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NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 19:27:14 in Business

“Don't agree with Clinton being on the list, Bill oversaw the single most prosperous period in U.S. history. Most of the legislation passed was passed by Republicans and would have been passed even if Clinton had vetoed the bills. Clinton also left the federal government in the best financial shape in 40 years. These facts tend to indicate that the trolls who want to include him in the blame for their debacles are simply not supported by the results under his period of control.”
Barney Frank: Fannie, Freddie Are Basically 'Public Policy Instruments Of The Government' (VIDEO)

Barney Frank: Fannie, Freddie Are Basically 'Public Policy Instruments Of The Government' (VIDEO)

Commented Jan 05, 2010 at 19:16:12 in Business

“Given your apparent ignorance on all things financial, you really shouldn't be voting at all. Just to dangerous. You should just stay home and watch more dancing with the stars, maybe you can catch the back episodes with Tom Delay.”
Barney Frank: Fannie, Freddie Are Basically 'Public Policy Instruments Of The Government' (VIDEO)

Barney Frank: Fannie, Freddie Are Basically 'Public Policy Instruments Of The Government' (VIDEO)

Commented Jan 05, 2010 at 19:02:00 in Business

“Mr. Frank is right, as far as he goes. The Congress is prohibited from interfering directly in contracts in the Constitution. This constitutional issue was the principal reason the Lochner era that occurred in the U.S until the 1930s. The Supreme Court consistently held that no law could be made by congress that directly affected a contract- until the 1930s - this included employment law and prevented any state or federal law that prohibited child labor laws, work place safety laws, etc.. Only in the 1930s, with FDR holding a hammer over the SC's head did this policy change and the SC allowed the creation of the NLRB. To now pass a law that specifically changes the terms of existing contracts would likely see a revival of this constitutional argument. He is probably right that only bankruptcy would allow for a law that directly changes a contract.

Barney is just trying to pass laws that fit within the reality of our legal system. If you don't like that then you are fooling yourself, as passing laws that are on their face unconstitutional will not help at all - it will just generate a lot of legal expenses.”

Lorianne replied on Jan 05, 2010 at 19:14:48

“Mr. Frank is the very last person on the list who would make a case for upholding the Constitutution. The Federal government being a party in any way with mortgage institutions already violates the very law you cite.”
Watergate Babies, Now Fully Grown, Dominating Health Care Endgame

Watergate Babies, Now Fully Grown, Dominating Health Care Endgame

Commented Jan 05, 2010 at 15:31:38 in Politics

“Failure under any other name is still failure.”

ChelseaC replied on Jan 05, 2010 at 15:36:54

“"Failure under any other name is still failure."

I like that--great quote--and so very true.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:44:20 in Business

“Bush, Cheney, Rumsfeld, Wolfowitz, Greenspan, Bernanke, Newt, and a host of neo-conservatives who brought you deregulation and unbridled free market economics!”

Rule Of Law replied on Jan 05, 2010 at 19:10:13

“Plus--Clinton, Rubin, Geithner, Summers, Gensler, and yes, Greenspan. And their friends on Wall Street like Sandy Weill who pushed for the deregulation that allowed Citi to merge with Travellers. Lots of blame to go round.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:40:12 in Business

“Well if it works that certainly is the best option.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:38:20 in Business

“Two words - downward spiral.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:37:04 in Business

“Who thinks that more than 10% of the people in America owned their home prior to and during the great depression?”

bubbuh replied on Jan 05, 2010 at 15:15:59

“And I know it hit a low of 43% in 1940.
http://eadiv.state.wy.us/housing/Owner_0000.html

bubbuh replied on Jan 05, 2010 at 14:45:52

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:15:25 in Business

“Me, me, me. If I don't get some then nobody else should. That is the attitude of the truly dumb who are happy to watch the country spiral down into third world status as long as they can grasp their money every morning and count their gold coins at night.”

Razz replied on Jan 05, 2010 at 14:40:19

“Just by saying me, me, me, you are behaving exactly with the same manner. You want others to help you so you can stay in your house, then I want to buy a house. What's the difference?

If you think you are such a humanitarian, the give me some money to go and buy an overpriced house like you did.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:09:35 in Business

“Remember it was the liberals who decapitated the French king. Liberals are no less violent then conservatives, just more thoughtful as they tend to get the violence right for the right reasons.”

middleofthemiddle replied on Jan 05, 2010 at 14:31:27

“Violence is never right and there is never a right reason for it, only mindless individuals who make excuses for said violence.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 14:06:59 in Business

“I am glad you are not my financial adviser. Walking away is among the worst financial decisions you can make, even a controlled foreclosure is less devastating to your wallet. If you can afford to stay in your home, even if it is worth less than the mortgage, then do so. Equity is not the only reason to own a home, after all it is the place you get to go to with no restrictions to eat, take a bath and sleep. It is a roof over your head. The market will eventually recover - you have lost nothing if you can afford to stay and wait it out. You lose everything if you cut and run. Consider the alternatives, because they are dim - sleeping in a tent and losing your job because you abandoned your house is not a particularly good option. Note that no one discusses the real results of abandoning a home - likely you will lose your job (the folks at work will not put up with you when you can't bathe regularly). You will probably not qualify for a rental, at least not one you would be willing to live in. So think before you leap - there is no going back once you make this decision.”

