Webmaster Forum

Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues

Controversial Social Issues Discussions concerning controversial social issues. Topics include politics, religion, culture, social and economic issues, etc. Respect required at all times.


Reply
 
Thread Tools Display Modes
Share |
  #21  
Old 10-04-2008, 09:48 PM
TechWizard's Avatar
TechWizard TechWizard is offline
v7n Mentor
 
Join Date: 07-26-07
Location: Georgia
Posts: 6,156
iTrader: 2 / 100%
Now I'm confused.....Sen. Biden said that Sen. Obama pointed out the problems in 2005 and tried to fix it but it was blocked by Sen. McCain and his conservative friends. (Holding Head In Hands....What am I supposed to think???)......(Again, more sarcasm...please stop.....your cracking me up!)
 
Reply With Quote

Advertisement

Advertisement

  #22  
Old 10-04-2008, 09:58 PM
Chad Michealstork's Avatar
Chad Michealstork Chad Michealstork is offline
Senior Member
 
Join Date: 10-04-08
Posts: 134
iTrader: 0 / 0%
it really doesn't matter who's to blame for the problem its all about whos to blame for the new and upcoming problems
 
Reply With Quote
  #23  
Old 10-04-2008, 10:48 PM
TechWizard's Avatar
TechWizard TechWizard is offline
v7n Mentor
 
Join Date: 07-26-07
Location: Georgia
Posts: 6,156
iTrader: 2 / 100%
How is that? If you don't find out what the problem is, find out what it was that caused the problem, how do you prevent the problem from being repeated? How do you come up with an appropriate solution to the problem?
 
Reply With Quote
  #24  
Old 10-05-2008, 08:30 AM
Chad Michealstork's Avatar
Chad Michealstork Chad Michealstork is offline
Senior Member
 
Join Date: 10-04-08
Posts: 134
iTrader: 0 / 0%
i said it before i dont think its the governments place to bail them out
 
Reply With Quote
  #25  
Old 10-05-2008, 12:52 PM
TechWizard's Avatar
TechWizard TechWizard is offline
v7n Mentor
 
Join Date: 07-26-07
Location: Georgia
Posts: 6,156
iTrader: 2 / 100%
Quote:
Originally Posted by Chad Michealstork View Post
it really doesn't matter who's to blame for the problem its all about whos to blame for the new and upcoming problems
Again you are avoiding the question, you say it doesn't matter who's to blame, but you don't think the government should bail them out.

Bail who out? bail out the citizens who will lose jobs, homes, food and more if the market crashes.

Bail out the world markets that are full of paper based on the busted Fannie Mae and Freddie Mac lending and creative accounting practices? Foreign investors are heavily invested in the U.S. markets. Allowing a massive downturn in the market value would likely cause all the foreign investors to withdraw their money from our market and cause an even greater devaluing of the market leading us even closer to a depression.

So, while it is a horrible thing that is being done, is a necessary evil at this point, any repair not requiring such an action was passed over and not done over the last few years. Everyone as in both parties shares blame, but the the Democratic party is definitely more culpable. The American citizens who knowingly exceeded their means are at fault as well. Many may have fallen prey to what are being referred to as forceful lenders but ultimately it was the consumer that should have been responsible for themselves more than they were.
 
Reply With Quote
  #26  
Old 10-08-2008, 08:30 AM
Mia's Avatar
Mia Mia is offline
v7n Mentor
 
Join Date: 04-28-06
Location: Lake Geneva, WI.
Posts: 552
iTrader: 0 / 0%
Quote:
Originally Posted by Chad Michealstork View Post
i said it before i dont think its the governments place to bail them out
Agreed. If left alone, the market will correct itself. Look at the price of oil right now? Leave things alone and watch that continue to plummet. There is a reason for the drop in oil, and rise of the dollar in the midst of this correction.
 
Reply With Quote
  #27  
Old 10-08-2008, 08:37 AM
TechWizard's Avatar
TechWizard TechWizard is offline
v7n Mentor
 
Join Date: 07-26-07
Location: Georgia
Posts: 6,156
iTrader: 2 / 100%
The one thing I do think should be done, those that own homes, and have owned them for quite some time, say they purchased the house 10 years ago for $129,000 and because of the dishonesty of others no only is worth $84,000. Let those mortgages be renegotiated to the new value so those folks aren't sitting on a $40,000+ loss of liquidity, that would be all or more of the equity they had built up. The bank isn't out of that money, the individual is.

Those that go around purchasing houses with the intentions of a quick resale for profit, that is the chance they take. The average home owner though, that is different.
 
Reply With Quote
  #28  
Old 10-08-2008, 10:30 AM
Mia's Avatar
Mia Mia is offline
v7n Mentor
 
Join Date: 04-28-06
Location: Lake Geneva, WI.
Posts: 552
iTrader: 0 / 0%
Quote:
Originally Posted by thegamerslink View Post
The one thing I do think should be done, those that own homes, and have owned them for quite some time, say they purchased the house 10 years ago for $129,000 and because of the dishonesty of others no only is worth $84,000. Let those mortgages be renegotiated to the new value so those folks aren't sitting on a $40,000+ loss of liquidity, that would be all or more of the equity they had built up. The bank isn't out of that money, the individual is.

Those that go around purchasing houses with the intentions of a quick resale for profit, that is the chance they take. The average home owner though, that is different.
The thing is, the homes purchased at $129,000 are not now worth only $84,000, they are actually worth $160,000. The problem is, the dishonest people valued that $129,000 home at $350,000 and then took out $84,000 in equity.

Make sense? Home values have still risen. They never fell.... The problem is, they rose and traditional have risen with the rate of inflation, not with the Mark to Market philosophy that we've seen abused.

Home values have not decreased. The over valuation has decreased. That $129,000 home is worth no less than it was the day it was purchased. Its just worth less than it was over valued at on top of that $129,000.

If that makes sense.
 
Reply With Quote
  #29  
Old 10-08-2008, 10:58 AM
TechWizard's Avatar
TechWizard TechWizard is offline
v7n Mentor
 
Join Date: 07-26-07
Location: Georgia
Posts: 6,156
iTrader: 2 / 100%
That makes sense, perfect sense and I am very much for getting rid of the mark to market practice.

There are those, and not as many that are living in neighborhoods that in fact the values of their home have in fact dropped because of a number of other homes going into default. A homes value is partially determined on the selling prices of homes surrounding that home. So it is in some cases this that has caused the value of a few peoples homes to drastically decrease, even beyond the exploded and realistic value difference. These are the ones I was referring to, not all mortgages.
 
Reply With Quote
  #30  
Old 10-08-2008, 11:50 AM
Mia's Avatar
Mia Mia is offline
v7n Mentor
 
Join Date: 04-28-06
Location: Lake Geneva, WI.
Posts: 552
iTrader: 0 / 0%
That make sense! Its all relative I guess.
 
Reply With Quote
Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues

Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Fannie and Freddie m42 Controversial Social Issues 0 07-17-2008 09:05 AM


V7N Network
Get exposure! V7N I Love Photography V7N SEO Blog V7N Directory


All times are GMT -7. The time now is 04:33 PM.
Powered by vBulletin
Copyright 2000-2014 Jelsoft Enterprises Limited.
Copyright © 2003 - 2018 VIX-WomensForum LLC