Forum Post: ACT NOW - 6 changes to fight for - good plan?
Posted 12 years ago on Oct. 4, 2011, 1 p.m. EST by ConcernedPhDstudents
(3)
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A good start? http://actnowplan.wordpress.com
To all those leading and following this grass-roots campaign and the fight for change, here's my two cents, a poster ( http://dl.dropbox.com/u/2124449/TooBigPosterWeb.jpg ) I dreamed up this morning. Share it widely; Goldman Sachs CEO Lloyd Blankfein will thank you ;-) Courage! FA Maitland, FL
The person commenting (who smartly signed up for a 30-yr mortgage) has a good point. But adjusting payments or revaluing mortgages for those caught in adjustable-rate deals (whether they were dumb or misled) will keep more people in their homes, lower foreclosure rates, and give the housing market a chance to move again, which might help everyone.
Some yes, some no.
REENACT GLASS-STEAGAL - YES!!!! Glass-Steagal was written so that the great depression didn't happen again. It separated the brokerages from the banks. When it was repealed (under Clinton, btw) - we got derivatives, toxic mortgages, leveraging to the tune of 100 to 1, etc. etc.
"adjust the amount owed on all adjustable-rate mortgages given out between 2004-2008"
that's great, give money to the poor and dumb. thank god idiots like you will never get their way.
TROLL
Actually, many of the 99% probably have a higher education than you. And while I don't believe they should get it for free unless the majority feels they deserve it, it isn't a bad ideal.
I'm sure they have a higher education than me. But I have a 30 year fixed mortgage because I know how to live within my means and I know how to read and understand a mortgage contract. Others CHOSE to buy dangerous loans. Why should they benefit from their ineptitude, while my responsibility is punished?
Benefit? They are homeless now. How would they be benefitting?
read the fuckin quote again. they have a mortgage, therefore they have a home.
if they were foreclosed on, no more mortgage.
jesus christ, learn to read.
Hahahahah