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2011-10-21 Home Front: Politix

Announcing Retirement, Dem Congressman Bashes Obama

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Posted by Fred 2011-10-21 00:00|| || Front Page|| [11126 views ] Top

#1 The good congressman is wrong - Obama, Dodd, Franks, and the others fully understand the mortgage and forclosure crisis. And they are effectively addressing it.

It's just that they want to exploit it for their own monetary and political gain and not solve it.

Posted by CrazyFool 2011-10-21 00:55|| 2011-10-21 00:55|| Front Page Top

#2 I bought an over-priced house I couldn't afford based on the knowledge that 9/10 times I'd make bundles with no work.

Now it's gone wrong TAXPAYERS have a duty to prevent me taking a loss, and to stop houses being affordable!

This is surely capitalism?

/sarc.

REMEMBER: foreclosure is a zero sum game.
Falling Affordability is a sign of falling (not growing) wealth.

Posted by Bright Pebbles 2011-10-21 06:36|| 2011-10-21 06:36|| Front Page Top

#3 REMEMBER: foreclosure is a zero sum game

Don't you mean a "negative sum" (everybody loses)?

Posted by g(r)omgoru 2011-10-21 08:03|| 2011-10-21 08:03|| Front Page Top

#4 Owner loses
Bank loses
Buyer gains a house at a bargain

Posted by Cincinnatus Chili 2011-10-21 08:17|| 2011-10-21 08:17|| Front Page Top

#5 In fact, slight positive. If the over-valuation of houses was destroying the economy (as it was).

Posted by Bright Pebbles 2011-10-21 08:20|| 2011-10-21 08:20|| Front Page Top

#6 That's public good---not part of the players' payoffs.

Posted by g(r)omgoru 2011-10-21 08:55|| 2011-10-21 08:55|| Front Page Top

#7 Cincinnatus Chili Hello!, Not anymore. Banks are going after properties now. Foreclose then sell. The buyer owes the difference. You can't just walk away now.
In Ireland the government is taking over the foreclosed property then rents it back to the former qualified owner. Part of the rent goes to the original lender. Can you imagine that here. I can.

Posted by Dale 2011-10-21 09:24|| 2011-10-21 09:24|| Front Page Top

#8 Gives new meaning to "government housing."

Posted by JohnQC 2011-10-21 16:50|| 2011-10-21 16:50|| Front Page Top

#9 Oops! "buyer owes the difference" the one in default.

Posted by Dale 2011-10-21 17:26|| 2011-10-21 17:26|| Front Page Top

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