Foreclosures now worse in Henry, Gwinnett than in Fulton, DeKalb
I just got back from the state Capitol, covering a congressional subcommittee hearing on mortgage foreclosures and banking problems. Dan Immergluck, an associate professor at Georgia Tech and one of the nation’s top experts on foreclosures and their impact, dropped a few of the more interesting nuggets.
For example, he told the subcommittee that over the last year or so, “foreclosure rates have increased the fastest in suburban and outlying counties,” rather than inner-city communities:
“By early 2009, the (foreclosure) rates in Henry and Gwinnett had surpassed those in the inner counties of Fulton and DeKalb, which had long had the highest foreclosure rates in the region. The suburbanization of the foreclosure crisis occurred across all suburban counties.”
He also told the subcommittee that in the first four months of the year, 45 percent of all repossessed homes sold by banks in Fulton County were “dumped” for less than $30,000.
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176 comments Add your comment
Joan
November 2nd, 2009
2:28 pm
Well, when the foreclosures are all done with, housing values should have gone back to some realistic level, and the liberals, after all, will have finally made housing affordable for their great under/unemployed constituency. All it took was the CRA, Barney Frank, total collapse of the economy, and now we can put babymamas in those cheap homes. Ain’t life grand.
DoggoneGA
November 2nd, 2009
2:28 pm
“45 percent of all repossessed homes sold by banks in Fulton County were “dumped” for less than $30,000″
There goes the neighborhood!
Normal
November 2nd, 2009
2:30 pm
I personally think 30,000 is all you should have to pay for a four bedroom, four bath house with a double garage. Just wait until socialism starts, boy oh boy….
Mrs. Godzilla
November 2nd, 2009
2:31 pm
now we can put babymamas in those cheap homes……there’s your sign
Redneck Convert (R--and proud of it)
November 2nd, 2009
2:33 pm
Well, I knowed it was a Recession when Those People in DeKalb and Fulton started loosing their homes. Now it’s spread to taking the homes of good White folk in Henry and Gwinnett. It’s a Depression! A Obama Depression! May the Good Lord help us all till we can get the librul Democrats out and put God back in Congress and the White House. Or Conservative Republicans. It don’t matter which.
O me! It wouldn’t suprize me none if bank people showed up and repossessed my beer truck.
Have a good p.m. everybody. And pray real hard.
USinUK
November 2nd, 2009
2:34 pm
Normal –
“Just wait until socialism starts, boy oh boy….”
you’re soaking in it!
Normal
November 2nd, 2009
2:34 pm
OH, I forgot, it’s all Bush’s fault too.
DoggoneGA
November 2nd, 2009
2:35 pm
“now we can put babymamas in those cheap homes……there’s your sign”
The “sign” came before that: CRA
Normal
November 2nd, 2009
2:38 pm
USinUK…Not sure if I’m soaking in it, but I think I’m sittin’ in something…
Mrs. Godzilla
November 2nd, 2009
2:40 pm
DoggoneGA
Wrong sign dude…..it’s the “babymama” that tells the tale…..
N-GA
November 2nd, 2009
2:43 pm
I still can’t believe that people are still blaming CRA. As a banker who had to conform to CRA, it had absolutely nothing to do with the mortgage crisis.
CRA stands for Community Reinvestment Act. It was passed in order to stop the banking industry practice of generating deposits in low income neighborhoods, then lending that money to customers in wealthier areas while denying credit to people in the communities where the deposits were sourced.
What CRA did was require banks wanting to open new branches to lend a specific percentage of those deposits to people in that branch/area. This could be auto loans, loans for household items like furniture and carpeting, etc. If a bank did not want to conform to CRA, they did not need to open the branch. And home loans were not the focus of CRA.
I suggest that you CRA whiners stop parroting your talking heads and learn a little about that of which you speak.
USinUK
November 2nd, 2009
2:44 pm
I’ve been saying for months – the banks should be using a few bulldozer brigades – clear out some of the fuster-cluck mcmansions (that have all the quality craftsmanship of a shoebox) … getting rid of the inventory will help raise property values AND get rid of some of the ugliest neighborhoods in the country. (plus, employment for the bulldozer guys!)
