Liberal Hogwash
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sean-van-der-smythe — 9 years ago(July 16, 2016 03:14 AM)
You're okay covering the asses of those too-big-to-fail banks though? Who even argued you should be obligated to cover the asses of the dumb dumbs? I'm pretty sure that wasn't a message of the movie.
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orignlsinz — 10 years ago(August 31, 2015 03:56 PM)
You are absolutely correct. There were three parties responsible for the housing crisis; The government that forced the banks to lend out subprime loans to broke people, the banks who took full advantage of, and abused, the situation, and the home buyers who accepted huge financial obligations without any financial understanding of them. Personal responsibility is not in the progressive/liberal vocabulary, though.
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Stiles5339 — 10 years ago(September 28, 2015 12:13 PM)
This film went above and beyond that. The main things that were pointed out - eviction companies can an do steal items from outside/inside of homes, don't completely listen and take your landlord's word for things - they could be conning you and you will get evicted for buying into it if you aren't careful, eviction companies have and can file fraudulent reports to illegally take away property that is still legally yours. Like Wallstreet - the act of what goes on at Wallstreet isn't bad, it's the lengths greedy people will go to in order to manipulate the system regardless of who or what is hurt along the way. Saying it's about evictions is just scratching the surface, that isn't really what the film addressed rather the illegal fraudulent practices that some commit.
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Stiles5339 — 10 years ago(September 30, 2015 10:13 AM)
Did you see the movie? Some, like Michael Shannon's character, take advantage of the system because of their greed - he was ripping off people and the government while smiling about it. I highly doubt forging fraudulent documents and stealing from homes (inside and out) is part of their job description especially when it was important to keep all of it under the radar. That isn't to say all brokers are greedy, the film explored two different types of brokers - Garfield and Shannon both who had a different approach to the job. Granted, Garfield's character did commit crimes as well along the way; in the end he saw that what he was doing wasn't right. Garfield's character being, I hope, what most brokers are like. Michael Shannon basically playing an equivalent of Gordon Gecko who acted outside of the system as well.
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buddytesla-1 — 10 years ago(October 06, 2015 10:52 AM)
The left can't have it both ways. The AP wrote puff pieces on Countrywide calling them "the bank with a heart" for giving home loans to people other banks wouldn't. Then when the beep hit the fan and all these people lost their homes, the same media called them "predatory lenders". Making it easier to get home loans is going to drive real estate prices up, it's called "supply and demand". This was a government manufactured disaster.
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mikeyflatley — 10 years ago(October 08, 2015 02:53 PM)
Werd. Its a very simple concept really and no super finance knowledge required. Buy low, sell high. When ur neighbor's home wuz 300k and now sellin 4 a mil, well it doesn't require rocket science 2 know dis is overvalued.
Werd 2 ur mudda, bruddafckka -
bimsie_01 — 10 years ago(October 12, 2015 05:55 PM)
When we bought our house,through a VA loan,the lenders offered to let us buy twice the home we wanted.Im glad we didnt do it,though.Medical issues would have made it impossible to keep up with that kind of mortgage.And as for the builders here selling new homes like we bought,they used all kinds of incentives to get you to buy homes you couldnt afford:Free appliances,folding in the cost of adding a pool to the cost of your mortgage,etc.Our loan was bought by three different banks within a year.Yeah,some of it is common sense by the buyer,but everyone was in on the shenanigans.
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Jimbo_BSD — 10 years ago(January 28, 2016 11:51 PM)
This is why I love conservatives like you. You haven't seen the movie. Your post is a full 4 months before it's limited theatrical release and even longer before the DVD came out. And you've absolutely made up your mind about how the subject is handled. You're proudly ignorant and angry. Like most conservatives.
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dtizzlefosho — 10 years ago(February 02, 2016 02:10 PM)
So what IS your opinion on what he stated? You didn't really make a point other than "See the movie, first!"- which I agree with, for the record.
But what is your problem with the content of his message. I'm honestly curious. You see, I was a broker back in those days. And I was notorious for telling people "Sure, I can qualify you for that amount, BUT" before telling people that living in California was not enough of a reason to take on a financial obligation they couldn't afford even if they were technically approved. You wouldn't believe the responses I would get. You see, all the knowledge in the world doesn;t really matter because this is America- land of credit cards. Americans, by and large, are not concerned with how they will pay for things. and when you try to educate them (I'm saying this from experience) their response is that it is none of your business what they can or can;t afford.
Except that is the problem. Most Americans have no idea what they can afford when it comes to borrowing massive sums of capital. Which would be fine if they were open to some advice. But they largely are not. this was a very common scenario in those days
"Yeah I live in San Diego and I'd like a loan for $450,000"
"Okay, how much do you make?"
(Booming with pride) "$100,000/yr"
"Okay sir, well it is a solid income, but unfortunately you live in CA and from experience drawing up loans literally every day of my life, you can't really afford that much house."
"Well that is just how much houses around here cost."
"Okay sir. I don't mean to be rude or anything but it sounds like you probably aren't in a position to buy right now. I'd be happy to send you some resources on good rental options, though."
"No way. I make 6 figures. I am entitled to own a home. Is this your system saying this or just your opinion? You know what? Transfer me. I need to talk to somebody who will just get me approved."
Join the jerks!