101010

Comment Stream » AZ

Comment Stream
Filter comments by:
Highest rated Latest comments
Or filter by symbol:
  • Wall Street Breakfast: Must-Know News
    I'm going to make this short and to the point.

    Text of the bailout plan (from the NY Times):
    graphics8.nytimes.com/...

    Sec 109c line 14 "principal write downs" of mortgages
    Sec 110-2 Modifications (to mortgages)
    (a) Reduction in interest rates
    (b) Reduction in loan principal

    Now think about this example:
    There are two neighboring houses.

    In the first house, Peter was prudent, saved his money, lived within his means, worked hard, and could afford his mortgage.

    In the second house, Paul took on too much debt, lived beyond his means (possibly even taking out a HELOC or two to "live the good life"), worked just enough, and frankly cannot afford the mortgage he got himself into.

    The aforementioned sections essentially say that the tax money that Peter has paid will go to help his neighbor Paul. Truly robbing Peter to pay Paul's mortgage!!

    On top of that, everyone else who knew they couldn't afford a house and thus are renting... their tax money goes to help Paul too!!

    That is f***ing ridiculous.

    Sec 113a1. "Minimizing negative impact" -- This section is pure fluff but does clearly say there *will* be a negative impact, which they will attempt to minimize (ya right). None of "the gov't might actually make a profit" absurd punditry.

    Here is a graphic showing who in the House voted for or against this absurd, Socialist bill:
    www.nytimes.com/ref/wa...

    I will vote for, and contribute to, the incumbent campaigns of those who voted against this bill.
    I will vote against, and contribute to, the challenger campaigns of those who voted for this bill.

    As a taxpayer, one who lives well below his means, and an American, I am utterly furious that House Speaker Nancy Pelosi, D-Calif., Senate Majority Leader Harry Reid, D-Nev., Paulson and House Republican Whip Ray Blunt, R-Mo could come up with this absolute garbage.

    Moreover, the fact that Henry J Paulson originally asked for $700,000,000,000 without any oversight at all, just a "trust me, I'll spend it right" attitude, is completely un-American and goes against our democratic system of checks-and-balances. He is a snake, a complete failure at his duties, and should resign immediately.

    I implore all of you:
    PLEASE send emails, write letters and tell your Senator and Representatives that you-- as a financially responsible homeowner-- REFUSE to help pay the mortgages of your financially irresponsible neighbors. They don't need to be very long-- just a paragraph or two to get to the point.

    Tell them you will send money to support the challengers to kick out the incumbents to voted for this bill.

    And tell those Representatives who voted against this bill that you wholeheartedly support their vote, and will be contributing to their campaigns.

    They need to know: Vote for this bill and they will be out of office.
    Sep 30 21:41 pm |Rating: 0 0 |Link to Comment |View article

101010's Comments Stream Stats

  • 18 Comments, 0 , 0
  • Total Comment Stream rating - = 0