DoggoneGA
November 2nd, 2009
2:45 pm
“I still can’t believe that people are still blaming CRA”
Believe it. Never forget – the first rule of the conned is: “never let a good lie die”
N-GA
November 2nd, 2009
2:47 pm
BTW,
The biggest problem was the mortgage industry. The mortgage originators were paid for production…the more mortgages, the larger their paycheck. As a consequence, they sourced mortgages that were “sub-prime”, they altered financial data on the mortgage applications, and they approved mortgages that failed the credit worthiness test. Just look at Countrywide, the criminal who was CEO, and the bank (IndyMac) they created. It was as bad as the Madoff scam!
Cmon all you apologists….bring on some hard facts!
Marsh
November 2nd, 2009
2:48 pm
I know a lot of folks who would love to snag a $30,000 home. They’re good, hardworking people who just need a break.
Marsh
November 2nd, 2009
2:50 pm
It would be great if some of the homeless could be put in these homes.
DoggoneGA
November 2nd, 2009
2:50 pm
“Cmon all you apologists….bring on some hard facts!”
You’re not holding your breath, are you? Trust me, it’s all been debunked over and over and over. It just never penetrates because if it did they might have to quit parroting that good lie.
Marsh
November 2nd, 2009
2:53 pm
I’m sure there are some wealthy people who would help out, and get some of these down on their luck folks into a home.
Taxpayer
November 2nd, 2009
2:55 pm
Well, if they had not run Marta out to the suburbs, none of this would have happened.
Bosch
November 2nd, 2009
2:55 pm
I too am agogged at those idiots who still blame the CRA for the mortgage collapse.
This weekend while chauffeuring the kiddos around to various Halloween festivities, I got lost in a completely weird “subdivision” which wasn’t a subdivision at all. It had roads and streetlights, but no houses. The lots were all over grown and the few houses in the subdivision were nice enough, but I thought to myself how their value must have plummeted because they sit in an unfinished neighborhood. I’m sure when they bought their houses or had them built they were promised the subdivision would be full, but now these few unfortunate people sit in poorly constructed houses in a really weird neighborhood, wonder what that did to their home values- although I have to admit, the name of the subdivision was pretty – something with a tree name and a water feature: Oak Creek, or was it Hickory Lake, or Willow Stream – can’t remember, oh well.
AmVet
November 2nd, 2009
2:56 pm
I wonder how long before one of the compassionate conservatives notes that a lot of Those People now live in Henry and Gwinnett.
The conned will never wake up to the fact that almost ALL of us got screwed.
To the tune of $3TRILLION that didn’t exist. That’s 3,000 stacks of a million dollars.
They can’t tell you by whom. Nor how they did it. Not even where it went. And they don’t want to know. So they watch their portfolios and hope beyond hope that the same criminals on Wall Street don’t f&ck them again.
Man it’s gotta be dark up there…
Taxpayer
November 2nd, 2009
2:57 pm
I suppose the 17 percenters are not capable of comprehending what companies like Goldman Sachs did. I will give them a little hint. It had nothing to do with CRA.
Joey
November 2nd, 2009
2:59 pm
N-GA:
I appreciate the education you are giving some of us.
Please, tell us more.
I would like to know the truth about Freddie and Fannie.
Marsh
November 2nd, 2009
2:59 pm
Uh-oh, some of ‘those’ people living in Henry and Gwinnett…
I smell a tea party coming on.
Shananeeeeee Fananeeeeeee
November 2nd, 2009
2:59 pm
Obama and his team will shake up the numbers and next month it will look like the foreclosures are way down in Henry and Gwinett. Change in 2010 and 2012, Change we are looking forward to.
Normal
November 2nd, 2009
3:01 pm
Does Freddie and Fannie have anything to do with the CRA? Inquiring minds want to know…
Mrs. Godzilla
November 2nd, 2009
3:01 pm
Shananeeeeee Fananeeeeeee …..I think there’s another sign here…..
USinUK
November 2nd, 2009
3:01 pm
Boschy –
did you see this?
http://www.ajc.com/news/nation-world/cheney-fbi-interview-72-182510.html
(I hear he’s a bad man)
Taxpayer
November 2nd, 2009
3:01 pm
“45 percent of all repossessed homes sold by banks in Fulton County were “dumped” for less than $30,000″
Well, we got laws against dumping up here in these parts and stiff penalties too. So, don’t even try it.