cliffsiderock replied on Jan 05, 2010 at 14:33:22

“You sounded like a banker. That's what the bankers want- squeeze every last penny from you before they absolutely have to kick you out of the house. I have a friend whose husband lost his job but they are still sticking it out with over $5000 of monthly mortage payment when their reduced take home pay is less than $4000. They are depleting their 401k just to stay in the house not willing to accept the fact they went from paper millionare to completely broke in a couple of years. Do the math. For most people these days, even after tax deduction on their mortage interest, they are still bleeding out 2-3 times more money than they would if they just rent an apartment. Housing price is not going back up for a long long time, there is NO REASON for you to bleed out more money than necessary. If you get foreclosed, your credit will be ruined for only about 10 years. If you are in financial trouble now, it will probably take you at least that long to rebuild your saving before you can even think about buying another house. Emotional attachment to dead objects like a house is a common cause of complete financial ruin.”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 13:58:24 in Business

“Among the Democrats other failures (still in Iraq and Afg., no real health care reform, no jobs, etc.) this is one of the worst mistakes and one that could easily have been avoided.

There is one way left to make the American public cheer for the Democrats - pass financial reform - and make it for the benefit of the American people, not for the banks and con men on Wall Street.

Dear Democratic politicians, It is an easy choice - if you don't you are not going to get reelected even if the banks give you all of their money. This issue combined with jobs is a loser if the status quo is still there next year. Their is no excuse you can make for not regulating the banks and providing help to home owners. And these are the people who vote - they vote in every election and they know which side their bread is buttered on. So wake up and do the right thing, for your own benefit.”

Darkswan replied on Jan 05, 2010 at 14:00:51

“so unless you want to go into poverty - you will need to pay mandatory out of pocket premiums for insurance you may not need instead of paying your mortgage.

Sounds like a winner. Who would you rather be in debt to, the IRS or a bank?”
NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

NYT On Housing Crisis: 'Things Didn't Have To Get This Bad' But We Can Still 'Avert The Worst'

Commented Jan 05, 2010 at 13:50:48 in Business

“I'm with you. Let some heads roll down the street.”
U.S. And Britain Close Embassies In Yemen Over Al-Qaida Threats

U.S. And Britain Close Embassies In Yemen Over Al-Qaida Threats

Commented Jan 03, 2010 at 13:24:56 in World

“You are why we are broke and in two meaningless wars. America has problems, it is in serious danger but it is not because of some fantasy in Iraq, Afg., or Yemen. If you don't understand the facts then go home and be quite. We can no longer afford to beat our chests and act like monkeys in the trees - it is time to grow up and focus on America and rebuilding its infrastructure, education system, and economy.”
Afghanistan War Strategy Faces Mounting Challenges In Year Ahead

Afghanistan War Strategy Faces Mounting Challenges In Year Ahead

Commented Jan 03, 2010 at 01:20:36 in World

“The neo-conservatives created the fantasy that there is an international terrorist organization that we need to go and fight all over the world with a huge military. There intent was to make an already paranoid America so frightened they would agree to anything - they would give them power out of fear - it worked for eight years. Problem is the monster they created has backfired. We are consuming our country and its resources chasing a phantom we can never catch, because it doesn't exist. Instead of concentrating on getting off the oil economy and rebuilding our infrastructure, the most important thing we can do to maintain our position in the world, we are wasting our time and our resources. Guess what? All of our competitors couldn't be happier. The worst strategic mistake any national power can make is to overextend itself and run through its resources without creating the resources at home to replenish itself. That is what we are doing. And our friends and our enemies are watching destroy ourselves chasing a phantom, we created.

We only have one chance - end the madness, bring the troops home, rebuild our country. Stop being afraid for no reason!”

HamletsMill replied on Jan 03, 2010 at 02:09:58

“Best post of the night! Fanned.”

HadBetterDays replied on Jan 03, 2010 at 01:41:23

“, do you believe that 9/11 was a US con//spiracy? So Al Q./aida is a manufactured fantasy?”

aflyinyoursoup replied on Jan 03, 2010 at 01:36:37

“"....The worst strategic mistake any national power can make is to overextend itself and run through its resources without creating the resources at home to replenish itself. That is what we are doing...."

That is exactly what happened to the Soviet Union!”
Blackwater Shooting Charges All Dismissed By Judge

Blackwater Shooting Charges All Dismissed By Judge

Commented Dec 31, 2009 at 17:45:39 in Politics

“Justice did not prevail, the law prevailed. Courts do not decide justice, they decide what is proper or improper under the law. The decision says nothing about whether they are murders and criminals. The judge in this case did his job, the prosecutors are bumbling fools.

