How much more can they jack the tax up in Iceland to cover this
Not sure they have to... The basically told the collapsed banks to eat it.
Sent from my smart phone where autocorrect will make me look stupid.
Congrats, iceland!!
- Thread starter Mjolnir
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Not sure they have to... The basically told the collapsed banks to eat it.
Sent from my smart phone where autocorrect will make me look stupid.
^^^This. Why is it "Good" that people that signed a contract & agreed to pay someone back money that they were loaned no longer have to pay the cash back? The purchasers who either could not afford the property or overestimated the value of the property they had to have are at fault. The purchasers should remain responsible for their actions. No one forced them to take someone else's money to purchase anything.
Side note: I lived in South Florida after the storm (just before the housing market tumbled there) and the only reason I didn't purchase a home there was because I thought they were GROSSLY overpriced. Thankfully, I went with my gut, otherwise I would've lost my ass when I decided to move back to LA when the market was crashing.
tupperware9mm
Well-Known Member
How much did they take from you?
Does anyone understand that our "money" is actually debt. And it really cannot be debt since it does not create ANYTHING. A loan is merely a ledger entry. But you "owe" plus interest. And they take your ledger entry and loan 90% of it out to others.
THIS is what our Revolutionary War was about. We won militarily but we've lost (obviously) economically.
The Aldrich Bill (Federal Reserve Act) sealed our fate and the IBC Banksters (Int'l Banking Cartel Banker/Gangsters) have consolidated their power over finance, media and infrastructure.
THIS is what our Revolutionary War was about. We won militarily but we've lost (obviously) economically.
The Aldrich Bill (Federal Reserve Act) sealed our fate and the IBC Banksters (Int'l Banking Cartel Banker/Gangsters) have consolidated their power over finance, media and infrastructure.
"Took" was the wrong word to use....I should have worded what I was trying to say differently...my mistake...
preyed upon gullible people ...and thats not a crime if you are a bank or a payday loan company.
Sad that we've become so status conscious that we sell our soul to look like others want us to look
Overall I think " took " is a good word...took advantage of
A few lines can say so much...and sum up whats wrong with the US today. We've been manipulated from all sides by one central " mind "
It's a perfect storm of several entities all of the same mind...all about different methods to the same purpose. It's easy to see when you look at it a while.
When I bought a house, the bank LENT me 150K. I signed agreeing to pay back that plus 4% interest. It seemed fair to me. Now, the money they lent me wasn't really theirs. Other people put money in savings that they lent me. Those people expected to earn maybe 2%. So, when the government stepped in and said I didn't have to pay back my loan those investors got cheated... that's not right either.
gbundersea
Just my 2¢
The original source link has been updated and now states that the video is fake. So much for this non-story. 
However, it's sad to see such support for what would have been essentially another bailout, and on a massive scale.
If a lender actually cheats or deceives a person, then throw the book at the lender and put them out of business and into jail. Period.
BUT, as LACamper stated well, if a person made the decision to borrow money and commit to a legal contract, then they need to fulfill it. Otherwise, someone else is footing their bill. To bail them out is simply rewarding bad behavior.
Banks failed, the government bailed them out, so they know they can get away with the same irresponsible actions again. After all, the .gov says "they cannot be allowed to fail." (Which is utter BS.)
Same for GM. GM failed, the government bailed them out, and in return they gave us more union power AND the Chevy Volt!
People are out of work, so instead of concentrating on job growth, the government extends and expands unemployment benefits, making it more attractive to stay unemployed.
Government needs to stay the F*CK out of private enterprise and let capitalism work.
Instead, we continue the slide toward a socialist nanny state, and the anarchists and conspiracy theorists merrily sing praises for the same tactics when applied to irresponsible parties whose only difference is that they happen to be non-corporate. Sheesh!
However, it's sad to see such support for what would have been essentially another bailout, and on a massive scale.
If a lender actually cheats or deceives a person, then throw the book at the lender and put them out of business and into jail. Period.
