OK, so I went to my bank to see about changing some things with my home equity line of credit (HELOC). The bank froze it last year when the value of the house dropped like a stone. While I was there, I asked why we were not allowed to refinance the mortgage. I had been told on numerous occassions that we could not because we were over 100% loan-to-value (LTV). Of course, this made no sense to me because the bank already had our business and would not be assuming any new risk by doing the refi.
Well, I learned today that the federal govt has regulations limiting a bank's ability to do a refi if the borrower is over 100% LTV.
Really...can someone tell me why in the HELL that would be?
Does allowing me to refi not reduce the risk? It lowers my payment, making it easier to afford, thereby making me less likely to default. Why would the govt want to make it MORE likely for me to default? Maybe because that would make it more likely that I would need a govt program to help me out later. And if I need the govt's help, I am beholden to them.
So, here's some change we can believe in: our govt will create new bailout programs to help me with my mortgage, but it WON'T allow me to bail myself out thru refinancing on my own. Oh, did I mention that I don't qualify for the govt mortgage help anyway? Yeah, hold out your hand to rescue me, then stab me in the back with the other.
Besides, if I'm allowed to do something on my own, it might make me think I'm free to do other things on my own. And we can't have that, now can we?
Tuesday, May 19, 2009
"Charging" Our Way to Socialism!
Hmmm...Congress is close to passing a bill (thru one house already) that will restrict credit card companies from charging higher interest rates to those who carry balances. This will reduce credit card company revenue (boo hoo, I know). Here's the problem: where do you think the CC companies are going to go to make that revenue up? How about charging more to the people who pay their balance off every month?
Remember when we all had to pay annual fees on CC's? The companies then started rewarding responsible customers by waiving this fee and charging lower rates. That's how Cap One got to be so big. Then we started getting offers for 0% for so many months etc. Now, all that will probably go away because the CC companies will start charging the responsible people more to make up for what the irresponsible are no longer paying.
So, they will take from the "successful" and give to the "less fortunate."
My, where have we seen this concept before?
So, to recap, the federal govt now controls:
Remember when we all had to pay annual fees on CC's? The companies then started rewarding responsible customers by waiving this fee and charging lower rates. That's how Cap One got to be so big. Then we started getting offers for 0% for so many months etc. Now, all that will probably go away because the CC companies will start charging the responsible people more to make up for what the irresponsible are no longer paying.
So, they will take from the "successful" and give to the "less fortunate."
My, where have we seen this concept before?
So, to recap, the federal govt now controls:
- banking
- manufacturing (auto industry and its suppliers)
- credit cards
- education (thru the "blackmail" of federal funding)
- higher education (coming soon)
- healthcare (coming soon)
- firearms (coming soon thanks to CIFTA, if it passes)
- firearms (even if CIFTA fails, there are still the other 20,000 gun laws on the books)
- freedom of speech (just kidding...sort of)
- your thoughts (refer back to education)
- and anything else they might think of
Did I leave anything out?
Welkome to United Socialist States of Amerika. Please check your freedoms and any notions of liberty at the door, comrade. And have a nice day.
Thursday, May 14, 2009
Remove Nancy Pelosi now!!!
I am almost speechless at the gall and sheer arrogance that Nancy Pelosi has displayed over the last couple weeks. She claims to have known nothing about water boarding, but…oops, she wrote a memo about it back in December ’07 detailing how it had been used and how there was video footage of it. She also said in the memo that she knew about it in February of ’03.
But she didn’t really know about it. Because this is all a vast right-wing conspiracy by Bush (who is no longer president) to discredit her and Osam…er, Obama. Really? Yeah, right. Because releasing the interrogation memos somehow wasn’t an attempt by Osam…er, Obama to discredit Bush???
Please!
I am beginning to think that there is nothing that makes me sicker than partisan politics. If their guy screws up, its because there is a vast ___-wing conspiracy out to get them and its not their fault. If the other party’s guy screws up, its because he really is the antichrist and will lead us to eternal damnation and all that. But their guy would never do that. No. Not ever. Because they love puppies and kittens and are infallible and will lead us all to utopia.
Why do we not demand better from our politicians? Why has Pelosi not been run out of town already? Why do we not fire these bastards (and bastardettes?) when they lie, cheat and steal from the American people?
