On Thu, Apr 24, 2008 at 10:45 AM, Ed Leafe <[EMAIL PROTECTED]> wrote:
> On Apr 24, 2008, at 9:16 AM, Stephen Russell wrote: > > > Who is getting bailed out? > > > > The government is guaranteeing the funds within the bank so if you > > had money > > there it was safe. > > > We are not talking FDIC insured accounts in savings banks; that > was > another Republican administration. We are talking speculative > investments with companies like Bear Stearns. These are people who are > professional investors, with full awareness of the risks involved who > are getting bailed out. > > People who were sold on taking out these sub-prime mortgages, > though, > are not professional money managers. In the vast majority of cases > they are regular folks who trusted their banker and/or realtor to > guide them. Yes, there are a few who knowingly took advantage to try > to make a killing, but the numbers show them to be an almost > insignificant percentage of homeowners who are faced with losing their > homes and their life savings. These folks are not receiving one shred > of support from the government, while the professionals who should > know better are being bailed out. > > *------------------------- > So we should bail out the stupid? Please say no to bail out of every fool who made a bad investment. I have no idea on the #s of people who were presented these bullshit deals and took them vs those that accepted them. I'd like to see the person in jeopardy go and sue the real estate firm as well as the mortgage selling organization and the person who made the commission. Sure there is not enough money there to replace all that people lost but it may enforce the fact that there is a backlash for doing the wrong thing in general to the public. Seriously we don't as a society care about online fraud that takes the funds from stupid people why should we give a rats ass about similar stupid people that fell for the "to good to be true? " I know of a few guys who made millions in then home loan business. they came up with new deals that allowed more people to get into a house that they couldn't afford with the idea that the catch for your success was a quick sale or reapply for a loan within a year or two. He dealt with MDs who did something stupid in their financial life and needed to look RICH, even though all their income was going to current obligations. Is it my friends fault, or is it the brilliant Dr's fault? Dr got what he wanted, the pretty house in the right zip code that was the envy of others in his office. That is what I want to pick up now as a buyer. That great home at 65 or 70 cents on the dollar. -- Stephen Russell Sr. Production Systems Programmer Mimeo.com Memphis TN 901.246-0159 --- StripMime Report -- processed MIME parts --- multipart/alternative text/plain (text body -- kept) text/html --- _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