Normal
November 2nd, 2009
3:03 pm
I cannot tell a lie, Opie. I put that letter underneath that trash…
Marsh
November 2nd, 2009
3:03 pm
Tea partiers on standby! Signs aloft! Guns at the ready!
Now waddle on down the street.
Kamchak
November 2nd, 2009
3:04 pm
All it took was the CRA, Barney Frank, total collapse of the economy, and now we can put babymamas in those cheap homes.
Ah yes, the evil CRA, Fannie and Freddie. I’ll keep posting this until you actually read it.
Federal Reserve Board data show that:
* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
* Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that’s being lambasted by conservative critics.
[...]
Between 2004 and 2006, when subprime lending was exploding, Fannie and Freddie went from holding a high of 48 percent of the subprime loans that were sold into the secondary market to holding about 24 percent, according to data from Inside Mortgage Finance, a specialty publication. One reason is that Fannie and Freddie were subject to tougher standards than many of the unregulated players in the private sector who weakened lending standards, most of whom have gone bankrupt or are now in deep trouble.
During those same explosive three years, private investment banks — not Fannie and Freddie — dominated the mortgage loans that were packaged and sold into the secondary mortgage market. In 2005 and 2006, the private sector securitized almost two thirds of all U.S. mortgages, supplanting Fannie and Freddie, according to a number of specialty publications that track this data.
[...]
What’s more, only commercial banks and thrifts must follow CRA rules. The investment banks don’t, nor did the now-bankrupt non-bank lenders such as New Century Financial Corp. and Ameriquest that underwrote most of the subprime loans.
These private non-bank lenders enjoyed a regulatory gap, allowing them to be regulated by 50 different state banking supervisors instead of the federal government. And mortgage brokers, who also weren’t subject to federal regulation or the CRA, originated most of the subprime loans.
Angry Black Man
November 2nd, 2009
3:04 pm
AmV
I live in Henry Co. It has nothing to do with “Those People”. Henry is still unbridled Republican territory with $200-$300k housing subdivisions. A few years ago it was one of the 10 fastest growing counties in the country. If you don’t have the infrastructure and employment to handle that, you can’t sustain that growth forever. If you’re in the market, there’s homes galore here. I saw a 6 bedroom 4 bath a while back in Eagle’s Landing Gated Community for around $215k. My house lost value too, but I don’t plan on going anywhere. At least not yet.
Joey
November 2nd, 2009
3:04 pm
We don’t have to read it in the paper to know that all metro is affected. All we need do is look to the left and right as we drive around our communities.
I have no idea why Jay thinks Gwinnett and Henry and Forsyth residents are not aware that they or their neighbors are losing their homes. Maybe because he does not pay any attention to the sub-urban counties.
Marsh
November 2nd, 2009
3:06 pm
Oh no! Not Forsyth too!
Tea partiers, you know the drill!
N.J.
November 2nd, 2009
3:07 pm
Most of these were the result of Adjustable rate PRIME mortages not subprimes. Everyone knows that the bubble in housing prices did not occur at the purchaser level, but at the highest levels in investment banking, which used its ability to pressure the housing market to make it appear that there was not enough “supply” to meet “demand” thus a rise in the cost of homes, the rise in the average rate of mortgages, and then the rise in the value of mortgage backed securities as investments, which provided monthly income for its owners. If the average mortgage payment in a bundled mortgage is 250 dollars owners of the securities get a check for 250 dollars a month. If its 2500 dollars, you get 2500 dollars a month. Which investment would you prefer? And if you had the power to manipulated which one you got, what would YOU do?
Bosch
November 2nd, 2009
3:07 pm
USinUK,
No, I didn’t. I’m sure his lack of memory has to do with the demons who have attached themselves to his brain cells and won’t let him remember those unpleasantries.
‘Cause ya’ know why? He’s evil. Pure evil.
