Did you guys watch this today?

http://www.nbcchicago.com/news/busin...__Chicago.html

Interesting thoughts especially when I consider myself one that bought a reasonable home, pay/overpay my mortgage payments. What incentive am I getting for being responsible? I mean, I agree that something needs to be done.....Thoughts?

 

I honestly don't know who blame more, the idiots who wanted things they could not afford or the idiots who financed these people. I am not in favor of bailing out these companies at all, because if they screw up again, they will be expecting free money next time this sorta things happen.

 

Yeah it's pretty sad that we are forced to bail them out or else we put ourselves in a worse situation (i.e. Bear Stearns). BTW...I don't want to offend any of you guys that are in a tough situation. The subject is tough to contemplate from both side....I just wanted to see what you guys are thinking...

 

Steve no matter what we are SCREWED

 

As someone with a home and almost perfect credit I feel sympathy for these people, but I agree with this guy that they are the ones to blame for making bad decisions. Sure you can blame the banks and other mortgage companies if you want, but in the end it was people trying to make money by flipping houses and purchasing things they couldn't afford in the first place which caused this problem.

The only disagreement I have with this guy's rant and other negative comments about Obama's plan is when they don't provide a better alternative. It is easy to shoot holes into nearly any plan, but if you are forced to provide a new and better idea before you can speak up then I suspect we would see a lot more quiet people.

 

There is so many ways to look at this. Some do deserve the help that is being offered and many do not. I agree Steve where I was in this industry and took one heck of a pay loss in the past 3 years or so due to this mess but I havent missed a beat on 2 properties or anything for that matter. Where is my $$ for being on top of my stuff?? lol...

Sad thing is we havent seen the worst yet and its only going to get worse. My buddies where all about things being great and now they are calling crying because its so bad. I have a buddy that has his own business that is loosing about 30k per month!!! So many people are going to be out of work and its going to be very difficult to find something. I fear this since I am new in my industry and people are getting let go left and right or not making it.

At this point all we can do is hold on tight and do everything we can.

I hope everyone makes it through this