"Eisboch" wrote in message
...

"Wayne.B" wrote in message
...
On Thu, 27 Mar 2008 15:33:54 -0600, Vic Smith
wrote:

Whose business it anyway if lenders choose to write bad loans?
Doesn't hurt me.

That's naive. If the government ends up bailing out the lender "to
save the economy" who do you think ends up paying for that? Sooner or
later we all do, either in taxes or with a depreciated dollar.

Sounds like you want it regulated.

Actually not. My real preference would be to let the lenders fail,
except for the one that is paying my pension and holding my retirement
$$$s.

Life is complicated. :-)




I just heard on Chris Matthews's "Hardball" show of a plan being kicked
around that would provide government financing for banks to re-negotiate
some of these sub-prime loans with home owners having trouble with their
mortgage. But, here's the kicker. In this plan, not only would the rates
and terms be re-negotiated, but also the prinicple owed .... meaning it
would be lowered as well as the house "value", decreasing taxes. I am
not sure I completely understand this .... or even heard it correctly, but
it sounds rather bizzare.

Those who have managed to keep their conventional 30 year mortgage
payments by working two jobs to make ends meet receive no benefit or
consideration.

Sounds like those who are financially responsible, live within their means
and borrow what they can afford finish last.
Those that took chances and advantage of loose lending practices with
mortgages they couldn't afford, win.


Eisboch

That is the Democratic way. Steal from the working stiff and give a little
to the slackers and those looking for a free ride. The rest finds it's way
to the lawmakers and their friends.