Midori
November 2nd, 2009
3:07 pm
wow!!
who woulda thunk ALL THOSE POOR BLACKS AND HISPANICS WHO CAUSED THIS CRISIS live in Gwinnette and Hall Counties? :eyes:
Midori
November 2nd, 2009
3:08 pm
oops,
that should be:
Marsh
November 2nd, 2009
3:08 pm
N.J.,
Where have you been? We sure have missed your intellect today.
Bosch
November 2nd, 2009
3:09 pm
Hey Midori!
USinUK
November 2nd, 2009
3:09 pm
Kam -
and, lest we forget, even at its height, subprime lending was still less only 20% of all mortgages on the market.
the drivers of the housing crisis were the unregulated structured credit market, ratings agencies that were asleep at the switch, lending institutions that threw all prudential guidelines out the window because they knew they could get risky loans off their books and the bank regulators that didn’t do their job
joan’s “babymamas” are waaaaaaaaaayyyyyyyyyy down the list of culpable parties
USinUK
November 2nd, 2009
3:10 pm
bosch –
“‘Cause ya’ know why? He’s evil. Pure evil.”
you know, I’ve heard that somewhere … can’t recall where …
hope you and yours had a good Halloween … did any of your younguns dress as house-attacking-trees???
@@
November 2nd, 2009
3:13 pm
‘Ya mean to tell me that Geithner’s GoldMan is confiscating people’s homes and dumping on ‘em. Good thing GoldMan got out before the bubbleheads’ burst.
N.J.
November 2nd, 2009
3:13 pm
Florida went through that development thing 30 years ago. Developers would use their clout to prevent local legislatures from attaching “impact fees” to their construction which led to developments with 10,000 units being hooked into sewer and electrical systems that simply could not handle it. By the time that sewers were flooding every time it drizzled out, the development corporations had dissolved, and there was no one to hold responsible. So it was time to raise property taxes. In the long run passing the impact fees onto the people when they bought the homes would have been far cheaper than it ended up later, because the solutions to the problems could have been built in at the time of construction, rather than being dug up and finding a less efficient engineering fix 20 years later.
Angry Black Man
November 2nd, 2009
3:13 pm
U-n-U @ 3:09
You didn’t know. My subdivision’s name is “The Enclave of Baby-Mamas”, and we’re right next to the country club here in Henry Co. The cheapest home here was $270k. tee hee hee…
@@
November 2nd, 2009
3:14 pm
ABM and I are neighbors?
Kamchak
November 2nd, 2009
3:16 pm
USinUK
I’ve posted that McClatchy piece at least twice at Cynthia’s in response to Joan’s insistence that it’s Fannie, Freddie and the CRA’s fault. Maybe she doesn’t know how to click on the blue words.
Midori
November 2nd, 2009
3:17 pm
Hi Boshie
check this out (posted by a friend on another site illustrate just how crazy these 17 percenters are):
Fellow conservatives, answer me this. Why are liberals obsessed with reading books? What is it about books, which are just words on paper, that captivates liberals? I’ll tell you what it is. It’s these two things: 1) Liberals worship intellectuals. Liberals think the highest form of life is someone with lots …of letters after their name. Intellectuals, who think they are better than everybody else, have leftists worshipping them because their pseudo-scientific theories help liberals convince themselves the nonsense they spout is true. Intellectuals write books in which they attack basic rights, such as the right to be successful, or spread liberal lies like ‘climate change’. Liberals east it up, simply because the person who wrote the book has several degrees. Getting degrees is easy – all you have to do is read a lot of books. But liberals think it’s the pinnacle of humanity to be an academic elitist. So when intellectuals write books liberals are compelled to buy them, read them and regurgitate the rubbish inside as ‘fact’ to back up their ridiculous claims. 2) Liberals can’t think for themselves So instead, they use books as their way of forming whatever twisted ideas they have. Rather than form their opinions by common sense, reason and life experience, liberals just read a book and use whatever it says as their opinion. Without books, liberals would have to actually think for themselves. And if they thought rationally, they would realise how stupid their beliefs are. So rather than risk the consequences of independent thought, liberals just read books and pretend they thought of it themselves. There is only one book worth getting guidance from. It’s called the Bible, and it’s not just a book – it’s the Word of God. Books are nothing but trouble. I’m sure you all agree.
moral of the story?
