My House is my Freedom; Your House is our Prison – Guest Post
February 20, 2009 by admncc
Here at The Constant Complainer, in addition to my own posts, readers can submit Guest Posts on topics they would like to complain about. NeoConDon submitted the below-Guest Post. His complaint is the current mortgage crisis. It’s a quick and short perspective. So without further adieu, here’s Don…
I never intended my house to be my greatest investment. I know we’re told that it is by politicians, educators, and tax people, but I’m sorry to say that every single one of those people are wrong, lying, or both. Most never get out of their house what they put into it. The reason I decided to buy a house was because I didn’t like being told how to live, when to be quiet, what colors my walls needed to be, etc. When I bought my home, I was really buying a certain level of freedom, and we all know that freedom isn’t free.
Homeownership is an extremely expensive proposition. In addition to the mortgage, you need to pay taxes, insurance, and maintenance. Additionally, costs to furnish and keep utilities going can make things quite costly. The bottom line is this: Homeownership is not a right that can be guaranteed to everyone. It is merely an opportunity that is afforded to you if you show that you have been, and can be responsible. If you prove to be irresponsible, or things just don’t work out, you should not be given a second chance by the taxpayers. If the banker wants to give you a second chance, that is their right. But the taxpayers are not there as a hammock to coddle you. If you get to the point where you can’t afford your home, you have much bigger problems then being behind on your mortgage, i.e. car payment(s), credit card payments, computer payments, TV payments, and pet payments.
In addition to not borrowing money, I live by some very simple rules that I’ve picked up over the years from some intelligent financial people. First, if the total payment for you home (principle, interest, taxes, and insurance) exceeds 25% of your total monthly take-home income, you have too much house. Second, the total value of your vehicles (cars, boats, sea do’s, campers, trailers, etc) should not exceed 50% of your total yearly take-home. So, if your family has take-home income of $50,000, you shouldn’t exceed $25,000 in total value of vehicles, unless they are paid for. Finally, we need to realize that we cannot borrow our way out of debt. I wish our federal gov’t would figure that out. Instead, they are borrowing and printing money and then loaning it to the same people that got into trouble because they borrowed too much in the first place.
The actions of our federal gov’t are simply going to put people further into debt and just extend the dire economic situation. If you can’t afford your house, please do the rest of us a big favor…move into an apartment or rent a house. Lenders are willing to work with you on a short sale. If that doesn’t work, and you must be foreclosed on, that is much better than financing our nation’s future on your house. Someone will buy your old house from the bank and will either live in it or rent it to a family that is on their way up the ladder. You would have learned a valuable lesson, and eventually you’ll save enough money to buy another house and won’t make the same mistake twice.
Is your house a blessing or a curse? I hope it is as much of a blessing for you as mine is for my family. But if it’s a curse, why go into debt for it?
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A house is not am investment. A house is shelter. We both know that. The people who know this fact are not the people being foreclosed upon. The people who aren’t financialy adept are the ones who believe the lies, told by the financailly industry, for 20 years.
These lies told to the most needy among us is why there is a housing bubble and why there is a Bailout of these people. I heard a fact last night…92% of mortgage holders are current on their loan payments. This tells me that America is generally doing all right. It also tells me that the same bankers who told those lies to the neediest among us were all in line to give them sophistcated loans when the neediest among us came looking for the American dream. All the grassroots lies bankers have been sewing for the last 20 years finally bloomed fruit. Lies and greed, by the financial industry, is why a bailout is needed! Blaming the most unsophisticted among us is like blaming a child for touching fire. Curiosity and confidence are intrinsically human characteristics. Blaming the victim is UnAmerican and unwise!
Good post NCD.
Zig, I’m more inclined to blame the government for allowing/forcing the banks to make these bad loans as well as the banks and the borrowers. But regardless of the reasons that got us here, I just can’t seem to put my finger on the line in The Constitution that gives the federal government the authority to borrow against future American tax dollars to make loans for someone’s home. Foreclosure is a natural and legal progression. Bankruptcy is a natural legal option. My gut tells me that something else is being done here.
I keep hearing people say that I will basically end up paying for my neighbor’s (who couldn’t afford his house in the first place) house. That doesn’t make me very happy, as a guy who pays his bills and has his mortgage in check.
