Poll: Americans oppose the bailout of subprime
Congress is considering a plan to rescue mortgage, but most Americans agree its wrong approach by a margin of 2-1. The housing market is adjusting to an oversupply of housing and the failure of some subprime borrowers to meet their mortgage agreements. After years of sustained growth in house prices and a historic expansion of the property, a market correction is expected. Rather than improve the situation, government intervention could distort the natural correction and prolong the uncertainty and turmoil in the housing market. Americans understand this and believe that the individual owners and lenders will have to adapt to market realities, according to a new poll by Public Opinion Strategies. Between 18 and October 21, 1000 voters were asked about their views on the mortgage crisis. With a margin of error of 3. 1 percent. 90 percent of respondents believe that high-risk mortgages as a serious crisis, but only 31 percent of respondents believe the federal government should be involved.
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April 27th, 2010 at 5:10 pm
Ameritards cannot even take responsibility for their own financial mistakes, Big Brother will come in and save them. You buy a house that puts a big strain on your monthly budget, then, you go out and buy a bunch of junk with a credit card, then, you get a heloc so you can go out and buy more junk. Why has this society lost all discipline, because they can rely on Big Brother to bail them out.
April 27th, 2010 at 5:59 pm
100% agree those involved need to be made a harsh example of as their actions have defrauded citizens of their homes while destabilizing the economy. It’s time the victims were given at LEAST the option of loan on more reasonable terms to keep their hard earned property the banks have proven they deserve no protection from any of us in this matter
April 27th, 2010 at 6:45 pm
well,the government was not just creating incentive for banks to make risky loans.They were threatening legal action if the banks did not make the loans.
April 27th, 2010 at 7:26 pm
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April 27th, 2010 at 7:47 pm
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April 27th, 2010 at 8:47 pm
funny video lets chat
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April 27th, 2010 at 8:49 pm
We don’t have “dollar movies” anymore, thanks to the Community Reinvestment Act and “diversity” we have “dollar homes”. When our government moves psychotic welfare recipients out of the cities into the suburbs into 200,000 plus homes, they’re not gonna make more than 1 or 2 payments on those homes and yet, they’ll live there for years and now it’s time for the “bitter clingers” in this country to pick up the tab. I’m from the government and I’m here to help, well special interest groups. lol
April 27th, 2010 at 9:06 pm
Lol this is so bias. Freedom works… their web page has “LESS GOVERNMENT” in its title.
April 27th, 2010 at 9:38 pm
Thank you, 228 members of the House, for voting against the Bailout.
Stock prices tell us that the $700B Bailout would have propped up the DOW by only 500 points. (Down 777 yesterday, up 250 today).
Hey, Government, STOP interfering in the markets. The only reason for a big 777 point drop yesterday was government interference (Bush promising a bailout that never came).
Anyone who is too wimpy to watch a 500 point drop in the Dow should SELL their stocks immediately.
April 27th, 2010 at 9:55 pm
The US government and the taxpayers of America are not liable for the mortgage mess. The lenders are liable. And I say attach all their assets and liquidate to help pay off some of the debt. Barack Obama pulled in 9 million from a fund raiser, I say take 7 million and use it to pay off some of this debt and have another fund raiser. There is another solution, the banks can forgive the whole loan mess and turn the titles over to the buyers. Eat the loss and go to jail.
April 27th, 2010 at 10:40 pm
(5) In case anyone is interested in pursuing these things further, I suggest the book “How to Lie With Statistics” by Darrell Huff. It’s an older book, to be sure, but it is immensely readable and engaging, and perhaps even MORE relevant today than when it was written (and no, I’m NOT Darrell Huff–I’m just recommending this as perhaps the most accessible primer on this sort of thing that I’ve encountered
. Wishing you ALL THE BEST, -T.G.
April 27th, 2010 at 11:28 pm
(MUCH of a survey response depends on these two variables–for example, asking a question about our policy in Vietnam in the late ’60s elicited a TOTALLY different response depending on whether or not the word “Communism” was included in the question) (4) (And this is a bit more technical) What was the sample size and the margin of error? (These things should be a matter of PUBLIC RECORD with ANY poll.)
April 28th, 2010 at 12:23 am
OK–a few things here (Please forgive me, for I’ll have to post in “chunks” due to the character limit here): (1) Exactly what newscast does this come from? (The source is NEVER mentioned apart from the narrator’s name at the end.) (2) How was the poll conducted? (If it was a Web-based poll posted on a particular site, these are NOTORIOUSLY BIASED, as there is a “self-selection effect” regarding those who answer the question. (3) How was the question phrased, and what were the answer options?
April 28th, 2010 at 1:09 am
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April 28th, 2010 at 1:26 am
It is in the best interest of the lender to reduce the mortgage instead of foreclosing and not getting any money anyway. If they help the homeowner they insure themselves getting paid.
April 28th, 2010 at 2:12 am
I am in support of the bailout. Because there are situations where people want to stay in their homes but they were approved for an unfavorable loan. Interest Only etc… It may have been hard to make certain payments as many Americans suffer job loss, deaths in the family, and other tragedies that you don’t expect and many don’t have the savings to prepare for. It was mistakes made on the lenders end.
April 28th, 2010 at 2:37 am
In 1986 we were looking for our first (and so far only) home. We were told by the mortgage qualifying process that we qualified for up to a $250,000 home. Remember, this was 1986!! Well we had enough common sense to know that we couldn’t manage that in real life and told our realtor that we wanted a home UNDER $100,000. The realtor WAS NOT happy with us. But we stood firm, told him we were his boss, and found our home. These people should have been able to figure it out themselves too. GEEZE!
April 28th, 2010 at 2:54 am
2) When someone makes a bad decision, or chooses wrongly, they lose out; you pay the consequences for that decision. Thus, this processes creates the possibility for competence, people are paid back, one why or the other. This government should not be in the business of bailing out institutions or individuals for their lack of foresight!! What ever happen to free markets in this Great Nation?!
PLEASE, STOP THE RACKET NOW!
April 28th, 2010 at 3:05 am
Stop the bailout; this is “Liberal Fascism”!!!!!
1) I’ve been responsible, saving my hard earned dollars in order to by a house, maybe in the next couple of months after 05/2008. Yet, greedy banks and irresponsible individuals get a free pass by the government with a bailout. It’s incomprehensible that our Taxed dollars will be used to acknowledge and pay off institutions and individuals by lack of decision making in their part. This is not the America I know!
April 28th, 2010 at 3:54 am
yeah, but values will go up. it just means you can’t flip anymore. big deal. a house is a home.
April 28th, 2010 at 4:01 am
it’s worth less. not worthless. pay your mortgage and hang on.
April 28th, 2010 at 4:52 am
I oppose the bailout, because maybe finally greedy banks will learn to not loan money to people who obviously couldn’t afford the mortgage in the first place! And maybe people will learn to SAVE their money instead of taking on too much debt! A bailout will only put a band-aid on the problem, because nobody will learn their lesson and people will continue to do the above. Obviously the economy is suffering now, along with many people, but that’s how we learn from our mistakes.
April 28th, 2010 at 5:47 am
Our economy is in the perfect storm.With the sub prime debacle,high oil prices,and the falling
dollar along with the ever continuing war in Iraq
draining our resources.For the first time in my
life worry about future of this great country.
April 28th, 2010 at 6:20 am
Bush tapped an obscure federal agency created during the Civil War called the Office of the Comptroller of the Currency. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act preempting all state predatory lending laws, thereby rendering them inoperative, The federal government’s actions were so egregious that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.
April 28th, 2010 at 7:01 am
Bushco was complicit in this mess. How many times during the last 8 years has Mr Bush talked about the “economy” as strong and pointed to housing numbers to assert this claim? Lot’s. It was all an illusion. Keep the masses thinking they are better off while the country’s economy tips closer to the cliff in order to advance as many changes to law as possible, completely politicize the DOJ and govt and head for Republican hegemony.