Comments on: Clinton’s Subpar Subprime Plan http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/ The FreedomWorks blog dedicated to lower taxes and more freedom. Mon, 13 Oct 2008 07:50:54 +0000 http://wordpress.org/?v=2.6.1 By: fuerteventura golfing holiday http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-79194 fuerteventura golfing holiday Fri, 28 Mar 2008 02:40:00 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-79194 <strong>fuerteventura golfing holiday...</strong> Home improvement loans are home loans used to finance improvements on your house or property. This can include repairs, a new kitchen, a new bathroom, an extension or general property improvements. Before considering the loan options you should have a... fuerteventura golfing holiday…

Home improvement loans are home loans used to finance improvements on your house or property. This can include repairs, a new kitchen, a new bathroom, an extension or general property improvements. Before considering the loan options you should have a…

]]> By: Mister Guy http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75723 Mister Guy Fri, 08 Feb 2008 02:23:07 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75723 The above is spam... The above is spam…

]]> By: Alicia Silverstone http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75713 Alicia Silverstone Fri, 08 Feb 2008 00:56:27 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75713 Obama’s Dirty Trick on Internet Dear Sisters and Brothers for Hillary, It is important, I think, to counter what is being said about Hillary and Chelsea on one very nasty pro-Obama website I came across, www.matrix-evolutions.com. They are connecting up Bill’s thing with Monica Lewinsky with a hint of parental sexual abuse on Chelsea, if you can believe it! Quickly, I think, shouldn’t something should be done before it blows up in Hillary’s face as an “Internet rumor?” Onward to victory, Alicia Silverstone Obama’s Dirty Trick on Internet

Dear Sisters and Brothers for Hillary,

It is important, I think, to counter what is being said about Hillary and Chelsea on one very nasty pro-Obama website I came across, http://www.matrix-evolutions.com. They are connecting up Bill’s thing with Monica Lewinsky with a hint of parental sexual abuse on Chelsea, if you can believe it! Quickly, I think, shouldn’t something should be done before it blows up in Hillary’s face as an “Internet rumor?”

Onward to victory,
Alicia Silverstone

]]> By: Mister Guy http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75589 Mister Guy Wed, 06 Feb 2008 00:03:25 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75589 Right...we can't let the banks not get their "lunch" by jacking up the interest rates on people's homes. Both the Federal Reserve and the federal govt. pushed these ARMs hard ealier this decade...so, I think, they have to shoulder some of the blame and the burden to help fix the situation. We can't just let a huge number of homeowners and banks go under and say, "Oh well, better luck next time..." I got your joke Leonardo BTW. Right…we can’t let the banks not get their “lunch” by jacking up the interest rates on people’s homes. Both the Federal Reserve and the federal govt. pushed these ARMs hard ealier this decade…so, I think, they have to shoulder some of the blame and the burden to help fix the situation. We can’t just let a huge number of homeowners and banks go under and say, “Oh well, better luck next time…” I got your joke Leonardo BTW.

]]> By: Leonardo http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75568 Leonardo Tue, 05 Feb 2008 18:50:57 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75568 Well the only important thing to read about my opening paragraph was the surprise for the concern for certain ailing borrowers, in particular coming from a cold blooded free market advocate (everything was supposed to be a joke, I guess it did not work). I worded it that way because of the following line: I think there’s room to disagree with the piece, however, in that it allows that some sort of subprime “fix” might be necessary for a very small number of ailing subprime borrowers. I failed to interpret the quotes around "fix" in a better way. However, it is good to see we do agree on the important points. If only we could agree on more (like flat taxes and non-earned income). Well the only important thing to read about my opening paragraph was the surprise for the concern for certain ailing borrowers, in particular coming from a cold blooded free market advocate (everything was supposed to be a joke, I guess it did not work). I worded it that way because of the following line:

I think there’s room to disagree with the piece, however, in that it allows that some sort of subprime “fix” might be necessary for a very small number of ailing subprime borrowers.

I failed to interpret the quotes around “fix” in a better way. However, it is good to see we do agree on the important points. If only we could agree on more (like flat taxes and non-earned income).

