Why Fed Governemnt (or Congress or Senate) has to do something for foreclosed Homes?

[RPfan]

Before closely listening to Ron Paul, this reckless behavior of Politicians would have gone un-noticed for me. But now that I have got addicted idea of small Government, my blood boils when I hear these reports about Government intervening in something like house prices - does not make sense to me.

Foreclosure Relief Bill Clears Hurdle

http://ap.google.com/article/ALeqM5hTPEQZyeqPg80iIH0uvvPz6Lz3mgD8VP84RO0

I think it is ridiculous to take my money away in tax - and somehow arbitrarily deciding that certain level of house prices have to be maintained - so spend my tax money supporting sale of foreclosed homes!

I think Ron Paul (and we supporters) should pick up one cause (instead of spreading our efforts too thin on a number of things) and make that happen even if Ron Paul is not the President! Ron Paul is "the Leader" and he has the followers - he does not need formal Presidential powers to do something that will show his strength of his ideas.

Opposition to this ridiculous bill does not have to be that one thing but I have mentioned it as it is the one that being discussed and is pretty ridiculous sounding to any follower of low/no taxes, small Government.

If you support the general idea (not the specific one about foreclosed homes bill), bump the thread please.). Thanks.

 

[SeanEdwards]

It's brilliant. Their grand plan is to use taxpayer's money to buy foreclosed homes from the banks, so that the banks don't have to eat a loss, and thereby artificially propping up home prices.

I see it as a gigantic raised middle finger to all taxpayers who currently rent, and are barred from home ownership because of inflated housing prices.

 

[coyote_sprit]

I see it as a gigantic raised middle finger to all taxpayers who currently rent, and are barred from home ownership because of inflated housing prices.

I see it as a middle finger to people who actually bought a house they could afford to make payments on in 5 years.

 

[spickford]

I work in the mortgage industry, and have made sure that ever since I started writing loans that I never allowed anyone to do an adjustable rate mortgage that will surely put them out of their house if they cant refinance. So from the inside, I'm doing my part to try to keep this from happening to anybody else in the future.

I also completely agree with you, our tax dollars have no business propping up home prices and buying foreclosures so they banks dont have to take as big of a loss...let them suffer, they took the risk. Investing is a risk/reward game, and if you never lose when you dive into a high risk investment, then everybody might as well open a bank and lend their money freely!

Bump for the iidea...

 

[AJ Antimony]

Careful, the federal government IS the Congress (+ Prez + Supreme Sourt) and the Senate is a part of Congress. It isn't the Congress and the Senate... the Congress is the House of Representatives AND the Senate.

 

[TastyWheat]

It sounds heartless to most people, but we can't bail out everybody that makes a bad decision. The buyers made poor decisions accepting those teaser rates and the lenders made bad decisions by giving them to people that couldn't make the payments. This is not the way we deal with bubbles and recessions, handing out money to fix things. Hard times are inevitable and the longer it's delayed the worse it will be.

 

[icon124]

Read America's Great Depression by Rothbard, you'll learn everything you need to know.

 

[liberteebell]

Bump

 

[jkm1864]

I personally think the people involved from the banks to the applicants should be thrown in jail. The druggies can be set free and they can take their places. These irresponsible people have put the final death blow to this fragile economy so I think they should pay. I am so sickened that I have lost all of my equity in my house and all because of these pukes giving out loans like candy and the poor accepting them. Poor people are generally poor due to being irresponsible so whats makes you think they will be better off if they get a house. The poor in this country don't have homes because they do not want homes. You can say I don't know what I am talking about but let me ask You a question. How many poor people wait till they are financially able to have a child. How many poor people find a career that pays good and sticks with it. How many poor people work 84 hours a week. How many poor people use their sexual organs responsibly. You know statistically if You stick with a skill the longer you do it the more money you will make. Most poor people I have met do not understand personal sacrifice and going against you're own wishes for a long term goal. Most poor people I know live for today and don't care about tomorrow hence they remain poor. The middle class man or woman either goes to school or sticks with a job long enough where they outlast their other co workers and eventually receive a promotion or more money. The poor crowd think everything is instant and thats the problem with this country is no one wants to work for crap they want it right now. Well I for one am praying for a event in this country that will wake up the poor and teach them nothing is for free and You have to work hard for now and the future. I guess these people justify stealing my paycheck because I am supposedly rich and they have a right to my productivity. I would love to see a change in the attitude of our rights because in my opinion there needs to be a huge class action lawsuit where the middle class sues the welfare crowd and the federal government for violating our rights to pursue happiness. I know I do not enjoy having to work 1/3 more to offset the money that is stolen from me to provide a decent living for my family.