Comments on: Who’s to blame for the state of our economy? http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/ Rebel, still in search of his cause Tue, 24 Aug 2010 18:25:18 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: CreativeCrasher http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/comment-page-1/#comment-227 CreativeCrasher Wed, 10 Dec 2008 21:15:30 +0000 http://therealjamesdean.com/?p=203#comment-227 You forgort to factor TAXES!! Most people did not account for the $2500 to $4800 depending on your area that must be paid at the end of the year. Government is not responsible for bailing out companies. The companies should have filed bankruptcy. This would have been better as the company will then fire the irresponsible executives and hire someone who would restructure the company for the better. example: airlines industry who failed and now restructured and are still in business and have created new jobs. The American citizen is the ultimate blame as they signed the constract and it should have been read. Govenrments only involment (in constitiution) is to enfore the contract and that is it. Some blame is the Executives that allowed someone to get a loan that they counld not pay back in 30 years or 40 years on their current income. Oh yeah, did anyone think to follow the money trail. Why do you think the senate and congressmen wanted the bailout. Most of them would have lost millions in stock. It was personal gain for them. Yes, Obama (Citigroup) and McCain (Chase) both had millions invested in the banks. You forgort to factor TAXES!! Most people did not account for the $2500 to $4800 depending on your area that must be paid at the end of the year. Government is not responsible for bailing out companies. The companies should have filed bankruptcy. This would have been better as the company will then fire the irresponsible executives and hire someone who would restructure the company for the better. example: airlines industry who failed and now restructured and are still in business and have created new jobs.

The American citizen is the ultimate blame as they signed the constract and it should have been read. Govenrments only involment (in constitiution) is to enfore the contract and that is it. Some blame is the Executives that allowed someone to get a loan that they counld not pay back in 30 years or 40 years on their current income.

Oh yeah, did anyone think to follow the money trail. Why do you think the senate and congressmen wanted the bailout. Most of them would have lost millions in stock. It was personal gain for them. Yes, Obama (Citigroup) and McCain (Chase) both had millions invested in the banks.

]]> By: Tinamarie http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/comment-page-1/#comment-209 Tinamarie Thu, 20 Nov 2008 15:22:45 +0000 http://therealjamesdean.com/?p=203#comment-209 I agree and I did not agree with the buy out. How in the hell is my daughter going to be paying for this buy out when she can't even work or live in her own house. If I had a baby at the time this buy out took place that child will be paying and have not even learned the words mama or dada. Crazy! I agree and I did not agree with the buy out. How in the hell is my daughter going to be paying for this buy out when she can’t even work or live in her own house. If I had a baby at the time this buy out took place that child will be paying and have not even learned the words mama or dada. Crazy!

]]> By: Lil ol me http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/comment-page-1/#comment-200 Lil ol me Fri, 14 Nov 2008 17:09:29 +0000 http://therealjamesdean.com/?p=203#comment-200 I am proud of you for waiting and budgeting for your TV. "You've come a long way, Baby!" As for the discussion topic - yes, the Mortgage Companies got greedy and the Government became 'enablers', but where did we as Americans get the glamour highlife idea? I have relatives that have gorgeous multimillion dollar homes, while I have one that is less than $120,000. However, I know their salary range is much higher than mine and they can afford it. It doesn't mean they are better than me, and it doesn't mean that I deserve to have the same as them. They were fortunate enough to have business opportunities that were different than mine. Some went on to have a higher degree of education than mine. Some went into businesses that pay more than mine. I made a choice as to my line of work and I know the financial drawbacks and I do not begrudge them the rewards of their labor. But I do not understand how the person who does not aspire to do more than work at the local burger joint for minimum wage thinks he deserves to drive a Cadillac and have a 6 bedroom home with a media room with a 60 inch HDTV with a pool and Jacuzzi in the back. Do we have too many tabloids with pictures of movie star homes? Does Oprah show too many pictures of the rich and famous? I look at the horrible conditions that two thirds of the world lives in and can’t help but think what an ungrateful, spoiled society we live in. Yes, we live in America so that we can have the ‘Good Life’, but less than 60 years ago that meant putting a roof over your family’s head and clothes on their backs and food on the table by working hard and saving, not overextending credit cards and buying luxury items and homes just for appearances sake. Maybe the slogan today should read “You’ve come a long way, Brat!” I am proud of you for waiting and budgeting for your TV. “You’ve come a long way, Baby!”
As for the discussion topic – yes, the Mortgage Companies got greedy and the Government became ‘enablers’, but where did we as Americans get the glamour highlife idea? I have relatives that have gorgeous multimillion dollar homes, while I have one that is less than $120,000. However, I know their salary range is much higher than mine and they can afford it. It doesn’t mean they are better than me, and it doesn’t mean that I deserve to have the same as them. They were fortunate enough to have business opportunities that were different than mine. Some went on to have a higher degree of education than mine. Some went into businesses that pay more than mine. I made a choice as to my line of work and I know the financial drawbacks and I do not begrudge them the rewards of their labor. But I do not understand how the person who does not aspire to do more than work at the local burger joint for minimum wage thinks he deserves to drive a Cadillac and have a 6 bedroom home with a media room with a 60 inch HDTV with a pool and Jacuzzi in the back. Do we have too many tabloids with pictures of movie star homes? Does Oprah show too many pictures of the rich and famous? I look at the horrible conditions that two thirds of the world lives in and can’t help but think what an ungrateful, spoiled society we live in. Yes, we live in America so that we can have the ‘Good Life’, but less than 60 years ago that meant putting a roof over your family’s head and clothes on their backs and food on the table by working hard and saving, not overextending credit cards and buying luxury items and homes just for appearances sake. Maybe the slogan today should read “You’ve come a long way, Brat!”

