Who is at Fault?

[Broompilot]

The Bankers, Insurance Co. Crooks!

Are they really? The other post is really good read:

The real Crook? People who without an Attorney at a closing table with so much put in front of them that they Ignored every RED Flag and continued to be GREEDY knowing that if they did not buy TODAY that tommorow the house might be more expensive. Listening to our Media pump up all that $ that your loosing by not buying now. In my short life this is the second time I recall this HYPE first time in the Carter Years.

Do we not learn? I guess not.

I am not wanting to sound like I tooting my own horn here, but have I not posted over and over again about DEBT? Yet many of you that I talk to are considering GOING DEEPER way Deeper and buying things jus cause one might finance ya. Trucks, Houses, Cars, upside down is upside down and the Greed is still the same a buck might pass ya by but its to good of an opportinity to let go by or is it? If one has the cash this is the time to make some great purchases but to use more CREDIT? In a down economy, Cash is King some great deals are available right now for those who saw this storm approaching.

Our Govt is as wreckless as these home buyers. This bailing out for the short fix is gona cost us our childrens future, WE DO NOT Have the $ to pay for these bailouts N nor should our Govt be interfearing with a FREE Market this is sounding more like Socialism to me everyday.

There is a new Bill being introduced next week, to help out Truckers, who have no credit left (guess how they got there) (no fault of there own right) that will loan them $ to get back on there feet. I oppose this 100%, let the free markets rid itself of over competition THE FITTEST SURVIVE.

Those of you who have sacraficed, saved we are the ones who are having out Tax $ stolen out of our pockets to give to those who have no business being selfemployed. But our Govt is helping to put off the INEVIDABLE. None of these loans or a small % maybee 2-3% will ever be able to pay this back, thus WAISTING MY TAX DOLLARS

 

[highway star]

I laugh when I hear the term "preditory lending". It sounds like the big, bad wolf hiding in the bushes waiting to pounce. I guess you have to call it something. But, there's no ambush. It's just two parties entering into an agreement. Someone can't afford that big house on the hill, someone else helps them make it happen. Risk? Ahh, well, there's just a little bit of risk, but it'll probably be O.K.

So, now we're supposed to feel sorry for these people losing "their" homes. The homes aren't really theirs, but it sounds more dramatic to say it that way. But, my tax dollars are there to prop everyone involved in this up. THAT SUCKS!!!!! I'm disgusted that one penny of my money would go towards this. Let everyone involved take their lumps. The lenders, and especially the so-called "home owners".

 

[davekc]

I right there with you Broom. Way too many have got into trucking being under capitalized. And, many still are entering with that problem. "Cash is King" is exactly right. Many of the ones that were warned years ago didn't listen, and now those days are here.
For the ones that saved and operated efficiently, there are all kinds of opportunities out there. Some in trucking, and some elsewhere. We never had our eggs in one basket and have benefited from that practice.
As for the trucker bailout bill, OOIDA supports it, but I think it is a bad idea. I see little reason to expand the capacity when the freight volumes aren't there to support it. Helping ones that shouldn't have been in the industry in the first place makes no sense. It will do nothing but put pressure on the system until those receiving these loans go under a second time at tax payers expense. OOIDA may need a larger membership, so I see why they support it, but it does nothing for the industry.

 

[mrgoodtude]

LMAO

 

[BillChaffey]

On Home lending, the person\Company making the original Loan takes their cut right off the top. Fees, Taxes, Appraisals are rolled into the loan. Most never take the time to read the information (Truth in Lending law) they are given prior to the loan as required by Federal Law.That being said it's an Election year, if the Government is going to Bail out some more Business's for running their Business in the ground someone is going to make money over seeing the money going out. Don't forget we have the best Congress that money can buy.