Rick Santelli: Why should US taxpayers pay for losers to keep their homes?

[thegodfather]

http://www.youtube.com/watch?v=bEZB4taSEoA


This video pretty much sums up my thoughts on the bailout issue. Quite unprofessional of the US Press Secretary to publicly attack a member of the press in response to this video. I would expect a member of the Executive to take the higher ground, it's quite clear this piece of news struck a nerve.

[countrybhoy]

http://www.youtube.com/watch?v=bEZB4taSEoA


This video pretty much sums up my thoughts on the bailout issue. Quite unprofessional of the US Press Secretary to publicly attack a member of the press in response to this video. I would expect a member of the Executive to take the higher ground, it's quite clear this piece of news struck a nerve.

this guy is a complete prick . dont he understand the banks and the iraq war caused most of this wreck in the first place . yuppie bastard

[soulstealer]

this guy is a complete prick . dont he understand the banks and the iraq war caused most of this wreck in the first place . yuppie bastard

I have a problem with this view, Yes the banks gave loans to people who couldnt pay them back.... and yes the iraq war is a complete waste of money but, people need to own up, personal responsibility and all they deserve to lose their homes if they are over extended, if they have made poor choices, and the war, well the war is just retarded... It as justifiable as slamming your hand in your car door repeatedly because you cant have ice cream... it just makes no sense

[countrybhoy]

that would be fine m8 . but one thing this caused a ressesion and people who were in secure jobs lost them through no fault of thier own . now they face losing thier homes too , but the banks keep on paying massive bonuses to the coe and directors . any other job they would be sacked and in this case jailed

[RA]

So the govt should come and take my money at gunpoint and give it to someone else so they can spend it on their mortgage. Doesnt that sound wrong?

that would be fine m8 . but one thing this caused a ressesion and people who were in secure jobs lost them through no fault of thier own . now they face losing thier homes too , but the banks keep on paying massive bonuses to the coe and directors . any other job they would be sacked and in this case jailed

[Kratos]

this guy is a complete prick . dont he understand the banks and the iraq war caused most of this wreck in the first place . yuppie bastard

What does the cause have to do with a propper fix? Not that I'm saying you have the cause right.

A money fight isn't the answer...for one you keep property values inflated so the next generation can't buy a house. For two, someone has to pay and it shouldn't be me. What's a fair fix? Are the other tax payers who aren't loosing their house at fault, or what about the future generations who are the real ones that will pay for all this spending?

[Nooomoto]

What does the cause have to do with a propper fix? Not that I'm saying you have the cause right.

A money fight isn't the answer...for one you keep property values inflated so the next generation can't buy a house. For two, someone has to pay and it shouldn't be me. What's a fair fix? Are the other tax payers who aren't loosing their house at fault, or what about the future generations who are the real ones that will pay for all this spending?

You're right...it shouldn't be you, or me, or any one. I don't understand why so many people have a problem with making their own way in life. How the fk is it my or anyone elses responsibility to take care of people I don't even know? That's wrong and ridiculous. Americans have become soft and lazy, it's disgusting to me how many people are looking for handouts, and expecting someone else to pay for everything they want or need.

I live in a modest house in an upper-middle-class neighborhood, drive a modest car because I knew I could afford it without a problem. I don't get into financing and monthly payments I might not be able to handle in the future. For some reason now it seems to be cool to punish those who are responsible and give to those who aren't. It's like everything we were taught as children has gone out the door, been flipped on it's head, and has come back as something completely different.

People can't get jobs? Join the fking military, they are always hiring. There are plenty of positions in all branches of the military for lazy ass people who want to shitbag their way through life.

[tyward]

I agree that people should be responsible for themselves. That said, it is a little worrisome that just over 60% of bankrupticies in America are caused by catastrophic medical costs. They work hard all of their life and lose everything because they get sick. I don't know the answer, but it seems just wrong. T

[PT]

you guys are not looking at the larger picture here. personally i say let those people live on the streets but to many forclosures puts the banks at risk. the government will only help a certain few and they have to owe at least 5% more then the market value of there house. why do you think that is? well if you owe $20,000 on a $450,000 house then they will actually make money on the forclosure but if you owe $500,000 on a $450,000 house there going to bomb. there doing it to help the fragile bank system and even though i dont agree i totally understand

[countrybhoy]

sound easy then . but the housing market has crashed . houses are costing what they did ten years ago . i know mine has fallen over £150,000 not that im worried im not going anywhere and our mortage is still a lot less then the value of the my home . but what if i was to be paid off like the ford workers in Dunmurry belfast . 2 hours notice they were given . do these lads deserve to lose thier homes . if we can bail out companies with OUR money why not the normal joe, and before anyone gets all above themselves this can happen to anyone so .



there but for the grace of god i

[RuhlFreak55]

go rick!!!!!!!!!!!!!!!!!!! i actually saw that live.....i was ****in fired up....

we need a revolution.....i wont pay for as rick said "losers" mortgages they don't deserve a house....period....it's that simple...you don't make the money you don't deserve a house.....and guess what....if people that can't afford houses didn't buy them then the prices would come down and maybe then some of them could....but this shit......*shakes head*

[countrybhoy]

go rick!!!!!!!!!!!!!!!!!!! I actually saw that live.....i was ****in fired up....