I agree with the post kind of, but not really. Congratulations on having a manageable mortgage and expenses…even though you don’t have a paying job. Just another lesson about the “Haves” and the “Have nots”. There’s a point that I want some of you to understand. Not all of these people who are losing their homes are irresponsible. Not all of these people are idiots. I’m sure plenty of them had their mortgages in check, just like the advice you had laid out for 25% of income. However, WHAT HAPPENS WHEN PEOPLE LOSE THEIR JOBS??? You’re a stupid idiot if you think that YOU can’t end up like them. It can happen. It isn’t always a case of “Well the bank shouldn’t have loaned them money in the first place.” That really irks me when all of you write this holier than though BS and judge people you know nothing about.
I’ll tell you a little secret. When the economy slows down…people start getting laid off. When people start getting laid off, they have less money or no money at all. When people have less/no money, they get foreclosed on and lose possessions.
So now that I’ve established that these families have no money and no where to live, our homeless numbers just went up. But who cares right? I’m sure you’re ok with little kids sleeping in the streets, but I’m not. Don’t tell me that they can go rent an apartment or house, because guess what…McDonalds isn’t even hiring. So what are they to do? If they live in a shelter, they’re a drag on taxpayers. If they get bailed out by the government, they’re a drag on taxpayers. The only way I guess you want it is for them to live on the streets, that way you don’t have to think about them.
I also want to point out a contradiction you said earlier.
At the beginning of the post, you say:
“If you prove to be irresponsible, or things just don’t work out, you should not be given a second chance by the taxpayers”
And at the end of the post you say:
“You would have learned a valuable lesson, and eventually you’ll save enough money to buy another house and won’t make the same mistake twice.”
So which is it Don, do people get a chance to learn from their mistakes or not? Not everyone can be lucky as hell to be in your situation. As a matter of fact, most families that relied on one income, with a house, 3 or 4 kids, and two cars…would be homeless within a month. So again, congratulations.
Once again, you’re a judgmental jerk who knows nothing about the topic. You only know about your own situation…which is a rare one.
Sorry Linear Libby, I don’t see the contradiction…??? This post was pretty straight forward, even for someone like you.
It is immoral, unconstitutional, and far beyond the role of gov’t to borrow against future taxpayer dollars to finance these mortgages.
A person that has set up their life so that losing one month’s income would force them to lose their home is the definition of irresponsibility. Putting the taxpayers on the hook for that behavior is insane. There are already systems in place to help people in those situations with food, clothing, and housing.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/21/AR2009022100911_pf.html
The link above is a story from the Washington Post. The first paragraph details the precise reason why we will soon find ourselves in a depression…the farther we move with this, the more appearant it is that Obama is trying to wreck the economy on purpose. It’s as if he’s laying out a plan that will force bail-out part two and three. Obama makes George W. Bush look brilliant.
You have no idea what other people go through. It’s very easy for you to judge sitting on your high horse. How’s the view up there Don? You don’t even have to worry about a paying job. You’re clueless about Main St. America. Just another judgmental jerk.
Mike,
You are quite possibley dumber than Obama. I’ve read everything don and you wrote. You just don’t get it. Don has judged no one. If anyone is being judgemental, it’s you.
Don judges everyone and everything he doesn’t understand. It’s a conservative thing. As a matter of fact…so do you. I’m not discussing politics this time. I’m talking about how Don is behaving like his crap doesn’t stink. Does yours Otis?
I thought we wre talking about the reason for the Bailout… When did it turn into a discussion of NCD’s crap?
NCD, how would you have fixed the problem(s) Obama inherited?
Otis, you are the biggest bandwaggoner…
Mike, you are exactly right about these 2 guys. They cannot and will not put themselves in other guys’ shoes, feel empathy. They can feel no sympathy… Both of these guys have no heart!
NCD “throws rocks,” but hides behind his conservative/no Government stance when it comes time to answer for his actions and statements! You give no solutions! Because NCD does not show empathy or give solutions, to me he is a non-entity and he only serves to irk me.
Obama in 2012! Hillary in 2016! It’s coming…just wait!
C’mon Zig. I don’t need to give any solutions, they’re already there, and gov’t isn’t one of them. Of the 6% of mortgages that are behind, most will be able to be worked out with the lenders. Those that can’t work out a deal with their lenders are clearly in a situation where having a mortgage is a bad idea. They can try to short it, or get foreclosed on, but they need to get out, not given more debt by King Barry and the tax payers. Likely, they are buried in other debt as well, so they have the legal options of bankruptcy. For many people, a fresh start is a good thing.
