Page 2 of 3 FirstFirst 123 LastLast
Results 10 to 18 of 26

Thread: Should the Feds bail out tornado damaged areas?

  1. #10

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by ban basketball View Post
    Quite a bit more to it than what just some narrow sources will lead us to believe. http://www.factcheck.org/elections-2...ic_crisis.html
    I don't see how that link is relevant, it's from late 2008 and it addresses a broader topic than just Fan and Fred. I'm not blaming the entire economic crisis on Fannie and Freddie. My issue is that Obama is on record as set to cover Fannie and Freddie's losses until at least 2012.

    F&F say that the losses are not going to stop soon; the administration has no immediate plan to reform the companies; and by definition taxpayers are on the hook for whatever current and future losses occur. This is all to prop up the housing market. I'd prefer that the housing market finds a bottom, and then buyers who can actually afford their homes can enter the market.

  2. #11

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by Flop The Nuts View Post
    I don't see how that link is relevant, it's from late 2008 and it addresses a broader topic than just Fan and Fred. I'm not blaming the entire economic crisis on Fannie and Freddie. My issue is that Obama is on record as set to cover Fannie and Freddie's losses until at least 2012.

    F&F say that the losses are not going to stop soon; the administration has no immediate plan to reform the companies; and by definition taxpayers are on the hook for whatever current and future losses occur. This is all to prop up the housing market. I'd prefer that the housing market finds a bottom, and then buyers who can actually afford their homes can enter the market.
    It's extremely relevant, as your point is based on the premise that Fannie and Freddie (which no one had ever heard of until the economic collapse) were solely responsible for the collapse, which it played a marginal role in.

    As for the housing market finding a bottom, it has, and is also showing improvement nationwide. Home prices are rising and home sales are rising.
    UNI Panthers...Because it's just right.

  3. #12

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by arm-spin View Post
    I am baiting WUW... just wanted to remind you that Montreal spanked Pittsburg in the playoffs today, and you get to watch an Eastern Conference final featuring the Habs vs Boston or (probably) Philly.
    Who cares about the least. Sharks rule.

  4. #13

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by ban basketball View Post
    It's extremely relevant, as your point is based on the premise that Fannie and Freddie (which no one had ever heard of until the economic collapse) were solely responsible for the collapse, which it played a marginal role in.

    As for the housing market finding a bottom, it has, and is also showing improvement nationwide. Home prices are rising and home sales are rising.
    I don't have any idea where I said that Fannie and Freddie were solely responsible for the crash, that's not even remotely the point I'm trying to make anyway. Regardless of who or what caused the crash, F&F are now trying to prop up the market and we (or at least those of us who pay taxes) are paying for it.

  5. #14

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by washed up wrestler View Post
    Who cares about the least. Sharks rule.
    Yes they do. Sunday at noon.

  6. #15

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by Flop The Nuts View Post
    I don't have any idea where I said that Fannie and Freddie were solely responsible for the crash, that's not even remotely the point I'm trying to make anyway. Regardless of who or what caused the crash, F&F are now trying to prop up the market and we (or at least those of us who pay taxes) are paying for it.
    Well, if "propping up the market" works in this instance like any other "propping up of the markets" that have been done in the past year, I'm not so sure that that is a bad thing. All major economic indicators and otherwise are showing nothing but steady improvement from one year ago.
    UNI Panthers...Because it's just right.

  7. #16

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by ban basketball View Post
    Well, if "propping up the market" works in this instance like any other "propping up of the markets" that have been done in the past year, I'm not so sure that that is a bad thing. All major economic indicators and otherwise are showing nothing but steady improvement from one year ago.
    Except for the federal deficit, unemployment, and the housing market. The bill is eventually going to come due, as someone is eventually going to have to pay for all of this propping up.

    I can keep paying my mortgage and other bills with a credit card, but eventually I have to pay my credit card bill. Of course, the government has a different alternative, they will just raise taxes on the upper and middle classes.

  8. #17
    Olympic Champ RYou's Avatar
    Join Date
    Mar 2007
    Location
    New Jersey
    Posts
    8,376

    Default Re: Should the Feds bail out tornado damaged areas?

    As far as I can determine, when FEMA provides financial assistance to anyone affected by a disaster - floor, tornado, quake - it is through low interest loans that must be repaid, not through free grant money for replacement costs that is not insured. If you're a flood victim, in a flood zone and have not purchased flood insurance, you're out of luck even with FEMA. You can't even get one of their loans.

    It actually gets pretty messy when a homeowner with a pre-existing mortgage takes on a FEMA loan. I heard of some situations where the bank tried to step in and take the land rather than allow the homeowner to rebuild with too much debt.
    Life's not the breaths you take, the breathing in and out that gets you through the day ain't what it's all about. It's the moments that take your breath away.

  9. #18

    Default Re: Should the Feds bail out tornado damaged areas?

    Quote Originally Posted by washed up wrestler View Post
    Who cares about the least. Sharks rule.
    If Montreal plays San Jose in the finals we'll have to make a sig bet.

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •