Stimulus slush fund for the housing entitlement mob
Stimulus slush fund for housing entitlement thugs
by Michelle Malkin
Creators Syndicate
Copyright 2008
From tiny acorns, mighty government debacles grow. House GOP Leader John Boehner on Monday rightly sounded the alarm over billions in stimulus tax dollars that could potentially go to the Association of Community Organizations for Reform Now. But the Republican leadership has only scratched the surface over what amounts to a bottomless slush fund for a bigger coalition of housing entitlement thugs. ACORN, you may recall, is the Chicago-based left-wing activist group with longtime ties to community organizer-turned-President Obama. The non-profit, which now takes in 40 percent of its revenues from American taxpayers after four decades on the public teat, has a history of engaging in voter fraud, corporate shakedowns, partisan bullying, and pro-illegal immigration lobbying. The Democrats’ stimulus proposals could make the group — and its lesser-known, even more radical ideological allies — eligible for upwards of $5 billion in new public cash.
Talk about subsidizing failure. These are the same activists that helped sow the seeds of the subprime meltdown. They aggressively played the race card and pressured banks to loosen standards, throw out down payments, and lend to some of the nation’s most riskiest borrowers. Now, these mobs protest across the country, disrupt foreclosure auctions, threaten bank executives, and accuse lenders of, yep, racism for lending to those riskiest of borrowers.
The stimulus slush fund for these housing entitlement thugs is innocuously dubbed the “Community Development Fund” in the House version of the stimulus bill. Some $4.19 billion would be “used for neighborhood stabilization activities related to emergency assistance for the redevelopment of abandoned and foreclosed homes.” The legislation changes the way the fund would be disbursed and loosens lobbying restrictions. Previously, affordable housing groups applying for the grants would be vetted by the U.S. Department of Housing and Urban Development or state and local government agencies. Under the stimulus bill, as non-profit watchdog Mathew Vadum points out, the middlemen would be eliminated — “making it easier to get Uncle Sam’s largess directly into the hands of the same people who run ACORN’s various vote fraud and extortion rackets.” Moreover, Vadum reports, “the legislative package provides these funds without the usual prohibition on using government money for lobbying or political activities.”
ACORN denied this week that it had lobbied for this booty. But it is the largest and most obvious beneficiary. ACORN is the granddaddy of foreclosure prevention/housing redevelopment lobbyists listed on the US Department of Treasury website. Over the last month, its members have held neighborhood protests in New York, Wilmington, Albany, Baltimore, Boston, Cincinnati, Cleveland, Columbus, Detroit, Durham, Flint, Miami, Minnesota, Oakland, Orlando, Phoenix, Pittsburgh, Raleigh, Tucson, and St. Louis. Keeping people who shouldn’t have gotten loans in houses they can’t afford across the country is their bread and butter.
If not ACORN, then who? Next in line for the stimulus windfall is the Massachusetts-based Neighborhood Assistance Corporation of America (NACA). Founder Bruce Marks proudly calls himself a “bank terrorist.” As I reported last spring, Marks threatened to march into the neighborhoods of bank executives and bully their children. He’s done it for years, all under the guise of “social justice” and “neighborhood stabilization.” Marks’ agenda is blatantly political and personally lucrative. NACA — with dozens of offices across the country — has a no-down-payment, no-closing-costs, low-interest-rate policy for low-income minority borrowers — and takes a hefty fee for each transaction. NACA loan applicants are then required to attend workshops getting indoctrinated in the group’s protest thuggery.(See Howard Husock’s invaluable 2000 City Journal piece here.)
The NACA recruits serve on, you guessed it, “Neighborhood Stabilization Committees.” Those whose loans are approved must then pledge to assist the stabilization committees in five “actions” (like the spring 2008 mob protest at Bear Stearns’ New York headquarters) per year. It’s an endless cycle of demonstrations on the front end (to get the loans) and the back end (to prevent foreclosures on bad loan risks) and back again in an endless loop. These shakedowns have yielded nearly $10 billion in payoffs from capitulationist corporate giants Citigroup and Bank of America.
Do lawmakers really want to sign on to this self-perpetuating government racket and self-proclaimed bank terrorism? Insanity, the old saw goes, is doing the same thing and expecting different results.
Any self-respecting Senate Republican who would vote for this multi-billion-dollar slush fund in the name of saving the economy needs his or her head examined.
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Categories: ACORN Watch, Subprime crisis, fiscal stimulus
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Economic Meltdown = Acorn Victory
The Obama National Plan.
