[daggerkobe]

who said it was your or my fault? It was Bush's fault for not putting a stop to it because he was enjoying bragging about how many new homeowners were owning homes. Political fodder for Dumbya. Now he's trying to crackdown when its already too late.

[element1286]

Originally Posted by daggerkobe

who said it was your or my fault? It was Bush's fault for not putting a stop to it because he was enjoying bragging about how many new homeowners were owning homes. Political fodder for Dumbya. Now he's trying to crackdown when its already too late.

Predatory lending, probably not. Bad business by the lender and the borrower is most likely. Giving out bad loans hurts both the lender and the borrower. I just think people don't actually believe that they might not be able to pay a loan off. And the lenders were happy to give them out assuming everyone was going to pay them off. It's a problem yes, but a problem created by president Bush no. What is he supposed to do? There is no reason for the government to do anything. People are just going to have to ride it out.

[daggerkobe]

all those subprime lenders didn't pop up by accident. They came about due to the boom in the real estate. The reason the government needed to step in was that many of these lenders practiced illegal and predatory lending practices. Many people who could qualify for prime loans were fooled and tricked into signing for subprime.

If these people deserved it as u seem to think then why is Bush getting involved at all????

[oddsmaker]

To blame Bush for all of the problems this country is currently facing is niave. As a conservative I'll admit I'm not happy with all of the decisions President Bush has made during his 8 years of presidency.

One could argue that many of the problems we faced today are due to Congress' love to spend tax dollars without any accountability; however, you can't ignore the Democrats too, as well as Republicans.

Weak Dollar- Many people believe a week greenback is a good thing. It makes products cheaper for oversea buyers; however, it drives investors to hedge against inflation with commodities like oil, gold, and other natural resources that have a 3 month, 6 month, 1 year, 3 year capitol gain.

Oil- Oil has skyrocketed in the past 6 years: oil speculators, weak dollar, and supply and demand. Did I mention the lack of congressional support for drilling and oil exploration? You liberal/democrates blame the high oil prices on Bush but you ignore the basic law of supply and demand. President Clinton shot down ANWAR which could currently be fueling our thirst right now for sweet light crude oil for gasoline and diesel engines.

Green Mentality- Many people don't understand that republicans and conservatives do not want to rid the world with black soot and sticky oil, but instead we want the ability to explore our natural resources while keeping it as safe as possible.

I honestly believe this whole "green" fade will be just that. It's choking our companies, wallets, and oil thirst.

Nuclear Energy- Do you realize that even France uses nuclear energy? Or Brazil is energy independent? We need to build nuclear powerplants and stop letting the minority opinion control and rule the majority; I'm not suggesting more than 50 percent of the US Population wants nuclear powerplants but what I am suggesting is that the next time you fill up your car, get your electric bill, or purchase high food products due to corn prices think of the tree huggers, envirornmentalists, and democtrats... Afterall they want high oil prices... just not this fast.. lol

http://www.youtube.com/v/AJLdHfIBnr0&hl=en

[element1286]

Originally Posted by daggerkobe

all those subprime lenders didn't pop up by accident. They came about due to the boom in the real estate. The reason the government needed to step in was that many of these lenders practiced illegal and predatory lending practices. Many people who could qualify for prime loans were fooled and tricked into signing for subprime.

If these people deserved it as u seem to think then why is Bush getting involved at all????

I am just saying that I don't think people who tricked into signing bad loans by companies because the lenders lose money when a loan is not re payed. I just don't buy the fact that this is the cause of predatory lending, but it is the cause of bad business. I think he is getting involved because it looks good to go after "predatory lenders." Politicians cannot be confused with economists by any means.

[element1286]

Oddsmaker I couldn't agree more.

I would like to add that I support any type of plan that will help the United States become energy independent. Whether it be a combination of drilling, wind/solar, bio fuels (which doesn't seem to be a good investment so far), coal to oil, and nuclear, I support it if it will help with energy costs. Everyone knows that we have to transition from oil to another fuel, but for the here and now drilling is the best option.

[oddsmaker]

Originally Posted by element1286

Oddsmaker I couldn't agree more.

I would like to add that I support any type of plan that will help the United States become energy independent. Whether it be a combination of drilling, wind/solar, bio fuels (which doesn't seem to be a good investment so far), coal to oil, and nuclear, I support it if it will help with energy costs. Everyone knows that we have to transition from oil to another fuel, but for the here and now drilling is the best option.

People don't understand that. It's a simple law: Supply and Demand. People argue the oil companies have tons of land to drill; however, land without any oil underneath it doesn't bare fruit does it?

We need to provide more supply for demand while researchers continue to find a better alternative source of energy.

[element1286]

Originally Posted by oddsmaker

People don't understand that. It's a simple law: Supply and Demand. People argue the oil companies have tons of land to drill; however, land without any oil underneath it doesn't bare fruit does it?