BOOKS ARE EVIL!! EVIL, I TELLS YA!!!
AND BECAUSE LIBERALS READ THEM, THEY ARE EVIL TOO!!!
USinUK
November 2nd, 2009
3:18 pm
ABM –
hahaha … and you’re the macdaddy in the middle of it all
Midori
November 2nd, 2009
3:19 pm
Hi Boschie,
my previous response has been hung up in moderation. Hope it gets released — you’ll get a real kick out of it
Mrs. Godzilla
November 2nd, 2009
3:19 pm
Kamchack
Maybe she’s color blind……na…not with the babymama comment…..
USinUK
November 2nd, 2009
3:19 pm
meanwhile, after living in DC for 8 years and London for 3.5, I keep forgetting that you can actually get some decent real estate for $270K in some parts of the world …
N.J.
November 2nd, 2009
3:19 pm
Plltt. There is only so much LACK of intellect I can take,Marsh, so I need to recuperate from the sort of non thought out concepts right wingers bandy about here. Its a mess, but usually the result of all these messes is that they wanted a tax cut back then, which caused the economic mess later. This is always the case. You pay now, or you pay a lot more later. Either in cash, or loss in the value of your investments, the largest usually being your home.
I only know a few people who have come out on top from buying a home, in aggregate amount of money put into the house compared to increased value.
Angry Black Man
November 2nd, 2009
3:20 pm
@@
I guess that would be a yes. I’m right here along with BJ Mathis.
U-n-U
What can I say? Ladies love chocolate
DoggoneGA
November 2nd, 2009
3:20 pm
“Maybe she doesn’t know how to click on the blue words. ”
Are you kidding? More likely she ran screaming into the closet to suck her thumb. Facts are dangerous you know, they might cause you to lose your conned programming. Have to be avoided at all costs!
Marsh
November 2nd, 2009
3:24 pm
I just read some info on Baby Mamas at Sugarloaf. You won’t find any homes under $500,000 there.
AmVet
November 2nd, 2009
3:24 pm
ABM, as is Gwinnett.
My tongue in cheek point is that almost NO socio-economic class has been exempt from the fallout of this corporate destruction of capitalism.
Homes lost. Careers lost. The ability to pay the Hessians at the giant HMOs lost.
Everything gone.
And a future of pain for doing nothing wrong except trusting these paper shufflers.
Just how many Americans got shafted for working an entire lifetime to see these white collar thugs simply walk off with it?
And that repulsive Dick Cheney looks right in the camera and says, “Don’t blame Bush. Nobody saw this coming.”
??????!!!!!!!
How is that inveterate liar not in an 8 X 12?
And now BHO like his predecessor wants to “look forward”.
Economic justice? Holding these multi-nations accountble to the rule of law? Protecting the victims?
NO WAY.
He’s just gonna allow them to hide behind that giant American flag on Wall Street.
And if I could do one thing before I die, I would take that beuatiful red, white and blue Old Glory down and give to non-traitors and real patriots…
pat
November 2nd, 2009
3:25 pm
” Its a mess, but usually the result of all these messes is that they wanted a tax cut back then, which caused the economic mess later.” You complain about the lack of intellect of “right-wingers” and then you drop this gem of a quote!!! A tax cut caused the mortgage mess!!LOL! Nimrod.
USinUK
November 2nd, 2009
3:25 pm
midori –
I’ve never been so proud to be evil as I am after your 3:17 …
in fact, I’m so proud, I’m throwing down with Eartha
http://www.youtube.com/watch?v=SS02GeKuWQ4&feature=related
godless heathen
November 2nd, 2009
3:26 pm
The other side of the story.
http://www.businessinsider.com/the-cra-debate-a-users-guide-2009-6
pat
November 2nd, 2009
3:27 pm
Fulton and dekalb are like 3/4 Section 8. Foreclosures are down because they are out of property to foreclose upon.
Joey
November 2nd, 2009
3:27 pm
Foreclosures are increasing, but not to worry.
The recession is over.
Unemployment is about 10%, but do not worry.
The recession is over.
Forclosures of office, industrial and commercial projects are on the rise, but don’t worry.