Good one Michelle, the NAZI brown-shirts couldn’t have thought up a better plan to reward demonstrators.
So, stabilizing the neighborhoods means removing the illegal aliens, right?
Of course ACORN will get a ton of money! Obama owes them for all the voter fraud and their agressive campaigning for him. It is payback time. They need more taxpayer’s money to campaign for his re-election. Remember, elections have consequences and he is now in charge…so don’t even question his “good judgement” or you will be labled an “obstructionist”. He also needs to add into the “stimulus” package a larger budget for heating the White House. I am literally sick to my stomach.
I still want to know where this money is coming from??????
We have to either print it or borrow it and most of the world is worse off than us.
Basically each branch of ACORN has 10-20 full time staff that aren’t the canvassers who actually commit the voter fraud. They’ll all get a bunch of money (the higher ups at least) to help a handful people.
Administrative overhead will be about 10 times higher than the money that goes to any services. The services themselves won’t help anyone and will only serve to further screw things up.
Most of the community development groups/nonprofits have been in these neighborhoods for over 20 years. The bulk of them haven’t ever done anything that substantially benefits the neighborhood.
Giving money to worthless community stabilization/redevelopment nonprofits has been a big part of the democratic machine since LBJ’s War on Poverty. Acorn is just the latest beneficiary.
Maybe it is time, or past time, for people who actually own property to carry signs that say, “G.D. America!”. Or am I just being GREEDY?
Obama meant it when he said he wanted to “remake” America. I wish we had a second party to oppose the destruction of our way of life.
“$5 billion.”
Let’s ponder that for a moment, shall we? That number is MORE than 50 countries’ ENTIRE GDP for 2008:
To name a few:
Liechtenstein
Mongolia
Tajikistan
Aruba
Zimbabwe
Montenegro
Guinea
Malawi
Rwanda
French Polynesia
Fiji
Barbados
Mauritania
New Caledonia
Kosovo (Yes Kosovo!)
Any self-respecting Senate Republican who would vote for this multi-billion-dollar slush fund in the name of saving the economy needs his or her head
examined.REMOVED.FIX IT.
This just further confirms my conclusion, reached over the past few decades, that the
democratssocialistscommunists and the “entitlement” recipients are nothing more – absolutely nothing more – than a thuggish extortion racket.They demand this, that, and the other thing; and threaten demonstrations, unrest, riots, court action (more extortion – nothing more), etc. if they do not get their way.
Because we still have a relatively stable, functioning society, these parasites can carry on their erosive activities because so many ignorant fools who support them evidently think that everything around us is simply “there”.
They evidently take everything for granted, as no-cost enjoyment: freedom, food, clothing, shelter, “law and order”, roads, air, water, money, video games, medical care, sexual gratification,….
But really, they act as if living in the jungle, in the wild. They see that someone else has worked for, obtained, developed, etc. something good (whatever it is); they become envious, and enraged that this other person, and not they, have whatever it is; and they essentially swoop down upon, raid, attack, and simply take what they want from the other person.
It sure seems that they have never, cannot, and will not work(ed) hard to obtain and develop this “something good” themselves.
I am not talking about folks who now and then might need a bit of help, a “hand up”.
I’m talking about the recipient “wing” of the
government tax-and-spendentitlementextortionindustryracket, who seemingly expect and demand “hand-outs” for most or all of their wants and needs for their entire lives.Hmmm….looking back on ~1400 years of history, this sure sounds an awful lot like the “expansion” of Islam thorugh razzias and conquests…does it not?
Might this help explain why our socialists and Islam (replacing yesterday’s communist “Reds”) seem like soul mates?
Does not the Constitution speak of enemies, foreign and domestic?
(Oops – that was so P. unC.)
Welfare payoffs to thugs pure and simple. We should not negotiate with terrorists. That is and was the policy of the USA during the last Republican Administration.
granite
Your on a roll this morning.
WELL SAID!
Yes. This “stimulus” package is beginning to look like reward money to me, or “Thanks for your support” in the recent election.
The only thing we are missing now is an Obama Tonton Macoutes, STASI, KGB, or a Gestapo to enforce compliance. And apparently, based on his campaign promises and actions to date, this may actually come to pass. It’s beginning to look like the “crazies” who stockpiled arms and supplies over the last 20 years may have forseen something the rest of us sheep did not.
