dukeofbaja
New Member
Should I point out that about a third of all foreclosures are due to medical bills? The kicker is that a lot of these folks even had private health insurance that they htought was good....
typical libs in berkeley
- Thread starter jeff f
- Start date
Should I point out that about a third of all foreclosures are due to medical bills? The kicker is that a lot of these folks even had private health insurance that they htought was good....
FlyLikeAnEagle
Well-Known Member
True, and half of all bankruptcies are due to medical bills also. I had a friend who had bone cancer and had some of the best insurance out there. After about 6 months of treatment his insurance capped and he laid in his mothers basement for 3 months until he died with NO medical care, losing his house was the least of his problems. These asswipes that keep defending this shit deserves the same fate as far as I'm concerned.
ViRedd
New Member
Do you have a source for that information? Dude ... I sell RE for a living, and I can tell you that the majority of foreclosures are the result of people who shouldn't have taken out a loan in the first place. Many actually LIED on their loan applications during a time when THE DEMOCRATS in Washington were FORCING the lenders to make sub-prime loans.
Now, you might ask why someone would lie on a loan application when they knew that they wouldn't be able to make the payments. Here's the deal: At the time these mortgages were made, we were in the upside of the ARTIFICIAL real estate bubble. These people took out adjustable rate mortgages with LOW initial interest rates with the idea that they would ride the real estate bubble, sell in a couple of years, and walk away with a nice profit. Well, the real estate bubble, while it had an upside, it also had a downside. The adjustable rate mortgages "adjusted" and with the higher interest rates, the people couldn't afford the payments. So, when they tried to sell, the market for residential resale was pretty much over. Real estate prices began to plummet. Now, they owed more on the property than what it was worth. Many just walked away with the lender holding the bag.
If you want to blame government policies for this fiasco (and I think that's a good place to start), you'd have to go back to the Clinton administration, for it was the DEMOCRATS, under the Clinton administration, that started the whole sub-prime mortgages.
This is nothing more than Progressive ideology gone awry. Wrongly believing that "everyone has the RIGHT to own a home," we are now faced with the unintended consequences.
CrackerJax
New Member
Cali. is broke and the population reels from entitlement cutbacks... i'm shocked.
Truly greed and the "me" generation have melded.
The end game of liberalism.... social dysfunction.
=======================================
Bush lost 2.7 million manufacturing jobs...but not due to his policies...
Again...data/context.
[FONT=Arial, Helvetica]The Democratic National Committee released an ad Aug. 6 saying 2.7 million manufacturing jobs had been lost under Bush.
That's true, but ignores the fact that manufacturing jobs started their decline three years before Bush took office[/FONT].
who dat? OOooo dat be Clinton.
Truly greed and the "me" generation have melded.
The end game of liberalism.... social dysfunction.
=======================================
Bush lost 2.7 million manufacturing jobs...but not due to his policies...
Again...data/context.[FONT=Arial, Helvetica]The Democratic National Committee released an ad Aug. 6 saying 2.7 million manufacturing jobs had been lost under Bush.
That's true, but ignores the fact that manufacturing jobs started their decline three years before Bush took office[/FONT].
who dat? OOooo dat be Clinton.
FlyLikeAnEagle
Well-Known Member
Yet in another post you say Obama should have fixed the job situation by now.
Bush lost 2.7 million manufacturing jobs...but not due to his policies...
[FONT=Arial, Helvetica]The Democratic National Committee released an ad Aug. 6 saying 2.7 million manufacturing jobs had been lost under Bush.
That's true, but ignores the fact that manufacturing jobs started their decline three years before Bush took office[/FONT].
who dat? OOooo dat be Clinton.
EsmeWeatherwax
Member
Just for the record, the govener of Cali is what, oh yeh a Republican. The housing crises was caused by Republican deregulation of the banks which allowed them to make loans to people they knew would not be able to pay them back but the banks did not care as they bundled them up and sold the mortgages right away. The ones that bought the mortges did not care as they were insured through AIG. And guess what Bush bailed them both out.
EsmeWeatherwax
Member
As for the education issue that started this thread, the Republican plan is to cut taxes and spend like a drunken sailor until the government can no longer function. What they want is for the government to fail and the corperations to take over, they are leading us back to a slave nation. Ship all the skilled jobs overseas, cut funding for education and welfare. All that will be left will be minimum wage jobs and huge unimployment, perfect for the GOP's corperate sponsers to take over.
dukeofbaja
New Member
Plenty to agree on there. ARMs are evil and should be banned, the majority (about 2/3) lost their homes for reasons not related to medical bills. But before you blame Clinton, democrats, and the whole progressive ideology all ata once, take a breath, Then compose yourself and realize that Shrub and his folks had 6 years to fix it if they wanted to. Did they? No, but Bush sure found it nice to talk about record howe ownership rates in every state of the union. It was part of what he called his 'ownership society'. Tried to use the same sentiment to privatize SS (which I'm surprised we don't have more discussions about in here, I guess it is not so vogue to discuss as healthcare and gays).
