SD Jarhead Posted July 29, 2008 Share Posted July 29, 2008 This reminds me of a saying an old Colonel I worked for used to say: "Life's hard, but it's even harder when you're stupid". Link to comment Share on other sites More sharing options...
Chef Jim Posted July 29, 2008 Share Posted July 29, 2008 This reminds me of a saying an old Colonel I worked for used to say: "Life's hard, but it's even harder when you're stupid". Oh I disagree. It's harder when you're smart because you have to endure all the stupid people. I only know that because I read it someplace. Link to comment Share on other sites More sharing options...
USMCBillsFan Posted July 29, 2008 Share Posted July 29, 2008 I remember that the "Ellen" show had a contest for a Quizno's franchise a few years back. The franchise was won by a local family -- the shop opened just down the street from my office in Rocky River. The Quizno's shop closed about a year later. You watch Ellen? Link to comment Share on other sites More sharing options...
justnzane Posted July 29, 2008 Share Posted July 29, 2008 poor people are stupid. Wow, that is very insightful , and pretty insulting to me at the least. I am broke as sh-- right as i have to wait for my first paycheck until the end of august. Now, I just got a job that pays pretty decent, so the way I see it is that i have to suffer a little in the short to benefit in the long term. But since I am a poor person, who is living off of the ~$100/wk settlement that I have, I guess I am an uneducated fool that will run my life and finances into the ground . Link to comment Share on other sites More sharing options...
Chef Jim Posted July 29, 2008 Share Posted July 29, 2008 Wow, that is very insightful , and pretty insulting to me at the least. I am broke as sh-- right as i have to wait for my first paycheck until the end of august. Now, I just got a job that pays pretty decent, so the way I see it is that i have to suffer a little in the short to benefit in the long term. But since I am a poor person, who is living off of the ~$100/wk settlement that I have, I guess I am an uneducated fool that will run my life and finances into the ground . He didn't say uneducated. He said stupid. Link to comment Share on other sites More sharing options...
mead107 Posted July 30, 2008 Share Posted July 30, 2008 The problem is not with the people that own the house . It is with the bank . How STUPID can you be to loan these people money >. They had !@#$ING sh-- before the house . Then the bank loans them money ???? The bank should take it in the ass for that . Now we are going to save the banks and stupid people for taking out and giving loans out that shoulld have never have been approved . Wait till we have to bail out the oil commodity treaders . Link to comment Share on other sites More sharing options...
justnzane Posted July 30, 2008 Share Posted July 30, 2008 He didn't say uneducated. He said stupid. I know, I was playing on the stereotype. Link to comment Share on other sites More sharing options...
mcjeff215 Posted July 30, 2008 Share Posted July 30, 2008 The problem is not with the people that own the house . It is with the bank . How STUPID can you be to loan these people money >. They had !@#$ING sh-- before the house . Then the bank loans them money ???? The bank should take it in the ass for that . Now we are going to save the banks and stupid people for taking out and giving loans out that shoulld have never have been approved . Wait till we have to bail out the oil commodity treaders . Qualification: I know Stojan about banking. I don't really blame the bank, honestly. A mortgage is a secured loan. Isn't it a low risk move on the part of the bank to loan them them the cash up to a certain percentage of the value of the house? If they default, the loan is easily covered in auction. It's not the bank's job to protect people from themselves. If it was an unsecured line of credit or a loan, then the bank is the one assuming the risk (and therefore deserves to take it in the ass in the event of default). They had the assets to qualify for the loan, the bank doesn't (and shouldn't) give a damn where they got it from? Link to comment Share on other sites More sharing options...
KD in CA Posted July 30, 2008 Share Posted July 30, 2008 The problem is not with the people that own the house . It is with the bank . How STUPID can you be to loan these people money >. They had !@#$ING sh-- before the house . Then the bank loans them money ???? The bank should take it in the ass for that . The bank loaned money against a hard asset. What's the problem? The loan was not repaid so they took the house. I don't understand why people get upset when the process works the way it's supposed to. Now personally, I like your idea of not lending money to stupid people, but then we'd have to hear the endless whining about 'discrimination'. Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 30, 2008 Share Posted July 30, 2008 I can't stand that show. They find the biggest sob story and play it for ratings. All of those staged conversations with that fruitcake Ty... "Life is hard, I know, give me a hug." Please. It's not what they're doing that I have a problem with, it's how they do it. They go to such pain to make it *look* like it's totally about helping these poor families out. Private "tell me how it is" conversations and 'Go Team' high-fives and all. Playing on America's heart strings... not a good thing at all. I've only ever given the show a cursory look after they featured some people near us, but if you ever want to get a good laugh at their expense, watch the end of "Road Hogs." They make over a biker bar that got blown up, and I personally thought it was hysterical how they were able to poke fun at themselves when they rebuild the bar and all the bikers are crying as they walk through the new building. Seriously funny stuff. Link to comment Share on other sites More sharing options...
mead107 Posted July 30, 2008 Share Posted July 30, 2008 THE PEOPLE HAD NOWAY of paying it back . The bank is the one that needs to think about who they LOAN MONEY TO ? If the people have no job HOW CAN THEY PAY BACK THE LOAN > Do you like giving the bank extra money for giving out stupid loans that they KNOW will not work . That is how banks fail . Link to comment Share on other sites More sharing options...
buckeyemike Posted July 30, 2008 Share Posted July 30, 2008 You watch Ellen? No way...but it was all over the news here. Link to comment Share on other sites More sharing options...