If we had an honest Justice Department, RICO could be brought against them. But since all of our public institutions have been co-opted and compromised, we will never see any action. BTW, any word on the investigations into Rangel, Dodd, Feinstein, Jefferson et al? No? Is that a surprise? Gird your loins for real. We are now servants of the State and we exist at their pleasure.
The truth is I have always lived within my means. I just worked hard to change my “means”. If I could have foreseen the future I would have lived way below my means. I just didn’t know that others were going to not only take it away but vilify me at the same time.
If CNBC does not stop their American Greed series soon I’m going to explode. This so much shows how CNBC is carrying Obama’s water. I have written to them to complain and now watch Fox Business.
Glen Beck discussed the economy and the so called stimulus package this morning on Imus in the Morning.
http://youhavetobethistalltogoonthisride.blogspot.com/2009/01/glen-beck-confides-to-imus-i-cant-ever.html
What YOU said, taylork.
I think most conservatives, snug in the suburbs, have been clueless for decades about the gush of their tax dollars funding the agenda of leftist radicals in urban neighborhoods. If we not only allow their thuggish activities but continued to allow their army of agitators to be funded with public money, then we deserve what we get.
Sadly, most of us conservatives have long been too comfortable and unconcerned. We may well already have reached a political tipping point from which we can never recover. If we are to have ~any~ hope whatsoever, we must not only radically reduce this fraudulent “stimulus” package overall, but we must specifically conduct a jihad — days of rage — against being taxed to support the very leftist agitators who have done so much to bring us to our present economic crisis.
This article should be addressed to John McCain. You just know he will vote for it to get back that MSM Maverick mantle.
Where are OUR leaders?
I hate ACORN. Racial injustice is one thing, but being browbeaten into taking stupid actions by ACORN’s and NACA’s brand of thuggery is outrageous.
Thuggery is thuggery. If people don’t cave in to this kind of behavior, they deserve to get steamrolled.
I e-mailed this article to my Senator (Voinovich in Ohio) hoping he or one of his staffers reads it. I also told him that with two years left on his term (he’s retiring), he might consider using those two years for trying to eliminate ACORN and NACA as scourages on our society.
how else does barry think he can keep the congressional majority if he doesn’t pay a gang of thugs to organize troops of roaming “voters” to change the outcomes of nevada, ohio, pennsylvania, indiana, new mexico, colorado, virginia, florida, tried but failed in missouri, north and south carolina. let’s see if in 2010, he can get normal democrat white voters to break the law by registering in other states and voting there despite living in some solid blue bastion of lunacy like n.y. or california. i’ll bet the looming recession of the taxpaying class while barry subsidizes the nonworking tax recieving class will dampen the enthusiasm. you can only lie to the american people about a “tax cut for 95% of the american people” and then spend their tax money on acorn, parties for his homies, and pork for every left wing agenda ever enunciated.
I haven’t seen that. Is it about rappers and all their bling? That used to be called conspicuous consumption.
With Zerobama in office this will continue with impunity unless a great outcry of outrage (OoO) reverberates around the country. We need a great deal of publicity like Michelle provides.
God Bless You Michelle Malkin.
BUT….
Until Barney Frank and Chris Dodd and SanFran Nan Peloser are confronted and possibly charged with crimes, at least removed from power, this will not just continue, it will destroy the fabric of America for 40 to 50 years.
This IS what the Dems are doing, buying America into socialism led by Pelosi, Reid and Zerobama.
They’re buying 50% of the voters for decades to come.
America is in great danger.
Read about Saul Alinsky and compare what is happening, it should terrify you.
I hope no one actually expected anything different from “O” and his band of Merry Thieves. He and the Dems are doing exactly what they said that they would do should they win. We have at least four more years of this and more before we have the opportunity to remove our new chief executive. In the mean time the question is; What do we do to counterbalance the constant assalt on our country, our collective wealth, and our future? I don’t think our protection will come from the Republican Party, and certainly not from the GOP Senators. Cheer the GOP’s recent united stand in Congress, but don’t count on it meaning much, and don’t expect to see it repeated in the Senate. I think we are in for some difficult years and probably some real disasters. We do have to fight for what we believe in, but don’t expect much help from any of the elected clowns and crooks.
Just think…
Just over 12 weeks ago, Our little Blogger was spending over 50% of her time taking pot-shots at John McCain.
I can only assume that you are congratulating her on a tireless effort to address a never ending stream of fools and clowns bent upon the distruction of a once fine Party and a great Country.
Note the first two words of my comment.
