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View Full Version : Biggest Mortgage Defaulters? The Rich!



Gayle in MD
08-23-2010, 09:07 PM
http://www.nytimes.com/2010/07/09/business/economy/09rich.html

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Though it is hard to prove, the CoreLogic data suggest that many of the well-to-do are purposely dumping their financially draining properties, just as they would any sour investment.

“The rich are different: they are more ruthless,” said Sam Khater, CoreLogic’s senior economist.

</div></div>

Gee, I guess maybe they bought too many flat screen TV's? /forums/images/%%GRAEMLIN_URL%%/grin.gif

pooltchr
08-24-2010, 06:34 AM
Your thread title suggests a fact, but when we look at the link, we find out they really can't prove it, and this is just someone's opinion.

Somewhat misleading, don't you think?

Steve

Sev
08-24-2010, 06:40 AM
Broke at any level is still broke.

The last of the ARM's come due this fall. Wait for it I tell you.

Chopstick
08-24-2010, 12:43 PM
Actually, it is corporations. It is called strategic default.

Gayle in MD
08-24-2010, 01:15 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body">Actually, it is corporations. It is called strategic default. </div></div>

Actually, the article addresses home mortgage defaults, Chop.

G&gt;

Chopstick
08-24-2010, 02:00 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body">Actually, it is corporations. It is called strategic default. </div></div>

Actually, the article addresses home mortgage defaults, Chop.

G&gt; </div></div>

That does not change the fact that the largest defaulters on property of any kind are corporations. That is where the whole concept of strategic default started. If it could have been stopped there it would not have spread to the degree that it has.

I have a tendency to look past issues at hand and go to where I believe the core issue is. I can understand why this makes me appear out of context at times.

Once it became an acceptable business practice, people just brought it home from work and it spread like wildfire.

eg8r
08-24-2010, 02:00 PM
It is still "strategic default" and I honestly do not agree with it. Maybe it is a moral issue with me, but just because you are now "under" on your loan, you should not be allowed to walk away. I have a few friends who are doing it right now and it ticks me off to no end.

eg8r

LWW
08-24-2010, 04:07 PM
I agree with you ... but from a strictly legal POV, only a moron pays their debts in the USSA.

LWW

bobroberts
08-24-2010, 04:33 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">It is still "strategic default" and I honestly do not agree with it. Maybe it is a moral issue with me, but just because you are now "under" on your loan, you should not be allowed to walk away. I have a few friends who are doing it right now and it ticks me off to no end.

eg8r </div></div>
And how do you suppose to make them keep paying these loans?

Gayle in MD
08-25-2010, 07:49 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body">Actually, it is corporations. It is called strategic default. </div></div>

Actually, the article addresses home mortgage defaults, Chop.

G&gt; </div></div>

That does not change the fact that the largest defaulters on property of any kind are corporations. That is where the whole concept of strategic default started. If it could have been stopped there it would not have spread to the degree that it has.

I have a tendency to look past issues at hand and go to where I believe the core issue is. I can understand why this makes me appear out of context at times.

Once it became an acceptable business practice, people just brought it home from work and it spread like wildfire. </div></div>

That's fine. I am just addressing the major points of the information in the article. I am well aware what corporate pigs have done to us, some of them involved in the Wall St. Ponzi scheme, while having no conscience at all about walking out of their promises to pay off their own debts, while the reast of us had to pick up the tabe for all of their irresponsible behavior. I'm just tired of listenning to other people plame the whole thing on the poor and the Middle class, but thanks for adding the corporate pigs to the discussion.

G.

pooltchr
08-25-2010, 08:43 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">[ I'm just tired of listenning to other people plame the whole thing on the poor and the Middle class, G. </div></div>

How close are the letters "B" and "P" to each other on the keyboard?????

/forums/images/%%GRAEMLIN_URL%%/grin.gif

Steve

Deeman3
08-25-2010, 10:11 AM
I gues this means the rich really need those tax breaks that are wbout to expire, right? /forums/images/%%GRAEMLIN_URL%%/smile.gif

pooltchr
08-25-2010, 11:11 AM
You know you can't separate the "rich" taxpayers from the majority of small business owners. So by giving tax breaks to the "rich" we are encouraging the growth of business in this country, which translates into some much needed jobs for Americans. If we continue to increase the tax burden on business, we do nothing but slow any economic recovery.

