports deregulation support ANY sort of bailout, or ANYTHING that effects the free market? I think most of the Republicans who call themselves conservatives now don't really know what it means anymore...they just follow what their party leaders (including Limbaugh, Hannity, Drudge...etc) tell them to think.

Sometimes they pay lip service, like "oh believe me I hate that Bush has trashed the Constitution and expanded government more than any other person in modern history...but those liberals would be worse"...and then race out to the polls and vote for the same people who say free-market and deregulation on one hand, and on the other hand act more liberal than any liberal in modern history. Its insane.

[Old Dude]

I understand exactly what you guys are saying. Sems very unfair, doesn't it?

But I suspect that with tightened credit all the way around, people who had to avail themseves of the bailout situations are going to have a harder time getting credit now and down the road, whereas the ones who lived within their means should ultimately benefit from their better standing.

We can only hope it works out that way.

[Rohirrim]

Unfortunately, if they allow all these mortgages to fail, property values across the board start going down.

[Taco John]

Originally Posted by Rohirrim

Unfortunately, if they allow all these mortgages to fail, property values across the board start going down.

They have to and still will. Property is still inflated, at least where I live. Only houses that are reasonably priced are moving right now. People that are still holding out for the big pay day are finding that it's not coming.

[Taco John]

[Mr.Meanie]

Wow I really like that guy