Comments on: Fannie Mae gets tough with ‘strategic defaults’ http://insiderealestatenews.com/2010/06/fannie-mae-gets-tough-with-strategic-defaults/ Colorado's Real Estate News Source Thu, 24 May 2012 00:43:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The Referee http://insiderealestatenews.com/2010/06/fannie-mae-gets-tough-with-strategic-defaults/comment-page-1/#comment-7304 The Referee Wed, 30 Jun 2010 04:52:02 +0000 http://insiderealestatenews.com/?p=6166#comment-7304 Don't get me wrong; no one should be bailed out; banks or borrowers. Absent bailouts, you encourage responsibility and prudence. I just find it highly hypocritical that some support bail outs for banks, but call it fraudulent for homeowners that choose "strategic default" because they don't have access to the Fed's protection. Remember, the opposite of "progress" is "congress"; why do they call this a "representative republic" anyway...what a farce! Don’t get me wrong; no one should be bailed out; banks or borrowers. Absent bailouts, you encourage responsibility and prudence. I just find it highly hypocritical that some support bail outs for banks, but call it fraudulent for homeowners that choose “strategic default” because they don’t have access to the Fed’s protection. Remember, the opposite of “progress” is “congress”; why do they call this a “representative republic” anyway…what a farce!

]]> By: vaporland http://insiderealestatenews.com/2010/06/fannie-mae-gets-tough-with-strategic-defaults/comment-page-1/#comment-7249 vaporland Tue, 29 Jun 2010 17:23:37 +0000 http://insiderealestatenews.com/?p=6166#comment-7249 @The Referee, you called it, bro! The federal goverment could have given the "bailout" money to the taxpayers so that we could then pay the banks, and everyone would have been made whole. Instead, the banks got bailed out and the taxpayers got the shaft. Bankers preaching "moral financial responsibility" to underwater mortgage holders are showing a complete lack of empathy and understanding of the current financail state of the union. Nobody's bailing out my debt, and Congress made it extremely difficult to declare bankruptcy due to lobbying by the (surprise) same bankers who got bailed out. Next time they can just go bankrupt and then some of these billionaire bankers can try takeing a spot in the unemployment line. @The Referee, you called it, bro! The federal goverment could have given the “bailout” money to the taxpayers so that we could then pay the banks, and everyone would have been made whole.

Instead, the banks got bailed out and the taxpayers got the shaft. Bankers preaching “moral financial responsibility” to underwater mortgage holders are showing a complete lack of empathy and understanding of the current financail state of the union.

Nobody’s bailing out my debt, and Congress made it extremely difficult to declare bankruptcy due to lobbying by the (surprise) same bankers who got bailed out.

Next time they can just go bankrupt and then some of these billionaire bankers can try takeing a spot in the unemployment line.

]]> By: The Referee http://insiderealestatenews.com/2010/06/fannie-mae-gets-tough-with-strategic-defaults/comment-page-1/#comment-7186 The Referee Tue, 29 Jun 2010 02:01:09 +0000 http://insiderealestatenews.com/?p=6166#comment-7186 Banks enjoy a monopoly in the world financial system; homeowners do not. If homeowners could get a bail out from the Government like the banks have, we wouldn't have a problem...or would we? Why is it ok for taxpayers to bail out banks, but it's not ok for banks to bail out taxpayers? Double standard if you ask me. It's no more unethical for homeowners to walk away from their mortgages than it is for a bank to take taxpayer money to bail themselves out of a jam. Bailing the banks out is a "strategic default" of the highest order. Banks enjoy a monopoly in the world financial system; homeowners do not. If homeowners could get a bail out from the Government like the banks have, we wouldn’t have a problem…or would we? Why is it ok for taxpayers to bail out banks, but it’s not ok for banks to bail out taxpayers? Double standard if you ask me. It’s no more unethical for homeowners to walk away from their mortgages than it is for a bank to take taxpayer money to bail themselves out of a jam. Bailing the banks out is a “strategic default” of the highest order.

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