Quote of the Day
You have the effects of the MAB [Mutant Asset Bubble] implosion wrong. The MAB has hurt poor people greatly. If you go to subprime areas, you see that it is poor, working class people who were swindled by subprime brokers and are now losing their credit scores, their houses, and in many cases down payments…
You have the effects of the MAB [Mutant Asset Bubble] implosion wrong. The MAB has hurt poor people greatly. If you go to subprime areas, you see that it is poor, working class people who were swindled by subprime brokers and are now losing their credit scores, their houses, and in many cases down payments and closing costs. This is very serious. In addition, all the empty, boarded up houses just encourage crime and destroy the property values of their neighbors’ houses. In sum, poor people were screwed on the way up and they’re being screwed on the way down. The rich are not going to suffer as much.
— by mopar in Last Week’s Biggest Sales
“only after The What absolutely trounced you on the facts that you all started to comment on his rudeness, etc., and for this you are nothing but intellectual cowards.”
Yes, you’ve got our number, we only started to comment on his rudeness after October ’08.
Wait a minute – wasn’t that after he had already been banned once from Brownstoner for rudeness and incivility and threatening violence and had to come back with a different name – the “return of the what”.
darn facts.
“Forget about who “was more than happy to facilitate” the crime of overborrowing (banks, brokers). The crime was committed by the BORROWERS. If you borrow money and don’t pay it back, you screw the person who lent it to you. If it can be proven deliberate, it is fraud.
I will probably lose my financial job this year because a bunch of flunkies had to have the awesome kitchens that their friends had.”
This is the QOTD!
” but I also remember my mother being haunted by the Great Depression and the Holocaust as well.”
Bxgrl can you please set this story strait. The Great Depression happen in the US 1229-1933 and the “Holocaust” (There was many so I guess you mean the one that happen in Europe).
“Preying on the fact that a lot of people are ignorant, ill-informed, ill-educated, and generally not good with money in order to try to fatten one’s own pockets is equally worthy of punishment”
Oh no!!!! The foundation of the Mutant Asset Bubble was ** DRUM ROLL*** Greed and Delusion!
Now the payoff..
“You have the effects of the MAB [Mutant Asset Bubble] implosion wrong. ”
I do?? I think my performance speaks for itself..
The MAB has hurt poor people greatly. If you go to subprime areas, you see that it is poor, working class people who were swindled by subprime brokers and are now losing their credit scores, their houses, and in many cases down payments and closing costs.
The Assheads beLIEve the hype of the MAB. Just buy a house and your rich! They had Mortgages for Retards to fulfill those dreams but now it’s a nightmare no one wants to accept responsibility , give me a break….
This is very serious. In addition, all the empty, boarded up houses just encourage crime and destroy the property values of their neighbors’ houses. In sum, poor people were screwed on the way up and they’re being screwed on the way down. The rich are not going to suffer as much.”
OOOHHHH Remember the Asshat Movement?? Those Assnuts live in those Neighborhoods now and I wonder whats going to happen to property values…
Brownstoner there was better quotes….
The What
Someday this war is gonna end…
Sorry to interrupt the lovefest, but a little history on Team Bull, courtesy of a “loon.” Eighteen months ago: Buy this house, it’ll be worth 8 million in 2012! One year ago: Wake up! Housing prices never go down! Six months ago: Um, Brooklyn is different? Today: Can you believe the character of these people, cheering on a Great Depression?
I for one am sick of you moving the goalposts every time you lose an argument –whose terms are fixed and clear –on the specifics of Brooklyn real estate prices. As a last refuge, you have chosen to moralize the bearishness of the bears –it’s classic shoot the messenger, and you ought to be ashamed. It was only after The What absolutely trounced you on the facts that you all started to comment on his rudeness, etc., and for this you are nothing but intellectual cowards. DIBS, your total ignorance never ceases to amaze me, but in your comment about Reagan –in the face of Obama’s overwhelming approval numbers –you outdo yourself as a hubristic dimwit. A pox on all your overlevered houses, which the taxpayer now has the great privilege of subsidizing.
Joe, I don’t watch much TV. Can’t you tell by my over-liberal comments?
My comments are based on actual experience. I am hunting for a house in a subprime area and I am constantly meeting people who are working-class immigrants in their 50s (grocery store checkers, etc.) who are close to foreclosure. They don’t speak English. They are humble, hardworking, modest people. There is no way in hell they were gaming the system.
It’s what cw said: They were taken advantage of.
In late 2007, I met a contractor/flipper who bragged about being part of deals where the real estate agent filled out all the paperwork for non-English speakers. The implication was the agent faked the numbers.
My mother’s house cleaner in California, also an immigrant, bought a house she could afford and no one told her the ARM would reset. In California, you don’t use a lawyer.
How many people would knowingly buy a house they knew they couldn’t pay for? Maybe flippers.
oh — cw I meant the original comment. I dunno, I’m not rich — but I do feel sorry for my 50 year old cousin who can’t retire. definitely not poor but played by the rules and did what suze orman said, and is now looking at retiring on 1/2 X
wasd yeah that’s my point, there’s just no way to compare the situations. I don’t feel sorry for the Prince. Otherwise, bummer all around.
cw yes! I too am disgusted that even now it’s just a big puppy shopping trip to these people!
“so if we sign the goofy mortgage we get the place with the pool? sweet!”
bxgirl I bought this ugly sportcoat at Paul Smith for 400 bucks, and the guy there said that it fit and looked great, and I trusted him because he was clearly gay. Now I know that it was always ugly. I don’t know… who’s to blame. I think I am.
Benson, thanks! I missed your comment the other day. This is seriously addictive and if I keep this up I promise I’ll be unemployed soon, but I just can’t resist pulling the pin on a big comment-grenade and rolling it in.
You used “scapegoat” in your 5.13 post. Sorry, should have referenced it.
ditto–as much as I want to go there with you I am not getting your “eggcorn” reference. Does it have anything to do with the swahili-speaking woodchuck the What is friends with?
I don’t recall ever saying that rich people have been hurt less. They’ve certainly been hurt badly by the crashing economy.
It’s nonetheless difficult to feel as sorry for the guy who even after his investments have come crashing down, still has *vastly* more money than I do, as opposed to the person who’s now living on government cheese.