Bush's bailing out of the irresponsible Options

[Hartmann]

http://seattletimes.nwsource.com/html/busi...mortgage06.html

Of course this still has to go through Congress where it will get a bunch of crap amended to it and blah, blah, blah.

It is not the government's job to intervene on the free market. If people are irresponsible then there is no reason to change the market to cater to them, hurting others who were prepared.

[impala454]

Haha "attack". The reason I pointed it out was clear. You seemed to think your experience was the norm when it obviously is not. First time home buyers have to buy a house eventually. Sometimes the best way to learn is by doing. It doesn't make it any easier when there are lenders out there handing out loans that are fiscally irresponsible just to reel people in.

Sorry if you took it so personally. I just take a dim view of those who talk about how much they're helping someone out when they're raking in huge profits at the same time. Same goes for anyone that takes tax writeoffs for donations.

[Hartmann]

Haha "attack". The reason I pointed it out was clear. You seemed to think your experience was the norm when it obviously is not. First time home buyers have to buy a house eventually. Sometimes the best way to learn is by doing. It doesn't make it any easier when there are lenders out there handing out loans that are fiscally irresponsible just to reel people in.

Sorry if you took it so personally. I just take a dim view of those who talk about how much they're helping someone out when they're raking in huge profits at the same time. Same goes for anyone that takes tax writeoffs for donations.

The fact that you say my dad and I are getting rich is what "I took personally", well, considering that's completely false. I am not extremely wealthy or even wealthy.

Of course the best way to learn is to do it, but does that mean they deserve to get a free pass when they screw up?

You don't like people who give donations and gets the tax writeoff? Will you then be ok with the lenders getting tax writeoffs when this freeze affects their bottom lines and the government doesn't want them to go under?

If I give a thousand dollars to a charity, I don't want that being counted as income I could have spent, because I could have spent it if I wanted to.

[impala454]

The fact that you say my dad and I are getting rich is what "I took personally", well, considering that's completely false. I am not extremely wealthy or even wealthy.

The terms rich/wealthy are all about point of view bud. To quote Chris Rock, "People think Shaq is wealthy, Shaq aint wealthy, Shaq's rich. The guy that signs Shaq's paycheck is wealthy."

Of course the best way to learn is to do it, but does that mean they deserve to get a free pass when they screw up?

How in the hell is this plan a "free pass" for the consumer? Preventing hardship due to ballooning interest rates is suddenly a "free pass"? Let me go cry a river for the lenders who will only make 7% interest off of these people's home loans.

You don't like people who give donations and gets the tax writeoff? Will you then be ok with the lenders getting tax writeoffs when this freeze affects their bottom lines and the government doesn't want them to go under?

WTF do these two things have to do with each other? I didn't say I have a problem with tax writeoffs in general (i.e. tax writeoff for a business purchasing a car). What I have a problem with is those who go donate $5,000 to some charity and then want something in return (a tax writeoff). All they're doing is taking money from the government to make their donation. If you truly want to make a donation you don't ask for shit in return *cough* rawls college of business *cough*.

If I give a thousand dollars to a charity, I don't want that being counted as income I could have spent, because I could have spent it if I wanted to.

This is exactly what I'm talkin about.