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MoeBedard (November 30, 1999 at 12:00 am)
its a tragedy on how the banks are put before the American people who fund the banks in the first place! My channel is chalk full of videos on how the banks have been scamming since before the recession. I'd appreciate if comments were made on my videos.
underbird (November 30, 1999 at 12:00 am)
Yeah more debt thats the answer. Maybe they could let us keep the money we earn instead?
orlock20 (November 30, 1999 at 12:00 am)
That's why I mentioned Keynesian economics. It has be the offical government policy for decades. I was in favor of direct government lending and not through some other party either. If the government bought out those foreclosed homes, it could have set any policy it wanted to the person trying to own the home even if it was rent to buy which I'm in favor of.
underbird (November 30, 1999 at 12:00 am)
Well unfortunately thats wrong. The depression was caused initially by the fed limiting the money supply and then by the endless government programs and regulations which were put forward to end it.Just let us, the people, keep our money and we will choose the winners and the losers. No govt is as efficient as the people when it comes to this.
orlock20 (November 30, 1999 at 12:00 am)
The problem wasn't the bailout. Keynesian economics believes the Great Depression became just that in part because there was no bailouts. What was needed was conditional lending. That's really how Warren Buffet made his money. It wasn't from holding stocks. It was conditional lending to start up businesses. Throwing money to greedy people won't do anything. Forcing them to repay the money later or face major problems such as jail time would have gotten something done.
orlock20 (November 30, 1999 at 12:00 am)
Low housing costs are good. households making $59,000 a year or less (75% of the households in the U.S. make that much), can only afford a $147,500 house as a rule of thumb. The average house in the U.S. was worth $292,600 in 2008. That means the household would need to be making $117,040 to afford it. A household making that much money is in the top 5%. So housing has to drop a lot more to be part of the American dream.
farmboycarl (November 30, 1999 at 12:00 am)
It's too bad that the media always portrays the victims of what's happened as poor uneducated minorities. The truth is, every homeowner in the world has lost equity, had their peace of mind destroyed, and seen their retirement resources evaporate as a result of this Wall Street ponzi scheme. Banks did everything in their power to assure people it was a wise decision to buy a home, and government kept collecting the fees on building permits. These are the same people whose job it is to protect us
packrellerey (November 30, 1999 at 12:00 am)
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ciro9 (November 30, 1999 at 12:00 am)
We The People (through the election process) should have equal seats and voting power on the Federal Reserve Board. The FED care's only of bailing out the CEO's of Wall Street & the Bank's.Not the familie's that are losing their homes to foreclosure.Enough of bailing out Wall Street and the banks with our money from the FED and we have no say in it. It's time we deep-six the FED for the sake of the working class people of our nation.
sparkleme1237 (November 30, 1999 at 12:00 am)
screw you...it is not that simple. And you know it. I think you feel guilty for living in the foreclosed home you now have because another family LOST IT. Con artists are JUST THAT...the banks,loan officers, realtors..all of them. so suck it up and be happy you're OK. |
