RLLD 4,254 Posted July 5, 2007 Rink As the subprime-mortgage collapse blares in the background, "recovery service agents" have been cleaning up the wreckage of another subprime-lending mess: that of the auto industry, which in its own competitive bid for buyers has been extending longer, costlier loans to people unable to keep up with their payments. Losing the cars and the houses Share this post Link to post Share on other sites
redtodd 7 Posted July 5, 2007 So you are glad people are losing their cars? Share this post Link to post Share on other sites
Recliner Pilot 61 Posted July 5, 2007 So you are glad people are losing their cars? Typical Demwit Lib. Loves to see others suffer. Or mebbe he is just jealous cuz they got loans he couldn't qualify for. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 So you are glad people are losing their cars? Yes. These are the people that fed the system of inflated house values. These people kept it going, they were moronic enough to accept that a $400k house was somehow worth over $500k. And in doing so made sure that good people who knew better than to take on toxic loans were shut out of the market. Teachers, police officers, fireman all left my area, because greedy mother fockers happily accepted the line of BS from greedy real estate agents who's only moral compass was how can I fock some sap out of more money I dont deserve. This is focking payback... And I am going to enjoy every flipping moment of it.... Or mebbe he is just jealous cuz they got loans he couldn't qualify for. No way in hell was I going to work with an interest only loan or a negative amortization loan. If you think those are appropriate vehicles for purchasing a home you are as big of an idiot as those getting focked, hopefully you are on the street with them. Share this post Link to post Share on other sites
redtodd 7 Posted July 5, 2007 Yes. These are the people that fed the system of inflated house values. These people kept it going, they were moronic enough to accept that a $400k house was somehow worth over $500k. And in doing so made sure that good people who knew better than to take on toxic loans were shut out of the market. Teachers, police officers, fireman all left my area, because greedy mother fockers happily accepted the line of BS from greedy real estate agents who's only moral compass was how can I fock some sap out of more money I dont deserve. This is focking payback... And I am going to enjoy every flipping moment of it.... So no teachers, police officaers, fireman were guilty of this behavior? Share this post Link to post Share on other sites
Recliner Pilot 61 Posted July 5, 2007 No way in hell was I going to work with an interest only loan or a negative amortization loan. If you think those are appropriate vehicles for purchasing a home you are as big of an idiot as those getting focked, hopefully you are on the street with them. Sorry to burst your bubble but I'm not on the street. I am just LMAO at you getting a hard-on when someone else suffers. You got a problem Skippy. Share this post Link to post Share on other sites
donhaas 18 Posted July 5, 2007 I am just LMAO at you getting a hard-on when someone else suffers. Because you would never do that Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 So no teachers, police officaers, fireman were guilty of this behavior? No, these people were responsible Sorry to burst your bubble but I'm not on the street. I am just LMAO at you getting a hard-on when someone else suffers. You got a problem Skippy. I might take to heart from someone else, but from you its like Rosie O'Donnell calling Micheal Moore fat.... Share this post Link to post Share on other sites
Recliner Pilot 61 Posted July 5, 2007 I might take to heart from someone else, but from you its like Rosie O'Donnell calling Micheal Moore fat.... That may make sense if you can show me where I take pleasure in the suffering of common, everyday Americans. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 That may make sense if you can show me where I take pleasure in the suffering of common, everyday Americans. How does that relate to you telling me I have a problem.....rosie..... Share this post Link to post Share on other sites
Recliner Pilot 61 Posted July 5, 2007 How does that relate to you telling me I have a problem.....rosie..... Lessee...........you when people suffer, I point out that fact............you come back with some Rosie/Micheal Moore is fat BS as if you are making sense. I ask you to show me where I take joy in the suffering of Americans like you do. You can't. Simple enough for ya Chowderhead? I doubt it, but it's the best I can do. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 Lessee...........you when people suffer, I point out that fact............you come back with some Rosie/Micheal Moore is fat BS as if you are making sense. I ask you to show me where I take joy in the suffering of Americans like you do. You can't. Simple enough for ya Chowderhead? I doubt it, but it's the best I can do. AMong you many deficienies we can now add lack of reading comprehension Share this post Link to post Share on other sites
redtodd 7 Posted July 5, 2007 No, these people were responsible Those are the people who can't make the payments on their car loans? Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 Those are the people who helped to create this mess? There you go..... Share this post Link to post Share on other sites
