Why? look we are all gonna hurt now

[nadinbrzezinski]

for those going, fuck capitalist, let it collapse, welcome to it.

[jobycom]

1. random phrases, must mean something, haiku?

:rofl:

[nadinbrzezinski]

3. Somehow DU crapped, it was meant as a response to somebody else, not

a post on its own

[Theres-a]

6. I'd let it stand.

The whole Cable news coverage of people out in front of the banks,coming and going on a sunday night is a surreal image that deserves at least one thread mirroring the twilight zone,even though we knew it was coming,feel.

[nadinbrzezinski]

8. Why I have not done a thing

this whole thing is surreal... but expected

[Theres-a]

5. I can haz collapse.

LOLspeak,only opposite.Disasterspeak.Nothing funny now,though.

FAIL.Teh Lehman haz it.

[Bob Dobbs]

2. Capitalim is unsustainable and created for the power elite.

Collapse was always inevitable.

The class war is over and the elite has won.

[nadinbrzezinski]

4. Since the last 20 years at least have not been capitalist what collapse is

something else

Hell... I have read Adam Smith. and this was not

Now worry about Chile and the early years of pinochet, that is classic chicago school and this is the puuurrrrfeffect chance for that

[Waiting For Everyman]

7. The forclosed are already hurting - it should've been STOPPED...

like a year ago. The banks think homeowners can be wiped out by the millions by their greed, and they won't be affected??? In what universe. They dictate the terms of the loans, the foreclosure laws with packed courts, and the backruptcy laws. They got their way.

"The rising tide" is the TRUTH. Turning our heads from so many being wiped out is coming home to roost. They are next. No surprise. Their decision, they insisted on it. And the hedge/pension funds are going too... can't interfere with the portfolios growing exponentially, can we now?

McCain's lobbyists were smacking down foreclosure relief even last Spring. Did the papers or for that matter any financial experts object to that? No. Just blame the Dems holding the hearings trying to prevent the disaster. Always the same.

[Marie2]

9. The Banks's Greed?

I don't work for a bank or anything but. . .

why are people being foreclosed on?

Because they aren't paying their mortgages, for several months.

If the Bank lied to them about the terms or forced them to sign something or entered into contracts with mentally ill people, I say the Bank's greed is causing the problem.

But IF people took out loans they could not afford because they thought they could flip the house in two years and make a 25% profit, aren't they just as greedy?

[Waiting For Everyman]

10. People are being foreclosed b/c of OVERCHARGING.

My husband was a 100% disabled Viet Nam vet. But the VA never covered his prescriptions as they're supposed to - thanks to Repubs in the Executive Branch making agency rules contrary to the laws Congress writes. It's "policies" and "practices". It's driven by who heads the agency.

So we paid from 1/3 to 1/2 our income for his drugs for 20+ years. Guess how good your credit is with medical problems? And that allows banks to charge us DOUBLE what my neighbors pay for the same mortgage... not a new one, a 12-year old one. $800 EXTRA per month above the going rate. I figured out it's been more than $75K extra since 2001. (No way to refi, unlike the "subprimes" we couldn't get one anywhere except at a higher rate than we had already. No way out of it.) I'm just one person... times how many million of us? Did anyone care? No. "Life is great" for everyone else, tra-la, tra-la. We paid, and paid, and paid... No money for anything else, such as our own needs or anything, just pay and pay to the banks all this time.

Nobody stopped the banks' policies, as the almighty credit report became king. It wasn't about risk. I've been here making every payment late or not, paying them all, for 12 years. It's a rationale for a ripoff, courtesy of the Repub party.

Somehow I'v hung on (barely) as millions have gone under the same way. Now, here we are. What a surprise.

Did you know (I HAVE worked for a bank, a major one) that ALL of the cost of loans is paid by late fees and other fees? All of it. And who pays the late fees? Those in hardship already! There is not one bit that is "cost of doing business" to the INVESTOR. And who are the investors? The American public. Hedge funds. Especially state employees, etc. But the banks used those pension investments to funnel a lion's share of it to the top, to themselves. And nobody stopped them. Why not? Nobody wanted their portfolios to earn any less. GREED. And not all of it was the banks' greed. The public's too.

Now those pension holders' homes will be threatened b/c THEIR jobs are threatened. I already know this game. We'll see how well they do at it.

[stillcool]

11. We're the 'ownership society'...

George was so proud that everyone could afford a home. They hyped the home ownership crap so well, that even I thought of buying a house. People who were first time buyers getting in while the getting was good, and then having their rates jacked up higher and higher are the one's that got sucked in and fucked. I have no clue about how financial markets work, but I do know one thing..it's always easier to blame the poor bastards that get taken for a ride, than the one's that are driving the bus.