Monday, September 22, 2008

Mortgage Mess

Sometimes I have to scratch my head and wonder just what has happened to the banking in this country. Back when we desperately wanted a mortgage, banks wouldn't touch us because we were a one income family. What changed?

Part of the problem of course is the eternal culture of keeping up with the Smith's and Jones'. Part of it is the inability to delay gratification and teach our children to do so. Part of it is our inability to save even one dime from our paychecks. What happened?

My grandparents saved their pennies, spent wisely, and lived thriftily. My step-mom pinched pennies so tight she could make them screech. The house hunk and I (after many years in debt) live a cash and carry lifestyle. Frankly, if I have anything to say about it, we'll never live any other way.

There is an overwhelming culture of greed in this country. Corporations, government, the oil industry in particular are all more interested in making money that turning our country around. Now that the banks and corporations have reached rock bottom, we're supposed to bail them out. That's right--you and me. So, here's my question. If it's my money propping up the financial district, shouldn't those folks have to give me an IOU? And when they get back on their feet and they're taking in money hand over fist, shouldn't they have to pay me back? Isn't that the way it works when you borrow money?

After all, if I borrow money from them, I have to pay them back. Maybe after a certain point all the taxpayers should start calling them and ask them when they're going to make a payment. You know what I'm talking about--like those creepy bill collectors that call you all hours of the day and night wanting to make arrangements for a payment. What if we all started calling the White House and the Congress demanding to know what they're doing with our money?

After all, this buy out is going to cost all of us $3000 per person. So I want my money back--with interest.

anny

5 comments:

  1. That is how it ought to be, but it is not, since there is no transparency or accountability when a corrupt government rules the nation.

    With over 350 million $ being 'burned' per day, in a fake war, that goes on endlessly, ( & which is in fact a method of keeping a political agenda alive) I would call upon the people to take charge and show them that ultimately, the masses are no fools.

    But if the masses are really fools in majority, they get the government that they deserve! ( by the very definition of 'Democracy').

    What 'used' to be Democracy, has metamorphosed into Oligarchical Collectivism.

    Whether it be in the US or in India...

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  2. I'm not holding my breath on the return of money with or without interest. Once the government gets a taste of how much money it can suck out of AIG now that they have control over it, I'd bet dimes to dollars we several other companies "Bailed out".

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  3. you are so right, ANny. And that's sooooo not gonna happen.

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  4. We live in a culture of GET IT NOW and that has to change. From the beginning of our marriage until now, we don't buy something we can't safely make payments on. It's just common sense. Great post, Anny.

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