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Rescue in works for housing woes
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Anonymous | 1:56 a.m. July 24, 2008
Bush favors this solution. Ask any Utah conservative: Bush can't do
anything wrong and anyone who holds him accountable, hates Bush.
Kevin | 5:30 a.m. July 24, 2008
More and more, the upside profits are private and the downside losses are
covered by taxpayers. I'm someone who wants to buy a house, but the
speculators (and various fools, in general) pushed the market up to a point I
don't believe to be realistic. I believe houses are still very
overvalued. I don't mind the wait necessarily. But it is not the role of
government to step in and prop up the market. It's wrong, and it's
making my wait longer than it has to be.
Comments continue below
DHM | 6:13 a.m. July 24, 2008
I wonder why we do not hear anything about prosecuting those who are responsible
for the mortgage meltdown. I do not mean those brokers and those who obtained
mortages who lied on their applications - I mean those who were pushing them to
do it.
I think Fredie and Fannie were aware what was happening and I wonder what they did to stop it. The government should prosecute and remove the wrongdowers before giving them a blank check.
I think Fredie and Fannie were aware what was happening and I wonder what they did to stop it. The government should prosecute and remove the wrongdowers before giving them a blank check.
annie | 6:18 a.m. July 24, 2008
We all need to be responsible for our actions. We cannot be bail out of all of
our mistakes. If we loose our house, so be it. If the banks have over loaned, so
be it. Let the chips fall where they may.
re: Anonymous | 6:57 a.m. July 24, 2008
You hate Bsh so bad that you can't even read straight. The article stated
"President Bush dropped his opposition to the measure" Opposition
means against. It's the democrates that are mostly for this.
Common Man | 7:04 a.m. July 24, 2008
If a common person had to claim a personal bankruptcy. The courts would take
everything away from him and mandate that he can't buy ANYTHING on credit
for at least 2 years, longer if it's a chapter 13. Plus he'd have to
go to a finance class to learn how to handle his obligations. Why don't we
treat the banks the same way they treat us? Let them have a "cool-off"
period. If it weren't for "credit" school tuition wouldn't
cost so much, cars wouldn't cost so much, etc.
To Kevin @ 5:30am | 7:07 a.m. July 24, 2008
I totally agree with you. We would like to purchase our own home as well, but we
don;t seem to get any breaks either and the wait gets longer and longer for us.
And I also agree that these houses for sale are very much over priced, which in
turn makes it even harder for us to even be looked at to qualify, unless we want
to purchase a one room dollhouse and there is one for sale on my street and
it's priced well over $170,000!!!
Dave | 7:23 a.m. July 24, 2008
Some are estimating this will end up costing us 500 billion.
MAD AS... | 7:38 a.m. July 24, 2008
The bottom line is that the Federal Government is out of control. I've
tried to stay in Bush's corner but unfortunately the man doesn't have
a conservative bone in his body.
Someone needs to let Congress and the President know that we there isn't a money tree that we can just take billions of dollars off of for every perceived "emergency". Stop inflating my currency!!!!
Someone needs to let Congress and the President know that we there isn't a money tree that we can just take billions of dollars off of for every perceived "emergency". Stop inflating my currency!!!!
re: DHM | 7:56 a.m. July 24, 2008
Uh, DHM, the government IS the party responsible. Fannie and Freddie were both
government-sponsored lenders. The legislators are giving themselves a blank
check when they should be given a pink slip.
We need to fire our federal legislators and replace them with others who have a fundamental and working knowledge of economics.
Contact your senators and tell them to oppose this bill! If this thing passes, anyone working in the mortgage industry will have to be finger printed. Every house in America will be part of the bulging government industry. Do we really want that? Can't there be any private industry left?
Why did the government want to get involved in mortgages in the first place? Why did the gov start up a lending institution?
We need to fire our federal legislators and replace them with others who have a fundamental and working knowledge of economics.
Contact your senators and tell them to oppose this bill! If this thing passes, anyone working in the mortgage industry will have to be finger printed. Every house in America will be part of the bulging government industry. Do we really want that? Can't there be any private industry left?
Why did the government want to get involved in mortgages in the first place? Why did the gov start up a lending institution?
BearLakeGuy | 8:04 a.m. July 24, 2008
No bail outs...
45 R's | 8:26 a.m. July 24, 2008
Only 45 Republicans voted for this bailout and its all Bush's fault?
Sorry, this round of inflation will lay squarely on the Democrats.
Priced out housing consumer | 8:58 a.m. July 24, 2008
Those of us priced out of the housing market are hurt by this in two ways.
First, the federal government (courtesy of congressional Democrats and President George W. Bush) is propping up housing prices, which keeps them out of reach for a lot of us.
Second, by printing more money, the federal government is making the money the rest of us have worth less in value.
Let's not kid ourselves that the federal government is helping the poor on this one. They're helping the fat cats.
First, the federal government (courtesy of congressional Democrats and President George W. Bush) is propping up housing prices, which keeps them out of reach for a lot of us.
Second, by printing more money, the federal government is making the money the rest of us have worth less in value.
Let's not kid ourselves that the federal government is helping the poor on this one. They're helping the fat cats.
