Carter thought lowering mortgage standards would get him more votes and a better economy. We are paying for that now, since all the Republicrats since then have wallowed in the 'more votes' until W got stuck with the check. Is history doomed to repeat itself?

Obama administration pushes banks to make home loans to people with weaker credit - The Washington Post (http://www.washingtonpost.com/business/economy/obama-administration-pushes-banks-to-make-home-loans-to-people-with-weaker-credit/2013/04/02/a8b4370c-9aef-11e2-a941-a19bce7af755_story.html)

I guess some people never learn

And when the next bubbles bursts ;they will blame it on private sector again.

There is an easy way out of all of this. If the government wants to promote the housing market let them underwrite the loans

There is an easy way out of all of this. If the government wants to promote the housing market let them underwrite the loans

Are you guys going to be the ones who loan us enough yuan when this next crop defaults?

No we don't do this sort of stupid stimulus, if you want yuan then ask China to bail you out after all their industries will make the furnishings, appliances, etc the ANZUS Treaty doesn't cover financials

Doomed to repeat the mistakes of the past... and lie about again

No we don't do this sort of stupid stimulus, if you want yuan then ask China to bail you out afterall their industries will make the furnishings, appliances, etc the ANZUS Treaty doesn't cover financials

And we can take a lesson from the Chinese about building Potemkin cities.
Photos Of Kangbashi, A Ghost City In China - Business Insider (http://www.businessinsider.com/photos-of-kangbashi-a-ghost-city-in-china-2012-7?op=1)

I thought you had already learned a lesson from your own potemkin cities didn't you have 40,000 unsold houses? Have you gobbled them up already?

Hello wingers:
Doomed to repeat the mistakes of the past... and lie about again
and when the next bubbles bursts ;they will blame it on private sector againSpoken like true conservatives, out of the RIGHT side of your mouths...

However, out of the LEFT side of your mouths, you line up for your government handout (mortgage deduction), like any welfare queen feeding at the public trough...

Excon

I'd be more than happy to give up the mortgage deduction for a lower rate flat tax.

But Tom you don't get your Druthers, if you were a true believer you wouldn't take these socialist handouts

Hello again, tom:


I'd be more than happy to give up the mortgage deduction for a lower rate flat tax.You could give it up NOW.. Why do you want to be on the dole? Come on. I'll help. You know that box on the 1040 where it asks how much interest you paid?? Leave it blank.. You'll feel a LOT better.

While I'm at it, I'm going to preempt Steve.. He's going to tell me that it isn't a handout at all.. It's just him keeping more of his own money... I got it... But, why don't I get to keep more of MY money? What do you call that? A penalty for NOT owning a home?? That sucks..

Excon

While I'm at it, I'm gonna preempt Steve.. He's gonna tell me that it isn't a handout at all.. It's just him keeping more of his own money... I got it... But, why don't I get to keep more of MY money? What do you call that? A penalty for NOT owning a home??? That sucks..

excon

Well exx I expect that is why BO wants the banks to make it possible that you can get a home loan, so you can get the deduction and keep more of your money while making the banks richer

No, Steve is going to remind you again that my house is paid for. But no it isn't a handout, it's a reduction in the amount I PAY.

Sorry guys ;your argument don't fly.. the market was skewed as a result of the deductions and tax breaks when I paid the market price for my home. Had there been no deduction then the price would not have been so high. I'm not on the dole ;it was in effect a price support to the seller ,because the seller would not have gotten the sale price if the mortgage deduction was not in effect.
You guys are full of it... Here in NY I already pay the HIGHEST property taxes in the nation ;as well as some of the highest income taxes . So don't give me that cr@p that I am on the dole .

That's liberal thinking for you, people who pay their taxes are "on the dole" while those who actually are "on the dole" have a right to our money.

Hello again, Steve:

I'm still waiting for you to tell me what you call my NOT being able to keep more of my money..

excon

Hello again, Steve:

I'm still waiting for you to tell me what you call my NOT being able to keep more of my money..

excon

Hire an accountant. You probably agree with Obama that illegal aliens should get food stamps and welfare don't you?

