Re: fuel and things. danger? -- Beagle Tracks

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Subject: Re: fuel and things. danger?

Author:
JimB
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Date Posted: 08:25:19 05/11/08 Sun
In reply to: driver 's message, "fuel and things. danger?" on 19:31:05 05/10/08 Sat

I agree with you, Driver; there shouldn't be a bailout for the mortgage situation.

The lenders deserve to reap what they have sown. "Mortgages badly conceived, badly written, and badly executed" equal foreclosures and losses to the lenders. Those who invested in mortgage-backed securities made poor investments and should face their losses too.

The homeowners loosing their homes wouldn't have had them to begin with if their loans had been properly handled (there would have been no loan). There are exceptions to this, naturally, but for the most part they should have known better. They gambled on extremely high house prices growing even more and that didn't happen. I feel sorry for them but it doesn't change the basic facts.

I was laid off eight weeks ago; fortunately my financial situation is much better than 14 years ago, when this last happened. My home is now paid for, I have no car loan, no dependants living with me and money in the bank; four big differences.

I hope all is well with those who visit the Doghouse and this forum.

JimB

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Replies:

Subject Author Date

Re: fuel and things. danger? Dabeagle 10:22:27 05/11/08 Sun

Re: fuel and things. danger? Driver 16:57:18 05/11/08 Sun

Re: fuel and things. danger? -- JimB, 07:09:36 05/13/08 Tue

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>I agree with you, Driver; there shouldn't be a bailout >for the mortgage situation. > >The lenders deserve to reap what they have sown. >"Mortgages badly conceived, badly written, and badly >executed" equal foreclosures and losses to the >lenders. Those who invested in mortgage-backed >securities made poor investments and should face their >losses too. > >The homeowners loosing their homes wouldn't have had >them to begin with if their loans had been properly >handled (there would have been no loan). There are >exceptions to this, naturally, but for the most part >they should have known better. They gambled on >extremely high house prices growing even more and that >didn't happen. I feel sorry for them but it doesn't >change the basic facts. > >I was laid off eight weeks ago; fortunately my >financial situation is much better than 14 years ago, >when this last happened. My home is now paid for, I >have no car loan, no dependants living with me and >money in the bank; four big differences. > >I hope all is well with those who visit the Doghouse >and this forum. > >JimB

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