As usual, I see your side and agree Craig. However, I don't discount the responsibility of the individuals that signed the papers knowing they couldn't afford what they were getting. If they didn't know, they should have. I have made mistakes in the past and have paid for them dearly in some cases. It frustrates me that I'm expected to pay for others as well.
The banks and financial institutions are also at fault for creative schemes gone wrong. I'm talking about Credit Default Swaps and convoluted derivatives in general. Bundling mortgages and passing them off to unsuspecting investors, while apparently legal, is certainly unethical and our SEC should have taken better care of the publics interest. It's supposed to be why they exist. But, surprise, surprise! The government is incompetent. I'm shocked. And appalled. Someone made the point that we are government. There is some merit to this which is why I support less government. Less to go wrong. dj On Tue, Mar 3, 2009 at 12:06 PM, Kierkecraig <[email protected]> wrote: > > Same thing I said to Slip, I say to you gruff. This isn't the banks > fault. They would never have done that. It doesn't make financial > sense to do that. The government did what you are complaining of. > Such an atrocity would never have happened in a truly free market. > > On Mar 3, 8:28 am, gruff <[email protected]> wrote: >> We could always start with the real estate agents who, once the dogs >> of finance were unleashed, told any lie they could get away with to >> entice undeserving and under-earning people who couldn't afford a pot >> to piss in to buy a six figure home on the promise of a quick buck in >> a year or two when the 10% return on investment provided them with a >> five figure profit. >> >> I just wonder when (and if) the powers that be are going to go after >> those who reaped these unwarranted profits and got out before the >> crash. >> >> On Mar 2, 9:27 pm, Slip Disc <[email protected]> wrote: >> >> > I apologize for the belated welcome but nevertheless, Welcome! >> > What you have to understand, wood, is that many people have not the >> > slightest idea of financial calculation and are "told" by financial >> > experts that they "can" afford the house, the car, the credit card. >> > We cannot blame the people alone but more so the financial >> > institutions that have taken advantage of those who cannot perceive >> > their own financial worth and capability of repayment. The US >> > unfortunately is full of sharks that have taken control of government, >> > taken control of the poor situations in which people live. >> > Who of you out there would not want to have a better home, car, and >> > other amenities in life? >> > What is happening now is an "Atrocity" perpetrated by the wealthy in >> > control of the government. >> >> > On Mar 2, 8:02 pm, wood <[email protected]> wrote: >> >> > > As much as I would love to blame, the government for this mess, but >> > > the government is not entirely to blame—The problem is closer to home. >> > > People only have themselves to blame for putting themselves into >> > > situation they could have avoid only if they were mentally stronger, >> > > and not be blinded by false dreams and value. In trying to live the >> > > “American dreams” people makes premature decision; buying house they >> > > know they cannot afford, cars they can’t maintain… All for what? >> > > People need to change their outlook on life and stop falling victim to >> > > mind imprisonment. In the drive to establish independency and >> > > individuality, everyone has become the same. >> >> > > On Feb 26, 4:17 pm, ornamentalmind <[email protected]> wrote: >> >> > > > "... Now our government is trying to keep deadbeats in houses they >> > > > can't afford and shouldn't have gotten loans for in the first place. >> > > > It's asinine." - DJ >> >> > > > What is even more 'asinine' and is not being talked about at ALL in >> > > > any media is that those of us who don't even own a house, whether we >> > > > could afford one or not ...and rent or...whatever, live on the street, >> > > > at parent's home etc. are among those who are PAYING the banks to help >> > > > keep people in homes! It's not even asinine, it is