Obama did say he Won, Now everyone who helped him get elected have to be paid back with Tax Payer Money.
What happened to all those open F.B.I. investigations of ACORN? They disappeared because the election is over? I don’t get that? ACORN was incorporated in Lousisana, who in Lousisana can expect some of the Bacon from this Pork Bill?
Marks = Marx.
I can’t be the only one who noticed that.
thejim #26. Excellent post and my thoughts exactly, although I am sure I couldn’t articulate it as well as you did. Use the press to write letters to your paper even if you don’t think they’ll print them on all of these issues. If we all did this, I think some of them would see the light of day.
Babs Streisand’s neighborhood needs some stabilization and I’m just the guy to do it. More over Babe, I’m taking the upper half of your Malibu property…
Thugs…
Government funded thugs…
Using Alinsky rules for leverage to our money…
Cosa Nostra techniques
Cricket chirping loudly at Justice…
What “The One” wants,”The One” gets…
Plenty of evidence for RICO type prosecution on these groups…
crickets…
Nothing to see here folks, just the Democrats changing out their old busted Klan sheets for the new hotness of red armbands and hobnailed jackboots.
Move along… and leave your paycheck with the
thug holding the baseball bat with protruding nailsparty representative.Senate to become officially filibuster proof.
RINO-ish Senator Judd Gregg to be offered Secretary of Commerce, making Senate officially filibuster proof. Original rumor was Olympia Snowe, but she is more unofficially Demonratic than Gregg, so she can continue to be a reliable “bipartisan” vote for whatever Obama wants.
Breaking per al-NYT. Gregg hasn’t accepted officially yet.
Re: #36
When al-Phronkeen gets seated in his stolen Minnesota seat, a single RINO defection killed the filibuster anyway, so Judd Gregg leaving the Senate to allow Demonrat Governor Lynch (whose wife is a “childhood obesity activist, whatever that is) to appoint a Maoist to fill the nominally Republican seat.
only makes the unofficial official.
Sad news.
I weep for my beautiful, once wonderful home state.
A little off topic here: Did you know Obama signed an equal pay bill and all 4 republican women in the senate supported the measure and all 36 male republicans voted against it?
How come the men in the republican party don’t support equal pay for women?
Along with tales of Santa Claus and the Tooth Fairy, we can tell our children and their children about a place they used call the United States of America..
Sorry, but I think Michelle made a mistake. I think she should not have used the word ‘Republican’.
This is the kind of action that needs to be voted against by all members of both houses of congress.
The Acorn series by MM has been excellent.
We all need to remember too that Obama trained these “folks” to be his mini-me’s!
An excellent series appeared in IBD during the lead-up to elections.
This article from the series is appropriate for revisiting how Obama uses his Alinsky tactics.
The recent attack on Rush and his speech about the 18 billion in corporate bonuses yesterday demonstrate that being president now has not tempered his core beliefs, or manipulative tactics in the least.
It is truly disgusting to see this transpiring in our country and so much of it being ignored by the watchdogs in power!
My take on this and practically every other subject that is discussed on this website is this:
We, meaning the people that organize here to express their opinions, day in and day out, are now left wiithout a voice, or a sword, or any means to stop the tide of socialism, progressivism, watermelonism, communism, that has now taken hold of the United States.
I appreciate al that MM has accomplished, and continues to accomplish.
But, in my opinion, the oppostition expressed here has come too late with too little.
The only way to stop the tide that is washing all of us down the tube, is to take up arms.
Please let this be the last message I give to you, and I’m sure I will be banned for expressing my thoughts.
The Lilly Ledbetter Fair Pay Act extends the period an employee can file a claim of discrimination for making less money than another worker doing the same job.
The act will effectively overturn a 2007 Supreme Court decision on the Ledbetter case that said workers had only 180 days to file a pay-discrimination lawsuit.
Under the new bill every new discriminatory paycheck extends the statute of limitation for a second 180 days.
Here’s the link:
http://www.foxnews.com/politics/first100days/2009/01/29/obama-signs-equal-pay/
An extension from 180 days to 360 days.
Wow.
What an empty, foolish statement.
Double wow.
Not all that different from trying to say that the presence of a statute of limitations on certain crimes means that lawmakers do not support the prosecution of lawbreakers.
Our “education” system is worse broken than even I had thought.
I’ll bet it is something in the details. Maybe something like receptionists with high school educations working in comfortable offices should make as much as construction workers and oil field rough-necks, or some such.
