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I am getting more and more fiscally conservative each day. I think it's ridiculous that people would now get "breaks" on the mortgages they can't afford. I think it's stupid that banks are being blamed for loaning money that people couldn't pay back. I think it's absurd to bail people out over and over again.

Whatever happened to personal responsibility?

That said, for those who are in substandard situations for things that were beyond their control... we have to do something. It is our responsibility as citizens, humans, moral beings that we help out those in need.

I [think I] reluctantly support the Stimulus package.

Comments

( 57 comments — Leave a comment )
ellie_kay
Feb. 18th, 2009 04:02 pm (UTC)
That said, for those who are in substandard situations for things that were beyond their control... we have to do something. It is our responsibility as citizens, humans, moral beings that we help out those in need.

exactly. WE need to do something. the citizens, communities. through charity or private organizations. NOT the federal government. no way. they are the LAST organization that should be handling something like this.
thisgirliknow
Feb. 18th, 2009 04:03 pm (UTC)
didn't say that they should be!

but I still [think I] support the stimulus bill. Parts of it, anyway.

Let's face it, the New Deal was awesome.
ellie_kay
Feb. 18th, 2009 04:40 pm (UTC)
oh, i wasn't implying that you did. just ranting a little bit, lol.

the new deal prolonged the great depression. my mom's reading "New Deal or Raw Deal" right now but i'm 100% stealing it from her as soon as she's done. she's read me tidbits from the book, and there's a shitton of stuff you DON'T learn in school about what they did during that time and just how it drew out the depression even longer. CRAZY.
brittdreams
Feb. 18th, 2009 05:59 pm (UTC)
Where are the charities, private organizations, and communities supposed to get the money from?
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lizblizz
Feb. 18th, 2009 04:47 pm (UTC)
Although I'm not sure that I really support the Stimulus package either, regarding the mortgage business...

I do think there are plenty of cases of innocent people being effected by the financial crisis and not being able to pay their mortgage due to the current conditions. For example, Jeremy's brother and his wife both worked for the same company. Neither have college degrees, and the education they do have comes from a Christian college in Maine that really wouldn't be worth much even if they'd finished their degrees before the college shutdown (uber sketchy story). Anyway, Jeremy's brother Jack does have certification to work as an airplane mechanic, and knows tons about engineering. He got hired with this company as the head engineer because he knows tons even without his degree. After working there for a while, the company hired his wife as their head of accounting because again, she's smart even though she has no degree.

So with both of them getting high salaries, the purchased a new house about two years ago and moved for the jobs. As of about two weeks ago, the company folded and laid both of them off. Right now they're not even sure they're going to get some of the pay that is due to them, and there are certainly no severance packages. Since neither of them have a degree, it is unlikely they'll be able to find comparable jobs. His wife will likely go back to being a bank teller (her previous job), but who knows what Jack will be able to find since the airlines certainly aren't hiring. So now they have this house that their new salaries certainly won't be able to pay for. They're looking at having to foreclose and have no idea what they're going to do.

Just sucks. That's just a real life example for you. Take it for what you will!
thisgirliknow
Feb. 18th, 2009 04:51 pm (UTC)
I know there are real life examples, and I feel for Jeremy's brother and his wife. That sucks. It sucks really terribly, and I think that they absolutely should not be in that situation.

1) Whose job is it to help them at this point?
lizblizz
Feb. 18th, 2009 11:58 pm (UTC)
I have no clue, hence why I'm not sure I support the stimulus package either. I just wanted to put it out there that not everyone was being ridiculous and then expect the government to fix their problems. Considering that Jeremy's whole family is Republican, I doubt he wants any aide whatsoever.

In all honesty, his brother and sister-in-law could certainly have been in a smaller home and saving money instead of living in the home they have. But with what they thought were steady jobs and wanting to give their child what they never had growing up, I can't blame them for purchasing the house they thought they'd be able to support.
brittdreams
Feb. 18th, 2009 06:05 pm (UTC)
Personal responsibility is great. But so is not tricking people into signing for mortgages they don't understand and can in no way afford. If you want to encourage personal responsibility, go back to the New Deal era and get them the hell out of housing. The government's policies encouraging home ownership, rather than renting, have a lot to do with this mess which is why I don't mind so much that they're going to try to fix it.
ellie_kay
Feb. 18th, 2009 07:24 pm (UTC)
You don't see anything wrong with the fact that you just said the government got us into this mess, and in the same sentence, you claim they should be responsible for fixing it???