Agree?

Steve

eg8r
08-25-2010, 12:13 PM
I did not propose making them do anything.

eg8r

Deeman3
08-25-2010, 12:55 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">You know you can't separate the "rich" taxpayers from the majority of small business owners. So by giving tax breaks to the "rich" we are encouraging the growth of business in this country, which translates into some much needed jobs for Americans. If we continue to increase the tax burden on business, we do nothing but slow any economic recovery.

Agree?

Steve </div></div>

<span style="color: #FF0000"> Yes, I think we are seeing many examples of that now. Perhaps it is the plan. NO jobs, except Washington and soon everyone will have to ask the government for enything they need. You know, that great dependent relationship?</span>

Qtec
08-25-2010, 07:59 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">It is still "strategic default" and I honestly do not agree with it. Maybe it is a moral issue with me, but just because you are now "under" on your loan, you should not be allowed to walk away. I have a few friends who are doing it right now <u>and it ticks me off to no end.</u>

eg8r </div></div>

Why? Its Capitalism. Are you a Commie?

Q

Stretch
08-25-2010, 09:06 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">It is still "strategic default" and I honestly do not agree with it. Maybe it is a moral issue with me, but just because you are now "under" on your loan, you should not be allowed to walk away. I have a few friends who are doing it right now <u>and it ticks me off to no end.</u>

eg8r </div></div>

Why? Its Capitalism. Are you a Commie?

Q
</div></div>

How can you operate a Capitolistic sociaty which lives or dies on the consumers ability to spend their money on goods and services by shiping all their jobs overseas, gutting the middle and lower class who typicaly do all the spending. It's like suicide. St.

pooltchr
08-25-2010, 09:34 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Stretch</div><div class="ubbcode-body">
How can you operate a Capitolistic sociaty which lives or dies on the consumers ability to spend their money on goods and services by shiping all their jobs overseas, gutting the middle and lower class who typicaly do all the spending. It's like suicide. St. </div></div>

Exactly! So if Obama really wants to save jobs, he would create a business friendly environment that would encourage businesses to grow and or relocate operations here.

Raising taxes, and adding more regulations on business has just the opposite effect.

How many of those jobs that have moved overseas might still be here, had our government not made it too difficult and too expensive to operate here??

Steve

Gayle in MD
08-26-2010, 12:47 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Stretch</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body">It is still "strategic default" and I honestly do not agree with it. Maybe it is a moral issue with me, but just because you are now "under" on your loan, you should not be allowed to walk away. I have a few friends who are doing it right now <u>and it ticks me off to no end.</u>

eg8r </div></div>

Why? Its Capitalism. Are you a Commie?

Q
</div></div>

How can you operate a Capitolistic sociaty which lives or dies on the consumers ability to spend their money on goods and services by shiping all their jobs overseas, gutting the middle and lower class who typicaly do all the spending. It's like suicide. St. </div></div>

Personally, IMO, greed is the core of the economic problems. If a corporation doesn't care about sticking it to the country, the and has no patrioticc concerns about what their outsourcing is doing to our Middle Class Workers, government regulations don't have a damn thing to do with their greedy decisions.

We have no business subsidizing these pigs, IMO.

They are screwing the country every way they can, and nothing counts at all to them but their bottom line.

I get fed up with all the BS about "poor corps, with all those regulations." Take a look at the gulf. From t,he gulf, to a damned egg, the corps have no sense of conscience about how they operate, at all.

What society, free market or not, can survive without a Middle Class, and small businesses. SCREW the top 2%. They've been the worst offenders for decades, on many levels, from tax evasion, to trashing the environment, making people ill, and paying others to lie, or pull strings so they can basically crap all over everything, and everyone, with no limits at all, including the amount they can use to bribe whomever they need to, in order to create even more damages, thanks to the corrupt SC decision.





Dirty air, food, water, and it's.... oh the poor corps. Disgusting to me, pure greed, and no conscience. Let the same top 2 take a hit, they deserve to take one, since the are the ones who have been bilking everyone else, and laughing all the way to the bank.

G.

pooltchr
08-26-2010, 06:23 AM
Stop and consider for just one minute, that if our government shares your views on corporations (screw 'em), is it any wonder that so many of them have moved overseas?????????????