Cause Federal spending is increasing, and the recession is over.
Angry Black Man
November 2nd, 2009
3:28 pm
AmV
100% in agreement with your last post. It’s amazing that you can run a company into the ground, cause thousands to lose jobs directly, indirectly cause thousands of others financial difficulty, but still feel that you deserve a multi-million dollar bonus for job performance. The bonus should be life in prison doing hard, manual labor.
Bosch
November 2nd, 2009
3:29 pm
Midori,
I too have no idea why conservatives fear books and intellect. To some, they are simply a means for a really cool bonfire.
Ya’ know, I know lots of people with alphabet after their names who don’t know crap about the world – I know lots who are really dumb. I know people who never graduated high school who are just as happy as plums and don’t give a rats patootie about how others live their lives- some of these people are very wise. My problem always comes from those who judge other people as bad or not as good as they are simply because they live differently or think differently – or those who pass judgement on others. I’m guilty of it too – I’ve told ya’ I have a bad prejudice against dumb asses!
@@
November 2nd, 2009
3:30 pm
ABM:
And I’m right here along with the RedDog, Eldrin Bell.
Since you mentioned your high-priced housing, I’m curious…
Heading over to Henry, I see new construction priced at $300,000. That same house (newly constructed) sells for $190,000. How can that be? There’s less than 7 miles between them.
Turd Ferguson
November 2nd, 2009
3:31 pm
Where most see crisis I see opportunity. Why use these foreclosed homes to house stray dogs/cats. Or perhaps open up neighborhood crack houses so we dont have to drive so far.
Then again these foreclosed homes could be turned into little revival churches or little McDonalds or BK lounge restaurants – oh btw BK lounge has double cheeseburgers for $1.00 so bring home a sackful.
Perhaps some sawdust floor bbq restaurants. Or neighborhood free daycares compliments of Obobo. Or retirement homes…just toss in a few invalids, get it, some food and water and YEA!
Or put the homeless in, let them burn them down and collect the insurance money.
There are just any number of options.
Angry Black Man
November 2nd, 2009
3:33 pm
pat
“Fulton and dekalb are like 3/4 Section 8.”
In the words of Mrs. G… Here’s your sign. I guess you’ve forgotten that North Fulton is still part of Fulton Co, and Dekalb still has areas around Emory and stuff.
Normal
November 2nd, 2009
3:34 pm
Midori
November 2nd, 2009
3:17 pm
Midori, who in the world said that??!!
Mrs. Godzilla
November 2nd, 2009
3:34 pm
Business Week vs. Business Insider
The Grudge Match
Community Reinvestment Act had nothing to do with subprime crisis
http://www.businessweek.com/investing/insights/blog/archives/2008/09/community_reinv.html
Turd Ferguson
November 2nd, 2009
3:36 pm
Where is Max Factor when he really is needed.
Turd Ferguson
November 2nd, 2009
3:36 pm
I will tell ya who is to blame. George W Bush. Yep.
Angry Black Man
November 2nd, 2009
3:37 pm
@@
I don’t understand it myself. My house was less than $150 when I purchased it in 2003. The next year the same house was being built in a subdivision right behind mine with minor cosmetic changes inside, and they sold for $230-$250. It also depends on location. They put a golf community Crystal Lake right down the road from me. I think that drove up the prices in this area.
@@
November 2nd, 2009
3:37 pm
Oops! That same house here in Clayton County sells for $190,000.
@@
November 2nd, 2009
3:39 pm
ABM:
The two developments (Henry’s and Clayton’s) went up at the same time, but still…the difference in asking price astounds.
mm
November 2nd, 2009
3:40 pm
Another rightwing talking point (lie) shot down. But everyone but the wingnuts knew this already. The poor didn’t cause the problem. It was the banks
USinUK
November 2nd, 2009
3:41 pm
ahhh … pat … you’re always good for a laugh … thanks for that …
(75% section 8 housing … hoooooboy … )
Angry Black Man
November 2nd, 2009
3:41 pm
@@
They’re selling the zip code too. I’ve never understood that, but it’s all about location.