3 of the 4 woman, Murkowski, Snowe and Collins are essentially Democrats (Murkowski a corrupt Democrat appointed by her corrupt Republican father), and Kay Barely Hutchison is a country club Republican.
Now, you don’t love your country, admit it. If you support Democrats, you either support Marxist-Leninism, or you’re stupid.
At best, you love some utopian vision of a Union of Soviet Socialist States, and somehow believe that unlike the Khmer Rouge and Castro and the Soviets and North Koreans our own “Dear Leader” will be a benign and caring dictator.
Huh. So you’re calling Arlen Specter a woman?
Yes, you like the title, don’t you? Makes it nice and simple for the talking points that completely evade the specifics of the bill.
Obama giving back big time to his core consituency.
What happens to these entitlement recipients when a new president comes in in 4 years?
In the meantime Vegas will see an uptick in travel from the cities on the list above.
On January 30th, 2009 at 1:01 pm, Ilovemycountry said:
Oh, you sooo make your living leaching off of others.
ACORN is a fifth column in this country, worse than anything Ayers ever did. They are the enemy within, particularly given their role in the current economic debacle, and the voting fraud perpetrated by them and supported by the Obama campaign (over $800k during the election).
Now it is payback time. All we are going to have left is change….
Remember the story about how Obama’s female staff was underpaid in comparison to his male staff for the same jobs. And how McCain overpaid his female staff?
See http://blogs.abcnews.com/politicalpunch/2008/09/is-mccains-sena.html
Here is the money sentence:
What about that, Ilovemycountry?
Because we don’t mind them earning more than we do.
I would have voted against it too. Why should women be kept from earning more then men? Of course, if I were the CEO of a major corporation I would love this. The first thing I would do is bust the top paying women, who earn more then men, down to what the least paid man is earning.
Are you taking notes or is your hate for anything Republican blinding you to the obvious – once again?
Aloha Guy: #52: Great response to that putz, ILMC. Couldn’t form a response to you or Dimsdale. No wonder he loves Obomba.
Nancy Pelosi is bi partisan has the definition for Bi Partisan changed?
http://thecaucus.blogs.nytimes.com/2009/01/29/partisan-barbs-follow-house-stimulus-vote/
Obama just paid off lawyers on this Ledbetter debacle. It has little to do with actual pay equity.
I wonder if he is going to give back pay to all of the women staffer that he shorted?
Welcome to “Hope and Change”, compliments of our “Kenyan Bastard in Chief”, Barry Sotero, or is it Barak Obama?
No one should support this crap legislation. Just more discrimination legislated by the lowest form of scum -suckers in the USA…bought and paid for corruptocrats sucking away at our American values. Reward the lazy and incompetent because they are female, and or black, or some other minority not associated with the evil majority white race that inhabits this once great land.
All you race and gender baiters can go straight to hell.
The new work-fare program: everyone works for ACORN and gets a check from the gov for shaking down the rest of the American population. No wonder Jessie Jackson was upset about Obama. HE knew he’d be left out of the shake-down payment plan.
No..no..no…Obama signed a bill that extends the time frame for filing a law suit re: equal pay…that’s ALL he did. You must be dumber than an uneducated forklift driver!
What strikes me about this news blurb on the new Gang of 14 is that lawyers and politicians actually talk about “creating jobs” without bursting out in laughter! What in the he** do these nimrods know about jobs and how they are created? What, you throw cash on the ground and expect Chevys to spontaneously generate? How about making a life-sized cardboard cutout of Barak Obama and then proclaiming that you just created life? What complete dithering morons! Do they have the slightest notion of how a business or an economy operates? This whole fiasco can’t get any more bizarre.
Our “leaders” have a first grader’s notion of how businesses and economies work. I would sooner allow them to perform brain surgery than propose a fix for the economy. I wish we could put them in a coma until the next election cycle. They would wake up to a healthy economy.
heck, put me in a coma!
I hope to God our senators can stop this thing. If not, we are lost.
I’m shocked lgm hasn’t popped in to say (over and over again) that fraudulent voter registrations never actually turned into fraudulent votes!
Acorn registered 1.3 milion voters in 2008 alone, mostly the young and disadvantaged (from their own press release), most of those in swing states. As of this fall, Acorn was under investigation for fraudulent voter registration in 12 states. There have been some CONVICTIONS of Acorn employees and I expect there will be more. Yet, Acorn claims plausible deniablity by saying those doing the registrations were rogue employees. Rogues paid with taxpayer dollars.
