They all knew it would happen, but as long as the bank was making the commissions, they didn't care, it is called Greed, and de-regulation caused it, and the banks fed on it. Honestly, I would have let the banks fail, or made the stipulation, that any person that held a mortage with the bank receiving the money, must use the money to re-negotiate the mortage price owned on the property due to the downturn in the housing market. Imagine how many home owners could get there home refied at the price its worth now, and there different owned on mortage forgiven without credit hit, it's a win for the consumer, and lets others sleep a hell of a lot better at night, knowing there house isn't under water anymore, and if they wanted to sell, they could break even, and the bank wouldn't have to spend anymore money forclosing, and reselling property at lower balance just to get it off there books.
If they are going to use the rest of the stimulus package, then definite put that stipulation on it, and enforce it. I know it would help a lot out, including me. Z Edward E. Ziots Network Engineer Lifespan Organization Email: ezi...@lifespan.org Phone: 401-639-3505 MCSE, MCP+I, ME, CCA, Security +, Network + -----Original Message----- From: Dallas Burnworth [mailto:dallas.burnwo...@zones.com] Sent: Tuesday, January 13, 2009 10:57 AM To: NT System Admin Issues Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) +1 on this. Bail out the victims not the crooks. Think about it. I have a good job opportunity for you......sell mortgages to people that can't pay their bills!!! Who does that, or knowingly lets that happen? Somebody had to know what would happen. It's all mathematics. -----Original Message----- From: Ziots, Edward [mailto:ezi...@lifespan.org] Sent: Tuesday, January 13, 2009 7:50 AM To: NT System Admin Issues Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) I got a better one, Sorry but the folks that are running the banks should be heavily regulated, and subject to intense auditor scunity, mortage loans for underwater properties should be modified accordingly, to current purchase prices, and the %^*(%()_^ banks should eat the losses with the bailout money they have been given by the govt, instead of buying other banks, like they been doing, which would help a lot of folks out of bad mortages made by these banks to folks which fueled this greed and mortage mess in the first darn place. Also Congress shouldn't release another dime of the bailout until there is over-sight on where the money is going, either that, or the banks that received the money, there executives go to Federal Prison for corruption and do a lot of hard time, for there crimes, because every last one of them are guilty as hell.. And there is no such thing as good debt, period, its called debt for a reason, because you own someone something that you couldn't pay for right now... Z Edward E. Ziots Network Engineer Lifespan Organization Email: ezi...@lifespan.org Phone: 401-639-3505 MCSE, MCP+I, ME, CCA, Security +, Network + -----Original Message----- From: Micheal Espinola Jr [mailto:michealespin...@gmail.com] Sent: Tuesday, January 13, 2009 10:39 AM To: NT System Admin Issues Subject: Re: Would this be good for IT, or what? (UNCLASSIFIED) I know, its all rather anal at this point - but, I guess my underlying point here - if I realized I was trying to make one - is that we are again finding ourselves victims of marketing when we tell ourselves that there is such a thing as good debt. This is the first step in financial behavioral manipulation. -- ME2 On Mon, Jan 12, 2009 at 6:20 PM, Michael B. Smith <mich...@theessentialexchange.com> wrote: > Urf. > > Debt and credit (the use of) are mirror images of the same thing. You can't > have one without the other. > > Financial gain - financial independence - is about LEVERAGE. You either > "stand pat" on what you have, you leverage it, or you lose it. > > IMHO. YMMV. > > Regards, > > Michael B. Smith, MCITP:SA,EMA/MCSE/Exchange MVP > My blog: http://TheEssentialExchange.com/blogs/michael > I'll be at TEC'2009! http://www.tec2009.com/vegas/index.php > > > -----Original Message----- > From: Rod Trent [mailto:rodtr...@myitforum.com] > Sent: Monday, January 12, 2009 6:14 PM > To: NT System Admin Issues > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) > > Completely agree. > > -----Original Message----- > From: Micheal Espinola Jr [mailto:michealespin...@gmail.com] > Sent: Monday, January 12, 2009 6:06 PM > To: NT System Admin Issues > Subject: Re: Would this be good for IT, or what? (UNCLASSIFIED) > > I am not suggesting that debt is not a requirement to an objective in > many cases. But saying debt is good is beyond me. Credit is good. > Debt is bad. Debt is not a tool. Credit and leans are tools. Debt > is a completely negative aspect of finance. > > -- > ME2 > > > > On Mon, Jan 12, 2009 at 4:05 PM, Jonathan Link <jonathan.l...