Keith in Colorado | 9:03 a.m. July 24, 2008
This is insanity! One more nail in the coffin of our economy! We MUST do away
with the unconstitutional Federal Reserve and get our government out of the
management of the economy. If we or Israel go into Iran, it will be the last
nail in our coffin (unless of course, major bank failures bring usd down first).
willy | 9:28 a.m. July 24, 2008
Bush, Pelosi, Reid, Hatch fire them all they are traitors to the country. Makes
no difference which party is in power politicians are owned. Only people to
benefit from this bailout are foreign investors, banks, lenders, politicians and
Wall street. They will continue to suck the taxpayers dry for generations to
come. Dump the Federal Reserve and its phony money, reject foreign (Chinese)
products and Walmart, demand made in USA goods bringing back production and
value to our system.
The Other Kevin | 9:39 a.m. July 24, 2008
I hate this bill as a first time home buyer. Three years ago my sister bought a
house for $150,000 that is now "worth" $250,000. So while I was
toiling away in graduate school, housing prices skyrocketed while wages stayed
low and now I have to stretch myself to the max to afford a home. I was hoping
that prices would fall but this bill will now prevent that from happening.
Believe me I will consider this vote when I vote in November!
House Votes: Tale of the Tape | 10:23 a.m. July 24, 2008
Let's see who overwhelmingly voted for the Leave No Fiscally Reckless
Borrower, "Investor" and Bank Behind Act.
Votes by Party In Favor of the Bailout
Democrat: 226
Republican: 45
Votes by Party Opposing the Bailout
Democrat: 3
Republican: 149
President who initially decided to do the right thing by stating that he would VETO this bill, but unfortunately decided against it and against supporting the 95% of people who are paying their mortgages on time: 1
Utah's Elected Officials
Jim Matheson: Voted for the bailout
Chris Cannon: Opposed the bailout
Rob Bishop: Decided to abstain from voting
While the Democrats are the driving force behind this atrocity, both parties are to blame for it eventually becoming law.
Votes by Party In Favor of the Bailout
Democrat: 226
Republican: 45
Votes by Party Opposing the Bailout
Democrat: 3
Republican: 149
President who initially decided to do the right thing by stating that he would VETO this bill, but unfortunately decided against it and against supporting the 95% of people who are paying their mortgages on time: 1
Utah's Elected Officials
Jim Matheson: Voted for the bailout
Chris Cannon: Opposed the bailout
Rob Bishop: Decided to abstain from voting
While the Democrats are the driving force behind this atrocity, both parties are to blame for it eventually becoming law.
Keith in Colorado | 11:03 a.m. July 24, 2008
I just watched a Ron Paul report on YouTube, on the passage of this bill. Guess
what folks, included in the bill is a new law that your credit card companies
will now be required to report all your credit card transactions to the IRS.
That's right! More government control and oversite! Where's our
Constitution? Oh yeah, they played on our fears and told us we needed to give
up much of our liberties and rights in order to fight terrorism. This is only
the beginning! Next it will be your Debit Card and your checking account. Oh,
and don't forget the National I.D. card - it's right around the
corner. I can hear it now, "papers please"
Anonymous | 11:57 a.m. July 24, 2008
With the collective grumbling of millions of American motorists MAY (before a
election time) compel lawmakers to prove they're doing something, we know
there's no shortage of oil out there also. This is how "gas
station's" themselves use this commodities market for oil in this
hidden transparency all are overlooking, the recent jump in oil prices is caused
by excessive speculation, and all businesses do this. Works like this, oil sells
for say $55 a barrel on the stock market, however, the owner needs to BUY IT
RIGHT NOW for that price, but in the future (say 2 years from now) it may go up
to that $145 a barrel that you read about not in the news daily, so, now at the
pump, to pay for this later, they raise the price of gas, profit for the future,
for when oil reaches that price then. At least President Nixon put on a price
freeze back in the 70's when this went on back than, that stops this folks,
but it may also make the station go broke as well today. All you can do is call
your US Senator and Congressman today and every day.
Free enterprise | 12:01 p.m. July 24, 2008
Get the government out of housing, lending, farming and any other private
business sector. Governments role is to provide services not obtainable by any
other source. Bring business back to the USA, buy USA products, secure our
boarders and our economy and make us the greatest nation once again. We are to
dependant on foreign IMPORTS AND FOREIGN OIL, these deplete our economy and we
become hostage to foreign demands. ECOMOMIC FREEDOM/DO THE RIGHT THING
Anonymous | 4:00 p.m. July 24, 2008
You're power comes from a private business. How much is your bill going up
this year? I avoided California's Enron problems because my power is from a
publicly held utility.
How many billions have contractors loss in the last seven years?
My father bought his first home under the IG Bill.
How many billions have contractors loss in the last seven years?
My father bought his first home under the IG Bill.
Anonymous | 7:25 p.m. July 24, 2008
I think Fannie Mae and Freddie Mac would make a great VP call for Obamaism.
or try this;
EVERY ONE IN UTAH NOW - (before a election time starts) compel lawmakers to prove they're doing something, we know there's no shortage of oil out there also. This is how "gas station's" themselves use this commodities market for oil in this hidden transparency all are overlooking, the recent jump in oil prices is caused by excessive speculation, and all businesses do this.
CALL UP YOUR US SENATOR AND CONGRESSMAN TODAY.
or try this;
EVERY ONE IN UTAH NOW - (before a election time starts) compel lawmakers to prove they're doing something, we know there's no shortage of oil out there also. This is how "gas station's" themselves use this commodities market for oil in this hidden transparency all are overlooking, the recent jump in oil prices is caused by excessive speculation, and all businesses do this.
CALL UP YOUR US SENATOR AND CONGRESSMAN TODAY.
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Why keep paying on a loan that is underwater? Good for the bank, bad for the borrower.