There is absolutley no reason for the federal gov’t to steal money from taxpayers as it did (and continues to threaten to do). It is unconstitutional and immoral. Today, King Barry is talking about tax increases on businesses and the rich to pay down the debt. That is the most moronic idea to come out of Washington since Jimmy Carter wore a sweater in the Oval Office.
I don’t know what liberals have against personal responsibiltiy and learning life’s lessons, but their behavior as of late is eerily similar to that of some certain leaders in 1920’s and 1930’s Eastern Europe.
And Linear Libby, you are absolutely the one being judgmental. I am merely stating facts about my situation. It is a situation that took years of work to get to, and it was done with purpose. Those are facts, and facts are very stubborn things, but they are anything but judgemental.
NCD, on what planet do you live? Do you think any of those “problem” mortgages would have been “worked out” without Government intervention? I think not!
While you live in your “fantasy/ideal” world, I live in the real world. While I agree that declaring bankrupcy would be the BEST thing for anyone who cannot pay their debts, I also believe that the G is esentially doing just that! The G bailout of homeowners doesn’t come with no strings attached! I haven’t studied the proposal, but if it were a free ride to homeownership…it would have never been passed by Congress!
It’s like this…either the G be proactive and try to drum up a little equity (and possibly get a little money back) to save the economy. Or, they PAY the debtors’ claims (as you indicate) and receive nothing in return (no money back) and the economy crashes! I am all for personal responsibility, but I am not for punishing the victims of predatory lending and watching my tax dollars being wasted! If my tax dollars are being used to BAIL anyone out, I want to make sure my tax dollars are being used to BAIL out people who need HELP! I live in a Democracy!
You don’t pay Federsl Tax anyway! Why are you so worried?
Sorry Zig, this is not a democracy. It is a republic.
The banks would in fact work with the homeowners if the situation warranted. The last thing the banks want is another foreclosed property, but the banks are being forced by the gov’t to expand these mortgages for peopel that need to make different decisions. That is tyranny. The best way to explain it is like this: If people who are in the profession of loaning money are telling you that they won’t loan you money, chances are you shouldn’t be borrowing. All the gov’t is doing is creating new victims. Today’s problem mortgage holders aren’t the victims you keep referring to. Those victims were foreclosed on two years ago and are out of the system. These people simply didn’t do the right things to prepare for a rainy day. Soon, they will become a new round of victims created by liberalism and gov’t tyranny…all in the name of helping people.
If you liberal do-gooders really want to help people, you should begin demanding that we’re teaching simple finance in our schools, instead of bogus “science” invented by Al Gore.
Don’t worry Zig, my tax roles will soon be going up. Two of my businesses are starting to bloom, and King Barry has said that he will let Bush’s middle class tax cuts expire…everyone’s taxes in the middle class are going up, and the wealthy will likely double or tripple. Then we’ll be in a depression.
Forgot to respond to this question by Zig.
“You don’t pay Federsl Tax anyway! Why are you so worried?”
I’m concerned about gov’t tyranny, and King Barry is proving more and more to be a tyrant that is systematically removing personal liberty from every business system on a daily basis…all under the guise of “helping people.”
First of all, our representative democratic form of Government is called a DEMOCRACY!
You give the BANKS to much credit, which is credit they do not desereve! People’s mortgages are only being adjusted to more realistic levels. The HOUSING BUBBLE was created by “banks” and other mortgage lenders! Banks are the biggest victims of their own negligence!
See, you live in the hood so you wouldn’t know this, but foreclosed properties bring down others’ property values. Where you live the housing stocks so old no one cares if they can’t sell. It’s expected not to sell. And the schools are already poor! New home owners don’t like Blight in their neighborhood. People who live in NICER neighborhoods, where poorer people aspire to be (because of better schoools for their children and better city services), are becoming victims of others’ lack of resonsibility! If the G let your neighbor’s property be forclosed upon, it would effect your propery value. A Foreclosed upon property brings down neighbors’ property values, which brings down property tax revenue for a city… Therefore, everyone in the city would be a “victim” of someone else’s negligence! It is a spiral and would lead to further polarization of America if nothing was done! Oh no, my friend, you may not pay Federal taxes, right now. If housing values were allowed to continue on their downward spiral, every person (and tax payer) in America would be Victim!