How much more brazen bullcrap, lies and monarchy-worthy arrogance are we going to stand before we demand a change? Is this really the best that America has to offer? Lie to me and I’ll keep voting for you because I like your lies better than the other guy’s?
What possible future can we have as a society if this is all we ask for? Hmmm, just ask the Romans. They were once in a similar spot. Oh wait, you can’t. The Roman empire fell. The greatest civilization in the history of the world, dead and gone because of its own apathy, arrogance and avarice.
What’s that they say about history repeating itself?
But she didn’t really know about it. Because this is all a vast right-wing conspiracy by Bush (who is no longer president) to discredit her and Osam…er, Obama. Really? Yeah, right. Because releasing the interrogation memos somehow wasn’t an attempt by Osam…er, Obama to discredit Bush???
Please!
I am beginning to think that there is nothing that makes me sicker than partisan politics. If their guy screws up, its because there is a vast ___-wing conspiracy out to get them and its not their fault. If the other party’s guy screws up, its because he really is the antichrist and will lead us to eternal damnation and all that. But their guy would never do that. No. Not ever. Because they love puppies and kittens and are infallible and will lead us all to utopia.
Why do we not demand better from our politicians? Why has Pelosi not been run out of town already? Why do we not fire these bastards (and bastardettes?) when they lie, cheat and steal from the American people?
How much more brazen bullcrap, lies and monarchy-worthy arrogance are we going to stand before we demand a change? Is this really the best that America has to offer? Lie to me and I’ll keep voting for you because I like your lies better than the other guy’s?
What possible future can we have as a society if this is all we ask for? Hmmm, just ask the Romans. They were once in a similar spot. Oh wait, you can’t. The Roman empire fell. The greatest civilization in the history of the world, dead and gone because of its own apathy, arrogance and avarice.
What’s that they say about history repeating itself?
Wednesday, May 13, 2009
You spin me right round, baby, right round, like a record baby...
Ah, yes. Our benevolent government at work, yet again. Incompetent AND full of lies, a real double-threat, eh?
The New York Federal Reserve Bank found out about the bonuses that would be paid to AIG execs back in September of last year. And who was the head of the NY Fed at the time…why, Timothy Geithner of course. So why did the poo only hit the fan months later? Well, I would imagine because the govt wanted to cover all that up. Why else would they have hired PR firms?
Can you believe it? The govt actually hired PR firms to try to figure out how to tell us what was happening in our own country. You know its bad when the masters of spin (“That depends on what your definition of “is” is”) have to get outside help on how to spin something. How about this:
Gee, was that so hard? You know people are going to be pissed, so you might as well tell them up front so that later on, we won’t ALSO be pissed at you for trying to cover it up. You f-ing dolt!
And on top of all the smoke and mirrors that came after the fact, Congress actually tried to pass legislation to tax the bonuses at 90%. Since when can the govt tax specific people for no reason? Oh wait, there was a reason…to save face! So our own govt was going to tax a select few of its citizens, and deprive them of legal compensation, just to appease the voting masses and make it look like they had done something about it.
Hmmm…sounds like a good reason for a tea party, don’t you think?
The New York Federal Reserve Bank found out about the bonuses that would be paid to AIG execs back in September of last year. And who was the head of the NY Fed at the time…why, Timothy Geithner of course. So why did the poo only hit the fan months later? Well, I would imagine because the govt wanted to cover all that up. Why else would they have hired PR firms?
Can you believe it? The govt actually hired PR firms to try to figure out how to tell us what was happening in our own country. You know its bad when the masters of spin (“That depends on what your definition of “is” is”) have to get outside help on how to spin something. How about this:
“Uh, we are going to give billions of dollars to AIG. They have already agreed to pay $160 million in bonuses and we cannot legally block that, so the bonuses will be paid. We expect this to happen sometime early next year.”
Gee, was that so hard? You know people are going to be pissed, so you might as well tell them up front so that later on, we won’t ALSO be pissed at you for trying to cover it up. You f-ing dolt!
And on top of all the smoke and mirrors that came after the fact, Congress actually tried to pass legislation to tax the bonuses at 90%. Since when can the govt tax specific people for no reason? Oh wait, there was a reason…to save face! So our own govt was going to tax a select few of its citizens, and deprive them of legal compensation, just to appease the voting masses and make it look like they had done something about it.
Hmmm…sounds like a good reason for a tea party, don’t you think?
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