@gmail.com> > wrote: >> Since your objection seems to be based on semantics, can I suggest that > some >> debt is necessary (to achieve a certain goal within certain established >> criteria, i.e. buy an affordable house adequately sized to one's needs) > and >> some debt is frivolous (I want the McMansion, supersized, please with a 1% >> teaser rate that resets to prime +10 in two years)? >> >> Debt is a tool, and like any tool it can be used correctly and it can be >> used incorrectly. A careful analysis of the situation is required by > every >> user, which was quite rare these last 20 years. >> On Mon, Jan 12, 2009 at 3:40 PM, Micheal Espinola Jr >> <michealespin...@gmail.com> wrote: >>> >>> +1. >>> >>> No debt is ever "good debt". That is the banking/credit industry >>> fooling you. Everything they do is to make money. Not to give you >>> anything for free *ever*. >>> >>> Points? Cash back? Stop fooling yourself. >>> >>> -- >>> ME2 >>> >>> >>> >>> On Mon, Jan 12, 2009 at 3:15 PM, Jim Majorowicz <jmajorow...@gmail.com> >>> wrote: >>> > That last sentence is exactly what got this country into this mess. >>> > >>> > >>> > >>> > From: David Mazzaccaro [mailto:david.mazzacc...@hudsonhhc.com] >>> > Sent: Monday, January 12, 2009 11:28 AM >>> > To: NT System Admin Issues >>> > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) >>> > >>> > >>> > >>> > Some debt is good debt. >>> > >>> > For taxes, you do get to deduct the interest on your mortgage...if you >>> > pay >>> > off your house, you lose that deduction. >>> > >>> > Additionally, you now have hundreds of thousands of dollars sitting > idle >>> > in >>> > your house that you can do nothing with (until you sell it). >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > ________________________________ >>> > >>> > From: Webster [mailto:carlwebs...@gmail.com] >>> > Sent: Monday, January 12, 2009 1:59 PM >>> > To: NT System Admin Issues >>> > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) >>> > >>> > Yes. But we moved to TN back in August and have a mortgage again. L I >>> > am >>> > working on paying it off as fast as possible. >>> > >>> > >>> > >>> > >>> > >>> > Webster >>> > >>> > >>> > >>> > From: Jacob [mailto:ja...@excaliburfilms.com] >>> > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) >>> > >>> > >>> > >>> > Wow.. did that include the mortgage? >>> > >>> > >>> > >>> > From: Webster [mailto:carlwebs...@gmail.com] >>> > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) >>> > >>> > >>> > >>> > +6 for Dave Ramsey. Paid off $197,000 in debt in 4.5 yrs. >>> > >>> > >>> > >>> > >>> > >>> > Webster >>> > >>> > >>> > >>> > From: David Lum [mailto:david....@nwea.org] >>> > Subject: RE: Would this be good for IT, or what? (UNCLASSIFIED) >>> > >>> > >>> > >>> > +1 times ten! >>> > >>> > >>> > >>> > We'll spend thousands sending out kids to college but never teach them >>> > the >>> > basics of money and not using credit for anything but a house. My >>> > parents >>> > didn't teach me that, it took me over 40 years (until Feb of last year) >>> > to >>> > really "get it" (thank you Dave Ramsey). Funny the things we think we >>> > *need* >>> > to have. Pretty sure 99% of these items our ancestors got along just >>> > fine >>> > without. >>> > >>> > >>> > >>> > Veering nearer to back on topic, adding the need for several thousand > IT >>> > jobs can't be a bad thing, but I am interested in hearing from IT guys >>> > in >>> > the healthcare industry what obstacles need to be overcome. It's one >>> > thing >>> > to say "digitize healthcare records", another entire to pull it off - >>> > there >>> > must be dozens of little "gotcha's". >>> > >>> > David Lum // SYSTEMS ENGINEER >>> > NORTHWEST EVALUATION ASSOCIATION >>> > (Desk) 971.222.1025 // (Cell) 503.267.9764 >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> > >>> >>> ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ >>> ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ >> >> >> >> > > ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ > ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ > > > > > ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ > ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ > > > ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ > ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ > ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~ ~ Finally, powerful endpoint security that ISN'T a resource hog! ~ ~ <http://www.sunbeltsoftware.com/Business/VIPRE-Enterprise/> ~