Oh and just because a Tax CUT expires doesn’t mean taxes are going up. It means that they will no longer be CUT, idiot! Do you follow the “logic?”
If you were being logical, I’d follow it. Nothing you said about the banks and mortgages is correct, and you have yet to address the immoral role gov’t is thrusting upon us. Who will bailout the victims gov’t creates?
I choose liberty over tyranny. We do not live in a democracy, the founders were clear. Democracy is tyranny by majority rule, and the majority usually becomes one single dictator.
Expired tax cuts means taxes will return to previous levels…that is a tax increase…unless you want to start redefining words too. Don’t worry, King Barry the Great is very close to doing that.
EXPIRED tax cuts means “taxes will return to previous levels…” you said it yourself! That is not a tax “increase.” Unless, you want to start redefining words and correcting your own utterances! How is that a tax hike?
I’ll tell you what, NCD. You can choose to do whatever you want. I don’t care! As long as you don’t participate in the democratic process (paying your Federal Taxes, voting and taking part in political events) how can you expect to change the process and ergo, the world? The squeaky wheel gets the grease… It seems to me that anyone who speaks out, about the status quo, with such emotion and vigor as you do should do more about it than just sit at home, pick nose, wipe ass and change diapers! It appears from your dialogue that you are a very severely maladjusted misanthrope who needs to accept CHANGE into his life!
I’m not trying to change the world. I simply ask that my president and both chambers follow the oaths to protect the Consititution. Tyranny is not what I would consider change for the good, regardless of how His Royal Highness King Barry and Presidents Pelosi and Reid package it. The Germans and Italians wanted change too. Take a look at what these policies led to there.
I do not know which makes a man more conservative—to know nothing but the present, or nothing but the past.
– John Maynard Keynes
NCD, where do you see Tyranny? The tyranny you speak of is in your own mind. You are limited only by your lack of imagination…CONSERVATISM…and your lack of willingness to try and learn new things, Conservative!
TARP is the epitome of tyranny. The gov’t forced banks to take the money. Then, like a bunch of tyrants, they told them they couldn’t buy planes, re-do offices, or pay executives beyond $500K. None of that is the business of the federal gov’t. When the gov’t tells businesses how to operate, it effects the shareholders and their customers. Pure Tyranny. When will it end? How far will they go?
The “communist Bill” that was just passed gives the gov’t the authority to interfere with medical treatment. It also makes medical records of private citizens available to the gov’t . Certainly someone like yourself that supports murdering infants in the womb can understand the tyranny in this legislation.
Social Security is pure tyranny.
There are others, but I’m likely wasting my time on a someone like you. Anyone that thinks liberalism looks at new ideas and conservativism does not is clearly too ignorant to be reasoned with…comrade.
One of the largest reasons for the issues in the housing market is the banks themselves created their own problems.
When I was purchasing a home, I was pre-approved for an astronomical amount based on my, and my spouses salary which included a healthy “bonus” portion of income.
That is exactly what it was, a bonus. The amount of the mortgage would have been almost 50% of my income + bonus. I looked at that and laughed. Even asked the banker to only write my pre-approval letter for 1/3 of what I was approved for. She said that with that, I may be limiting my options for housing. I figured that it was just another opening for a negotiation strategy that this was “All I had to work with” and it worked in my favor allowing me to knock nearly 20,000 off of the asking price for a home + property.
The mortgage payment is something that I can make if I were to lose my current employment and had to do the “minimum wage” thing to “get by”. I wanted to live in a home, not for the home. If a majority of our materialistic counterparts realized that it is “what’s inside” that counts, and image is not “everything” most of the market would still not have the issues that it does.
Also we never truly “own” anything. For those who have paid their taxes and voted regularly and still been condemned due to eminent domain they understand that we only “rent under penalty of subjective eviction”
William,
You make some excellent points. My research has concluded that the banks weren’t necessarily the one’s adjusting the ratios, but the federal gov’t was adjusting the ratios based on what they would insure. There are a number of banks that did not get into the business of the gov’t guaranteed loans with ridiculous rates. I hardly blame the banks soley for this crisis; the federal gov’t of Clinton and W are extremely responsible as well. Not to mention the borrowers.
