Guv Bob
2008-03-23 16:52:32 UTC
Reagan? That was 20 years ago. How about NOW ---
Here's an idea, Jean.... stop cross-posting. Try it sometime!
I think it was Reagan who encouraged buying on credit to restart the
economy and them ended the interest deduction.
Here's an idea, Jean.... stop cross-posting. Try it sometime!
On
and most everything else for half of what we pay for it. That's called
the Republican tax system. They give tax cuts to the rich and start
wars without paying for them and the consumer winds up paying with
higher prices.
Nobody ever talks about thus but, just before all these easy-to-get
loans
started, Jesse Jackson, Al Sharpton and other "Liberals" - including Ted
Kennedy and other Democrats - were claiming banks were discriminating
against minorities by not giving them loans.
What part of predatory lending practices is not clearly understood here?
The complain was NEVER that no loan was available at all... merely that,
just like the SBA requires farmers (for example) to buy NEW equipment
rather than serviceable USED equipment, many marginally qualified home
loan seekers were strong-armed into more loan than they needed through
overqualification. And, more often than you might imagine, their loan
dramatically changed from acquistion to closing table, usually requiring
more points to be paid up front OR the loan being quietly changed from a
fixed rate to an ARM.
And, of course, the feds knew about this all along, right along with
other tidy little "practices" like switching billing addresses so a
payment could be counted late and a fee applied, and they chose to not
only NOT do anything about it... they actually worked to protect the
crooks in the lending industry.
As more light gets shined on insurance and the whole credit industry,
with tidbits like BC/BS trying to demand that doctors disclose
confidential patient information they can use to deny coverage and BOA
raising interest rates on people who are paying their bills on time as an
"incentive" to get them to pay off balances earlier, it becomes more and
more clear just how nefarious these bastards AND their protectors in
Washington truly are.
Old Woody had it right... "Some folks rob you with a six gun. Some use a
fountain pen."
Olin, Olin, Olin. Eve knows it's all Teddy Kennedy's fault. Don't make
her cry again.
Oh yeah, right. I forgot.Euro will cost $2 before summer is over.
Generally speaking, I suppose that will mean they can buy gas and foodand most everything else for half of what we pay for it. That's called
the Republican tax system. They give tax cuts to the rich and start
wars without paying for them and the consumer winds up paying with
higher prices.
loans
started, Jesse Jackson, Al Sharpton and other "Liberals" - including Ted
Kennedy and other Democrats - were claiming banks were discriminating
against minorities by not giving them loans.
The complain was NEVER that no loan was available at all... merely that,
just like the SBA requires farmers (for example) to buy NEW equipment
rather than serviceable USED equipment, many marginally qualified home
loan seekers were strong-armed into more loan than they needed through
overqualification. And, more often than you might imagine, their loan
dramatically changed from acquistion to closing table, usually requiring
more points to be paid up front OR the loan being quietly changed from a
fixed rate to an ARM.
And, of course, the feds knew about this all along, right along with
other tidy little "practices" like switching billing addresses so a
payment could be counted late and a fee applied, and they chose to not
only NOT do anything about it... they actually worked to protect the
crooks in the lending industry.
As more light gets shined on insurance and the whole credit industry,
with tidbits like BC/BS trying to demand that doctors disclose
confidential patient information they can use to deny coverage and BOA
raising interest rates on people who are paying their bills on time as an
"incentive" to get them to pay off balances earlier, it becomes more and
more clear just how nefarious these bastards AND their protectors in
Washington truly are.
Old Woody had it right... "Some folks rob you with a six gun. Some use a
fountain pen."
her cry again.
economy and them ended the interest deduction.