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Fed Makes Mortgage Settlement

Discussion in 'Political Discussion' started by Drewski, Feb 9, 2012.

  1. Drewski

    Drewski In the Starting Line-Up

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    No Jersey Selected

  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    As much as this seems to make sense, the devil is always in the details, we will see how it trickles down.....
     
  3. Drewski

    Drewski In the Starting Line-Up

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    I agree Darryl. While I have a hard time using funds to forgive a bad decision made by anyone, I certainly recognize that there was abuse in the system done by the companies offering MTGs just as much as there were bad decisions.

    However, seeing how many other programs have worked, I am afraid this isn't going to be anything more than a massively poor precedent being set.

    That being said, I will wait with baited breath to see the outcomes.
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    thankfully, no one who can't afford to buy a home is able to buy one today. That in itself is a great start. Moving forward, no one who is not qualified to buy a home, will not own a home...again, very good!

    If strict lending rules create a society of home-owners and those who can't get a home, that's ok. As a matter of fact, that's the way our country is SUPPOSED to be. It's like cell phones...you should get one if you can pay for it.

    I certainly do not want my tax dollars used to bail out people who don't qualify to own a home. But if our banks are footing the bill, then it doesn't affect me, so I don't care.

    I am extremely happy that Europe is showing the rest of the world that extreme socialism doesn't work...
     
    Last edited: Feb 9, 2012
  5. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Greetings American people!

    You lost your home, our economy is screwed. Toxic mortgages were sliced and sold....yeah-yeah-yeah we know...WE DID IT. WE failed, and we thank you for bailing us out so we could pay the executives their bonuses earned while shoving a hoit poker in all of your rear-ends.

    We have corrected our ways. Sure we forged a bunch of documents claiming a paper trail, sure we knew what this would do to everyone not afiliated woith the top part of the pyramid of toxic sell offs, Sure non e of us are going to jail.

    We kinda blame you, the sucker, for taking the bait....its really YOUR fault.

    So..in exchange for no further FUTURE lawsuits we offer each of you:

    $2,000.00

    sorry for sinking the nation into a depress---COUGH-COUGH----REcession... but we feel that 2k should settle everything on your average 180k mortgage that we knowingly sold you and chopped up and sold off....

    your bad.
     
  6. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    When a "poor person" is offered The American Dream handed to them on a Silver Platter they would be complete insane fools not to accept it.

    Barney Frank
    Chris Dodd
    and their little gang
     
  7. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    you might wanna google this:

    "the ownership society"



    ...if you own something, you have a vital stake in the future of our country. The more ownership there is in America, the more vitality there is in America, and the more people have a vital stake in the future of this country. - President George W. Bush, June 17, 2004


    We're creating... an ownership society in this country, where more Americans than ever will be able to open up their door where they live and say, welcome to my house, welcome to my piece of property. - President George W. Bush, October 2004.


    http://georgewbush-whitehouse.archives.gov/news/releases/2004/08/20040809-9.html



    Its more fun when you discover this kind of crap yourself...
     
    Last edited: Feb 9, 2012
  8. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    About one in five homeowners is underwater on their mortgage by an average of $50,000, amounting to something like $700 billion in negative equity. It's expected to help about a million underwater homeowners with either principle reduction or refinancing. Another 750,000 who lost their homes to foreclosure fraud will receive direct payments of $2,000.

    Daily Kos: Department of Justice announces foreclosure settlement


    sounds like a sweet deal to me! (he said with 100% sarcasm)
     
    Last edited: Feb 9, 2012
  9. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    It trickled down to RI to the tune of $173 million dollars, so now we can wait with baited breath as some pols/hacks figure how to misuse it, some will be stolen, some will fund some unnecessary project and of course some will be unaccounted for three or four years from now.
     
  10. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Not sure if you've seen the Showtime series called "House of Lies" with Don Cheadle...
    This deal sounds a lot like the 1st episode.

    they are a consulting firm and in one episode deliver a presentation to a mortgage bank about rebranding.

    Corporate Responsibility on 'House of Lies' Video
     
  11. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Do not get showtime, but the political soap opera that we live in RI is enough.

    Every day another head scratcher..
     
  12. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Come out to Cali...same political BS, except we skip the crappy weather.
     

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