Comments on: $1.1 Trillion in Toxic Loans: $908 Billion in Interest Only and $198 Billion in Option ARMs. The Zombie Loans that Simply Don’t Die. http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 31 Jul 2010 22:55:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Chipchick http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/comment-page-1/#comment-40030 Chipchick Mon, 14 Sep 2009 17:31:17 +0000 http://www.doctorhousingbubble.com/?p=2350#comment-40030 Madguru, just because "everyone else is doing it" doesn't make it RIGHT. I used to hear this a lot as a youngster, from my mother who lived through the GD in the 30's. Those that in the end succeed, are those who have integrity and some grasp of caring about their obligations. I've seen it a hundred-fold. I'm not saying there aren't people out there who don't care, there are, a LOT of them. I work with one who is whining about having to pay off his wife's CC bills, and he's negotiation a Chapter 11 right now. Shameful. All that had to be done was to cut off her credit lines and separate himself from the credit lines legally, since her name was not on the deed of the house he owns. So he is instead going to "screw them all" (In his words) which makes me furious because he's screwing ME. He lives in a bigger house than I do, has more cash, better cars, etc. But I know that in the end, I'm going to do better because I'm unencumbered financially to any institution. I can simply walk away from them and their money changing slight of hand practices. I can say "NO" I think this is going to have a big backlash - it has to. The movement will be to limit credit a lot more for those who do go bankrupt. Already CC's are carrying warnings on the applications of "If you have declared bankruptcy, don't bother to apply". This easy re-credit will dry up due to the sheer magnitude of the problem,and those who did this will find it a lot harder to repeat it in the future. As for now, there's nothing we can do but stand by and let the house of cards collapse and pray it doesn't take yours down with it. Violence is NEVER the answer. What it the answer is peaceful demonstrations and voting with your cash. Pick wisely who you do business with! Madguru, just because “everyone else is doing it” doesn’t make it RIGHT. I used to hear this a lot as a youngster, from my mother who lived through the GD in the 30’s. Those that in the end succeed, are those who have integrity and some grasp of caring about their obligations. I’ve seen it a hundred-fold.
I’m not saying there aren’t people out there who don’t care, there are, a LOT of them. I work with one who is whining about having to pay off his wife’s CC bills, and he’s negotiation a Chapter 11 right now. Shameful. All that had to be done was to cut off her credit lines and separate himself from the credit lines legally, since her name was not on the deed of the house he owns. So he is instead going to “screw them all” (In his words) which makes me furious because he’s screwing ME.
He lives in a bigger house than I do, has more cash, better cars, etc.
But I know that in the end, I’m going to do better because I’m unencumbered financially to any institution. I can simply walk away from them and their money changing slight of hand practices. I can say “NO”
I think this is going to have a big backlash – it has to. The movement will be to limit credit a lot more for those who do go bankrupt. Already CC’s are carrying warnings on the applications of “If you have declared bankruptcy, don’t bother to apply”. This easy re-credit will dry up due to the sheer magnitude of the problem,and those who did this will find it a lot harder to repeat it in the future. As for now, there’s nothing we can do but stand by and let the house of cards collapse and pray it doesn’t take yours down with it.
Violence is NEVER the answer. What it the answer is peaceful demonstrations and voting with your cash. Pick wisely who you do business with!

]]> By: EverEvolving http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/comment-page-1/#comment-39986 EverEvolving Sun, 13 Sep 2009 20:32:51 +0000 http://www.doctorhousingbubble.com/?p=2350#comment-39986 Oh Robin, I never asked you to take back anything you said. This is a public forum; only the Site Owner can set the rules, not me. Do you honestly think the denizens of the Ivory Towers give a da*n if we devolve into violence? Do you really think any of them can easily be picked off? Violence just gives them "die-off" of the "rabble". And the First-Responders, with their newly-slashed budgets are the ones that end up as undeserving targets/collateral damage. The dastards will just watch us on their big screens and giggle. Times have changed; the hearts of the Defrauding Marauders and their Pocket Politicians live in their wallets. Find the ways to attack the fat wallets and you punish them. And if you can do it without sinking into the mire of moral hazard, you win. Oh Robin,
I never asked you to take back anything you said. This is a public forum; only the Site Owner can set the rules, not me.
Do you honestly think the denizens of the Ivory Towers give a da*n if we devolve into violence? Do you really think any of them can easily be picked off? Violence just gives them “die-off” of the “rabble”. And the First-Responders, with their newly-slashed budgets are the ones that end up as undeserving targets/collateral damage. The dastards will just watch us on their big screens and giggle.
Times have changed; the hearts of the Defrauding Marauders and their Pocket Politicians live in their wallets. Find the ways to attack the fat wallets and you punish them. And if you can do it without sinking into the mire of moral hazard, you win.