Read Michelle’s previous posts, they are very good in spite of what lgm says about them. Acorn shouuld be PROSECUTED as a RACKET, NOT rewarded with our money.
There, fixed it for both of you.
Concerning the topic, there is nothing like adding fuel to the fire that is tanking the economy to begin with.
Brilliant strategy, just brilliant.
Have to agree with happy2behere #65
Obama has empowered people with the power of numbers- but, others are deciding how to use the mob rule, he has just enlisted the soldiers.
Using other peoples money and these people(being used as pawns) to satisfy his priorities.
Intimidating banks, or local leaders to get what you want -is not exactly the American way, but it is the gangster way!
Defenders of ACORN and Obama on this issue are probably beyond help.
At some point true working and freedom loving Americans will have to form counter organizations, or let the toughest thug groups dictate to us all.
We need to watch carefully who Acorn is, (including their many offshoots) and whom they target. Once we see who is being attacked we need to be there to counter these efforts.
BTW- I am not talking about taking up arms like some here have suggested- I am talking about awareness and shedding light on each and every transgression as MM does, and exposing the strong arm tactics.
This is also a machine built to violate civil rights so expect to see people fighting in court also!
In the mean time- tell your legislators – we see all they money channels leading straight to Obama/Soros controlled groups, and we demand all of that funding be nixed right now!
The pen is always mightier than the sword in the long run!
I haven’t seen anyone ask this question yet…
What are the names of the individual Democrat Representatives who are inserting these obscene schemes into the spending/stimulus bill?
It seems to me, that shining a light on the cockroaches might do some good in the long run. I know it will help in future election cycles if conservatives use the information to refute the inevitable finger pointing by the Democrats.
Keep the ammunition coming Michelle. Information like this was a great help in getting the point across to our Congress critters in Idaho voting on crap sandwich 3.0 and maybe it will get the attention of our Senators too. The fascist tactics of ACORN and other community extortion rackets need to be exposed whenever possible. Thanks again for shedding light on the nefarious activities of Democrats and their minions against responsible hardworking taxpaying home owners that have strived to live within their means.
ΜΟΛΩΝ ΛΑΒE (mo-lone lah-veh) Translation: Come and take them!
Wheres the MSM on this? They (MSM ) are the problem! If they see a rebup picking his nose its on the nightly news with calls for there head. If a Dem gets cought sealing, cheating on taxs there answer is whats the problem
Obama guts defense while spending trillions on pork
HAHAHAhaha – Now Daschle has filed ammended returns to report 128,203 in back taxes and 11,964 in interest and penalties.
No wonder Democrats love taxes so much… they simply don’t pay them.
Soros must be tired of funding all these wacko groups.
With the kind of scratch they will be getting from this GTA, there will be an army of little Soro’s all over the country funding all kinds of anti-American activity.
I moved up to a nicer home at the absolute wrong time, at the beginning of the housing crash – and was unable to sell my other one for a year and half. Although it took a significant hit to my finances, and since I didnt buy beyond my means, I honored my financial obligations.
Once I finally sold my other house, at a loss after foreclosures drove down my home’s value, I applied to my own mortgage company, Wells Fargo, to refinance to the current lower rates. Despite an over 900 FICO score, no other debt, and perfect credit, my own mortgage company told me last week they won’t even consider lowering or refinancing my 6.8% interest rate, unless I have missed at least 3 payments or am in default or in danger of foreclosure. Two other places said essentially the same thing.
Yes, I made a huge mistake buying a home before selling first, and cost me a lot.
But if I was someone who bought a home I had no business buying because I couldn’t afford it, or failed to live within my means, or made irresponsible financial decisions, my bank will actually do more for me by lowering my interest rate or some government program could bail me out, or at least subsidize my irresponsibility?
Had I just let one of my homes default, I wouldnt be out the extra cash from maintaining two homes, and wouldnt have had to pay $7K out of pocket to help the barely-qualifying buyers with the surprise extra closing costs resulting from their type of financing.
My good credit is now basically worthless-except to my conscience and character.
So now the norm will be that those who have no buisness being homeowners will actually receive preferential treatment, while my bank basically tells me – thanks for making your payments on time and in full – sucker?
I had to rant.
On January 30th, 2009 at 1:01 pm, Ilovemycountry said:
Probably for the same reason the Democrats refused to select a woman (one Hillary R Clinton) as their presidential nominee – equivocation works both ways, ILC.
Well, it costs money to recruit and train brown shirts.