Tax Rebate Incentive Checks

[Moonliner]

Originally Posted by Kevy Baby

Does this mean you are only a partial pain-in-the-ass?

Oh trust me. I'm a full time pain-in-the-ass. Really. I have references if you need them.

[Kevy Baby]

Originally Posted by Moonliner

Oh trust me. I'm a full time pain-in-the-ass. Really. I have references if you need them.

I have a gut feeling I can trust you on this one.

[Cadaverous Pallor]

Originally Posted by Kevy Baby

I'm not conflicted at all. Caveat Emptor.

Yeah, buyer beware, but also Everyone Else Beware, because we're at the mercy of the stupidity of these buyers.

BTD may be right that this exact type of lending may not occur again (in living memory), but this isn't the first time that stupid financial practices by companies and stupid financial decisions by consumers have screwed everyone over. It will happen again and again, in some form.

[Kevy Baby]

Originally Posted by Cadaverous Pallor

Yeah, buyer beware, but also Everyone Else Beware, because we're at the mercy of the stupidity of these buyers.

BTD may be right that this exact type of lending may not occur again (in living memory), but this isn't the first time that stupid financial practices by companies and stupid financial decisions by consumers have screwed everyone over. It will happen again and again, in some form.

Speaking simply for myself (and myself only), I have suffered no ill effects of the mortgage fallout. In fact, I saw it coming and intentionally worked my way around it (intentionally did not buy a house, made sure that we were not extending ANY form of credit to our mortgage banking clients, etc.). Too many people took a huge risk with expectations of coming out on top and they are suffering the consequences of their (bad) decisions.

But I know that it has had an effect on the national economy and many MANY people. But the recession (or whatever you want to call it) that we are currently in is not just the fault of the mortgage business collapse. Our economy has its ebbs and flows and there will naturally be upturns and downturns. This too shall pass.

[Cadaverous Pallor]

Originally Posted by Kevy Baby

This too shall pass.

True, after thousands of stores are shuttered, tens of thousands of jobs disappear, hundreds of thousands lose their retirement through stock market instability (I have a coworker who is retiring that now realizes their stockpile isn't quite what it was 5 years ago), etc etc etc.

I'm seeing it at my job. I'm seeing us put a hiring freeze in effect, which means that empty positions will remain empty for now, meaning worse service, meaning more stress for those that stay on, meaning less jobs to be had in general. The hiring we absolutely need is going through still but that could change next year. Who's applying for the jobs? The flood of mortgage industry refugees, meaning it's harder for anyone to get a job. I see this and I think beyond my one specific instance to the countless instances across the country.

Yes, this all will pass, like floodwaters - with disaster in the wake.

If you think you aren't affected, you are wrong. You buy goods and services, you have a job of any kind, and you are affected. Perhaps not as badly as someone who worked for Countrywide and purchased an ARM, but still, you are affected.

I hate the fact that we have to regulate against stupidity. But we do. Stupidity is real and has obvious effects.