Congress races to find mortgage fix

I have a very simple solution. Those people who got in on a very low interest rate, and that were making their payments at that amount, lower the payments back down! getting something every month is better than nothing! I guess it's just too simple.

freeze the interest rate. and also stop letting people buy houses they can't afford. we should not be bailing out these people. they just need to lower their standard of living, seniors have been doing this for years. now their faced with buying medicine or buying food , you think washington cares about that ,i think not

I really dont like my tax dollars going to repair the screw ups of those who cant/won't read the fine print...ADJUSTABLE RATE!

Why is the Federal government gettin involved. This is not a Federal matter. It's a banking and a personal problem. Let them fix it not the taxpayers of this country. Don't understand why the Federal Government thinks they need to get involved? Bad chioces were made by the two parties involved, let them fix it.

The reason the Fed is getting involved is our friends over on Wall St. CANNOT and will NOT suffer any loss. The real power behind the throne so to speak. I say if your bank wrote mortgages with adjustable interest rates or any other dubious practices designed solely to make your business more attractive to Wall St. types (which is most assuredly the case) then you deserve to suffer. The only Fed fix that would be any type of vindication would be to nullify those transactions and auction these properties off to the highest CASH bidders. This would end falsely inflated projections and speculations attempting to dredge funding based upon an outright lie. Housing cost increases of the magnitude speculators have enjoyed the last few years are unsustainable and outright dangerous to the American economy. As if the exportation of our industries and the fact that the bonus happy big three automakers can't produce a decent car weren't enough to worry about.

Spankey wrote:

I really dont like my tax dollars going to repair the screw ups of those who cant/won't read the fine print...ADJUSTABLE RATE!

AMEN!

I would only add that just because you qualify for $500,000 does not mean you have to spend that much. ESPECIALLY WHEN THE RATE IS ADJUSTABLE.

retired01 crossville TN wrote:

Why is the Federal government gettin involved. This is not a Federal matter. It's a banking and a personal problem. Let them fix it not the taxpayers of this country. Don't understand why the Federal Government thinks they need to get involved? Bad chioces were made by the two parties involved, let them fix it.

Because most of the lenders involved are out of the jurisdiction of the states involved. Then you got to understand that the entire ARM system was a scam from the start. It wasn't like a couple of dumb home buyers got shaded by a pushy salesman. It was more like entire corporations designed a way to fleece America and dam near got away with it.

retired01 crossville TN wrote:

Why is the Federal government gettin involved. This is not a Federal matter. It's a banking and a personal problem. Let them fix it not the taxpayers of this country. Don't understand why the Federal Government thinks they need to get involved? Bad chioces were made by the two parties involved, let them fix it.

Democrats need the votes of the "working poor".

KNOXVILLE PARENT wrote:

freeze the interest rate. and also stop letting people buy houses they can't afford. we should not be bailing out these people. they just need to lower their standard of living, seniors have been doing this for years. now their faced with buying medicine or buying food , you think washington cares about that ,i think not

Not Washington's job to decide who gets what house...Thats socialism. Washington shouldn't care. This is greedy capitolism. Capitolism is legal...People need to be responsible.

Spankey wrote:

<quoted text>Democrats need the votes of the "working poor".

What does that have to do with this topic?

Spankey wrote:

<quoted text> Not Washington's job to decide who gets what house...Thats socialism. Washington shouldn't care. This is greedy capitolism. Capitolism is legal...People need to be responsible.

This nation has always been a capitalist country. That's what the American Dreams are made on. It has nothing to do with whether you are a Democrat or Republican.

retired01 crossville TN wrote:

<quoted text> What does that have to do with this topic?

The Democrats always pushing some social agenda. I personally think everyone should be responsible for his or her own actions. Tha title was "CONGRESS races to find mortgage fix" Congress is controled by democrats. They need votes.(The more they speak the more votes they need)
Yes, we have always been capitalists, and I wouldnt have it any other way.

