by Mofo from the Hood
on 9/29/2008 @ 7:17pm | From now on people it's a Free-For-All!
Everything is Everything!
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by chrism39
on 9/29/2008 @ 7:55pm | What does that mean? |
by Mofo from the Hood
on 9/29/2008 @ 8:38pm | Let me answer your question by addressing the last statement in your post: "...we took away the rules and now only the bullies are winning."
There used to be a mental hospital not too far from Tacoma (convenient) called Western State Hospital. I knew a guy who worked there nights as an orderly. Every now and then some inmate in an open ward would get overaggressive and that would rattle the other inmates. Okay, what to do? Ask him to calm down? Yeah, maybe once or twice. Talk logically to him? Yeah, maybe once or twice. Still no response? Overwhelm the mofo with brute force. Effective? Yeah. No joke. How does that make the inmate feel? Let's just say if he was still able to speak he would say, "Nobody ever put it to me that way."
Real-Politiks baby. |
by Twisty
on 9/29/2008 @ 8:49pm | Chrism, I think you have this sorta backwards.
The "rules" used to be that if you didn't qualify for a mortgage, you didn't get one. We didn't "deregulate" the credit market; what actually happened is that a new layer of regulations was added to force lenders to ignore that time-tested rule. And now, yes... nobody is having fun any more.
So, who is the bully? The government. |
by Mofo from the Hood
on 9/29/2008 @ 9:28pm | Evidently some liberal voices with ties to federal legislators thought it would be progressive to enable a broader range of the population to invest in home ownership. Stop. Everybody already had equal rights to buy property. Well, what the liberal voices had in mind was SPECIAL RIGHTS. Okay now with special rights aka unrealistically low mortgage rates, compared to inflation rates, the demand for this cheap product created a whole new mass market for mortgage loans. Wahoo! Customers! Okay now the new mass of mortgage money customers with money need something to spend all that new money on. Wahoo! Demand for Product! So now the exististing real estate inventory has so much demand that the price of even a rundown Tacoma shack is extremely overvalued.
Was anyone ever forced by rule of law to buy an overvalued parcel of real estate? |
by scout
on 9/30/2008 @ 1:05am | It wasn't necessarily low mortgage rates as much as it was making loans to people who did not have to (could not) qualify or even show income in some cases |
by chrism39
on 9/30/2008 @ 8:04am | Lets not put the blame on the shoulders of the people who took out these loans, the blame belongs on the government for deregulating the system over and over again. Every body wants to own a home, these homeowners are at fault, but not as much as the government. |
by Mofo from the Hood
on 9/30/2008 @ 8:06am | The whole system created by law was nothing but a mechanism to serve its creators. The mechanism was designed to be powered by subsidized money. It was just an excercise in manipulating abstractions. It was an artificial reality. |
by Mofo from the Hood
on 9/30/2008 @ 9:57am | Amusing isn't it? How since the beginning of time so many people have been fooled, or how so many people couldn't control their feelings.
What is the guidebook that you refer to when you're deciding between a wise and a foolish action? |
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