BUT, as LACamper stated well, if a person made the decision to borrow money and commit to a legal contract, then they need to fulfill it. Otherwise, someone else is footing their bill. To bail them out is simply rewarding bad behavior.
Banks failed, the government bailed them out, so they know they can get away with the same irresponsible actions again. After all, the .gov says "they cannot be allowed to fail." (Which is utter BS.)
Same for GM. GM failed, the government bailed them out, and in return they gave us more union power AND the Chevy Volt!
People are out of work, so instead of concentrating on job growth, the government extends and expands unemployment benefits, making it more attractive to stay unemployed.
Government needs to stay the F*CK out of private enterprise and let capitalism work.
Instead, we continue the slide toward a socialist nanny state, and the anarchists and conspiracy theorists merrily sing praises for the same tactics when applied to irresponsible parties whose only difference is that they happen to be non-corporate. Sheesh!
SpeedRacer
Well-Known Member
I hate signing my mortgage check every month as much as anyone else, but I don't blame the bank. Like LACamper said, me and the lender came to a mutual agreement and I signed the papers. Good decision or bad, it was MY decision. Wells Fargo didn't put a gun to my head and force me to purchase a home. Would people feel the same way if it was a car loan? If everyone ran out and got a loan for a Mercedes they couldn't afford, would you feel the same about the government clearing those debts? What if you were working hard and driving around in your paid off 10 year old beater, because that was the responsible decision, while everyone else got their **** for free due to making an irresponsible decision?
We are into our 5th (?) generation of folks who receive entitlements which encourage them to not work, not be productive other than making babies, not to become educated. Why go to school ? You get the same check anyway. You know how it starts ? By the government paying for you to do nothing. I would suggest that Iceland is starting on their first generation. Check back in a few years and see if they are any better for it. And how long do you think it will take for most of these homeowners to again have a maxed out mortgage or home equity loan ?
The original source link has been updated and now states that the video is fake. So much for this non-story.
However, it's sad to see such support for what would have been essentially another bailout, and on a massive scale.
If a lender actually cheats or deceives a person, then throw the book at the lender and put them out of business and into jail. Period.
BUT, as LACamper stated well, if a person made the decision to borrow money and commit to a legal contract, then they need to fulfill it. Otherwise, someone else is footing their bill. To bail them out is simply rewarding bad behavior.
Banks failed, the government bailed them out, so they know they can get away with the same irresponsible actions again. After all, the .gov says "they cannot be allowed to fail." (Which is utter BS.)
Same for GM. GM failed, the government bailed them out, and in return they gave us more union power AND the Chevy Volt!
People are out of work, so instead of concentrating on job growth, the government extends and expands unemployment benefits, making it more attractive to stay unemployed.
Government needs to stay the F*CK out of private enterprise and let capitalism work.
Instead, we continue the slide toward a socialist nanny state, and the anarchists and conspiracy theorists merrily sing praises for the same tactics when applied to irresponsible parties whose only difference is that they happen to be non-corporate. Sheesh!
Might want to look into this finding
W1nds0rF0x
Snap, Crackle, Pop.
That makes a little more sense. Far be me from saying bankers may not be corrupt, but *I* did make the loan for my house so I should have to pay it off.
We'll NEVER get our nation back if we don't understand "Money"...
It was a "good run" though my people only partook in it since 1969/70 or so. Any way, it's better to have nibbled on scraps then to have not nibbled at all.
Good bye, America.
P.S.
None of us owe the banks anything.
It was a "good run" though my people only partook in it since 1969/70 or so. Any way, it's better to have nibbled on scraps then to have not nibbled at all.
Good bye, America.
P.S.
None of us owe the banks anything.
Absolutely, I just look at the media campaign over the years telling young people that the most important thing is the over rated secure for the family house.
Then the bank ( mortage lender ) shows the first low payments and when it doubles in a year or two...failure
and still it is the ultimate fault of the borrower b/c they signed...sad but so
Can't excuse bailing on house loans but I do understand.