We need a revolution.....i wont pay for as rick said "losers" mortgages they don't deserve a house....period....it's that simple...you don't make the money you don't deserve a house.....and guess what....if people that can't afford houses didn't buy them then the prices would come down and maybe then some of them could....but this shit......*shakes head*

what if your next m8 . Will it still be ok . Or are you so wealthy the worlds economics dont effect you

[Kratos]

you guys are not looking at the larger picture here. personally i say let those people live on the streets but to many forclosures puts the banks at risk. the government will only help a certain few and they have to owe at least 5% more then the market value of there house. why do you think that is? well if you owe $20,000 on a $450,000 house then they will actually make money on the forclosure but if you owe $500,000 on a $450,000 house there going to bomb. there doing it to help the fragile bank system and even though i dont agree i totally understand

I agree with you to an extent, it's more to help corporations than individuals...but they should be responsible for themselves as well.

My best friend's dad is CEO of a pretty good sized local bank. They never got into sub-prime lending, therefore they have no problems right now. If the risk vs rewards didn't make sense...tell the gvmt to shove their loan to poor people policy and just don't do it...what are the penalties for non-compliance?
They did it for the quick money...sign up debt and re-sell...hello people, it's debt, why are you bidding up the price of a liability? Part of the problem was they figured the property securing the debt world be worth more anyway upon non-repayment...so who gives a crap if they default. Let the banks fail, it will suck, the economy will tank...the healthy banks will survive, the big banks will reorganize...that's how business works.
The real-estate market needs to correct itself once in awhile...if it outpaces inflation forever, who could ever buy a house? Let the market work...
to big to fail = to cumbersome and burocratic to adapt and needs to fail to let smaller leaner banks come in and create competition.
We can't go on borrowing trillions evertime our market has a correction...not sustainable, gotta pay the price at some point. If the growth rate is too hight and the valley's too low, the fed isn't doing their job. Or, they are doing their job and the people in charge are far too greedy.

[Kratos]

go rick!!!!!!!!!!!!!!!!!!! i actually saw that live.....i was ****in fired up....

we need a revolution.....i wont pay for as rick said "losers" mortgages they don't deserve a house....period....it's that simple...you don't make the money you don't deserve a house.....and guess what....if people that can't afford houses didn't buy them then the prices would come down and maybe then some of them could....but this shit......*shakes head*

don't you get financial aid for school and not work?
and your parents have gone bankrupt? seems like you should have sympathy instead of anger. Or I guess for a better word empathy.

[Kratos]

I agree that people should be responsible for themselves. That said, it is a little worrisome that just over 60% of bankrupticies in America are caused by catastrophic medical costs. They work hard all of their life and lose everything because they get sick. I don't know the answer, but it seems just wrong. T

The pushers of gvmt healthcare are stretching reality on that.

http://www.nationalreview.com/commen...0502110735.asp

[RuhlFreak55]

what if your next m8 . Will it still be ok . Or are you so wealthy the worlds economics dont effect you

you make your own way....you want to play victim so be it

[tyward]

Kratos, thank you for the article. It's very interesting and I will research further. I actually don't know how I feel about government run health care and I've studied it from both sides. Money has not been an issue for me for many years, so paying for medical costs really doesn't mean anything to me personally; at the same time I hate to think that our children are not getting the care they need in one of the richest countries on earth...

[RuhlFreak55]

don't you get financial aid for school and not work?
and your parents have gone bankrupt? seems like you should have sympathy instead of anger. Or I guess for a better word empathy.

what's your point.....this has to do with bailing out retards that shouldn't have houses...not financial aid. And yea my parents went bankrupt a long time ago after their first business failed because of a workman's comp claim (fraudulent btw)....

and i have no empathy....never have

[tyward]

I don't believe that Ruhl....never will...

[countrybhoy]

you make your own way....you want to play victim so be it

victim m8 im pretty well off not rich by any means but have no money trouble but i was brought up knowing that what you have one day can be taken away the next and never to look down at anyone . .oh the money your parents owe to the other companies did they pay it back or just shrug thier shoulder and say hell let some one else pay .

[RuhlFreak55]

victim m8 im pretty well off not rich by any means but have no money trouble but i was brought up knowing that what you have one day can be taken away the next and never to look down at anyone . .oh the money your parents owe to the other companies did they pay it back or just shrug thier shoulder and say hell let some one else pay .

lol in the money department we ARE NOT connecting me with them.....they are so irresponsible with money it's not even funny.....i don't know that they've learned their lesson yet still.

[mho]

That dude was awesome. I really don't like the idea of working my ass of so someone else can prosper.

