Congress housing BAILOUT!

[jnichols3]

If a loan company makes a loan to someone who cannot pay, that is their problem. If someone takes out a loan they cannot pay that is their problem. I actually have a little sympathy, let me say "just a little sympathy", for the loan institutions, because over the last few years pressure was put on them to loan to people they would not normally loan to. I do not have enough sympathy however to agree with the bailouts.

[jnichols3]

This was the banks and the affected homeowners problem, but thanks to damn govenment we all dragged into it. I could have gotten an adjustable rate mortgage, but I was not stupid and instead payed a little more and got a fixed rate. I have several houses now on my street and up for sale. Because they were sold to people who had no business buying a too expensive house. Banks were pressured to make loans because of the govenment.

[jnichols3]

The only way the banks could swing these loans was to be creative and do plans like the ARM's. The banks may be incompetent sometimes, but they are not evil. It is a business. The banks do not want to foreclose on people, but sometimes there are no alternative. Banks would much rather have those houses occupied and paying. Thanks to the government bailouts it is there best business interest to foreclose, as opposed to workout better terms. NEVER, NEVER get the government involved.

[curious220]

Yes, you're nailing it!! The bailouts are exactly what they're are, (TO BAILOUT) the very top corporations from the depression thats taking place..! And the general public doesn't even know whats in the bailout..! The American people need to really come together to get thru this rough time..!! I think we're about to go thru an experience we never seen before..! Once this thing collapse people are going to lose their minds...No Justice, No Peace!! All morals will be lost!!

[nuremaste]

Well said. There just aren't any good solutions. I think the media has tacked the term bailout to what is needed, and it builds bais in public perception. If the government lends funds, it should also laydown strict repayment timelines, and administer -not just designate- strict oversight. Lenders should also be forced to renegotiate affordable loans with borrowers who can afford reasonable terms. The toughest most necessary task will be un-bundling the most toxic loans from other commodities.

[bamatommy]

This bailout is a terrible idea. If you bought a house you couldn't afford, or you bought one intending to flip it, why should taxpayers have to bail you out? And why should we have to bail out the businesses who made foolish loans?

[xxxxoxxxx9]

Obama is for the bailout, and Obama bought into the Food Climate Research Network's idea that meat must be rationed to four modest portions of meat and one litre of milk a week, if the world is to avoid run-away climate change, a major new report warns.

[allahwasafag]

you nigs have gotten your fair share of welfare. Now it is time for us self respecting white people to get bailed out who bought at the wrong time. You are too dumb to be taken seriously anyway.

[Yayatv]

If you bought at the wrong time, then you are the dummy!! hahahhahaha poor little racist.

[clustro2]

fuck this asshole

i'm white, and I don't want none of this bailout shit either. this bailout is nothing but a HUGE money grab by the greedy FRAUDSTERS on wall street.

FUCK THE BAILOUTS! Write to your congresspeople! Both senators and your representative! Tell them NO TO THE BAILOUTS!

[law21007]

Your right.... another form of welfare. Exactly what the country needs AHHHH!!!!! Cant stand it anymore!

[virginlampoil]

With this "Yes" vote and similar like it on this housing bill, our representatives are pouring the wealth of

America into homes. What wealth will there be left when these homes rot in 20 years???

Unlike gold which maintains its value, you are voting to essentially through America's wealth, power and future into a bottomless pit, never to be retrieved again!

[reynadec]

you rock...keep up the the good work!!

[Yayatv]

thanks, I will certainly try.

[SilverXeno]

And in the state of Florida, people who own those rental properties are getting a tax exemption. It's $10k, but previously they had nothing...so it's like they're getting yet ANOTHER way to make it easier to hang on to their properties. The homestead tax exemption was doubled from $25k to $50k. So, if an investor owns a home & an investment property...they get a $60k break. Great for them. UGH!

[MoraleHazard]

Great video.

[MoraleHazard]

Very good video; very smart and you speak well.

[boston1977boston]

YES!

[Yayatv]

You are so sweet! thanks

[2thetxchick]

You are so right.

The number one problem contributing to the economic slowdown is personal debt. People are not saving enough money.

The lenders were greedy, and lent money to people who couldn't afford to pay the note. Just because you qualify for a loan doesn't mean you have to take it....and no one should be buying a house with $0 down or having loan payments of more than 50% of their income.

Personal responsibility...and bailing out these people will just help the greedy lenders.

[outragedpalmer]

Love ya girl. So calm and you explain everything so well. Keep encouraging people to UNDERSTAND =)

[Yayatv]

Thank you for the words of encouragement! Love ya back!