It’s very interesting that you brought up imminent domain. The gov’t has been doing everything it can to get its hands on prime property, and what better way than to guarantee bogus loans and force the banks to go with it…and then tell the home-owner that they’ll be forgiven the debt if they simply sell the property to the gov’t. I believe that is coming next. Pure tyranny under the guise of helping people. Change you can believe in!
Here’s another example of Obama’s tyranny:
He’s giving his State of the Socialist Republic Address on Tuesday, the same day as American Idol and the number one TV viewing day of the week. That has forced Fox to move Idol to Wednesday. This could be an impeachable offense.
NCD, what kind of BS is this about, “The gov’t has been doing everything it can to get its hands on prime property.” Are you freakin kiddin me? The G is not trying to get it’s hands on prime property. They are also not in your house… Why do you make such stupidass claims? Please give me one example of this…and site your source!
Also, you blame the G, by saying, “My research has concluded that the banks weren’t necessarily the one’s adjusting the ratios, but the federal gov’t was adjusting the ratios based on what they would insure.” Then you go on to say, “There are a number of banks that did not get into the business of the gov’t guaranteed loans with ridiculous rates.” You can’t have it both ways, idiot. There is such a thing as free will here. If the banks didn’t like the terms/ratios, they shouldn’t have offered the loans!
So, how can smart banks remove themselves from government tyranny and ratio gameplay and dumb ones don’t and now it’s the G’s fault? The dumb banks, who are sucking on the G teet, were the ones who saw the income stream that could be generated by offering “creative financing” to offer people loans they couldn’t afford! In reality, the honest and succesful banks did not offer people who couldn’t afford their loans any “creastive financing.” While greedy, corrupt and capitalistic, money hungry banks offered loans to anyone with a pulse. This whole mess is on the banks! I can’t wait for Nationalization of the banks!
You are such a douche bag!
Zig,
You clearly don’t understand the mortgage industry, and I don’t intend to teach you.
The gov’t using Imminent Domain for the purpose of stealing prime real estate from citizens is typically a state and local problem. But, when you consider the low honesty level of our Commander-in-Chief, and Presidents Pelosi and Reid, it makes sense that the reason they want to steal taxpayer dollars to illegally force banks to make bad loans and then buy them up can only signify King Barry’s desire to use the lie of “helping people” as a method to steal their property through imminent domain…he would likely sell it to the highest bidder.
The definition of the highest bidder is the guy that would donate the most to his campaign AND give his mother-in-law a house so she’ll move out of the Whitehouse; she’s likely still proud of her country and might narc King Barry out.
You have to remember Zig, we’re talking about liberal socialists, so the concept of honesty and doing good for the citizens is out the door. Clearly he’s successfully tanking our economy, so the next step is to force bad loans and then buy them up…Maybe the gov’t will decide to be a land-lord. It will look like 1930’s Germany all over again. Heil King Obama…!!! Comrade.
I still like my solution to jump start the economy:
Cut the capital gains and income taxes, cut federal spending and fire 25% of the federal workforce. Immediate economic jumps will occur.
The government has been acquiring real estate forever. During Regan’s term, my grandparents were forced to sell their home to make way for an airport expansion or something along those lines. This isn’t an Obama thing Don. Also I love how you’re saying that all of our problems are Obama’s fault, even though he’s only been in office for a month. You’re a moron. Call him whatever you’d like, but even you have no idea what he’ll do to help/hurt this country. It’s all BS conjecture, with added BS.
Edit: “Reagan”
Linear Libby,
I’m growing very tired of correcting you…I fell like I should get some of money you get back when you sue your “educators.” Liberalism is the problem. Bush was an economic liberal.
On the immenent domain issue, it is clearly written in the constitution that congress has the authority to take private proptery for public us so long as there is just compensation. An airport can usually fall in that category. The liberals of today are making the decision that the property can be seized by the gov’t because the gov’t can collect more tax dollars from that property than a single family home. So the gov’t is forcing people off of their personal proptery, then they sell or lease the property to Target and Walmart for a higher tax volume. That is tyranny from start to finish.
IF I’m right, and we won’t know for a few years, the federal gov’t would have nationalized the banks, and are either the landlords to the victims King Barry created, or they own tons of real estate.