Sidenote: Don't forget, the "government" in this instance is really the "taxpayers." Your money and my money is basically what's going to save these people's houses anyway. Only difference is that it's being forcibly taken from us with no input or choice on our end.
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teenonfire4lord
Feb. 18th, 2009 11:33 pm (UTC)
You don't entirely agree with something Obama did?

OMG.

Heh, just kidding. "I think it's stupid that banks are being blamed for loaning money that people couldn't pay back." But it is their fault AS WELL. People who couldn't afford loans went to get them anyway. And the banks did their processes, knew these would be high-risk loans, and made them anyway. There is lots of blame to spread around...it's wrong to entirely blame one side or the other. When a person that can't afford a loan gets loaned that money by a bank that knows they can't afford the loan, both sides are at fault.
thisgirliknow
Feb. 19th, 2009 01:29 pm (UTC)
No, I don't. However, I doubt he fully agrees with the things he has to do. Compromise is essential in making the largest number of people the happiest.


ellie_kay
Feb. 20th, 2009 03:14 am (UTC)
DUDE
Just came across this one...SO worth watching!

Chicago Tea Party

"We're thinkin of having a Chicago Tea Party in July...all you Capitalists that want to show up to Lake Michigan, I'm gonna start organizing!...We're gonna be dumping in some derivative securities, what do you think of that??"

I LOVE IT! I'm so there. You're welcome to join us up here if/when that happens ;-) Hehe.
markitup
Feb. 20th, 2009 07:24 pm (UTC)
i think that you also need to consider the program that you got funding for your house from... none of the loans that used SHIP funding were adjustable rate mortages.

you were sheltered from a lot of the predatory lending practices that a lot of people fell prey to... not to mention that no one for saw the down turn in the market or the fact that these seemingly good deal would turn tragically so quickly.

i think that in a lot of cases that personal responcibility has nothing really to do with it. credit is what is is and has a practical use in our world... i mean a mortgage is a bank loaning you money that you dont have and say maybe if you lost your job... you would be SOL.

a lot of bad things are happening to people right now... like the loss of job(s), loss of homes to just imply that people arent being responsible is not looking at the entire complexity of the situation. there are people that used responsible means to manage their accounts that are broke now, had great jobs that work shitty ones, that could afford their mortgages but simply cannot manage then now.

something needs to be done and i dont think that we can leave this in the hand of people to just be responcible. so many people are cooks that isnt isnt feasable for people to just rely on private industry to fix things without some firm federal guidance.

i think many priviledged people fail to understand that many people dont have their parents or other family members, elements of generational wealth, time, savings or any sort of cushion to help them out in a jam. most people are about three pay checks at the most from loosing everything.. and i dont think that that is nessicarily their fault.

i dont know really what needs to be done but something with Power needs to be able to flex its will a bit to get somethings accomplished.
thisgirliknow
Feb. 20th, 2009 07:27 pm (UTC)
I really appreciate your comment, and you make a very valid point. Your reasons are some of the many that I support the stimulus package, even though it is frustrating the "unfairness" of the situation-- but life isn't fair, and that can go both ways.

I want to brainstorm with you on how to fix this.
markitup
Feb. 20th, 2009 08:24 pm (UTC)
idk...

here is an anology of what i think is going on... imagine you are cut really badly and bleeding and instead of bandaging the wound they just keep giving you transfusions in hopes that you will just heal in time, no matter the cost of the blood being injected into you... i think we need to stop the bleeding and then inject the blood back into the economy in areas that would be of some guaranteed return either by way of job creation or market stabilization.

i think one of the very first things to do is to fix the housing situation...

i think that people like you that are making their payments should be able to retain the value of their homes and should reap the benefits of being a home owner. the people loosing their homes are really doing people like you harm and the more that that continues the worse off property value is going to get.

what do you think they should do?

the stimulous package is too huge for me to really understand in a holistic sense not to mention i just dont have the time to deal with all of that... i do think that it was too rushed and that they are prob lacking on oversite for many of the programs.
( 57 comments — Leave a comment )

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thisgirliknow
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