Likely this case will end up in an international court where they will ignore U.S. law intended to protect military contractors. Because we are unable to prosecute our own criminals when we send them overseas it will now likely fall on the courts of other countries and will make the U.S. look to the world like a terrorist nation with no laws. Don't think anyone should be celebrating this situation - it is a lose lose for America.”
Colorado's Minimum Wage Becomes 1st In US To Drop

Colorado's Minimum Wage Becomes 1st In US To Drop

Commented Dec 31, 2009 at 15:09:59 in Denver

“Oh goody, we are such a generous people. This means that a single person making minimum wages does not qualify for food stamps (now called snaps) - a family of 2 or 3 does. It means that in some states a child of a single mother making minimum wage won't qualify for school lunches or SCHIP - think Texas, one of our more generous states.

But we have to count those pennies because without them our buds at Goldman Sachs wouldn't be able to get those bonuses. We are such a generous people.

What you did for the least of them you did to me!”

conservative2010 replied on Dec 31, 2009 at 15:59:49

“I don't recall Jesus forcing people to be charitable. And actually, this country is the most generous country in the world, and tend to believe thats because we are a Christian nation. Your first statement is a joke, if you're on minimum wage, you would qualify for the mentioned programs, check your facts.”
Obama Palin Shoe Shining Email Could Get Colorado State Worker In Trouble

Obama Palin Shoe Shining Email Could Get Colorado State Worker In Trouble

Commented Dec 31, 2009 at 14:52:01 in Politics

“Isn't this backwards, I mean the right wing has been fighting to keep women down, barefoot and pregnant. Why would they want to promote women by having some woman's shoe's polished?”
Obama Palin Shoe Shining Email Could Get Colorado State Worker In Trouble

Obama Palin Shoe Shining Email Could Get Colorado State Worker In Trouble

Commented Dec 31, 2009 at 14:50:13 in Politics

“Racism is only funny to a racist.”
huffingtonpost entry

2010: Twenty-Ten, Not Two-Thousand-And-Ten

Commented Dec 31, 2009 at 14:48:36 in Technology

“Mostly because it is wrong. It should be twenty hundred and ten, not twenty ten.”

Crix replied on Dec 31, 2009 at 14:53:02

“The English language shortens and abbreviates all kinds of words. Grammar nerds notwithstanding, there was nothing wrong with saying "nineteen ninety-nine."”

"Avatar" And Religion: Jonah Goldberg's Take

Commented Dec 31, 2009 at 13:49:31 in Media

“Never tried them, I have always stuck with the good old reliable french fries. By the way it is likely that french fries were actually originally created in Belgium or Spain. The French don't actually refer to them as french fries, they refer to them as pommes frites or just plain frites.”

inthelandoftheblind replied on Dec 31, 2009 at 14:50:16

“Ah, oui! Love the concept - apples of the earth...pommes de terre.”
DCCC Chair: GOP Opposition To National Security Funds Will Be Issue In 2010

DCCC Chair: GOP Opposition To National Security Funds Will Be Issue In 2010

Commented Dec 31, 2009 at 13:45:07 in Politics

“Oh goody, now the Democrats are going to take up the mantle of the mythical terrorists threat from the neo-conservatives in order to make the Republicans look bad for not supporting funding to stop the fantasy attacks envisioned by Bush, Cheney, and Rumsfeld.

We have reached a level of idiocy that no one could have ever predicted! The delusion has become reality because the political power it bestows is much more important than the need to see reality and conduct business that is needed before we end up as a third world country, destitute and starving.

So lets get together and spend what little treasure we have left on the terrorist fantasy, rather than rebuilding the crumbling infrastructure, our education system, and alternative energy. Because the terrorist fantasy is real and has bright lights and flashing guns, and rebuilding our infrastructure is slow, boring and expensive.”

"Avatar" And Religion: Jonah Goldberg's Take

Commented Dec 31, 2009 at 13:34:57 in Media

“Absolutely, Americans have gotten unbelievably fat and lazy all on their own without dragging the French into the equation.”

inthelandoftheblind replied on Dec 31, 2009 at 13:39:28

“French...uh "Freedom" fries ring a bell?”

"Avatar" And Religion: Jonah Goldberg's Take

Commented Dec 31, 2009 at 13:33:45 in Media

“I think the real point of the movie is that the Navi have not forgotten their link to nature, while we humans have destroyed our link altogether thus putting us at odds to nature. The Navi's link is not based on faith, but on an actual physical link that grows out of their head - we might have had such a link once, but the Celts would argue religion made us cut it off. In any case this is a fantasy movie and the underlying hopes and dreams of the producer is that we somehow find our our link to nature - even if we have to create avatar's of another race that still have their physical link. After that we have to give up our free market greed and desire to own everything even to the point of killing the other guy just to take what he has. Kinda like we are doing in the middle east right now.”

"Avatar" And Religion: Jonah Goldberg's Take

Commented Dec 30, 2009 at 19:25:10 in Media

“Actually I didn't see any religion in this movie. The Navi can actually physically communicate with other species and a central species on their planet through an organ growing out of their head. You know, like we can see people because we have eyes - they have this thing that grows out of their head they can use to physically connect with other species on their planet. That is not religious in nature that is simply nature. The right wing religious nuts need to find another tree to bark up, this one doesn't actually seem to have anything to do with them.”
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