billions on the way in housing bailout

[Pdamerica org]

Jim wrote:

<quoted text>
And don't forget the Savings and Loan scandels under Bill Clinton and all his and Hilary's dubious associations....
THEY ARE ALL CROOKS and ALL belong in Jail.

Most Americans still believe falsely that Bush is conservative and Hillary is liberal.

They are both corporatist that only benefit the wealthy.

Clinton passed NAFTA with a big White House photo op with Daddy Bush, Gerald Ford, and Jimmy Carter for NAFTA.

Fred Dalton Thompson : enabled S & L crisis of '80s
Please spread the word....this is not the type of man we want as President.
In 1975, Thompson began his eighteen year engagement as a lobbyist in Washington, D.C., eventually representing clients including Westinghouse, General Electric (the current corporate owner of the NBC Universal-NBC television network), Westinghouse used to own CBS TV and the Tennessee Savings and Loan League

By 1982, Thompson worked the U.S. Congress membership as a lobbyist for passage of the Savings and Loan deregulation legislation desired by the Tennessee Savings and Loan League --- in this case, federal deregulation legislation allowing for additional government support of ailing S&Ls; giving U.S. thrifts the freedom to invest in potentially more profitable, but riskier, ventures; and eliminating interest-rate ceilings on new accounts to increase S&Ls' competitiveness.

Enacted into law during in September 1982, the Senate bill pushed by Thompson was incorporated into the Garn - St Germain Depository Institutions Act of 1982.
The Garn - St Germain Depository Institutions Act of 1982 is widely credited with having laid the groundwork for the U.S. Savings and Loan crisis of the late 1980s

The savings and loans crashes of the 1980s, themselves directly the result of Reagan’s deregulation of the banking industry, is more interesting because of how it reflects the rapacious nature of unbridled capitalism than of Neil Bush himself. Who by the way, is now embroiled in another scam with his latest venture, educational software, Ignite
(turnover $20 million, much of it from educational subsidies obtained in the state of Florida ,where,‘coincidentally’ of course, his bro Jeb, was governor).

[MyOpinion]

nuskoold wrote:

Courage: to act in accordance with one's beliefs, esp. in spite of criticism.
"Only 45 Republicans -- most from districts ravaged by the housing crisis and some facing tough re-election fights -- voted for it."
Republicans are cowards.

The Democrats are the ones for bailing everyone out of their mess. The government needs to let these people bail themselves out. No one held a gun to their heads to make them sign on the dotted line.

[MyOpinion]

carmen Sosa wrote:

We are one of those Family losing a Home,I feel a little peaceful,knowing help is coming for us,i hope they sign,so i could move back to my House with my three childrens.

Were you given a down payment too for the house you are losing? I worked two jobs to get the down payment for my house. Maybe that's because I don't fit the profile for handouts.

[CME]

carmen Sosa wrote:

We are one of those Family losing a Home,I feel a little peaceful,knowing help is coming for us,i hope they sign,so i could move back to my House with my three childrens.

Move back in with your parents, get a second job, have the kids father(s)work harder, use birth control, sell off anything you can, cut expenses you don't need and/or get a trailer. Don't expect others to pay for your house and your children. BTW the 's' is not necessary on children.

[baby jebus]

i for one thank the government for taking out a loan in my name from the chinese. thanks guys!

[rgb]

New housing bailout bill will require reporting your credit card transactions to the IRS.

http://housingdoom.com/2008/07/24/why-is-ther...

Big Brother working full time

[6 actual]

WTF! You mean they're gonna monitor PAYPAL??????

[former native]

Let the people and banks fail. Where is my bailout from the tech bubble??? Isn't Chris Dodd one of a many Senators, including Obama, that revieved sweetheart deals on their loans????????? If people never fail, they'll never learn. Foreclosure are a natural bi-product of the market, it will allow others to buy a home at a discount. Mommy governemnt at its best(or worse).

[Chris]

I'm a Florida Democrat and I DO NOT support this bill.

