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March 04, 2008
The Obligatory "Everybody But Me..."
"...killed my dream!"
Bernanke: More must be done on foreclosures...One of the suggestions Bernanke made was for mortgage and other financial companies to reduce the amount of the loan to provide relief to a struggling owner. “Principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure,” Bernanke said.
One of the best things I heard all week in a similar vein:
"I can't afford my Ferrari and now my congressman won't take my calls!"
And he won't. But if your homebuying
...then I guess he's music to your ears. Reality check says "if you couldn't afford it beFORE the mortgage lender penciled in some magic earnings number, you still can't." Which doesn't make it his fault you're greedy and stupid. And it doesn't make it my civic responsibility to bail you out.
I wanted a Ferrari, too, dammit.
Posted by tree hugging sister at March 4, 2008 09:24 AM
Comments
I feel for the kids trying to get started, even (some) those who overreached.
But the ones who just spend and spend beyond their means and mess themselves up can kiss my skinny white butt.
Posted by: Ken S, Fifth String on the Banjo of Life at March 4, 2008 10:05 AM
Why a Ferrari? If you're gonna reach, reach.
Posted by: The_Real_JeffS at March 4, 2008 10:32 AM
No, REACH.
Posted by: Ken S, Fifth String on the Banjo of Life at March 4, 2008 10:41 AM
That is one ugly car Jeff, but if the government is buying put me on the list.
Posted by: Mike at March 4, 2008 10:43 AM
"but if the government is buying put me on the list."
Testing along those lines, Mike: I just stood in the middle of the kitchen and yelled "Free kibble for EVERYONE!" and found myself surrounded by eager petitioners posthaste.
Posted by: tree hugging sister at March 4, 2008 10:55 AM
I'm having a hard time getting outraged b/c your math visuals are making me laugh so hard, THS.
Posted by: Kate P at March 4, 2008 11:14 AM
Dammit. I knew I should have left Elvis out...{8^P
Posted by: tree hugging sister at March 4, 2008 11:19 AM
Bernanke? BERNANKE?
He still owes me money!...
Posted by: mojo at March 4, 2008 11:26 AM
That's not ugly, Mike, that's elegance.
Posted by: The_Real_JeffS at March 4, 2008 01:37 PM
Amen, brutha'.
We bought LESS house than we could afford at a FIXED rate for thirty years. I have very little empathy for people who don't read fine print. I think it's a congenital defect.
Posted by: WordGirl at March 5, 2008 01:19 PM