]]> By: LA-Architect http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/comment-page-1/#comment-39984 LA-Architect Sun, 13 Sep 2009 19:43:14 +0000 http://www.doctorhousingbubble.com/?p=2350#comment-39984 Robin Thomas.... in suggesting that you would be more at home at some "right wing extremist" blog, I was merely responding to your comments, one of which, "Truly, if you executed all of them, the world would be a better place and we could start over" followed up with "I still have hope that some lone sniper will pick just a few of these bastards off…" Our words and actions are described by others with certain adjectives that fit the tone and intent. I don't see anything that I've written placing me in some "Left wing Extremist" camp. If you don't wish to be described as some lunatic fringe, pay attention to what you're writing!!! Keep the violence out of your blogs! Robin Thomas….

in suggesting that you would be more at home at some “right wing extremist” blog, I was merely responding to your comments, one of which, “Truly, if you executed all of them, the world would be a better place and we could start over” followed up with “I still have hope that some lone sniper will pick just a few of these bastards off…”

Our words and actions are described by others with certain adjectives that fit the tone and intent. I don’t see anything that I’ve written placing me in some “Left wing Extremist” camp. If you don’t wish to be described as some lunatic fringe, pay attention to what you’re writing!!! Keep the violence out of your blogs!

]]> By: Robin Thomas http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/comment-page-1/#comment-39981 Robin Thomas Sun, 13 Sep 2009 16:40:11 +0000 http://www.doctorhousingbubble.com/?p=2350#comment-39981 Ever, I won't take back a word I said. The bad guys are not paying for their crimes. If some dude who has been laid off and foreclosed on selectively picks off a few of the bad guys I'd cheer him on. Absolutely. Better that than shooting your entire family, which I don't understand at all. The bastards in power have people focused on trivialities while they plunder our tax dollars and debase our currency. Furthermore....there was less at stake in the 60's and people were crazy in the streets. Now, the very survival of our country is in doubt, and people sit home and watch Idol. It's ridiculous to claim that I'm "inciting" anybody when anybody with BRAIN is already furious. Ever,
I won’t take back a word I said. The bad guys are not paying for their crimes. If some dude who has been laid off and foreclosed on selectively picks off a few of the bad guys I’d cheer him on. Absolutely. Better that than shooting your entire family, which I don’t understand at all. The bastards in power have people focused on trivialities while they plunder our tax dollars and debase our currency.
Furthermore….there was less at stake in the 60’s and people were crazy in the streets. Now, the very survival of our country is in doubt, and people sit home and watch Idol.
It’s ridiculous to claim that I’m “inciting” anybody when anybody with BRAIN is already furious.

]]> By: Kid Charlemagne http://www.doctorhousingbubble.com/1-1-trillion-in-toxic-loans-908-billion-in-interest-only-and-198-billion-in-option-arms-the-zombie-loans-that-simply-dont-die/comment-page-1/#comment-39977 Kid Charlemagne Sun, 13 Sep 2009 13:25:54 +0000 http://www.doctorhousingbubble.com/?p=2350#comment-39977 @Robin I think you're right. If won't at least voice our anger, nothing will happen. Ben Franklin told us not to let the Khazars in, but we did. Just a matter of time before they took control of everything, while we think we have freedom. Freedom to work like a slave to survive. Freedom to worry about who's going to take everything we have and throw us out on the street. ...Freedom's just another word for nothing left to lose...we're almost there... @Robin
I think you’re right. If won’t at least voice our anger, nothing will happen. Ben Franklin told us not to let the Khazars in, but we did. Just a matter of time before they took control of everything, while we think we have freedom. Freedom to work like a slave to survive. Freedom to worry about who’s going to take everything we have and throw us out on the street. …Freedom’s just another word for nothing left to lose…we’re almost there…

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