Turd Ferguson
November 2nd, 2009
3:42 pm
Some of these foreclosed homes could be used for sporting events…set on fire and let come crazy motorcycle stunt man attempt to crash thru without getting killed. As an aside the the Moto-kamakazee one could have weeny roast before an after his/her death.
Raise money by allowing vandals to trash the foreclosed home. Charge them $5.00 for 30 seconds of “toss as many bricks thru the windows as possible”.
Let Obobo live in one…kinda how the other half lives and also increase his street cred at the same time.
Take a foreclosed home and rebuild the inside so it could be used as a public toilet/shower facility.
Use them as homes for wayward girls/boys and allow parolees to supervise.
Ripping out all the copper/appliances and selling “off-market” would help stimulate the economy.
Allow volunteer organizations to charge persons for their volunteer services to mow the lawn, paint etc.
Nothing Is Free
November 2nd, 2009
3:43 pm
Gosh. No conservatives on here today.
And just look at the talk. You let you guys go for a few hours and your true feelings come out and without any reason or logic to challenge your nonsense, you’ve all decided it was corporate greed that cost us our economy. USinUK said it was “only” 20% of all mortgages were subprime. Only 20%. LOL!!
Yep. It was definitely the evil rich folks who did it. That 20% meant no problem at all.
Gosh, a political mantra that has a power hungry bunch of millionaires that controls the media and tells everyone that the problem is the rich. er, the other rich. Not any of the millionaires that payroll the “party.”
Just the evil millionaires that the media tell you is evil.
And everybody nod their head and agree with the government and the media. Nothing has ever happened bad when that happens.
Yep, Yep, Yep, Yep, Yep.
Now where has this happened before. . . hmmm. I know I’ve heard that somewhere.
DoggoneGA
November 2nd, 2009
3:43 pm
“I don’t understand it myself. My house was less than $150 when I purchased it in 2003. The next year the same house was being built in a subdivision right behind mine with minor cosmetic changes inside, and they sold for $230-$250″
What it comes down to is people who truly do think “you get what you pay for” – that if the price is high, then it must be worth that price. And they just HAVE to live somewhere where the values are higher, as if that makes it somehow a “better” neighborhood.
Personally, I prefer to live right where I am…where values did not increase, even though there are 1/2 million dollar subdivisions all around me. But I paid $15,000 for my property 20 years ago, and when I attempted to refinance it (forget that, I have a double-wide) a couple years ago – my property still valued out at, you guessed it, #15,000. Keeps my property taxes LOW, let me tell you!
USinUK
November 2nd, 2009
3:44 pm
Mrs.G –
you silly thing … you know these numpties never met a meme they didn’t like …
pat
November 2nd, 2009
3:44 pm
Gee, this poll says democrats are stupider…The results were expected, no these folks don’t have an ax to grind.
http://www.weeklystandard.com/weblogs/TWSFP/2009/10/pew_political_iq_poll_republic.asp
Marsh
November 2nd, 2009
3:44 pm
Baby Mamas on Lanier is another ritzy neighborhood.
Turd Ferguson
November 2nd, 2009
3:45 pm
Well with all my great ideas/contributions of today Im ready for an afternoon power nap. Just worn myself to a frazzle.
Happy evening everyone and see ya tomorrow same bat time same bat channel.
Steven Daedalus
November 2nd, 2009
3:45 pm
Why isn’t Dick Chaney in jail?
USinUK
November 2nd, 2009
3:47 pm
NiF –
awwww diddums … does math scare you???
at their height, subprime mortgages were 20% of all mortgages granted – I’m sorry if facts frighten you, but that doesn’t mean you get your own reality
Nothing Is Free
November 2nd, 2009
3:49 pm
Rejoice!!!! Rejoice!!!!!
People in Gwinnett and Henry are suffering.
They are probably Republicans.
Good. They deserve to suffer. They probably won’t even “go along” with this administration when all it wants to do is help all mankind bu taking over the banks, GM anf the Health Care industry.
We don’t need to stinkin’ businessmen. WE NEED THE GOVERNMENT!!!!!!!
We don’t need no stinkin” doctors: WE NEED THE GOVERNMENT.
We don’t need no stinkin’ FOX News: WE NEED NETWORKS THAT “GO ALONG” WITH THE GOVERNMENT.