Ramius Posted July 30, 2008 Share Posted July 30, 2008 THE PEOPLE HAD NOWAY of paying it back . The bank is the one that needs to think about who they LOAN MONEY TO ? If the people have no job HOW CAN THEY PAY BACK THE LOAN > Do you like giving the bank extra money for giving out stupid loans that they KNOW will not work . That is how banks fail . Ummm, not sure what you are getting at? The people borrowed the money against their own house. So when they cant pay it back, the bank takes the house, as they did, and will sell the house at auction, re-couping at least some, if not all of the money. How exactly is is this causing the bank to fail? Link to comment Share on other sites More sharing options...
bobblehead Posted July 30, 2008 Share Posted July 30, 2008 I would advise everyone to stop wasting their time on this story, scroll down that page a bit and read up on the Italian Friar who fronts a metal band. Here Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted July 31, 2008 Share Posted July 31, 2008 I don't even mind them cross promoting, its what they need to do to keep costs down so the show doesn't bankrupt themselves My problem is the idea of building these people who are struggling maintaining an average size home with their family, they decide to build them some huge mansion thats going to cost them alot more in upkeep, instead of building them something reasonable that they can afford to maintain The entire show now is just trying to constantly top itself with the most depressing story to get a home BINGO! Also... Isn't it in Financial Lesson 101: What to do and not to do? You don't borrow money against your house or retirement to venture into business endeavours or play the stock market. Link to comment Share on other sites More sharing options...
Lori Posted July 31, 2008 Share Posted July 31, 2008 The problem is not with the people that own the house . It is with the bank . How STUPID can you be to loan these people money >. They had !@#$ING sh-- before the house . Then the bank loans them money ???? The bank should take it in the ass for that . Now we are going to save the banks and stupid people for taking out and giving loans out that shoulld have never have been approved . Wait till we have to bail out the oil commodity treaders . Why was the bank's decision stupid? Hey, they got a cool house out of the deal. Now, if they have a problem selling it, that's another thing ... Link to comment Share on other sites More sharing options...
bartshan-83 Posted July 31, 2008 Share Posted July 31, 2008 Ummm, not sure what you are getting at? The people borrowed the money against their own house. So when they cant pay it back, the bank takes the house, as they did, and will sell the house at auction, re-couping at least some, if not all of the money. How exactly is is this causing the bank to fail? I'm no expert, but it seems that its not the theory part of the equation that's the problem, it's the practice. IF the bank can recoup everything then everything is smooth. But if I'm a bank, I don't want to be holding the deed to a house in this shtty market anymore than anyone else. If you had the means to lend someone money for a house right now, would you lend it to someone who was a pay-back risk knowing that your security is an asset that is extremely difficult to recoup value on at the present time? I'm probably oversimplifying something that I don't know enough about, but that's how I look at it... Link to comment Share on other sites More sharing options...
apuszczalowski Posted July 31, 2008 Share Posted July 31, 2008 I'm no expert, but it seems that its not the theory part of the equation that's the problem, it's the practice. IF the bank can recoup everything then everything is smooth. But if I'm a bank, I don't want to be holding the deed to a house in this shtty market anymore than anyone else. If you had the means to lend someone money for a house right now, would you lend it to someone who was a pay-back risk knowing that your security is an asset that is extremely difficult to recoup value on at the present time? I'm probably oversimplifying something that I don't know enough about, but that's how I look at it... I'm going through the process here to buy a house right now, and although when you think of it as "Well they will just take the house back if you can't pay" it never works like that. The Banks do take risks when giving you a mortgage and are supposed to look at what you make before determining what they can give you. Otherwise why won't the bank give me a million dollar mortgage? If I can't pay, they just take the house back and destroy my credit. I think in this case thousgh, the bank is partly at fault for loaning money to people who probably couldn't afford to pay it back, but I'm guessing the mortgage they took out was not on the full value of the house, so when they do take the house, they are actually gaining because they now have a house worth more then what the mortgage is worth and can see it for what they are owed and have a quicker sale cause they are selling at way bellow its actual worth. Link to comment Share on other sites More sharing options...
bartshan-83 Posted July 31, 2008 Share Posted July 31, 2008 but I'm guessing the mortgage they took out was not on the full value of the house, so when they do take the house, they are actually gaining because they now have a house worth more then what the mortgage is worth and can see it for what they are owed and have a quicker sale cause they are selling at way bellow its actual worth. Yeah, agreed...that's the X factor as well as how much the mortgage was paid back. Hopefully (for the bank) that cushion will absorb any loss on the auction. I was assuming a lot with my post...I don't know any of those facts. It was more of a general statement. Link to comment Share on other sites More sharing options...
Buffaloed in Pa Posted July 31, 2008 Share Posted July 31, 2008 Why was the bank's decision stupid? Hey, they got a cool house out of the deal. Now, if they have a problem selling it, that's another thing ... Exactly what I was thinking. Link to comment Share on other sites More sharing options...
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