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Bloviating Zeppelin: EJECT, EJECT, EJECT!

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Friday, July 25, 2008

EJECT, EJECT, EJECT!


It's a bailout. Plain and simple.

And there are politicians who have been bought off completely by Fannie Mae and Freddie Mac.

This housing legislation stinks, plain and simple. It has passed the House and goes to the Senate next. President Bush has said he won't veto the bill.

It's going to cost taxpayers literally billions. Billions of dollars vacuumed from United States citizens that somehow managed not to be stupid but, instead, managed to keep track of their monies and acted with discipline and restraint -- who knew what they could afford and what they could not. Further, what of those homeowners who purchased homes at inflated prices but haven't gone bankrupt -- and who'll be saddled with their own inflated debt and the debt of hundreds of thousands of other Americans who lacked frugality and reality?

But no, this bill would benefit those lenders and borrowers who were stupid, ignorant, greedy, arrogant, who wanted something for nothing and -- now -- apparently will get it. The only message sent is this: honest Americans get hosed; dishonest Americans are saved.

In the meantime, you and I get stuck with the bill.


This is a national disgrace. Those involved lenders and borrowers have a price to pay, and only they should pay it.

BZ

12 Comments:

Blogger A Jacksonian said...

I've pretty much had it with gov't corporations, bailouts, payoffs and the such... let them die its the best way to go.

Thu Jul 24, 06:10:00 PM PDT  
Blogger Bloviating Zeppelin said...

Simple: concur.

BZ

Thu Jul 24, 06:30:00 PM PDT  
Blogger Bloviating Zeppelin said...

AJ: considering your insight, I still consider your comments here an honor bestowed upon me.

BZ

Thu Jul 24, 06:31:00 PM PDT  
Blogger Bloviating Zeppelin said...

I paid 15% interest in 1982, for a "HUGE" (1950 sq.ft) new home valued at $107,000 -- with a "four year call" on my loan. And I had then, as now, STERLING credit. I worked overtime, overtime, overtime and then - overtime: in order to make the payments required.

My credit rating is 830. I worked like a FUCKING BASTARD in order to acquire that point.

This shit didn't come without sacrifice and diligence and restraint and insight.

The cool thing is that lenders dance to MY payment tune. I've paid off THREE loans in the past year, despite their sending me numerous letters indicating that I am ESTUPIDO. Yeah right.

I'm about to trade in a fully-paid-off RAV-4 for a 2009 Prius.

If I decide to cut this deal.

BZ

BZ

Thu Jul 24, 06:57:00 PM PDT  
Blogger Gawfer said...

"...Further, what of those homeowners who purchased homes at inflated prices but haven't gone bankrupt..."

That would include the Gawfer household whose house was just reasessed for $62,000 less than I owe.

Thankfully, God has provided me a generous income, and has blessed us with good health. We'll ride the storm out and keep our heads above water without 'big brother's' help.

Thu Jul 24, 08:53:00 PM PDT  
Blogger Bloviating Zeppelin said...

Well Gawfer, you'll just have to zip it while your erstwhile neighbors, who couldn't afford THEIR home, get BAILED OUT and, FURTHER, decide to take that nice Alaska cruise or recarpet their entire home or turn their den into a massage parlor.

BZ

Fri Jul 25, 12:19:00 AM PDT  
Blogger Mark said...

once more we pay ever more taxes to make some fools rich.

Fri Jul 25, 12:35:00 AM PDT  
Anonymous WMD_Maker said...

gawfer
" reasessed for $62,000 less "

On the plus side your taxes go down!!!!! until Ahnold raises them to pay for electricity you are not using.

Fri Jul 25, 07:31:00 AM PDT  
Blogger Gayle said...

Thank goodness our home was paid off years before all this hit the fan. We're going to need our money to pay for the debts of damn fools!

Fri Jul 25, 11:10:00 AM PDT  
Blogger Bullfrog said...

As a parent of 2 toddlers, this just reminds me of the simple philosophy that mistakes have consequences. People knew better, but chose greed over common sense, and instead of letting the natural consequences come, The Nanny is going to protect them from those consequences, thereby perpetuating more irresponsibility. Not to mention it is really easy to be "benevolent" when the money is coming out of someone else's pocket.

I am still renting, and had to weather the storm of temptation to buy when all of my friends were getting interest only loans or fully financed loans. Without exception all of them are now in a world of hurt, someone having to simply walk away from their loan and start fresh, with the added burden of horrible credit.

You can't put a price on a clear conscience.

Fri Jul 25, 01:03:00 PM PDT  
Blogger Bloviating Zeppelin said...

All: couple this to Obama and wait, just wait to see your taxes next year!

BZ

Fri Jul 25, 01:04:00 PM PDT  
Blogger Gawfer said...

BZ,

the plan is we're heading to Tahoe on Monday, and will be driving back to sacto for dinner with my brother.

If we come back on the 80, mayber we can hook up for a hand shake, eh?

Send me an email with your thoughts

Fri Jul 25, 06:37:00 PM PDT  

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