Hire an accountant. You probably agree with Obama that illegal aliens should get food stamps and welfare don't you?

As an accountant I can tell you taxation is theft

Now here is someone on the dole .
Terry Keenan: Warren Buffett dodges taxes in Goldman Sachs deal - NYPOST.com (http://www.nypost.com/p/news/business/tax_lover_buffett_dodges_taxes_in_uzmYhR2L4TyQpktX 93eNOO)

Your taxes are not punitive enough to put him on the dole

Hello again, Steve/tom:

So, it's OK that YOU have YOURS. You won't even address why I don't have MINE. Sounds like greedy right wingers...

Look.. As long as YOU get tax money that I DON'T, it's a HANDOUT.. You can CALL it chopped liver if you want... But, it's WELFARE for the rich. The reason you don't explain it, is because you CAN'T explain it, so let's move on and talk about something else...

Nahhh.. I want to talk about you welfare bums..

excon

Hello again, Steve/tom:

So, it's ok that YOU have YOURS. You won't even address why I don't have MINE. Sounds like greedy right wingers...

Look.. As long as YOU get tax money that I DON'T, it's a HANDOUT.. You can CALL it chopped liver if you want... But, it's WELFARE for the rich. The reason you don't explain it, is because you CAN'T explain it, so let's move on and talk about something else...

Nahhh.. I wanna talk about you welfare bums..

excon

So as a businessman how many tax credits/incentives/deductions do you get?

P.S. I don't GET tax money from the government, I pay EVERY dollar due.

Hello again, Steve:


So as a businessman how many tax credits/incentives/deductions do you get?The same whether I rent my building or buy it.

I understand WHY you don't want to talk about it. It's not fair. All you'd EVER have to do, is acknowledge that. Instead, all you've done is JUSTIFY your handout. I'll bet people on food stamps do that.

Excon

But you won't address all those tax breaks you get by being in business... tax breaks that I don't get . By your definition you too are on the dole ;even though you bust your hump to run your business.
I'll say it again. I pay MORE taxes(property ) because I own a home ;and if there was no tax deduction then I would not have paid so much for my home. So that is a wash .

Hello again, Steve:

The same whether I rent my building or buy it.

I understand WHY you don't wanna talk about it. It's not fair. All you'd EVER have to do, is acknowledge that. Instead, all you've done is JUSTIFY your handout. I'll bet people on food stamps do that.

excon

Tom got the question, I think you did, too.

P.S. That was a good point, since renters don't pay property taxes like you and I do... and mine are MUCH higher than my mortgage deduction ever was.

Here in NY ; by consensus ,the least free state in the union ; we pay the highest combined property ,income,state ,local school ,sales taxes in the nation . That's why the productive are leaving in droves ;and why I will not be able to retire here despite my love for the place.

By the way, subprime auto loans are SURGING (http://finance.yahoo.com/news/special-report-fed-fueled-explosion-subprime-auto-loans-110501752.html)! What could go wrong?

$500 down and tote the note have been around for decades, and personal problems screw up any ones cash flow. Nothing new here. It's a simple fact though that banks were making money hand over fist on paper by the oldest tricks in the books that would and should have been illegal. The best excuse they gave was if they didn't do it, someone else would, since the bank down the street was licking his chops for new customers to sign.

Do the research on the places that didn't get affected by the mortgage meltdown, and see how there ability to say NO, because of bad/no credit saved them a bundle.

The scheme here didn't work, they blame the government and you swallow the story of the swindlers. Banks didn't have to foreclose on buyers, but they took the most money the fastest way possible and want to pay fines and restitution with no admittance of any wrong doing, and nobody goes to jail.

Mission accomplished by the banks at the expense of the consumer. Look deeper at the Obama proposal, and consumers have better options than balloon payments and variable interest schemes that tanked the last bubble and enriched the banks. Lets be clear the government didn't tank the market by pushing for more loans, the banks did with some shading lending practices, aided and abetted by ratings companies, and insurance companies.

But I can understand not trusting bankers and financiers that screwed us before.