Comments on: Subprime mortgage collapse impact widespread http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/ Musings on politics: anti-war, global warming, peak oil and otherwise Wed, 15 Oct 2008 22:20:34 +0000 http://wordpress.org/?v=abc By: Bob Morris http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118811 Bob Morris Sun, 01 Apr 2007 03:00:25 +0000 http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118811 What we are seeing is a deliberate transfer of wealth from the poor and middle class to the wealthy. <a href="http://www.npr.org/templates/story/story.php?storyId=9248739 ">Subprime mortgages</a> started and encouraged by Wall Street Please keep blogging ConnecticutMan, you are needed. Everyone else, check out <a href="http://drinkliberal.blogspot.com/" rel="nofollow">his blog</a> What we are seeing is a deliberate transfer of wealth from the poor and middle class to the wealthy.

Subprime mortgages started and encouraged by Wall Street

Please keep blogging ConnecticutMan, you are needed. Everyone else, check out his blog

]]> By: Connecticut Man1 http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118798 Connecticut Man1 Sun, 01 Apr 2007 02:41:11 +0000 http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118798 After jumps from $1600 per month to $2500 per montgh we were just informed that our ARM will got to $2900 per month... We have been living the losing end of this nightmare the last couple of years and are throwing in the towel. We were gold until we went to refinance our ARM and Countrywide Mortgages played games with us. They fucked us over BIG time. And add to that the slide, we just can't keep up with the increases. Live and learn... After jumps from $1600 per month to $2500 per montgh we were just informed that our ARM will got to $2900 per month… We have been living the losing end of this nightmare the last couple of years and are throwing in the towel.

We were gold until we went to refinance our ARM and Countrywide Mortgages played games with us. They fucked us over BIG time. And add to that the slide, we just can’t keep up with the increases.

Live and learn…

]]> By: dj http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118423 dj Sat, 31 Mar 2007 15:23:50 +0000 http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118423 We should remember that the alleged recovery from Bush's recession was almost entirely fueled by the hosing market. (Or did I mean housing?). Like everything else the man has done, he did it on credit. Indeed, he used all the usual Kenesian tools (credit, big spending, tax cuts, and war). But Keynesian economic liberalism was discredited in the 1970s, and it isn't working now either. Should we be surprised that Greenspan is warning that another recession is imminent? (See http://www.truthdig.com/eartotheground/item/20070226_greenspan_forecasts_recession/) We should remember that the alleged recovery from Bush’s recession was almost entirely fueled by the hosing market. (Or did I mean housing?). Like everything else the man has done, he did it on credit. Indeed, he used all the usual Kenesian tools (credit, big spending, tax cuts, and war). But Keynesian economic liberalism was discredited in the 1970s, and it isn’t working now either. Should we be surprised that Greenspan is warning that another recession is imminent? (See http://www.truthdig.com/eartotheground/item/20070226_greenspan_forecasts_recession/)

]]> By: Thomas Ware http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118416 Thomas Ware Sat, 31 Mar 2007 15:20:01 +0000 http://polizeros.com/2007/03/31/subprime-mortgage-collapse-impact-widespread/#comment-118416 As anyone who has survived an industry downturn or destruction, for example the timber industry here in Cascadia, would know, <i>should</i> know, it's the only trickle-down economic model that actually works. As anyone who has survived an industry downturn or destruction, for example the timber industry here in Cascadia, would know, should know, it’s the only trickle-down economic model that actually works.

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