]]> By: Peter Suderman http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75558 Peter Suderman Tue, 05 Feb 2008 17:49:40 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75558 Leonardo, if you can find where I said I supported a fix, I'd like to see it. What I said was I'd agree to an extent with their statement that there ought to be “concern” for borrowers “led into loans they did not understand.” The part I agree with is that there should be some concern, and that sympathy is appropriate. But I don't think any legislative fix is necessary. I agree entirely that freedom of contract is what's at stake here, and legislation breaking private, freely negotiated contracts is always potentially dangerous. Leonardo, if you can find where I said I supported a fix, I’d like to see it. What I said was I’d agree to an extent with their statement that there ought to be “concern” for borrowers “led into loans they did not understand.” The part I agree with is that there should be some concern, and that sympathy is appropriate. But I don’t think any legislative fix is necessary.

I agree entirely that freedom of contract is what’s at stake here, and legislation breaking private, freely negotiated contracts is always potentially dangerous.

]]> By: Leonardo http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75556 Leonardo Tue, 05 Feb 2008 17:34:39 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75556 Addedum, just to be clear, if fraudulent activity on behalf of the lenders is discovered, then stiff penalties and punishment should be applied for those cases. Addedum, just to be clear, if fraudulent activity on behalf of the lenders is discovered, then stiff penalties and punishment should be applied for those cases.

]]> By: Leonardo http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75555 Leonardo Tue, 05 Feb 2008 17:31:51 +0000 http://www.freedomtalks.org/2008/02/05/clintons-subpar-subprime-plan/#comment-75555 I am surprised that Mr Suderman actually agrees that a fix is required for a small number of borrowers, shocked should be the right word. However I disagree in this case. The most important thing here is: the value of a contract. Capitalism is built upon a simple concept, that contracts tend to be honored more frequently than not. If the goverment steps in and removes a big chunk of the certainty factor, then we will be in trouble for a long time and future borrowers will pay the price of such mistake. The second issue here is that the subprime mess affects both sides of the contract (the lender and the borrower). The homeowner will surely be without a home at some point, and the lender will be out of a sizeable amount of money that will be very hard to recover. But, this was a private deal, and no matter how "creative" some of the mortgages were, people freely signed them, if every time a party to a transaction makes a mistake we cry for goverment help, then we are screwed. No matter how cold hearted sounds, the subprime mess should be left alone, and the market should be allowed to heal by itself. If that requires that old and powerful banks take a big financial hit so be it, if CEO's, CFO's and analysts need to be fired, so be it. If some "naive" guys lose their half a million dollars homes they can't afford in the first place, so be it. Let the market alone! hopefully all of the idiots on both sides will learn a lesson. Both the greedy mortgage lenders that tought they discovered the new "gold" of the market, and also the naive guys that thought they could buy a home way beyond their means. I am surprised that Mr Suderman actually agrees that a fix is required for a small number of borrowers, shocked should be the right word. However I disagree in this case.

The most important thing here is: the value of a contract. Capitalism is built upon a simple concept, that contracts tend to be honored more frequently than not. If the goverment steps in and removes a big chunk of the certainty factor, then we will be in trouble for a long time and future borrowers will pay the price of such mistake.

The second issue here is that the subprime mess affects both sides of the contract (the lender and the borrower). The homeowner will surely be without a home at some point, and the lender will be out of a sizeable amount of money that will be very hard to recover. But, this was a private deal, and no matter how “creative” some of the mortgages were, people freely signed them, if every time a party to a transaction makes a mistake we cry for goverment help, then we are screwed.

No matter how cold hearted sounds, the subprime mess should be left alone, and the market should be allowed to heal by itself. If that requires that old and powerful banks take a big financial hit so be it, if CEO’s, CFO’s and analysts need to be fired, so be it. If some “naive” guys lose their half a million dollars homes they can’t afford in the first place, so be it.

Let the market alone! hopefully all of the idiots on both sides will learn a lesson. Both the greedy mortgage lenders that tought they discovered the new “gold” of the market, and also the naive guys that thought they could buy a home way beyond their means.

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