Comments on: A Backward Presidency

By: DLS

DLS — Mon, 24 Dec 2007 17:33:58 +0000

Seriously, the blame belongs with unethical lenders and consumers who wanted more house than they could afford.

There is no sympathy among the decent and normal for people who were so greedy and stupid they took on far more than they could afford, often in the bubble-brained expectation they would become wealthy almost overnight.

There is no “crisis”; plenty of us have nothing to do with these problems and we shouldn’t ever be pestered, much less asked to pay to solve these problems. Those demanding we do are parasites.

As for the rest of the thread — the homeless and their encampments have existed in LA for years, including when I lived there several years ago. Obviously this has nothing to do with Bush. [sigh]

By: DLS

DLS — Mon, 24 Dec 2007 17:23:49 +0000

Even I can’t blame Bush for this one.

The real morons, who make Bush look smart, will, though.

By: kritt

kritt — Sun, 23 Dec 2007 18:08:54 +0000

Entirely agree with Davebo. We bought with a fixed rate of 6 1/8%. Only a moron wouldn’t realize that their payments were going to rise in a way that would soon become unaffordable. And greed blinded lenders who should have realized that the borrowers were going to eventually default when they did. I don’t really agree with a bailout- unless the entire economy would tank without one.

By: Davebo

Davebo — Sun, 23 Dec 2007 17:45:41 +0000

5.23% fixed baby!

Seriously, the blame belongs with unethical lenders and consumers who wanted more house than they could afford.

And the sad part is that rates were so low there was no reason to be in variable rate mortgages.

But let’s not forget Alan Greenspan’s idiotic advice to homeowners to take advantage of variable rate mortgages.

Fortunately I had reviewed Greenspan’s comments over the years and knew you’d have to be an idiot to take the man seriously.

By: kritt

kritt — Sun, 23 Dec 2007 14:54:14 +0000

I’m no Bush fan, but this seems a bit overgeneralized. The banks who chose to offer risky loans to the sub-prime market AND the consumers who knew they couldn’t really afford them are to blame for most of this mess. Even I can’t blame Bush for this one. I DO think the warnings from many in the financial community should have been heeded when this could have all been avoided.

By: Bones_708

Bones_708 — Sun, 23 Dec 2007 09:35:24 +0000

While no current residents claim to be victims of foreclosure

Yep all because of the morgage crisis.