There are some basic issues with the main effort of the bill, mainly giving tax payers money to mortgage companies that should be taking the initiative to re-negotiate the terms of those they would like to foreclose, but this aside, there is a lot of other issues in the bill that just shouldn't be there. This bill is like another USA PATRIOT Act--rushed to be passed and the affect of the legislation was other than what was sold the to the people of this country. More fraud on the people.

[rgb]

6 actual wrote:

WTF! You mean they're gonna monitor PAYPAL??????

Apparently yes, they will along with all your other purchases. To be tracked by your account number tied back to your SS number at your credit card issuer.

Next step: Verichip insertion at birth? The Nazi's did it in a rather crude way. Isn't technology wonderful?

[rgb]

Chris wrote:

I'm a Florida Democrat and I DO NOT support this bill.
There are some basic issues with the main effort of the bill, mainly giving tax payers money to mortgage companies that should be taking the initiative to re-negotiate the terms of those they would like to foreclose, but this aside, there is a lot of other issues in the bill that just shouldn't be there. This bill is like another USA PATRIOT Act--rushed to be passed and the affect of the legislation was other than what was sold the to the people of this country. More fraud on the people.

Well pal, your Dem leadership voted this in overwhelmingly. Did you call or email them to tell them to vote against it?

I did, but of course did not hear back.

This is billions for the bailout of Wall Street, not your neighbors. You people need to wake up.

[Doubting Thomas]

Not much help coming from this bill unless your name is Fannie Mae or Freddie Mac. Mortgage companies have to volunteer to lose money to help the irresponsible. They don't own most of these loans anymore, anyway. they were diced up and sold off as investments to hedge funds and foreign governments. Foreclosed houses will now become government low-cost housing. What's worse? I'm not sure.
http://news.yahoo.com/s/ap/20080724/ap_on_bi_...

[Doubting Thomas]

Anyone have an idea as why this bill also allows the IRS to monitor all of our credit card purchases moving forward? Seems to be an odd add on to a housing bill.

[Dem]

Finally the greedy Republicans with their "moral hazard" krap have been defeated! The Democrats and Obama will help bail out all the beleaguered homeowners from this foreclosure mess.

[seniorauthor]

To CME, JIM AND What:

Read my response to Carmen Sosa

[poor taxpayer]

Dude wrote:

let the idiots and crooks fail. I dont feel like bailing out anyone with my taxes

So what will you do about it? Will you vote for the Republican or the Democrat? Both are culpable. Most of Congress and the President and his administration should be in jail.

WRITE-IN RON PAUL!

[poor taxpayer]

rgb wrote:

<quoted text>
Well pal, your Dem leadership voted this in overwhelmingly. Did you call or email them to tell them to vote against it?
I did, but of course did not hear back.
This is billions for the bailout of Wall Street, not your neighbors. You people need to wake up.

If I had to choose I would rather help the irresponsible borrowers who have less than nothing than the irresponsible lenders and Wall Street crooks who have billions of our tax dollars.

[garym1a2]

6 actual wrote:

WTF! You mean they're gonna monitor PAYPAL??????

That really stinks.

[seniorauthor]

to Sosa:

Most of the country does not understand how the subprime lenders worked. And even though millions of dollars were given to the non profits for counseling on buying a home, you evidently did not take advantage of that counseling or did not understand what was going on. Don't feel too bad, a lot of people did not understand and were taken in. My case histories clearly show the fraud and deception that was used. Now, having said that, if you have already moved out of your home, it will be difficult to receive any of the bailout money as that will only be awarded to people meeting certain criteria. If you are working and can afford to make the adjusted payment after the lender gives you a discount on the principal, then you may very well be eligible. But again if you have moved from the property, this may disqualify you if they find out that you have moved. email me at [e-mail] and I may be able to assist you. Dealing with the loan servicers has become a nightmare for so many homeowners. I never charge anyone for my services and I will tell it like it is so I do hope you qualified for this loan in the first place. The government will not give money for loans that were not eligible. Thank you.

[Dude]

http://www.snopes.com/politics/taxes/paypal.a...