Comments on: Morning Bell: Market Rescue Dos and Don’ts http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/ Tue, 14 Feb 2012 22:27:43 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Lonnie O'Sulliv http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6100 Lonnie O'Sulliv Sat, 27 Sep 2008 17:35:53 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6100 The feeding frenzy has started my sisters bankruptcy attorney contacted her saying that the bank that holds her loan is saying that she has not made payments (which she has proof to the contrary)to try to force her into foreclosure the attorney has told her that they have received from the lenders attorney's motions to the bankrupcy courts to relieve the automatic stay on the loan granted by the court. This is not an isolated incident according to the person she talked to it has all started in ernest since the bail-out has been in the news I can only see this as the same banks that are asking for us to bail them out are aggressivly trying to defraud not only the federal government and the tax payers, but do not care what they do to the people who are already in dire straits concerning the homes they are trying to keep. It being the week-end I have not been able to reach anyone in Washington to try to make them aware of this situation. If anyone else has become aware of simular situations it is very important to make them known. The feeding frenzy has started my sisters bankruptcy attorney contacted her saying that the bank that holds her loan is saying that she has not made payments (which she has proof to the contrary)to try to force her into foreclosure the attorney has told her that they have received from the lenders attorney's motions to the bankrupcy courts to relieve the automatic stay on the loan granted by the court. This is not an isolated incident according to the person she talked to it has all started in ernest since the bail-out has been in the news I can only see this as the same banks that are asking for us to bail them out are aggressivly trying to defraud not only the federal government and the tax payers, but do not care what they do to the people who are already in dire straits concerning the homes they are trying to keep. It being the week-end I have not been able to reach anyone in Washington to try to make them aware of this situation. If anyone else has become aware of simular situations it is very important to make them known.

]]> By: Thomas M. Nigro Sr. http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6098 Thomas M. Nigro Sr. Sat, 27 Sep 2008 16:32:42 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6098 Why not a repeat of FDR's HOLC. Let's not make this any harder than it has to be. Why not a repeat of FDR's HOLC. Let's not make this any harder than it has to be.

]]> By: r.mcleish sr. orl http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6060 r.mcleish sr. orl Fri, 26 Sep 2008 23:38:14 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6060 Obama is haughty, arrogant, supercilious and mean-spirited. I couldn't tolerate his snickering sneer. I hope others can see through his egotism. Obama is haughty, arrogant, supercilious and mean-spirited. I couldn't tolerate his snickering sneer. I hope others can see through his egotism.

]]> By: Victoe Baldo Rochest http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6055 Victoe Baldo Rochest Fri, 26 Sep 2008 20:05:48 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6055 The dummycrats are not so dumb, they got us again. God bless us all The dummycrats are not so dumb, they got us again. God bless us all

]]> By: Work Out, not Bail Out - Practically Speaking http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6013 Work Out, not Bail Out - Practically Speaking Fri, 26 Sep 2008 16:21:48 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6013 [...] the people and doing what this country needs.Heaven help us. I mean that literally. Read more: Market Rescue Dos and Don'ts  from the Heritage Foundation*Observation courtesy of Nick Reed interjecting on the Jay Weber show [...] [...] the people and doing what this country needs.Heaven help us. I mean that literally. Read more: Market Rescue Dos and Don'ts  from the Heritage Foundation*Observation courtesy of Nick Reed interjecting on the Jay Weber show [...]

]]> By: Larry Sayler, Yosemi http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6035 Larry Sayler, Yosemi Fri, 26 Sep 2008 15:52:30 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6035 Have to agree with Ken and others, we must have direct representation.These people in Congress "must" be responsible to constituents.If not removed........ Have to agree with Ken and others, we must have direct representation.These people in Congress "must" be responsible to constituents.If not removed……..

]]> By: Larry Sayler, Yosemi http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6034 Larry Sayler, Yosemi Fri, 26 Sep 2008 15:48:09 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6034 We, me-you need to be more responsible. While it is easy to make remarks and I am guilty of it as well, we need to remove our constituents ala Nancy Pelosi, Barny Franks, Chris Dodd?, Barbara Boxer, Waxman and others from conservative party that have gotten away from basic conservative beliefs. "No, No , No bailout with taxpayers money" This has to be resolved within the financial community. Otherwise they (Government) will not be forced to investigate the crimes involved in this meltdown. This message comes to you "under God". ================================================ Don't make me come down there. GOD We, me-you need to be more responsible. While it is easy to make remarks and I am guilty of it as well, we need to remove our constituents ala Nancy Pelosi, Barny Franks, Chris Dodd?, Barbara Boxer, Waxman and others from conservative party that have gotten away from basic conservative beliefs.

"No, No , No bailout with taxpayers money"

This has to be resolved within the financial community. Otherwise they (Government) will not be forced to investigate the crimes involved in this meltdown.

This message comes to you "under God".