All Hail!!!! All Hail!!!! Let’s light the candles and praise the Government. All HAIL!!!!!!
Mrs. Godzilla
November 2nd, 2009
3:51 pm
weekly standard has no axe to grind……
hell, I’ll go musical this time
http://www.youtube.com/watch?v=qLm3HMG8IhM
DoggoneGA
November 2nd, 2009
3:51 pm
“does math scare you???”
Looks like it really, REALLY does!
Bosch
November 2nd, 2009
3:54 pm
I don’t know if math scares NIF, but something sure does – it looks like he needs to reboot!
Mrs. Godzilla
November 2nd, 2009
3:54 pm
Nobody beats Redneck Convert for sarcasm…..nobody or nothing
AmVet
November 2nd, 2009
3:55 pm
No Turd, he’s just the fool that threw gasoline on already gigantic fire.
WASHINGTON, Oct. 18, 2002 Less than three months ago, President Bush signed with great fanfare sweeping corporate anti-fraud legislation that called for a huge increase in the budget of the Securities and Exchange Commission to police corporate America and clean up Wall Street.
Now the White House is backing off the budget provision and urging Congress to provide the agency with 27 percent less money than the new law authorized.
Administration officials say their proposed increase is enough and that other budgetary needs, like the military and security against terrorism, make it impossible to afford more.
The decision has angered commission officials and Democratic lawmakers, who say that it reflects the administration’s calculation that corporate scandals have begun to recede as a political issue. They say that the administration’s more modest increase will not be able to pay for the expanded role of the agency, bring salaries up to levels at other financial regulatory agencies, finance the start-up costs of an accounting oversight board and significantly expand a staff that is already overwhelmed.
http://www.nytimes.com/2002/10/19/business/19SEC.html
And his always dupable Republiconned fans stood by and cheered his “ownership society” and this taking the SEC’s federal cop almost completely off the beat.
Until they too got burned.
Now only the more emboldened/delusional joke about it.
But I will not forgive them and their crony gangster capitalists and Wall Street criminals who had a BIG time friend in the White House.
When did the GOP become the anti-law and order party?
I guess I’ll never get an answer…
DoggoneGA
November 2nd, 2009
3:55 pm
“it looks like he needs to reboot!”
You can’t reboot tape recorders, they just aren’t sophisticated enough for that.
Bud Wiser
November 2nd, 2009
3:55 pm
I just saw where CBS is reporting that there is a virus on Facebook. It comes in the form of an official looking email from Facebook (not) that asks all members to recycle or set a new password.
Then the fun begins as the intruder now can access any personal info on your PC or Mac.
Word.
Bosch
November 2nd, 2009
3:56 pm
Good lord, I missed the newsflash – when did the government take over GM, the banks, and the health industry? I’ve been taking cold medicine, but I don’t think i was passed out that long!
Nothing Is Free
November 2nd, 2009
3:58 pm
USinUK
No, sweetie. Math doesn’t scare me. But someone who says that when 1/5th of all mortgages were not properly secured and that person offers that astronomic number of unsecured loans, tries to claim that those worthless loans had nothing to do with an economic collapse . . . that scares me.
What scares me more is when other people actually believe them. But considering what the democrats did to our school system in my lifetime, nothing really surprises me.
But just for fun, how many worthless loans do YOU think it would take to push a banking system into a near collapse? Would it take 1/4th? 1/2? 9/10th? Any clue?
booger
November 2nd, 2009
3:59 pm
Jay,
Was there a point here other than the stimulus plan isn’t working?
Mrs. Godzilla
November 2nd, 2009
4:02 pm
stimulus plan isn’t working…..signs, signs, everywhere there’s signs….
Nothing Is Free
November 2nd, 2009
4:03 pm
Bosch
When an entity decides who sets on the board of directors, that entity has taken over that industry.
When an entity decides who gets bonuses, that entity has taken over that industry.
Health care? Not yet.. But in spite of what is about to happen tomorrow, we will se that happen also.
Hey, but then we get Cap and Trade this winter so everything will be alright. We will just need to start paying “Carbon taxes” when we turn on our heat., We all have so much money, especially the poor and elderly.
Don’t you just La, la, la love this government?!