Quote:
Originally Posted by Cynthetiq
FWIW, I want the average guy to lose his house if the average guy bought it with an interest only or ARM loan. Screw him for signing a marker that he couldn't cover. Just like I wanted gas to go up to get those casual SUV drivers. You play you pay. It's that simple.
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I love this quote. So you are willing to destroy the entire housing market, a few banks, send an entire industry down the tubes along with 1000's of jobs. Have the Federal government pay BILLIONS possibly even a TRILLION or 2 to bail out Fannie Mae and Freddie Mac, truly test the FDIC, {who by the way has 99 years to give you you insured money back}. All this, just to teach some people a lesson. How noble of you.
Then, lets punish the people who have to drive to work, let's destroy the trucking industry, let's truly push inflation, let's really rip apart the rest of the economy by pumping those gas prices higher to teach those wealthy bastards who drive Hummers a lesson. Sure, the poor slob and his family barely making it now goes bankrupt in the process, but those SUV drivers will suffer a little bit. How very humanitarian you are.
BTW, no Loquiter I am not against people making as much as they can. I am against CEOs and upper managements taking huge salaries and benefits while their workers make wages that barely allow them to live. I am against watching CEOs and Boards of Directors outsource jobs, lay off 100's, and post huge losses while they pad themselves with higher salaries and bigger benefits. I believe those people should enjoy windfalls only when the companies that employ them do and suffer losses when the companies that employ them suffer losses.
Thank you Robot Parade and FLSTF for great posts. Robot, I must say that your post is one of the best I have read in a very long, long time.