We need to provide more supply for demand while researchers continue to find a better alternative source of energy.

Exactly. We also need more people in high-ranking government positions that actually understand how the economy works.

[daggerkobe]

You don't seem to get it. Tricking people into signing bad loans is a crime. For example several auto dealerships in my area were shut down during busy weekends and employees arrested and charged for scamming borrowers. So why shouldn't home lenders that do the same thing be treated the same?

Secondly who says these subprime lenders went into business to fail? There are many successful subprime lenders in credit cards, auto loans and home. High risk = high rewards. If they knew their businesses would fail due to the real estate bust and high energy prices why would they go in to a high risk business in the first place? That is beyond ridiculous.

[daggerkobe]

There is no shortage of oil that's silly. If demand is truly high why is OPEC shutting down production? Why aren't oil prices doubling and tripling elsewhere such as Europe? Don't they use gas too???? And why is oil 15 cents a gallon in Venezuela??????????

[element1286]

Originally Posted by daggerkobe

You don't seem to get it. Tricking people into signing bad loans is a crime. For example several auto dealerships in my area were shut down during busy weekends and employees arrested and charged for scamming borrowers. So why shouldn't home lenders that do the same thing be treated the same?

Secondly who says these subprime lenders went into business to fail? There are many successful subprime lenders in credit cards, auto loans and home. High risk = high rewards. If they knew their businesses would fail due to the real estate bust and high energy prices why would they go in to a high risk business in the first place? That is beyond ridiculous.

I am saying that I don't think people were tricked into signing anything. Of course there might be some cases, but as a rule they were just loans they couldn't pay off.

And of course they didn't go into business to fail.

All I am saying is that some lenders gave out loans based on bad information, or incompetence, or a bad business model. And people took these loans not actually knowing how they work or if they could pay the loan back in the long run. I don't think it has anything to do with predatory lending.

[daggerkobe]

Again you don't seem to get it. Bad businss model or bad loan aside they were making GOOD money!!!!!!!!!! their bubble burst when the real estate market crashed not because of any bad loans or whatnot. If the bubble hadn't burst they would still be in business and raking in the $$$$$$$$$. Has nothing to do with bad loans or bad business model!!!!!!!!!

[element1286]

Originally Posted by daggerkobe

There is no shortage of oil that's silly. If demand is truly high why is OPEC shutting down production? Why aren't oil prices doubling and tripling elsewhere such as Europe? Don't they use gas too???? And why is oil 15 cents a gallon in Venezuela??????????

Because OPEC is a cartel, they don't use the same competition principles. They shut-down production to reduce the demand. This artificially increases prices. Europe isn't as dependent on OPEC as the United States is, and Venezuela's oil is nationalized and run by the government.

[oddsmaker]

Originally Posted by daggerkobe

You don't seem to get it. Tricking people into signing bad loans is a crime. For example several auto dealerships in my area were shut down during busy weekends and employees arrested and charged for scamming borrowers. So why shouldn't home lenders that do the same thing be treated the same?

Secondly who says these subprime lenders went into business to fail? There are many successful subprime lenders in credit cards, auto loans and home. High risk = high rewards. If they knew their businesses would fail due to the real estate bust and high energy prices why would they go in to a high risk business in the first place? That is beyond ridiculous.

Have you ever heard of a credit report? If I was a gambling man I bet you're afraid to even look at yours.

People need to understand something. The government actually put stress on lenders to approve loans more frivolously than before. It isn't appropriate to put all the blame on lending institutions; instead, you should share the blame on the lender and lendee.

If you are too stupid to understand a subprime mortgage then you're too stupid to even finance a home. Granted I don't like the "small print" but I'm not too stupid to read it.

Whatever happen to self responsibility? Here's the deal: know you're price range, know you're income, job stability, and buy a home in accordance to those issues.

Also, don't take this wrong, I can provide citations in a hour or so but did you know that the majoring of foreclosures are minorites?

I'm sorry but I can't even believe congress would make us educated people who are financially wise to foot the bill for some guy who grabbed an adjustable rate mortgage instead of a fixed rate for 15 or 30 years.

[element1286]

Originally Posted by daggerkobe

Again you don't seem to get it. Bad businss model or bad loan aside they were making GOOD money!!!!!!!!!! their bubble burst when the real estate market crashed not because of any bad loans or whatnot. If the bubble hadn't burst they would still be in business and raking in the $$$$$$$$$. Has nothing to do with bad loans or bad business model!!!!!!!!!

If companies are giving out loans that default they are bad loans. Now obviously even the best run companies will give out some bad loans, but these companies were giving out a disproportionate amount of bad ones. Bubble's burst, they knew, and if they didn't they were running a poor business. It is the lenders and the borrowers fault.