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Center for American Progress Senior Fellow Dr Christian Weller appeared on CNBC to discuss subprime mortgages and how consumers can protect themselves. For more on subprime mortgages and foreclosure rates please see: www.americanprogress.org What if 40 hours a week were enough? www.AMERICANPROGRESS.org
Real Estate Woes: Subprime Mortgages Are a Ticking Timebomb
November 21st, 2009 
Pete 
Posted in Uncategorized 
Tags:
guess what american childrens going to say for Halloween ?
surprise ? noo SUBPRIMES LOOOOL
The savings habits of this country suck. Credit cards are like dope once your hooked
try to get off when Bush and his big corporation butt buddies are sending all the jobs overseas.But then look at the government
and how they have managed money with Bush and
the congress spending it like crazy on another
unnecessary war which only benefits the large
corporations. Makes you sick. We’re so fucked.
Freakin’ chip board and knock on walls–it’s HALLOW.And the price the’re asking.IF enough people will say–we’re NOT buying this junk for this PRICE.Then they will adjust their RIGHT PRICE.But.bec there’s too many succers.need i say more!
In debt? Suffering a foreclosure? Work too hard not making ends meet and still wondering why? Discover the secrets why the rich get richer but the rest of us work like slaves. See google video “Money as Debt”.
It’s not just people getting loans they will never repay. We have a weak dollar and the whole economy is going to collapse.
Funny how the wankers on Wall Street are all for deregulation when it allows them to game the system but when things go tits up as a result of their scams they’re the first to cry for governmental intervention to save their gutless asses. Lending restrictions exist for a reason.
Stop the banks from throwing mortgages and credit cards at people.
And stop stupid people from getting loans they know they can never repay.
This epidemic of greed and irresponsibility has got to stop.
People are buying homes they can’t afford. End of story.
Who loaned them the money? By the way, employment was down in August for the first time in four years – Countrywide announced 10000 layoffs… after the market closed of course. Get the picture?
Subprime BORROWERS are the ticking time bomb. PAY YOUR PAYMENTS PEOPLE!!!!
Think Rome, the fall of the Roman empire.
So they are likely to work under the table, NOT consume at all, NOT buy stock , NOT have savings in the bank, nor a 401K ..so the answer is until the DEVIL that passed the BANKRUPTCY LAW FIXES THINGS the STOCK MARKET will NEVER recover. NO RELIEF FOR THE PEOPLE NO RELIEF FOR THE MARKET. I cant believe those dumb ees CANT FIGURE THAT OUT!!! That’s ignorant for congress to think the middle class don’t count!
So after someone who barely makes enough money to pay a house pmt with a subprime rate loan
gets garnished for like a medical bill or old cell phone ect.. then comes foreclosure, then the debt is sent to attys office. They obtain a Jmt on the borrower. Then they lose their house & countrywide attys put a jmnt lien on the borrower/victim & IF they continue to work they get garnished for the home they lost in foreclosure.
Let me tell you what I know. Countrywide & the others carelessly loaned money to people/victims who didnt qualify with subprime rates. but BEFORE that SOMEBODY made it impossible for people who get in a financial bind to escape it by passing that HEINOUS BANKRUPTCY LAW. There is absolutely NO relief for the middle class or young people who get in debt. I dont know if I would work if I had 25% of my check garnished every week
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