Taxpayers Shouldn't Have to Pay for Underwater Mortgages

Rewriting mortgages punishes lenders while doing little for the economy

Reader Comments
Back to argument

NO.....now I'm beginning to see first hand how this Robinhood plan works. My husband and I did without designer clothes and expensive cars, paid for our children's collerge ourselves,worked all our lives in order to pay off our home mortgage......I suppose you can guess the rest of this sad tale to be told by the many other responsible home owners who do without a more luxurious life to own up to their debt. Pay for your personal dreams and get punished; whine about not being able to pay for the house you bought and you shall be rewarded. This concept is so contrary to the USA I grew up in.

Marsha of TX 4:19PM February 09, 2012

How about considering the difference between the home owner and the house owner.

To one a house is a home, to live in, to be a part of the local community.

To interact and send their spawn to local schools to be properly indoctrinated to always OBEY the ruling class, corporate USA, etc.

To, perhaps, improve the neighborhood by maintaining their property.

To spend locally.

Etc.

Then there is the house owner who viewed and still does the house as a wealth creator while living elsewhere.

Should the investor be protected in the same manner as the home liver-inner?

Something to ponder.

And, remember... I believe the number of USA citizens loyal to the USA federal government, many of the entrenched bureaucracies, etc is falling.

I have been a member of the working-poor class most of my life, competing with multi-millions of invaders from the south much of my life.

Did the "Greatest Generation" compete with those folks?

Take a peek at the multitude of easily-found-upon-the-Web charts, graphs etc. based upon at least semi-reliable data; especially from 1972 or so onwards.

Observe economic facts the Baby Boom generation has confronted.

Economic and social changes.

Many "losers" as the "lines" show what Buffet has declared;

"There's class warfare, all right (sic), Mr. (Warren) Buffett said, but it's my class, the rich class, that's making war, and we're winning"

"Love" a country?

A fool's game.

Love what can love in return.

I regret my tow overseas military tours in the 1970s.

As an increasing number of USA citizens are shoved face-down into an economic mire do not expect the life-long propaganda to keep so many citizen-sheep to bleat their delight as they willingly don their mental slave chains.

The "Occupy" movement is futile and doomed.

The rulers merely need to let it fail of its own accord.

But... as time passes and events continue...

As folks realize that the "diversity is our strength" facade is merely a way to divide the lower classes, to keep them weak and growing weaker....

Well, a day of reckoning is inevitable.

A "House divided can not stand."

The Union is eventually doomed.

And rightfully so.

It is just a shame that the upper-crust will not suffer thanks to their wealth and being in cahoots with the elites of other countries.

But... I will be long dead and gone when the downfall comes.

Future historians will ponder but, so far, my predictions have been incredibly accurate minus a few minor details.

How sad that those that led the USA to ruination will not suffer as the masses of citizen-sheep will.

Obbop of MO 9:05AM February 09, 2012

Stop comparing this unregulated financial disaster to what used to be a regulated industry. If banks and gse's didn't get the deregulation they begged for then we wouldn't have nearly as big of a problem. Since they wanted deregulation, found out it was a bad idea and got bailed out, while in turn leaving millions with underwater mortgages. Let them eat cake and instead lets pay bonuses to the bankers! Great idea mr expert! Here's a little tip for you that you didn't include in your analysis. Most of us who bought into what we know now was a rigged market that would bail out banks, feel a bit betrayed by justice and so we will end up walking away, it could be next month, it could be in 10 years, we will still be underwater. We also wont forget who it was that caused this disaster. It was not the banks customers.

CAS of CA 1:57PM February 07, 2012