[countrybhoy]

lol in the money department we ARE NOT connecting me with them.....they are so irresponsible with money it's not even funny.....i don't know that they've learned their lesson yet still.

are you a school kid student . because i really think your idea of the real world and how hard it is to make an honest living is way off . no-one like taxes but hell they have to be paid and if i am paying them i would rather they went to help people in trouble than pay for a war some more military crap ( like we dont have enough stuff that can blow up the world) health care a proper social security . and you didnt answer my question .you slag these people off but im betting your parents debts were wiped clean and this gave them a breathing space . oh and the company was more than likely limited and thats why you got to keep your home . but how many other companies did it effect many people struggled because of your parents miss managment , and do give me the claim story a company however small is required to have staff insurance to cover this stuff so that dosent wash m8 .



but hey you just keep looking down at others m8 and just hope you dont end up there some day

[PT]

sound easy then . but the housing market has crashed . houses are costing what they did ten years ago . i know mine has fallen over £150,000 not that im worried im not going anywhere and our mortage is still a lot less then the value of the my home . but what if i was to be paid off like the ford workers in Dunmurry belfast . 2 hours notice they were given . do these lads deserve to lose thier homes . if we can bail out companies with OUR money why not the normal joe, and before anyone gets all above themselves this can happen to anyone so .



there but for the grace of god i

i have also read that the prices are way down but i asure you its not that way in pittsburgh. i am looking to move and every house that i have looked at is still way above the market value and the essesment value

[countrybhoy]

this is the area we were looking to move to everything was set then bang the housing market in ireland took a complete nose dive . now i need to start all over again in selling . like i said im not worried im not going anywhere at the moment but i was hoping to be in my new home for christmas

http://listings.realtracs.com/Report...533&reportid=3

[RuhlFreak55]

are you a school kid student . because i really think your idea of the real world and how hard it is to make an honest living is way off . no-one like taxes but hell they have to be paid and if i am paying them i would rather they went to help people in trouble than pay for a war some more military crap ( like we dont have enough stuff that can blow up the world) health care a proper social security . and you didnt answer my question .you slag these people off but im betting your parents debts were wiped clean and this gave them a breathing space . oh and the company was more than likely limited and thats why you got to keep your home . but how many other companies did it effect many people struggled because of your parents miss managment , and do give me the claim story a company however small is required to have staff insurance to cover this stuff so that dosent wash m8 .



but hey you just keep looking down at others m8 and just hope you dont end up there some day

they had the insurance moron.....it just TRIPLED after the incident and profit margins in the moving business aren't exactly high.....
yea i don't know how to work hard...rofl.....i'm only a bodybuilder and prior to last summer i worked every summer MOVING FURNITURE for 50-70+ hours a weeks....so don't give me that shit. There is no job harder physically than moving furniture....some match it perhaps but nothing is much harder.

and as for the real world.....my world is as i create it....so if you want your world to be hard and tough and almost impossible to succeed then that's the way yours will be.....mine, however, is not like that

[countrybhoy]

they had the insurance moron.....it just TRIPLED after the incident and profit margins in the moving business aren't exactly high.....
yea i don't know how to work hard...rofl.....i'm only a bodybuilder and prior to last summer i worked every summer MOVING FURNITURE for 50-70+ hours a weeks....so don't give me that shit. There is no job harder physically than moving furniture....some match it perhaps but nothing is much harder.

and as for the real world.....my world is as i create it....so if you want your world to be hard and tough and almost impossible to succeed then that's the way yours will be.....mine, however, is not like that

so they didnt know how to run a business then . thats what your saying . and went bankrupt didnt pay all there bills off and still you think you can look down on people struggling . lol and you call me a moron . btw bb is not work m8 it might take effort but its not work .and m8 you dont create your world you like 99% of the people just accept what the worlds goverment throw at us . do you work now m8 . if not you should have no say in where taxes go .

[RuhlFreak55]

and m8 you dont create your world you like 99% of the people just accept what the worlds goverment throw at us .

more ridiculous untrue victimist talk.....this is why some people prosper...and some don't....it's simple mindset

[countrybhoy]

more ridiculous untrue victimist talk.....this is why some people prosper...and some don't....it's simple mindset

thats why i own my own home my business and living a very comfortable life . what you got m8 ... no what dont answer me . your boring me now .

[RuhlFreak55]

thats why i own my own home my business and living a very comfortable life . what you got m8 ... no what dont answer me . your boring me now .

if you own your own house and business and think that you should pay for people that are too lazy and incapable to work the same amount to get the rewards then you don't deserve that business.....and in all honesty.....probably need shot....because that mentality is what's gotten us to this pathetic point.

[RuhlFreak55]

seriously you think your hard earned money should be taken from you and given to people who are too lazy to work???????? or incapable.....incapable is just another word for lazy to me.....

a long time ago my dad got fired from a company he worked for for 20 years.....and you know what he did the next day? he got a new and better job.....it's not rocket science, anyone that wants to work and make their way CAN.