I have no idea what i'm doing 0 Posted July 5, 2007 Great Idea Banks, people don't make enough money to pay for their car/house, so take away there transportation that gets them back and forth to their job, then take away there house making them officially "homeless" so they will have to go to job interviews smelling like underside of the brooklyn bridge...BRILLIANT!!!!! Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 Great Idea Banks, people don't make enough money to pay for their car/house, so take away there transportation that gets them back and forth to their job, then take away there house making them officially "homeless" so they will have to go to job interviews smelling like underside of the brooklyn bridge...BRILLIANT!!!!! You make a good point..... It seems that people are getting a very tough lesson in the difference between debt and wealth Share this post Link to post Share on other sites
redtodd 7 Posted July 5, 2007 There you go..... Firefighters and teachers are creating this mess? You are not making sense. Share this post Link to post Share on other sites
Let Da Big Dog Eat 40 Posted July 5, 2007 I don't care about any of these focktards who lose their homes and cars. In the long run, them what deserves to get the loans will get them. It gives those of us who have managed their lives appropriately an advantage that we have earned. Just waiting for the RE bottom to hit and I will be out of the stock market and make a killing in RE. And, my credit rating and resources will allow me to finance almost anything. Because I have worked for it and earned it. Those who have not done the same, deserve exactly what they get. Fock them all. Share this post Link to post Share on other sites
BMoney 0 Posted July 5, 2007 what about those who live IN their cars? they are losing their cars and homes all in 1 fell swoop.....tough Share this post Link to post Share on other sites
hoytdwow 202 Posted July 5, 2007 Repo Man's always intense Share this post Link to post Share on other sites
edjr 6,608 Posted July 5, 2007 I don't blame people for this, I really don't. I blame the banks and the people that loan people the money. Think about it for a second. Think how credit works in this country. If you have bad credit, they will still give you a loan but charge you as much as 2 to 3 times the interest rate. How does this make any focking sense? People with bad credit have bad credit why? because they don't pay their bills on time. I have a BRILLIANT IDEA! let's still give them the loan but charge them MORE? Who are the brilliant azzholes that came up with this plan? Share this post Link to post Share on other sites
hoytdwow 202 Posted July 5, 2007 Who are the brilliant azzholes that came up with this plan? People like RLLD Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 Firefighters and teachers are creating this mess? You are not making sense. Only because you have trouble with reading comprehension, but your strawmen bit is solid... Morons like me who can follow nor foster independant thought Share this post Link to post Share on other sites
crackattack 520 Posted July 5, 2007 Another "crack" Share this post Link to post Share on other sites
hoytdwow 202 Posted July 5, 2007 you spelled independent wrong Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 you spelled independent wrong You are correct, perhaps even for the first time this week.... Further, your weak implementation of argumentum ad hominem is below your normally low standards Share this post Link to post Share on other sites
redtodd 7 Posted July 5, 2007 Only because you have trouble with reading comprehension, but your strawmen bit is solid... Hard to take you serious when you manipulate my quotes. Clever tactic. I don't blame people for this, I really don't. I blame the banks and the people that loan people the money. Think about it for a second. Think how credit works in this country. If you have bad credit, they will still give you a loan but charge you as much as 2 to 3 times the interest rate. How does this make any focking sense? People with bad credit have bad credit why? because they don't pay their bills on time. I have a BRILLIANT IDEA! let's still give them the loan but charge them MORE? Who are the brilliant azzholes that came up with this plan? Another idea is: Dont Fock Up Your Credit. Works for me. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 Hard to take you serious when you manipulate my quotes. Clever tactic. Valid. Sorry about that....should have gone in a different direction on that one Share this post Link to post Share on other sites