Okay, Spankey. Got y'all covered. I agree with your last comment, and the other two I mis-understood.

retired01 crossville TN wrote:

Okay, Spankey. Got y'all covered. I agree with your last comment, and the other two I mis-understood.

Its cool, I have read your comments on here before, and I knew that we didn't differ too much. I just think the gov't needs to let capitolism and the free market do its thing. Communism and socialism are not things to play with. I know you agree with that. Thanks Retired.

This is exactly what the politicians was working on or waiting for.

Let the Banking Insitutions create a big problem and in turn the people will scream for the Federal Government to come and fix it. So here comes Big Brother and BINGO, and great big power grab because the people asked for it, to save themselves.

Government now totally controls the Banking System here, in this country. It has not happened yet, but its right around the corner, and I mean real close.

Isn't it wonderful how Socialism works? Norman Thomas was right. "American people will never knowingly adopt Socialism, but under Liberalism they will adopt every fragment of the Socialist program until one day America will be a Socialist nation without knowing how it happened."

The Government has twice, violated the U.S. Constitution.
1. By turning over our monetary system to a private owned organization, called the Federal Reserve.
2. By creating money instead of printing and coining money. This was done by taking us off the Gold and Silver Standard, and starting up the FRN system.

We wouldn't be in this trouble if we stayed with the system given to us by our founding fathers. What say you?

retired01 crossville TN wrote:

This is exactly what the politicians was working on or waiting for.
Let the Banking Insitutions create a big problem and in turn the people will scream for the Federal Government to come and fix it. So here comes Big Brother and BINGO, and great big power grab because the people asked for it, to save themselves.

There were many attempts throughout the years to prevent catastrophe lending practices from happening as they have now gone from seed to a full blooming industry in collapse. There were legislative efforts presented to prevent this problem from even being planted in the first place. Therefore there are some in Congress that do try to be the voice and actions to prevent catastrophic economic corruptness from happening in the first place.
However, there are corrupted and out for their own interest congresspersons who are out to be paid by high money interests in order to make their own personal dynasty. Corrupted legislators as well as unregulated misbehaving financial institutes are not an example of free enterprise or of capitalism. These are the sign of conman at the helm of financial mechanisms. It is much like letting the cons incarcerated now for their scams control the government and the banking. They should probably be in these government housing projects but not having influence on our markets.

retired01 crossville TN wrote:

Government now totally controls the Banking System here, in this country. It has not happened yet, but its right around the corner, and I mean real close.
Isn't it wonderful how Socialism works? Norman Thomas was right. "American people will never knowingly adopt Socialism, but under Liberalism they will adopt every fragment of the Socialist program until one day America will be a Socialist nation without knowing how it happened."

Actually the first situation where the government controlled and produced the instrument of trade by having it backed by real valued collateral would be n line with our founding father's goals for fighting and winning this nations freedom from the Bank Of England. However in 1913 we again lost what our founding fathers fought for and gave the powers back to a few rich bankers worldwide to issue and value and devalue currency, plus not pay any taxes.

retired01 crossville TN wrote:

The Government has twice, violated the U.S. Constitution.
1. By turning over our monetary system to a private owned organization, called the Federal Reserve.
2. By creating money instead of printing and coining money. This was done by taking us off the Gold and Silver Standard, and starting up the FRN system.
We wouldn't be in this trouble if we stayed with the system given to us by our founding fathers. What say you?

I however agree with your closing arguments. We should have real money instead of money which may be backed by nothing in actuality.
We should not violate our own constitution and should defend it thusly.

I say - LET IT ALL FALL DOWN..LETS GET THIS SHOW ON THE ROAD!

wooster wrote:

I say - LET IT ALL FALL DOWN..LETS GET THIS SHOW ON THE ROAD!

What all fall down? The economy, bankers, credit card institutes, buildings, fences or oil prices? I'll take falling oil prices. I haven't watched commercials from wal-mart lately, do they have the smiley showing dropping oil prices yet.

The financial system - the whole enchilada.
There is no fixing this turd.