But at least we agree, King Barry is full of B.S…and lies.
Nice try, but no we don’t agree on that last statement. The BS conjecture I was talking about is what comes out of your mouth on a daily basis.
Did you get that refund yet Libby?
Here’s another example of King Barry and liberal tyranny: What business is it of the gov’t to say how a bank can spend its own money to do business? This bank was bullied into taking the money. Even if they weren’t forced to take it, and asked for it, who is John Kerry to say how a company should conduct business for its clients. If John Kerry had a real job, he might understand…
http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH90906_2009-02-24_18-49-19_WBT010719.htm
I recently offered a single UNEMPLOYED FOR 10 MONTHS mother with a 10 year old…. a Corporate training position, with company vehicle…. She lives 2 blocks from the Corporate Office….. Starting pay $11 per hour, make your own schedule….. Oh and I don’t want to forget to mention that her Fiance’ is also unemployed and she did this position with us for a year before being promoted than leaving for another company in our industry, which ended up letting her go.
Think she took the job????
Nope.
She would rather stay home and collect unemployment.
We are In the middle of acquiring another tanning salon.. The owner of the salon has been on unemployment for 9 months, he’s in the middle of starting another business as well… Been collecting, still collecting and has every intention of continuing to collect.
Im sorry, Im not in the mood to be forced to help EVERYONE that claims to need it when EVERYONE that claims to need it doesn’t actually need it.
Excellent Guest Post.
John,
You’re also an IDIOT if you think that EVERYONE that claims to need it, doesn’t actually need it. You can say some people, but only a moron would say all people. Are you of any relation to Don?
And Don, WTF?
No where in that link you provided does it say anything about Obama and what you call tyranny. All that article says is that John Kerry is trying to make sure companies/banks who receive the bailout money aren’t blowing it on parties, retreats, or other lavish expenses. Don’t be a freaking jerk, he’s doing a good thing.
If I give a homeless man five bucks, I want him to go out and get food not booze. I can’t really control the homeless man, but if we can control whether or not the banks waste the bailout money then I’m all for it.
And what’s this crap about saying “If John Kerry had a real job”? You don’t even have a job!!! If you had been in Vietnam, you probably would have been fragged. (That means killed by friendly fire on purpose). Yeah…you’re that annoying and stupid.
Next time when you post a link, make sure that it actually backs up the BS you’re slinging.
KIDS: Don’t be a conservative tool, stay in school.
Libby,
So you think that when the gov’t tells a business how to spend its own money, that it’s not an act of tyranny. John Kerry has never had a real job, I have, and still do.
Gordon Gecco,
The keyword there is “OWN” money. The gov’t isn’t telling businesses how to spend their OWN money. They’re telling them how to spend bailout money, which isn’t owned by those businesses. Get your facts straight or GFY.
The federal gov’t does not have the authority to tell businesses how to spend their money. Who is the gov’t to say that entertaining clients isn’t a reasonable way to do business. Or buying a corporate jet, or investing in a foreign operation…??? The do not have that authority.
This particular bank was one of the banks forced to take the money, so this goes beyond unconstitutional. You are really ignorant Libby.
If I was the CEO of one of the companies that took bail out money, or was forced to take it, I would have still held this lavish party, and places an ad in the WSJ in the form of a letter to the president.
Mr. President,
Every February, our company holds a client appreciation function to thank our best clients for doing business with us. We also ask each client to invite a friend so we have the opportinity to expand our business. As I’m sure you are aware, this is common practice for most businesses. Historically, we have spent $1 million on the function, but we wanted to let you know that we are not doing that this year. Our total assets are just over $1 billion, and we were “awarded” $1 billion by the federal gov’t in the TARP bill. Even though we did not request these funds, we still respect the taxpayers that had their money stolen from them and forced onto us. So, we have decided that we are going to spend half as much on our customer appreciation function this year. That accounts for the taxpayer money being equal to one-half of our total assets, with the other half being TARP funds. Next year, we will return to our normal procedures of doing business. If you have any questions or comments, please direct them to our CFO. He will be happy to cut you a check so you can get back to being a dictator.
How about GM doing everything they can think of to stay afloat and getting flack from congress when they decided to invest $1 billion in their Brazillian facilities. The gov’t has the authority to tell them they can’t do the things they need to do to stay in business? Plus 80% of the team put together by King Barry to track the spending of the auto makers drive foreign cars.