killersquids 3 Posted July 5, 2007 I don't blame people for this, I really don't. I blame the banks and the people that loan people the money. Think about it for a second. Think how credit works in this country. If you have bad credit, they will still give you a loan but charge you as much as 2 to 3 times the interest rate. How does this make any focking sense? People with bad credit have bad credit why? because they don't pay their bills on time. I have a BRILLIANT IDEA! let's still give them the loan but charge them MORE? Who are the brilliant azzholes that came up with this plan? How does this not make sense? Put yourself in the bank's shoes. There is a reason that someone has bad credit...usually b/c they haven't paid their bills on time and/or defaulted on other payments. Why would a bank give a loan to this person? There is way too much risk involved. How do you offset this risk? Charge a higher interest rate. On a side note, it's not that hard to boost your credit. Fresh out of college, my credit was in the sh!tter, mainly b/c I didn't pay my bills on time while in school. I got rejected for 4 or 5 credit cards....all with crazy high interest rates (I didn't care what the rate was b/c I knew I would pay it off every month). Finally I got a card and less than a year later, my credit score was in the average range. Share this post Link to post Share on other sites
cmh6476 1,031 Posted July 5, 2007 what do you think of FHA loans? Share this post Link to post Share on other sites
edjr 6,608 Posted July 5, 2007 How does this not make sense? Put yourself in the bank's shoes. There is a reason that someone has bad credit...usually b/c they haven't paid their bills on time and/or defaulted on other payments. Why would a bank give a loan to this person? There is way too much risk involved. How do you offset this risk? Charge a higher interest rate. On a side note, it's not that hard to boost your credit. Fresh out of college, my credit was in the sh!tter, mainly b/c I didn't pay my bills on time while in school. I got rejected for 4 or 5 credit cards....all with crazy high interest rates (I didn't care what the rate was b/c I knew I would pay it off every month). Finally I got a card and less than a year later, my credit score was in the average range. Ok I'll put myself in the banks shoes. Hmmm, I'd like to get paid. Let's not give money to a person with bad credit. Hmmm, makes perfect sense. hth Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 How does this not make sense? Put yourself in the bank's shoes. There is a reason that someone has bad credit...usually b/c they haven't paid their bills on time and/or defaulted on other payments. Why would a bank give a loan to this person? There is way too much risk involved. How do you offset this risk? Charge a higher interest rate. On a side note, it's not that hard to boost your credit. Fresh out of college, my credit was in the sh!tter, mainly b/c I didn't pay my bills on time while in school. I got rejected for 4 or 5 credit cards....all with crazy high interest rates (I didn't care what the rate was b/c I knew I would pay it off every month). Finally I got a card and less than a year later, my credit score was in the average range. But, it is what actually occurred. You and I know this, but the lenders lost sight of this in the frenzy. Keep in mind, they established these loans and immediately unloaded them. They knew all was not well.... Share this post Link to post Share on other sites
killersquids 3 Posted July 5, 2007 Ok I'll put myself in the banks shoes. Hmmm, I'd like to get paid. Let's not give money to a person with bad credit. Hmmm, makes perfect sense. hth That is one way to go and I have no problem with that. However, usually they will find someone to give them a loan and when they do, they will have to suffer with a higher interest rate. Share this post Link to post Share on other sites
edjr 6,608 Posted July 5, 2007 That is one way to go and I have no problem with that. However, usually they will find someone to give them a loan and when they do, they will have to suffer with a higher interest rate. and when they default on their loan, said bank should STFU and stop crying they didn't get paid? Share this post Link to post Share on other sites
killersquids 3 Posted July 5, 2007 But, it is what actually occurred. You and I know this, but the lenders lost sight of this in the frenzy. Keep in mind, they established these loans and immediately unloaded them. They knew all was not well.... Without a doubt. You still have to put most of the blame on the people who signed those crazy loans. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 That is one way to go and I have no problem with that. However, usually they will find someone to give them a loan and when they do, they will have to suffer with a higher interest rate. At one time. Right now the days of easy and cheap credit for those high-reisk customers is rapidly disappearing. Now that Congress is weighing in, I think the writing is on the wall. Share this post Link to post Share on other sites
killersquids 3 Posted July 5, 2007 and when they default on their loan, said bank should STFU and stop crying they didn't get paid? agreed.....it's a business, you must weigh the risks and rewards. Share this post Link to post Share on other sites
RLLD 4,254 Posted July 5, 2007 agreed.....it's a business, you must weigh the risks and rewards. Since the banks dumped most of these into CDO's which were then sold to investement funds, it appears as though the banks are mostly off the hook, but the individual investor will pick up the dime. Share this post Link to post Share on other sites
Bert 1,128 Posted July 5, 2007 I don't blame people for this, I really don't. I blame the banks and the people that loan people the money. I disagree. Blaming the banks is like blaming the cigarette companies because idiots want to smoke cigarettes. I wish people would start taking responsibility for their own actions. Share this post Link to post Share on other sites