criminal! >> >> > > > On Feb 26, 2:42 pm, Don Johnson <[email protected]> wrote: >> >> > > > > Government is the problem because they manage the tax code. It's so >> > > > > confusing the guy hired to be in charge of it can't figure out how to >> > > > > pay his taxes. Let's make it easy. How about a flat tax on all >> > > > > income and consumption? Without the loopholes that are so abundant >> > > > > for the extremely wealthy to avoid taxes. I love the idea. Of >> > > > > course, this would eliminate Congress's major power of >> > > > > reward/punishment ability so it will never happen. The >> > > > > bribes...oops, >> > > > > I mean campaign donations... would dry up. >> >> > > > > dj >> >> > > > > On Wed, Feb 25, 2009 at 12:45 PM, ornamentalmind >> >> > > > > <[email protected]> wrote: >> >> > > > > > Yes, it is fran. Today many who pay a lot in taxes, not percentage >> > > > > > wise, but in amount based on a large income don't mind at all. >> > > > > > Only a >> > > > > > select vocal few are heard in the media to the point that such >> > > > > > propaganda about the government being the problem (Ronnie)....has >> > > > > > become a common myth. I've said it many times...when I was a kid, >> > > > > > my >> > > > > > father paid 91% of his income in taxes...and, we did VERY >> > > > > > well....no >> > > > > > complaints. Today, in most cases, the poor pay a higher percentage >> > > > > > of >> > > > > > their income in taxes than the rich. Robin Hood aside, this is >> > > > > > absurd >> > > > > > no matter the argument. >> >> > > > > > On Feb 25, 9:28 am, frantheman <[email protected]> wrote: >> > > > > >> Don's - of course - purely rhetorical suggestion about the >> > > > > >> non-payment >> > > > > >> of taxes seems to echo a certain US American mythology that >> > > > > >> there's >> > > > > >> something un-american about paying taxes, as well as there being >> > > > > >> something inherently suspect about (central) government. >> >> > > > > >> Nobody likes paying taxes and very few would even consider paying >> > > > > >> more >> > > > > >> than they absolutely have to - including me. But I must also >> > > > > >> acknowledge that taxation is the basic method for paying for >> > > > > >> things >> > > > > >> which a country/community/society feels need to be organised >> > > > > >> collectively. It belongs to the basic ideas of self-definition of >> > > > > >> a >> > > > > >> country/community/society to decide what these collective tasks >> > > > > >> are >> > > > > >> and how far they should be funded by the common purse. >> >> > > > > >> Even as a non-US American, I seem to remember that the rallying >> > > > > >> cry >> > > > > >> for the American Revolution was not, "No taxation," but rather "No >> > > > > >> taxation without representation." The USA established itself on >> > > > > >> this >> > > > > >> basis as a representative democracy. Everything else flows from >> > > > > >> that. >> > > > > >> To use the language of 18th Century political thinkers, that's the >> > > > > >> basic social contract and there's no way to opt out of it and >> > > > > >> back to >> > > > > >> the "state of nature." As far as I recall, the US fought a rather >> > > > > >> spectacular civil war about that very issue. Those who wanted the >> > > > > >> right to opt out lost. >> >> > > > > >> None of this, of course, addresses problems of injustice within >> > > > > >> particular taxation systems. But, strictly seen, that's what has >> > > > > >> to be >> > > > > >> sorted out within the representative democracy framework. Or, if >> > > > > >> your >> > > > > >> conscientious objections lead you to refuse, then you must accept >> > > > > >> the >> > > > > >> consequences. In my opinion, that's the kind of bravery Orn is >> > > > > >> talking >> > > > > >> about. >> >> > > > > >> Francis >> >> > > > > >> On 25 Feb., 16:50, ornamentalmind <[email protected]> >> > > > > >> wrote: >> >> > > > > >> > First, since the US stopped being serious about tariffs, taxes >> > > > > >> > are >> > > > > >> > needed for the common good. The IRS has been under-funded for >> > > > > >> > years >> > > > > >> > and the result(s) is they only go after those accounts that >> > > > > >> > will