Steve

Stretch
08-26-2010, 07:11 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">Stop and consider for just one minute, that if our government shares your views on corporations (screw 'em), is it any wonder that so many of them have moved overseas?????????????

Steve </div></div>

They move overseas to take advantage of cheap labour and non excisting environmental laws ie. cheap operating costs. If they choose to do this then their goods and services sold here at home should be subject to a huge offsetting tariff. At least then it would be a level playing field for the homegrown and local buisnes who try to compete with them. Right now it is not fare and they are killing us. The only alternative is to work 7 days a week at 5 dollars a day. I'm sure they would love that and come back home. St.

Gayle in MD
08-26-2010, 08:17 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Stretch</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">Stop and consider for just one minute, that if our government shares your views on corporations (screw 'em), is it any wonder that so many of them have moved overseas?????????????

Steve </div></div>

They move overseas to take advantage of cheap labour and non excisting environmental laws ie. cheap operating costs. If they choose to do this then their goods and services sold here at home should be subject to a huge offsetting tariff. At least then it would be a level playing field for the homegrown and local buisnes who try to compete with them. Right now it is not fare and they are killing us. The only alternative is to work 7 days a week at 5 dollars a day. I'm sure they would love that and come back home. St. </div></div>

Repubs are all for cutting taxes, deregulation for corrupt Corps, subsidizing corrupt corps which use their vast profits and power to continue waging expensive wars, feeding the military industrial complex, selling dangerous weapons to enemies, putting former corp. lobbyists in charge of regulatory agencies who are political cronies, former lobbyists, and pawns for corps., to set environmental standard, supporting the propaganda and lies of corps like the tobacco industry, and the fosile fuels industries, and using intimidation and slander against those who have the courage to blow the whistle and go against Republican lies and corruption, of the worst of the worst, as they block the scientific facts of our own scientific studies, paying their own scientists to lie for them, blocking information from the public about all of the dangers to the pulic at large, uncovered by Scientific studies we all pay for which prove the increasing dangers resulting from burning dirty fuels, or poisoning our water, air and food, torturing and using extrordinary Rendition against POW', attacking whole groups of Americans who don't fit into their exclusionary Neanderthal version of the Bible, and the Constitution, against feeding hungry children, supporting our troops and their families, protecting our planet, supporting the equal but separate laws of our land and Constitution, but always supportive of pre-emptive wars without exhausting diplomacy, propping up dangerous evil dictators, speading arms and dangerous weapons around the world, giving Amnesty with no strings attached to illegal aliens, (RR) deep sixing information about their own corrupt party members, (Delay, Gingrich, Bush, Cheney, Rove, Libby, Wolfowitz, Reagan, to name just a very few) support using signing statements to ignore Congressional laws, selling arms to our enemies, spreading hate and threats, instead of building strategic relationships, ignoriong real threats, while using lies in order to pick and choose un-necessary wars to financially benefit their corporate cronies, supporting dangerous rhetoric and the lies which dangerously divide our country, turn Americans against one another, allowing dangerous to festor and grow, without taking a stand against dangerous lies and slander, instead of speaking out against lies slander and propaganda, always all for encouraging gun violence, and supporting racism, for political purposes, I could continue with these facts for days.

Republican policies have destroyed the entire purpose of Government.

The repulse me. They have destroyed my country. n They have no honor, and they have no solutions. The only things in which they excel, are lies, slander, spreading hate, fear, allowing corruption, spreading propaganda, spending money, growing govenment, protecting crooks, trashing the planet, committing treason, screwing up the economy, offending people around the world, and fomenting wars and corruption.

G.

eg8r
08-26-2010, 08:32 AM
Why would it make me a commie to be upset? In that post you made about giving me a smackdown, fess up you really suck at it. Go back to being the copy/paste whore gig because at this point your brain is unwilling to work.

eg8r

eg8r
08-26-2010, 08:34 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">How can you operate a Capitolistic sociaty which lives or dies on the consumers ability to spend their money on goods and services by shiping all their jobs overseas, gutting the middle and lower class who typicaly do all the spending. It's like suicide. St.</div></div>How can you expect to bring the jobs back to the US by raising taxes?

eg8r

eg8r
08-26-2010, 08:36 AM
It is the long nails. Leave her alone. /forums/images/%%GRAEMLIN_URL%%/smile.gif

eg8r