President Obama forces GM boss Rick Wagoner to step down

good point

 

a lot of people seem to think that those losing their homes are the over-extended, bought it all on credit, mcmansion types. while that is a lot of those losing their homes, it is by far not all.

a lot of good, hardworking, responsible, pay everything off every month kind of people are getting caught in this mess and losing everything, including their homes. people who had good jobs, bought ONLY what they could afford, and then because of the greed of others lost their job and now everything else. greed brought on by those willing to bend the rules, loan to people they knew could not afford the loan being given, etc. greed that brought down the housing market like a ton of bricks.

and the misconception that only lazy slobs that didnt want to pay for what they got are the ones in trouble is pissing me off!! this is why (warning: rant coming)...

i have a friend that lost their job due to the economy and the hit the industry they were in took. this person had always saved, bought a home that was what they could afford, payments that were well within the budget, paid all their bills off each month, did not live on credit, the whole responsible and financially sound citizen. they live in an area that the housing market and unemployment is now one of the worst in the nation. their home isnt worth nearly what they paid, even though they only bought a modest middle class house in an average nice middle class neighborhood. after a while the savings were drained from paying a mortgage and taking care of the family. only because this person is a hard worker and beat the bushes did they find another job, but at a small fraction of what they were making. we are talking living from paycheck to paycheck, stretching every dollar till it squeals, living on basics only, and giving up one car to save money. the car they still have is to get back and forth to the job. and the cut in income is so great they are still not able to make the full mortgage payment. if it comes to feeding the kids or making the mortgage payment, the kids get fed.

so now, the house has been foreclosed on because this person did everything they could to get the bank to refinance so that the house was valued at the value it is not instead of when they bought, but the bank wouldnt. that lower of a value would have lowered the mortgage payment enough to where with all the scrimping and saving and a bit of luck the payment could have been made each month. so in an area where housing prices have plummeted, there is a glut of forclose homes, and unemployment is high, the bank would rather have another empty forclosed house falling apart losing even more value, than to (god forbid) show a bit of empathy and common sense to a person that for all their life had excellent credit and paid all their bills, but is screwed by losing their job due to no fault of their own, but by the economy.

this is just one person, but someone i know. but there are god knows how many like them out there that are being f'ed over by greed and losing everything. so next time you get on your high horse about lazy slobs buying mcmansions on credit, and assume that those losing their homes and needing help shouldnt have bought in the first place, pull your head out of your asses. it is far from that.

im done.

/rant

 

Well said! :thumb:
watch out Okie, Sabanfan, Bandit88, and LSUdeek, will label you a pinko, anti-american, communist, socialist like me and Red55.

It's o.k. though, I can live with it. :lol:

 

Warren Buffet pays less taxes as a percentage of his income than his secratary, for just that reason.

 

The evil rich guy in your example is taking on a huge amount of risk by investing money in stocks. The money he invests infuses capital into the economy which drives growth. He gets taxed at a lower rate to incentivize his continued investment.

Maybe instead of being envious of the rich and priveledged blue collar folks should take advantage of the same tax advantages. You don't have to be rich to do so.

Instead of demanding the rich pay more for their capital gaines maybe you should be screaming about how the government rapes us of our W-2 income.

 

Warren Buffett also just lost half his wealth by providing capital that fuels our economy. Something tells me his secretary did not.

 

something tells me that he's not going to have to get food stamps or end up homeless, or renting a trailer, either

 

What has that got to do with anything?