================================================

Don't make me come down there.

GOD

]]> By: Jasper http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6021 Jasper Fri, 26 Sep 2008 13:16:51 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6021 There are no clean hands in this mess. President Bush himself in 2002 and 2003 forcefully pushed for an expanded GSE role in expanding home ownership for minorities and first time home buyers, including a $400+ Billion initiative by Fannie/Freddie. And a sea of money and low rates produced by Greenspan provided the fuel. Point is there is no point in blaming the democrats OR the republicans for the mess. Nobody had any serious objection to rising home prices, easy credit of all kinds, and lots of money being made on Wall Street until it all collapsed. There are no clean hands in this mess.

President Bush himself in 2002 and 2003 forcefully pushed for an expanded GSE role in expanding home ownership for minorities and first time home buyers, including a $400+ Billion initiative by Fannie/Freddie. And a sea of money and low rates produced by Greenspan provided the fuel.

Point is there is no point in blaming the democrats OR the republicans for the mess. Nobody had any serious objection to rising home prices, easy credit of all kinds, and lots of money being made on Wall Street until it all collapsed.

]]> By: Michael J O'Bri http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6018 Michael J O'Bri Fri, 26 Sep 2008 12:28:02 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6018 Great stuff! The liberals have an agenda make no mistake about it. Socialism is here, and Wall Street as we know it is history. Market forces are stronger than anyone in Washington realizes, and there are doubts that even with $700bn in cash banks will still be reluctant to lend to anyone with less than stellar credit. Sub prime does not mean poor, it means people with poor credit, a history of not paying back money. The market will dictate who obtains a loan and under what conditions. Folks with poor credit will be left out of the market. As for the purchase of the MBS and CDOs, if the government is the owner of all illiguid assets, where is the market? There is no market for this junk. Some alternatives should be explored....perhaps banks funding a private company, then unwinding these tranches and repackaging the best tranches and writing down the junk junk. But one thing for certain, the Franks, Dodds, Pelosi's, and Reids must stay out of this since it is they that have the socialist agenda, and want to redistribute income.Fannie and Freddie largely created this mess with the blessning of democrats. Keep then away. Great stuff! The liberals have an agenda make no mistake about it. Socialism is here, and Wall Street as we know it is history. Market forces are stronger than anyone in Washington realizes, and there are doubts that even with $700bn in cash banks will still be reluctant to lend to anyone with less than stellar credit. Sub prime does not mean poor, it means people with poor credit, a history of not paying back money. The market will dictate who obtains a loan and under what conditions. Folks with poor credit will be left out of the market.

As for the purchase of the MBS and CDOs, if the government is the owner of all illiguid assets, where is the market? There is no market for this junk. Some alternatives should be explored….perhaps banks funding a private company, then unwinding these tranches and repackaging the best tranches and writing down the junk junk. But one thing for certain, the Franks, Dodds, Pelosi's, and Reids must stay out of this since it is they that have the socialist agenda, and want to redistribute income.Fannie and Freddie largely created this mess with the blessning of democrats. Keep then away.

]]> By: Everett Royer http://blog.heritage.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6017 Everett Royer Fri, 26 Sep 2008 12:27:26 +0000 http://www.foundry.org/2008/09/26/morning-bell-market-clean-up-dos-and-donts/#comment-6017 Here here to Bill & Dwight. Bureaucracies continue to expand because they have to use all of their funding or they lose it, so they create ways to spend all of it, even if it is spent on employees or programs that are not necessary to operate the government. Barney, Chuck and their ilk need to have the bright lights of publicity shine on their past attempts to kill regulation of freddie mac and fannie mae so that housing in America would become socialized. Their ideas, "the hell with whether people could afford their mortgage payments, lets give them all houses" was an economic disaster waiting to happen, and boy did it happen! If some republicans get caught in the spotlight, so be it. Someone has got to thouroughly and objectively report on how congress and wall street got us into this mess and honestly report it to the American people. No cover ups, no partisan politics as usual. No liberal revisionist history. Just good old fashioned honest objective reporting. The American people are smart enough to look at the evidence and decide what happened. Here here to Bill & Dwight. Bureaucracies continue to expand because they have to use all of their funding or they lose it, so they create ways to spend all of it, even if it is spent on employees or programs that are not necessary to operate the government.

Barney, Chuck and their ilk need to have the bright lights of publicity shine on their past attempts to kill regulation of freddie mac and fannie mae so that housing in America would become socialized. Their ideas, "the hell with whether people could afford their mortgage payments, lets give them all houses" was an economic disaster waiting to happen, and boy did it happen! If some republicans get caught in the spotlight, so be it. Someone has got to thouroughly and objectively report on how congress and wall street got us into this mess and honestly report it to the American people. No cover ups, no partisan politics as usual. No liberal revisionist history. Just good old fashioned honest objective reporting. The American people are smart enough to look at the evidence and decide what happened.

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