]]> By: Pam http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/comment-page-1/#comment-199 Pam Fri, 14 Nov 2008 01:49:13 +0000 http://therealjamesdean.com/?p=203#comment-199 Let us not forget the federal government and their involvement in this mess. They pushed the mortgage companies to give loans to those less fortunate individuals, you know the ones, bad credit, lower income, poor job history (I am not sure of their exact requirements) they pushed them by either extending a penalty if they didn't give a certain number of lower income loans out and rewarded those that provided more loans for those that under normal circumstances would never have gotten a loan. So there is enough blame to go around. I say vote them all out and start over maybe they would get the hint after all we put them in office to help not hurt the country. And as for the mortgage companies and the individuals if it were not on such a large scale I would say let them fall and fail then they might not do it again if given a chance. When I was growing up I would want something bad and beg Mom please pretty please everyone else has one. My Mothers classic response if your friend jumped off a bridge would you want to do that? Net every good deal is a good deal for me there are a lot of other factors to consider than want. For a young guy you are sharp in the area of finance much more so then I was at your age. I too believe you will have a home sooner than later and not just because you live within a budget but because you also have great ability to wait and not impulse buy and to save rather then splurge. Way to go Dean. Let us not forget the federal government and their involvement in this mess. They pushed the mortgage companies to give loans to those less fortunate individuals, you know the ones, bad credit, lower income, poor job history (I am not sure of their exact requirements) they pushed them by either extending a penalty if they didn’t give a certain number of lower income loans out and rewarded those that provided more loans for those that under normal circumstances would never have gotten a loan. So there is enough blame to go around. I say vote them all out and start over maybe they would get the hint after all we put them in office to help not hurt the country. And as for the mortgage companies and the individuals if it were not on such a large scale I would say let them fall and fail then they might not do it again if given a chance. When I was growing up I would want something bad and beg Mom please pretty please everyone else has one. My Mothers classic response if your friend jumped off a bridge would you want to do that? Net every good deal is a good deal for me there are a lot of other factors to consider than want. For a young guy you are sharp in the area of finance much more so then I was at your age. I too believe you will have a home sooner than later and not just because you live within a budget but because you also have great ability to wait and not impulse buy and to save rather then splurge. Way to go Dean.

]]> By: M.O.M. http://therealjamesdean.com/2008/11/12/whos-to-blame-for-the-state-of-our-economy/comment-page-1/#comment-196 M.O.M. Thu, 13 Nov 2008 03:09:33 +0000 http://therealjamesdean.com/?p=203#comment-196 According to an article I read in the Dallas Morning News (I know, don't believe everything you read in the paper), what will happen with most of these mortgages is that they'll be extended, but the people will still have to pay back all the original loan. Can you imagine a 30-year loan being extended to a 40-year loan?! Some of the problems with loans was due to people's stupidity, some due to their ignorance (their laziness to research or inability to pay someone else to do it for them), and some were actually lied to about the type of loan they were getting. I do want to point out one important fact about the guy next door who paid his mortgage vs the one who didn't, not getting a "bail out." When you buy a home, the list price comes directly from a result of neighborhood comps (what other comparable homes sold for). You can ask for the moon, but that's what is the "market price." Now, if several individuals in your neighborhood are foreclosed on, the bank takes those houses back and sells them as quick as they can for way less than their "value." So, all the other mortgage paying neighbors have the "value" of their homes lowered. Not really fair to them. So for the paying people, it is just as important to their property values that the non-paying people stay in their homes to keep their houses worth more (its "worth" is only what someone will pay, and that seldom is over "market." Okay, real estate 101 lesson over. I sincerely hope this is a wake-up call to all that are living beyond their means. I know it's human nature to let others do for you and to take what's offered, but at some point there is accountability. I prefer to hold myself accountable and not leave it up to anyone else That saying, "if you're not part of the solution, you're part of the problem," could also read, "if you have a solution, you won't have a problem." lol I love to read other people's responses & learn new things, & I hope from time to time I might pass some along. Love you, Dean. According to an article I read in the Dallas Morning News (I know, don’t believe everything you read in the paper), what will happen with most of these mortgages is that they’ll be extended, but the people will still have to pay back all the original loan. Can you imagine a 30-year loan being extended to a 40-year loan?! Some of the problems with loans was due to people’s stupidity, some due to their ignorance (their laziness to research or inability to pay someone else to do it for them), and some were actually lied to about the type of loan they were getting. I do want to point out one important fact about the guy next door who paid his mortgage vs the one who didn’t, not getting a “bail out.” When you buy a home, the list price comes directly from a result of neighborhood comps (what other comparable homes sold for). You can ask for the moon, but that’s what is the “market price.” Now, if several individuals in your neighborhood are foreclosed on, the bank takes those houses back and sells them as quick as they can for way less than their “value.” So, all the other mortgage paying neighbors have the “value” of their homes lowered. Not really fair to them. So for the paying people, it is just as important to their property values that the non-paying people stay in their homes to keep their houses worth more (its “worth” is only what someone will pay, and that seldom is over “market.” Okay, real estate 101 lesson over. I sincerely hope this is a wake-up call to all that are living beyond their means. I know it’s human nature to let others do for you and to take what’s offered, but at some point there is accountability. I prefer to hold myself accountable and not leave it up to anyone else That saying, “if you’re not part of the solution, you’re part of the problem,” could also read, “if you have a solution, you won’t have a problem.” lol I love to read other people’s responses & learn new things, & I hope from time to time I might pass some along. Love you, Dean.

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