HOBB Community

Leave it to the government to bail out the ones who started the downward spiral in our country, the economy and leave so many victimized. Bail out the homeowners not the companies  and corporations involved.
If you are so inclined join in with other victims and let your voice be heard.


http://stopforeclosuresandevictions.org/

There was an article in the NYT yesterday on Toll Brothers begging for a bailout.  the author nailed him right.  Also reader comments are almost all against a bailout and have the builder pegged.  I tried to post this link as a new topic but keep getting an error msg.  http://norris.blogs.nytimes.com/2008/11/11/tolls-plea-subsidize-house-prices/#comment-19835

I've had to put a lot of focus on Capital One lately. In doing so I happened to read the company president's message to somebody, maybe investors? She wrote that Capital One will be getting 3.5 billion in the bail out funds, but they actually didn't need any bail out funds.

They're jacking people's interest rates for no real reason, other than because they can right now. It's not like you can get a home equity loan, or any other decent rate loan, to pay off bad credit card debt in a pinch. And so they're planning to use taxpayer funds which will undoubtedly mean more rip-offs for consumers, because they operate in states that have little or meaningless regulation.

How a bank president can say with a straight face, we're taking 3.5 billion taxpayer dollars we don't even need because their industry just naturally helps consumers? Don’t you normally have to be on crack to say something that stupid in these times?

I don’t think there is a such thing as a good for consumers credit card company in America. If anything, they and their banking buddies are destroying Americans falling on hard times, and yet we're still giving them more money so in essence banks can still regulate our economy by creating what, more bad debt? I mean, what are they going to do different that makes them an automatically good investment to taxpayers?

Sure it's legal free enterprise when you can nail people with defective homes, rip-off ARMs, junk fees all over the industry, overpriced housing while on the top of the bubble, and still now they are shamelessly willing to gouge people to financial oblivion with a myriad of banking profit schemes. Can anyone still say that letting this industry just have its way works best in the end? Is their no middle ground between state controlled business and just admitting there is a blatantly obvious lack of regulation?   

Unbridled greed is what sunk the industry. We are a nation of laws because we recognize that letting every person have absolute freedom, is not freedom for every person. Just because you're a big business doesn't mean you're going to operate as Infallible people. Giving companies bail out funds to continue the same policies that have clearly caused harm to the economy and consumer interests isn't really a bail out; it's another level of rip-off. I know there is legitimate need for some bail outs, but this is already looking like a disastrous effort to fix a disaster.

The builders are now whining for a $250 billion bailout just for themselves.  What's funny is that there was a letter from a builder in VA who wrote to the editor of a paper and called the auto industry "whiners" and claimed his industry was not asking for money.  LOL, I guess he doesn't read the news very much, not even his NAHB newsletter or whatever.

http://fredericksburg.com/News/FLS/2008/112008/11262008/427452 Builder's letter, "Others aren't crying like the auto industry"  Builder's name is Mike Feinman.

Home builders make plea for federal aid: http://online.wsj.com/article/SB122748520112251743.html

 :D

If you have a minute go to the implode forum on shoddy construction. One of the posters. stating s/he knew the families signing would end up loosing the house "just because" they were aware of the income. When asked if they did anything to advise the consumers the answers became nothing less then defensive.
One poster, I would suspect an employee of a builder shot off an  answer that made no sense to me.
It is amazing these people are in selective denial like they have done nothing wrong.
Reminds me years ago when I came out of a store and  had a scratch on my car;  probably from a wagon. I took it to the shop and was quoted a price of several hundred to repair.  A man standing near me heard the quote and said  to try a certain product before I leave it in the shop. Said for a few $ I may be able to remove the scratch myself.  Bought the stuff and sure enough I removed the entire scratch. Point I am making-someone, a stranger no less, intervened on my behalf and spoke up.
 Had some truly honest people spoke up maybe so many would not have entered into their contracts to begin with.
All of this in my opinion has to do with total greed, nothing less.

PEOPLE WHO FREQUENT THIS WEBSITE, OF ALL PEOPLE, SHOULD EMAIL, CALL, OR WRITE THEIR CONGRESSIONAL REPRESENTATIVES (1 HOUSE + 2 SENATE) AND TELL THEM:

"NO BAILOUT FOR HOMEBUILDERS."

ENOUGH IS ENOUGH!

More of the new American way. Bill the victims to pay the for losses from white collar greed.