Comments on: Special Report: How the Government is Setting Us Up for a Second Subprime Crisis

By: Doug Stevens

Doug Stevens — Thu, 18 Mar 2010 08:27:08 +0000

TERM LIMITS NOW !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

By: Fred Nazem

Fred Nazem — Sat, 13 Mar 2010 15:47:27 +0000

in the US economic stable, the bigger the pile of manure our government makes, the more the opportunity to find ponies like Ford and other ten-baggers. Lets focus on finding these gems, not carping on the well- documented ineptitude of the Government. These are indeed the worst of times and could be the very best of times if we choose to keep our eyes on the sliver of light that are shinning through, here and there.
Fred Nazem

By: MARIA

MARIA — Fri, 12 Mar 2010 14:35:12 +0000

hOW LITTLE YOU KNOW, I SEE THIS HAPPENING EVERY MONTH, I SEE PEOPLE GET THESE LOANS, S TILL, THEY ARE BEING OFFERED AND THEY ARE BEING WRITTEN UP

By: Bruce

Bruce — Wed, 24 Feb 2010 19:38:42 +0000

Right on, Anon!
The requirements are bent and stepped over routinely. I sold a home in late 2008 to a guy who had been approved for a 2.5% down FHA loan. Talk about unqualified? The closing was postponed over a month because the guy could not find a way to make the down payment. He eventually found someone to loan him the money, but I kept expecting him to want me to loan it to him. The guy was upside-down within two months.

In my opinion, if you can’t come up with 20% down, you should not want a home loan, and no one should give it to you. There is no way that taxpayer money should be used for these loans, or to guarantee them.

BTW, my daughter was clerking for a one-person mortgage broker at the time, and the broker was taking home paychecks exceeding $3.5 million every year!

By: mike

mike — Mon, 22 Feb 2010 20:50:21 +0000

I am democrat,however,this administation is basically using the same financial team that were used to create the fall.Their reasoning is ,who is better to untangle the crisis than those who were party to the meltdown.Excessive profits off questional credit practices frighten me.This jobless recovery ,frightens me.It seems every problem finds it solution in more governmental spending and virtually no corrective measures.Requiring a larger downpayment will not drastically easy the cost of a total loss.This administation needs new financial advisors.

By: D Nelson

D Nelson — Fri, 19 Feb 2010 20:58:56 +0000

I think it was president Truman that said “if you cant beat the United States Militarily than you have to beat it……. ECONOMICALLY!!!— CHINA” and now they are trading in a roundabout Currency of their own. Its time to Invest in OUR U.S.A energy microcaps —- Cancel the Debt on the people and since the banks went Broke we ALL get our Houses for FREE.. Increase my families Net Worth “DEED Me Please” Give US back Prosperity and the TAX off our Backs… At one time the people were the BANKS we had the money…. Then came the Developers … and the greed and the greed… not the Saving — and pushed A COUNTRY FOUNDED ON CHRIST to the cliff.. no Jesus no Blessings!

By: thelma

thelma — Tue, 09 Feb 2010 23:30:21 +0000

the author of this article starts out making a huge mistage as to who started this sub-prime loan mess ….It was Jimmy Carter and followed up by Bill clinton……check your facts…….we do!!!

By: skopros

skopros — Fri, 15 Jan 2010 04:03:12 +0000

why in heaven’s name didn’t you say something about the prospects for Ginnie Maes as a future investment or prospects for valuation if already held?? Did I miss a paragraph or something?

By: Been through the Socialism

Been through the Socialism — Wed, 13 Jan 2010 17:37:23 +0000

How can people without enough-paying jobs, or without any jobs at all, buy houses and get mortgages in the first place?

By: David Chester

David Chester — Tue, 12 Jan 2010 16:13:55 +0000

This story contains a lot of truth but not the story behing the story. As long as the US government continues to allow land owners and banks to speculate in the value of land and its rising prices, so will successive bubbles and bubble bursts create financial crises, bankruptcies and loss of progress in the macroeconomic structure of society. Our present system is unstable and it is caused by the unfortunate fact that unlike goods which are possible to produce, land is not and what we have must naturally increase in value (even without speculation in its value, which makes it more extreme).

What we badly need to stabilize the macroeconomic system is a tax on land values and less tax on incomes so as to allow the government to have about the same income. By taxing land values its speculation will cease and its value decline to more reasonable sums. More land will become available allowing more people to work without having for their employers to pay high costs for access to the land site they need to use.

The loss in land value will hit the banks hard but the answer to this is to make the changed tax regime slowly and in specified stages so that the speculators can get out knowing roughlt what’s ahead. It must be done, there is no other way forward to recovery until land prices have run down by what ever means. Unless land becomes cheeper out unemployment numbers will stay high and this situation prevail or get worse so that taken overall it is better for the country to suffer some bankrupcies and savings losses, than for 10% of the population of workers to become poor and homeless. The subject is one of balanced losses, savings against potential earnings.

TAX TAKINGS NOT MAKINGS.