Ben Bernanke can't get a mortgage....

[thequietkid10]

http://blog.sfgate.com/pender/2014/10/03/ben-bernanke-cant-get-a-mortgage/

This is an elaborate prank or we are FUBAR

 

[Christian Liberty]

Or maybe he just has a bad credit rating? Running trillions of dollars of debt could do that

 

[willwash]

He doesn't have access to the printing press anymore. I need to change my avatar...but I like it too much.

 

[Deborah K]

Poetic justice.

 

[euphemia]

I guess now the damage he did will feel a little more personal.

 

[Zippyjuan]

The era of "they'll give a mortgage to anybody who can sign their name" is officially over.

 

[PRB]

The era of "they'll give a mortgage to anybody who can sign their name" is officially over.

is that a good or bad thing? didn't that benefit everybody who was selling house or land, and create jobs for people in the mortgaging business?

 

[Zippyjuan]

"Lending to anybody" regardless of their ability to repay a loan is what caused the housing bubble and collapse. Those issuing the loans didn't care because they got a commission for issuing them and won't be the ones to try to collect the payments since the loans were going to be resold. It was all about the volume they could create. In the "old days" a bank issuing a mortgage kept that mortgage until it was paid off so they took more care on who they lent large sums of money to. It is certainly a good thing that those days are behind us. Some would argue that things have gone too far the other way when somebody like Bernanke and his resources can't even get a new loan though.

 

[PRB]

"Lending to anybody" regardless of their ability to repay a loan is what caused the housing bubble and collapse.

But you can't deny that the bubble helped so many people by creating jobs and making housing profitable. And it wouldn't have collapsed if we just kept inflating it.

Those issuing the loans didn't care because they got a commission for issuing them and won't be the ones to try to collect the payments since the loans were going to be resold.

And WTF is wrong with that? The whole point of capitalism is to care about yourself and not other people, if they cared about other people they'd vote Democrat and ask for more taxes. Of course a person should only care about his/her own job, oh wait, is that the broken window fallacy?

It was all about the volume they could create. In the "old days" a bank issuing a mortgage kept that mortgage until it was paid off so they took more care on who they lent large sums of money to.

And that meant LESS JOBS.

It is certainly a good thing that those days are behind us. Some would argue that things have gone too far the other way when somebody like Bernanke and his resources can't even get a new loan though.

Proof that he has no government privileges.

 

[Working Poor]

well my heart is pumping pi$$ for him.

 

[euphemia]

is that a good or bad thing? didn't that benefit everybody who was selling house or land, and create jobs for people in the mortgaging business?

Not when the buyers couldn't afford houses in the first place. You know who ends up footing the bill for that, don't you? I'm paying for my house pluse a few more that are way better than mine.

 

[Deborah K]

But you can't deny that the bubble helped so many people by creating jobs and making housing profitable. And it wouldn't have collapsed if we just kept inflating it.

And WTF is wrong with that? The whole point of capitalism is to care about yourself and not other people, if they cared about other people they'd vote Democrat and ask for more taxes. Of course a person should only care about his/her own job, oh wait, is that the broken window fallacy?

And that meant LESS JOBS.

Proof that he has no government privileges

Can't tell if serious.

 

[euphemia]

The whole point of capitalism is to care about yourself and not other people, if they cared about other people they'd vote Democrat and ask for more taxes. Of course a person should only care about his/her own job, oh wait, is that the broken window fallacy?

If they cared about other people, they would realize that at some point the loans were not going to be paid back and that hurts everyone, including the underwriters. The people who wrote the mortgages are also paying for the houses where the owners defaulted.

 

[PRB]

Can't tell if serious.

why wouldn't I be serious?

 

[NorthCarolinaLiberty]

Can't tell if serious.

PRB is a liberal troll who pretends he's libertarian. Just check his post history. He told me has 4+ guns. The questions I asked him revealed he did not know the first thing about guns. His excuse was that he is not as gun obsessed as most RPF members. Many other examples like this.

He states he is for smaller government, but (at the same time) is always poking holes in libertarian arguments. He pines to be libertarian, but alas--it is just not practical!

 

[NorthCarolinaLiberty]

The whole point of capitalism is to care about yourself and not other people,..

The whole point of socialism is to use government to take money from others and give it to oneself.

 

[PRB]

PRB is a liberal troll who pretends he's libertarian. Just check his post history. He told me has 4+ guns. The questions I asked him revealed he did not know the first thing about guns. His excuse was that he is not as gun obsessed as most RPF members. Many other examples like this.

He states he is for smaller government, but (at the same time) is always poking holes in libertarian arguments. He pines to be libertarian, but alas--it is just not practical!

I'm still waiting for you to tell me which hole I poked in libertarian arguments, because I just don't know any.

 

[PRB]

The whole point of socialism is to use government to take money from others and give it to oneself.

Exactly, which is why I'm against it just as much as you are.

 

[NorthCarolinaLiberty]

I'm still waiting for you to tell me...

I'm still waiting for you to tell me the RPF members obsessed with guns.

 

[PRB]

I'm still waiting for you to tell me the RPF members obsessed with guns.

I already told you, anybody who thinks he needs to tell you what guns he owns to prove he has them, rather than simply say he loves his guns and not have to explain and reveal what they are.