Jason Falls › Likes

It sits on the Dems 100%. From this day forward, people who don't make enough to pay taxes, will not be getting home loans. - Morgan Warstler

I am afraid that Robert is correct. A depression will only further the divide between the have's and have-not's. I think that we will soon see the disappearance of the "middle class" entirely. - Mathew A. Koeneker

I would have to disagree that it sits only with the Democrats. I feel that quite a few profited on all of this. There ought to be some repercussions for those that gave the loans and made money from them. Golden parachutes be damned. - Mathew A. Koeneker

I guarantee that most of the people who got rich off of the system are not Democrats. - Alex Scoble

Subprime loans ~$1 T Credit Swap Derivatives ~$62 T. Individual borrowers aren't driving the crisis. http://tinyurl.com/3g4eqa - Maria Niles

Point to Maria. - Mathew A. Koeneker

*sigh* It is depressing to see such if/then logic presented for no bailout/depression. If this bailout keeps fiscally irresponsible people in homes it will have a negative effect as well. It's interesting that left leaning folks often say they'd pay a bit more in taxes if they knew it helped a majority of Americans. Yet, a 25-35% drop in 401k accounts (for a short span of time) to benefit the majority of Americans seems to be rejected outright. [ducking] - AJ Kohn

i am starting to think this is a bad idea. This is a short term solution. - PC Easy from twhirl

the debtor prisons in England during the industrial revolution were excused on the nonsensense that those inside were the guilty parties - David HC Soul

The bailout may not prevent a depression. But it will shatter the illusion we live in a free-market economy. - J.D. Deutschendorf

@alex, this has nothing to do with who made money - the rules were changed on purpose by the Dems to get themselves some votes, they insisted the bad loans be made to low income, bad credit risks - they (and apparently you) own it 110%. You are required to admit the source of the problem. You can't blame bankers for playing by the rules set by the Dems. - Morgan Warstler

I can't blame bankers for making poor business decisions just because it was legal? Like hell I can't. Just because something is legal doesn't make it a good idea. There's plenty of blame to go around and most of it does not sit squarely with us Democrats. - Alex Scoble

@alex, Nope it sits on you, in you, all around you. Repeat after me: this would not have happened, could not have happened, if Dems didn't mandate with laws that banks take risks (guaranteeing them!) to help the poor gets homes. If not but for your agenda, we'd not be dealing with this. Hope all those unfortunate people in foreclosure was worth it!! Denial ain't just a river buddy. - Morgan Warstler

Me thinks Morgan is a being a bit revisionist considering it was Phil Gramm, a McCain advisor and former campaign member, who pushed through the legislation. - John Frost

So, what we have here, folks, is a true dichotomy. There, unfortunately, is no good solution. Alex is right that just because something was legal, it wasn't "right." Robert is right in that a true market depression hurts almost everyone. AJ and Lucretia are right that rewarding stupidity is foolish. And David is right that a "debtors prison" is not the answer. Solution? I don't have a good one either... - MVB (Grinch of FF)

Then you don't believe in personal responsibility? Don't believe that companies should behave ethically, responsibly and intelligently regardless of law? So much for the cornerstone of civilization. - Alex Scoble

@frosty - again, nope. This isn't about regulation/no regulation oversight / no oversight - this is about relaxing credit requirements themselves for bad risks to get homes. More oversight wouldn't have stopped this... the market was bastardized by the Dems to buy votes from lower income people. That's the fact. Fan/fred were instructed by law to do the Dems bidding, and buy up bad loans made to low income people (read Dem voters). - Morgan Warstler

@Morgan: First, subprime lending started to surge in the mid-1990s and comprised 8.6 percent of all mortgages in 2001. Second, deregulation and greed are the culprits. Finally, you're wrong. Demographics on subprime lending do not support the low income theory. Here is but one link, many others can be found readily: http://www.nakedcapitalism.com/2007... - AJ Kohn

Personal responsiblity = People who don't have 10-20% down get no mortgage. Anything else is BS. Banks were leaned on by the Dems to do this, Fannie went looking for this stuff to buy! You pwnd this Alex, eat up. - Morgan Warstler

I didn't create this problem...and also by your rules, just about no one (NO ONE!) in the bay area would be able to buy a home. And you have completely gone off the tracks on your argument. Have a nice day sir. Fact: Businesses that got into the business of making bad loans to people that couldn't pay did so, not because they were forced to by the government, but because they thought they could make a quick buck. The responsibility lies squarely with the banking industry that acted unethically. Period. - Alex Scoble

@AJ, you are missing mah point - The actual changes to the laws that enabled this were Dems. They altered the fundamentals of mortgage business for their own ends. What happens after that is of no matter... that policy is over, and we'd not be facing this if they didn't start it. Deal. Stop obfuscating. - Morgan Warstler

@Alex - guess what? no one in the bay area is going to be able to afford a home loan. It has gone back to 10-20% and is staying there. Forever. "Never again." Your people thinking your way created it. Redeem yourself, change your mind. - Morgan Warstler

Your assertion is patently false and completely ignores how our government works. Please stop arguing around the facts and actually play the hand you've been given, which is crap against 4 aces. - Alex Scoble

Alex is right. @Morgan: Start making sense. Throw a link in there to the laws. Or talk about the secondary market for these loans which was the further culprit which, by the way, had everything to do with deregulation. - AJ Kohn

LOL. get up off the mat. it is over. - Morgan Warstler

@AJ - http://www.youtube.com/watch... - Morgan Warstler

Americans bet that the economic dip from 200-2007 would be short, and that they would be able to borrow from the future to finance the present. The future arrived, and they found that they're standard of living must go down. But no one wanted it to go down. So now country is in denial. - Paul Denlinger

@Morgan: You *should* Google that, and read Wiki and other viewpoints. The statistics don't really support the theory. Contributing factor, maybe, *the* reason. No. - AJ Kohn

Morgan is right. Fannie Mae and Freddie Mac have always been slush funds for Dems who use it to get rich after leaving office and to provide campaign dollars to all to keep from getting regulated, but mostly to themselves. It was Dems interfering in the free market that caused this. - Dawn

nice! - Shey, Jamaican of FF

Interesting tea Aprille. - lloyd

thx lloyd, tho it may have come across funny - the pineapple is separate from the tea. The mint/lemonbalm is from my yard - abundant and good stuff - Aprille

Aprille, if you like green tea, we have had really good luck w/ "Teasource.com" - lloyd