Oh, yeah, my sources.... http://www.familiesusa.org/assets/pdfs/medical-debt-fact-sheet.pdf (moreso about medical debt in general, a notion that does not exist in any other rich, capitalist democracy besides our own. There are citations for the studies they quote at the end)
CrackerJax
New Member
It was the govt. who did all the pushing of bad loans.
They are doing it AGAIN to us RIGHT NOW. They deflected it so well onto wall street and the banks, they aren't afraid to continue the madness.
Our future for votes is what it amounts to.
capitalist democracies.... I can't think of any at all.
They are doing it AGAIN to us RIGHT NOW.
They deflected it so well onto wall street and the banks, they aren't afraid to continue the madness.Our future for votes is what it amounts to.
capitalist democracies.... I can't think of any at all.
dukeofbaja
New Member
So did Wall Street not build a huge derivatives market on these bad loans? Did they not basically bet on these bad loans, then bet on these bets? If I'm not mistaken, every credible economist acknowledges that as part of the economic collapse, as well as bad loans due to a highly unregulated market.
Capitalist democracies? Taiwan, Germany, England, Switzerland, Japan...do you wan me to go on?
Capitalist democracies? Taiwan, Germany, England, Switzerland, Japan...do you wan me to go on?
ViRedd
New Member
Bush, Smush!
I don't give a damn, or a rat's ass, about Democrats vs Republicans. The mortgage meltdown is the result of PROGRESSIVE policies gone awry. Isn't it about time that we recognize the fact that Bush is/was a Progressive? "Compassionate Conservatism," my ass. Isn't it about time we woke up to the fact that Obama is Bush on steroids?
CrackerJax
New Member
What did you expect to do with them....? The GOVT. pushed and packaged the bad loans in with the good, and then GUARANTEED them.... what else is there to do....they had to take them.
wall street disn't pollute the investment pools.... the Dem's did.
You need to get a grip on how wall street and private investment works....it's pretty obvious you haven't a clue.
Yet you opine as if you do.... curious.
BadDog40
Well-Known Member
Sorry daddy-o, it was caused by lack of regulations. Fannie and Freddie went into a free for all buying spree under Bush because they knew nobody would blink an eye. The mere fact that you mention Obama shows you lack any real credibility as this mess happened way before most Americans ever heard his name.Bush, Smush!
I don't give a damn, or a rat's ass, about Democrats vs Republicans. The mortgage meltdown is the result of PROGRESSIVE policies gone awry. Isn't it about time that we recognize the fact that Bush is/was a Progressive? "Compassionate Conservatism," my ass. Isn't it about time we woke up to the fact that Obama is Bush on steroids?
jeff f
New Member
there is a long well documented history of bush greenspan and treasury wrning of the coming real estate crash/fannie/freddie. as well as the actual recorded words of barney frank screaming that everything was AOK.
you cant rewrite this history pal, its well documented.
jeff f
New Member
Bush, Smush!
I don't give a damn, or a rat's ass, about Democrats vs Republicans. The mortgage meltdown is the result of PROGRESSIVE policies gone awry. Isn't it about time that we recognize the fact that Bush is/was a Progressive? "Compassionate Conservatism," my ass. Isn't it about time we woke up to the fact that Obama is Bush on steroids?
perfect.
jeff f
New Member
jeff f
New Member
well put.
maybe duke would have wanted them to sell magic loans instead of the real ones they were given by the govt.
dukeofbaja
New Member
I acknowledge all of this happened. How am I trying to rewrite history?
You are so busy sucking Bush's cock that you (willfully ignore/are unable to read) what I typed: Shrub and his folks had 6 years to fix it if they wanted to. Did they? No, but Bush sure found it nice to talk about record howe ownership rates in every state of the union.
Talk is one thing, actually doing something about it when you have the presidency and majority in Congress is another. It is for this same reason that my opinion of the current administration is rapidly diminishing.
You are so caught up on the whole left/right dichotomy that you are defending Bush. You should be proud of yourself for taking such an outlandish stance.
CrackerJax
New Member
Obama is the wrong man at the wrong time with the wrong economic modeling.
This much is now clear to the majority of the country.
This much is now clear to the majority of the country.