be >> > > > > >> > easy to collect. read: the accounts of the >> > > > > >> > non-powerful/non-rich. >> > > > > >> > Our founding fathers not only decided not to continue to pay >> > > > > >> > their >> > > > > >> > taxes, but they took action that would have resulted in their >> > > > > >> > death if >> > > > > >> > caught. Almost to a man, they died in poverty. Few today are as >> > > > > >> > brave. >> >> > > > > >> > On Feb 24, 6:41 pm, Slip Disc <[email protected]> wrote: >> >> > > > > >> > > Sure, the Duty of Civil Disobedience, good ole Thoreau. >> > > > > >> > > Truthfully, >> > > > > >> > > they already have the tax money, now it's people filing >> > > > > >> > > returns hoping >> > > > > >> > > to get something back from the forced prepay plan. You can't >> > > > > >> > > get a >> > > > > >> > > job at any corporation if you tell them you will pay your own >> > > > > >> > > taxes >> > > > > >> > > from a 1099. The IRS spends hundreds of thousands on paper >> > > > > >> > > alone plus >> > > > > >> > > millions on salaried collectors and yes men. >> >> > > > > >> > > On Feb 24, 7:05 pm, Don Johnson <[email protected]> wrote: >> >> > > > > >> > > > I'm against rioting in the streets but I'm all for civil >> > > > > >> > > > disobedience. >> > > > > >> > > > If we en mass refused to pay federal taxes for last year I >> > > > > >> > > > think we >> > > > > >> > > > might get Washington's attention. Start simply by applying >> > > > > >> > > > for >> > > > > >> > > > extensions and taking every legal route to delay paying >> > > > > >> > > > right up until >> > > > > >> > > > the court order to pay and then just quietly say "No." >> >> > > > > >> > > > Whatta ya say gang? Who's with me? >> >> > > > > >> > > > dj >> >> > > > > >> > > > Disclaimer: Above suggestion is purely rhetorical and I >> > > > > >> > > > have no >> > > > > >> > > > intention of disobeying the law or avoiding my fiscal >> > > > > >> > > > obligation to my >> > > > > >> > > > country. Nor am I aware of any group planning to do so. >> > > > > >> > > > All Hail >> > > > > >> > > > Obama! His truth is shining on. >> >> > > > > >> > > > On Tue, Feb 24, 2009 at 6:43 PM, Slip Disc >> > > > > >> > > > <[email protected]> wrote: >> >> > > > > >> > > > > That's what we need to happen gruff, then the world will >> > > > > >> > > > > realize that >> > > > > >> > > > > we never really did need the bashstards (scot accent) and >> > > > > >> > > > > that we can >> > > > > >> > > > > "Grow Food" without them. Banks are a system for the >> > > > > >> > > > > wealthy and that >> > > > > >> > > > > is why they are giving billions of dollars to the >> > > > > >> > > > > unscrupulous creeps >> > > > > >> > > > > that are throwing people out on the street instead of >> > > > > >> > > > > giving the money >> > > > > >> > > > > to the people who really need it. It's protectionism for >> > > > > >> > > > > society's >> > > > > >> > > > > elite. Are the banks lowering interest rates and >> > > > > >> > > > > refinancing? NO!! >> > > > > >> > > > > Illinois based Northern Trust just took $1.6 Billion >> > > > > >> > > > > dollars from the >> > > > > >> > > > > tax payers and went on a vacation jaunt in Southern >> > > > > >> > > > > California and >> > > > > >> > > > > hired the Band Chicago for $100,000, this all with Tax >> > > > > >> > > > > Payer Money. >> > > > > >> > > > > These people are spitting on us. Tax breaks that are >> > > > > >> > > > > going to give a >> > > > > >> > > > > family an extra $65 a month is pathetic. $600 to $1200 >> > > > > >> > > > > per family >> > > > > >> > > > > stimulus money is pathetic. They should give everyone >> > > > > >> > > > > $100,000 to >> > > > > >> > > > > stimulate the economy, but you see it's the economy of >> > > > > >> > > > > the rich that >> > > > > >> > > > > they want to stimulate. There will be rioting in the >> > > > > >> > > > > streets even if >> > > > > >> > > > > the banks don't collapse because people are starting to >> > > > > >> > > > > realize what >> > > > > >> > > > > Schleps they are and how tied into the >> >> ... >> >> read more » > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. 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