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Thread: Understanding the Stimulus Bill
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02-20-09, 01:15 PM #41
Re: Understanding the Stimulus Bill
Originally Posted by CivilWars
We are aware that "Slippery Slope" is the name an argumental fallacy, correct? that is, it does not prove anything.
http://en.wikipedia.org/wiki/Slippery_slope
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02-20-09, 01:16 PM #42
Re: Understanding the Stimulus Bill
Originally Posted by Blakeman
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02-20-09, 01:17 PM #43
Re: Understanding the Stimulus Bill
http://www.washingtonpost.com/wp-dyn...020802367.html
Seems they are still confused on how to go about all this, at least to me. This makes me very concerned, since it was "hurry up and pass the bill" before.
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02-20-09, 01:18 PM #44
Re: Understanding the Stimulus Bill
Originally Posted by jmw_man
But also, the banks are allowed to give loans to people who can't afford them...that seems likebegging for trouble. But again, the bank can look good because it has all these loans worth of interest out there to put on paper...maximal output for minimal input.
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02-20-09, 01:19 PM #45Re: Understanding the Stimulus Bill
Quick,
I somewhat agree, but it works both ways. I know many mortgage brokers who said you can qualify for X based on lending guidelines, but based on your budget I recommend .75X, and will only do the loan for that amount, so you can keep the house in a year or two. The people walk out, go down the street, get the loan for X, and it looks like a large percentage of them are failing now.
JMW,
Yeah, but I soon realized that these people are going to get the loan. If not from me then from my competition. If from my competition that does not help me to keep my job or pay my bills, so I can only do so much to ADVISE people. In the end they have to make the decision.
And it looks like both sides are getting their due. People that overspent are losing their homes, and banks that overlent, just made that up, are losing their ass. Natural cycle, but most Americans don't have the heart to look at the carcasses and watch the buzzards clean up the mess.
Soy,
Call it what you choose, but as I said in some other thread all these things bring us one step closer to socialism.
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02-20-09, 01:24 PM #48
Re: Understanding the Stimulus Bill
Originally Posted by CivilWars
You being the low man on the totem pole don't have much power seeing how you need to keep your job, the big man on the throne is in the exact same position as well, he's the bank CEO and he has to make money as well so he competes. That's where the government needs to step in and say, "NO, you can't give out that loan." There needs to be a qualifying system and that system needs to be used.
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02-20-09, 01:25 PM #49Re: Understanding the Stimulus Bill
This is no different to me than all the people that sued the tobacco industry over getting cancer. It is a freaking death stick you stuck in your face, of your own free will, for however long you chose. Nobody made you smoke, so don't blame them when you can't breathe, get cancer, or die.
Nobody made these people get a credit card, buy a car, a home, a boat, or whatever else. What did? Their own personal greed. You can make all the laws you want, but you can't outlaw greed, selfishness, pride, ego, or any other emotions or character traits.
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02-20-09, 01:26 PM #50Re: Understanding the Stimulus Bill
We all agree that people screwed up. The only place we differ is in who is responsible. Last time I checked I am only responsible for myself, partly my wife, and my kids. You seem to think the government, corporate America, your friends, your neighbor, and whomever else you want to pin it on is responsible for you, and I can't agree to that. if I buy a house that is too expensive I have nobody to blame but myself.
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