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Banks, Credit Unions, and Fees: Oh my!

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  • LynahFan
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by FlagDUDE08 View Post
    What ever happened to people being able to think for themselves, making intelligent decisions to better their lives, and being accountable for bad decisions?
    Let me explain to you how this works: you see, the corporations sit there in their... in their corporation buildings, and... and, and see, they're all corporation-y... and they make money.

    Leave a comment:


  • FlagDUDE08
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    What ever happened to people being able to think for themselves, making intelligent decisions to better their lives, and being accountable for bad decisions?

    Leave a comment:


  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Almington View Post
    I have a Modest Proposal: If the government wanted to actually fix the problem they should just borrow the tillions that it would take to pay off everyones existing first mortgage. Banks win, homeowners win, politicians get reelected, and the housing market and broader economy get saved. Sounds like a win-win to me. The resulting economic boom will allow us to pay off the debt in no time flat.
    Wow...it's been almost two hours and no one has screamed "Socialism!" yet...such restraint from this crowd

    Needless to say, this idea has my backing, for what little its worth.

    Leave a comment:


  • ScoobyDoo
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    How dare they besmirch a real American hero like Sean Hannity. I weep for this nation.

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  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!



    The Marines use...um..."colorful" language so this clip may be NSFW. (I know..a Marine cursing? What the?)

    Leave a comment:


  • goldy_331
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Almington View Post
    I have a Modest Proposal: If the government wanted to actually fix the problem they should just borrow the tillions that it would take to pay off everyones existing first mortgage. Banks win, homeowners win, politicians get reelected, and the housing market and broader economy get saved. Sounds like a win-win to me. The resulting economic boom will allow us to pay off the debt in no time flat.
    So this is similar in tone and intent to the original "A Modest Proposal" in response to "the Irish Problem" eh?

    Leave a comment:


  • Almington
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    I have a Modest Proposal: If the government wanted to actually fix the problem they should just borrow the tillions that it would take to pay off everyones existing first mortgage. Banks win, homeowners win, politicians get reelected, and the housing market and broader economy get saved. Sounds like a win-win to me. The resulting economic boom will allow us to pay off the debt in no time flat.

    Leave a comment:


  • LynahFan
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Priceless View Post
    I guess it's just luck that the people ripping the band-aid off are "job creators" and those suffering the pain are...um...not.
    Yeah, I mean, why should we allow luck to have any hand in things when we could just have a powerful nanny state step in and enforce equality of outcome for all?

    The homeowners signed contracts, and those still mean something. If there are instances of fraud, false advertising, or negligence on the part of the lenders, by all means bring those specific cases to light and prosecute to the full extent of the law. But if the government gets into the habit of broad-brush meddling in legal contracts, the markets will tank in a way that would make the ride so far seem like a kiddie coaster. Investors hate uncertainty - that's why contracts exist in the first place. If they have to start doubting the certainty of contracts in the US, they will turn to other markets so fast it will make your head spin. Maybe (just maybe) then people would start to realize how many American jobs actually *do* depend on having a strong Wall Street underwriting Main Street.

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  • dxmnkd316
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Subscribed because if I don't, my bank is going to charge me a $5 fee.

    Leave a comment:


  • ScoobyDoo
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Priceless View Post
    I guess it's just luck that the people ripping the band-aid off are "job creators" and those suffering the pain are...um...not.
    Not really.

    Job Creators have an easier job creating as their taxes go to zero. We're just not doing a good enough job for them.

    Leave a comment:


  • mookie1995
    replied
    Originally posted by Priceless View Post
    *****http://media.egotvonline.com/wp-content/uploads/2011/10/Day_7_Occupy_Wall_Street_September_23_2011_Shankbo ne.jpg******
    i'll bet she swallows

    Leave a comment:


  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by LynahFan View Post
    Why do you have such a hard time admitting that this will cost the banks money? Can I borrow some money from you interest-free until I get back on my feet?


    If the banks thought that letting the homeowners live in the houses rent-free for a while were a better option, they would already be doing it. When a bank forecloses, it is the lesser of two bad options that it has - it's a last resort to cut their losses.

    The fact is that we built too darn much housing in this country, and too much of it was in the high-priced "luxury" market. The price of those houses must come down - simple supply and demand. Propping up a bloated market only extends the time of misery. It's better to rip off that band aid and get started on the road to recovery now.
    I guess it's just luck that the people ripping the band-aid off are "job creators" and those suffering the pain are...um...not.

    Leave a comment:


  • LynahFan
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Priceless View Post
    They'd be staying in the house, but still owe rent/mortgage. When they are back on their feet financially they can pay back the mortgages.
    Why do you have such a hard time admitting that this will cost the banks money? Can I borrow some money from you interest-free until I get back on my feet?

    Or the precious investors can get pennies on the dollar through foreclosure and we can increase the homeless population. That sounds much better.
    If the banks thought that letting the homeowners live in the houses rent-free for a while were a better option, they would already be doing it. When a bank forecloses, it is the lesser of two bad options that it has - it's a last resort to cut their losses.

    The fact is that we built too darn much housing in this country, and too much of it was in the high-priced "luxury" market. The price of those houses must come down - simple supply and demand. Propping up a bloated market only extends the time of misery. It's better to rip off that band aid and get started on the road to recovery now.

    Leave a comment:


  • Guest's Avatar
    Guest replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by LynahFan View Post
    But during the moratorium, the homeowners get to stay in the houses without paying their mortgages, right? That sure sounds like giving them something for free to me. And the banks have a ton of capital invested in those properties that would not be making a return during the moratorium - sounds like it's costing them something. Dunno how you do math, but that sure sounds like taking something from the banks and giving it to the homeowners.
    They'd be staying in the house, but still owe rent/mortgage. When they are back on their feet financially they can pay back the mortgages.

    Or the precious investors can get pennies on the dollar through foreclosure and we can increase the homeless population. That sounds much better.

    Leave a comment:


  • LynahFan
    replied
    Re: Banks, Credit Unions, and Fees: Oh my!

    Originally posted by Priceless View Post
    Consider the demand isn't even canceling foreclosures, but placing a moratorium on them. It's not like the banks are giving this land away or the government is seizing it from them, just maybe it's a good idea not to toss a bunch of families onto the street in he middle of an economic collapse.
    But during the moratorium, the homeowners get to stay in the houses without paying their mortgages, right? That sure sounds like giving them something for free to me. And the banks have a ton of capital invested in those properties that would not be making a return during the moratorium - sounds like it's costing them something. Dunno how you do math, but that sure sounds like taking something from the banks and giving it to the homeowners.

    Leave a comment:

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