bostonbubble.com

[Hard Rain]

From today's news section:

http://www.wbur.org/news/2008/77175_20080513.asp

"She worked then as a real estate agent making more than $80,000 a year. That's until she got sick and couldn't work for six months, then the real estate market started slowing down. "

Maybe she should have paid taxes when she was making 80k. One month after buying the property she was hit with a lien for 15k for not paying her taxes in 2006. Let's see if I have this right; She puts nothing down on the house, by her own admission doesn't make payments, doesn't pay her own taxes, and now wants a taxpayer bailout....nerve

[Shoeshine]

Barney Frank to the rescue

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[john p]

This is pretty bad. You're totally right. This is why I am so afraid of the potential socialism that could come after this election, because you need to have a far left socialistic mindset to buy into this devolved personal responsibility value structure of thinking. When you give someone something for nothing they formulate delusions that they are entitled the gifts that others paid for. A big problem is that not everyone pays taxes and because they don't pay taxes they don't value public policy that isn't funneling them benefits.

In Boston, we had a concentration of power in certain neighborhoods, which funneled resources and had Boards created, regulatory infrastructure, buildings, parks, golf courses, etc. When this power culture that had feathered their nest started to dissolve when people started to migrate to the suburbs, the people that moved into those neighborhoods started to populate those roles and voids. It's kind of good to see a bird of a different stripe enjoying those spoils because it demonstrates the echo of the graft and patronage that got inherited.

What I'm trying to say is that, like rent control, if the people you see in the units are honest and hard working and the economic climate is harsh, you can almost feel sympathetic and partial to it. However, if you see lazy, self-serving people that don't want to lift a finger, and are just cock-roaches in society, you're not going to go along with that socialistic notion at all.

As I always think, if you have a strong value structure based on hard work, you'll lift a community to what is reasonable. Once you reach that "state" it is fair to help those that are left behind, but if people are delusional and feel entitled to hand outs, they add too much burden to the working folks who have to pay the freight. People's hearts go out for someone who actually tries, but in these times it is not financially sustainable to carry the weight of more and more deadbeats.

What the deadbeats don’t realize is that they actually hurt good people who are trying but have fallen behind. Think about a hard working family that may have been hit with a medical situation or a sick relative. When people are voting on policy decisions they need to weigh in the surcharge of the deadbeats that will game the system. It is harder to reach the good people that need a hand. To what length the housing bailout reaches will be based on people’s perception of if there are more deadbeats in the equation or victims of predatory lenders…

[Paperboy]

Life is difficult to say the least. THose silly bills that always require a cash infusion.

I bought Yahoo stock during the tech boom at $150 a share, now its down to less than $24 per share. Can I get the government to help cushion the blow. Did I add that I recently injured my shoulder and have difficulty typing.
My kids suffered the most from the tech crash, we were so poor we had to give up our free email adresses with Yahoo and hotmail.

People need to realize that they can not bite ff more than they can chew and if you do, don't expect the government to be waiting to give you the heimlich manuever.

[JCK]

[Paperboy]

Grown adults need to make decisions using as much information as they can possibly attain. If you believed the first government cheerleader (Greenspan) that you listened too and did not seek out contrarian points of view for comparison than shame on you. There were clearly warning signs for those considering ARM's.
If you now expect the cheerleader that got you into the mess to help you out of it, than you are a fan of the nanny state. First they trick you into a bad decision and then they come in with a plan to help you out of the mess they helped create.
Ultimately there will be more people that are current with their mortgages than those that are in trouble. Political candidates would be wise to remember that charity starts at home when the belt begins to tighten. The small percent of the population that would be helped by any Barney-Frank-legislation, will be dwarfed by those that feel cheated by the governments bailout of their neighbors.