Obama calls those people “Czars” Isn’t that what the communists called their leaders? It was an extension of “Ceasar”
These CEO’s should simply tell congress to screw themselves and publicly remind them that they don’t have the authority or intelligence to tell a corporation how to do business. The CEO’s should further remind these morons in congress that they stand with the American People, believe in American Exceptionalism, and recognise that Gov’t is not the solution, but the problem. Finally, the CEO’s should remind the morons in congress that they do not work for the gov’t, they work for the share holders. Oh yeah, while they’re at it, congress needs to be reminded that they are the servants of the American People, and if they think they can do a better job at running a business and creating wealth, the should leave the comfy concubine of Washington and get a real job. The only kind of jobs created by gov’t are the kind that are drains on the tax payer.
If I give you money to keep yourself afloat during tough times Don, you can bet there’ll be constraints as to how you can spend it. That money doesn’t belong to you and you SHOULDN’T be allowed to blow it. And it also says nothing in that link about how that particular bank was “Forced” to take the bailout money. Sorry if I don’t believe every glob of crap you pull from your behind.
No need to worry about you giving ME money, Libby. I don’t borrow money. Perhaps the gov’t should produce the contract that set the limits on the money they provided to the companies, or find a way to prove that the money was used for the functions. If it was a hand out, after the money has changed hands, it no longer belongs to the gov’t. If it is a loan, the gov’t has no right to say what it’s used for after the loan has been given. It still comes down to the question of where does the gov’t find the authority to tell a business how to spend its own money? Who is the go’vt to decide what is blowing the money and what is not? One of the BIG banks is signed up for the naming rights on a MLB stadium, and took bailout money because it was going to collapse. There have been debates on whether that company should still spend the money on naming rights. What gives the gov’t that authority? Nothing. This is the pure application of gov’t tyranny over American business.
There were several CEO’s that had the guts to let the public know that the gov’t forced them to take the money, this was one of them. Others simply said the gov’t left them no choice but to take the money.
Now, with states contemplating the restrictions the gov’t is forcing on them with the bailouts, there are Republican and Democrat Governors contemplating on not taking the bail out money becauce of the tyrannical consequenses associated with them.
You stupid liberals just amaze me. You get your panties in a bunch when the gov’t wants to have secret warrants for wire taps, but think it’s okay for the federal gov’t to order businesess around and choose winners and losers. Heil King Barry, comrade.
Here’s another…
Obama is putting $634 billion into a health care fund…when we don’t have socialist healthcare…??? Seems like he’s making decisions without even having a debate…sounds fascist to me. Can you say hello to the 1930’s European socialists?
I did not say this! Most likely this was Mike…Clearly someone has admitted that they’ve had their stupid liberal brain handed to them. At this point, it is difficult to take anything Mike says as legit. This is a perfect example of a liberal liar.
# Otis Says:
February 26th, 2009 at 1:21 am
Yes…I see Mike’s point here. I’m starting to think that NCD is clueless. Thank you Mike for pointing this out to all of us.
That is absoluetly hillarious Otis. I’m certainly not surprised. I guess I need to change his nickname…
“Lying Linear Libby”…how’s that for alliteration?
Former KKK member and current Democrat Senator Byrd has sent a letter to King Obabma warning him that he is stepping beyond the constitutional authority of the president by appointing his “CZARS” to oversee certain things in the United States. These “CZARS” will report directly to and only to King Barry. The will have a greater impact on policy than his cabinet will. None of what they do is reportable to congress, unlike the president’s cabinet. This is a Democrat saying this. Even the left has identified King Barry’s tyrannical tendancies.
Yes you’re right Otis, that was me who posted under your name. I admit to it, which makes it not lying. It’s a clear cut example on how people can have multiple names on this blog and use one to support the other’s theories. hmmm…
Of course I’m right Mike. I can’t remember the last time I’ve been wrong.
Lying Linear Libby,
Let me get this straight…You lied, then after you were called out on it, admitted it. That makes it not a lie? Is Bill Clinton your daddy?
Wow…The United States now owns around 70% of Citi-Bank. Boy am I glad I’m neither a customer or shareholder. I highly recommend moving your accounts.