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Jay Busse (idiot savant) writes words, gives opinions and looks forward to your opinions. I am not a journalist, which puts me ahead of many the blabbering, self-inflating bobbleheads spewing "news" at us on TV. Because I actually realize I'm not a journalist. Suicidal Utopia: For peeple that rede gud.

Rick Santelli on Obama's Foreclosure Bailout

For now, here's the video of Rick Santelli's rant about Obama's Foreclosure Bailout.

My understanding of the plan is pretty rough: We're gonna give financial aid to people who can't afford their homes. Now, some of these are good people and were hoodwinked, some must claim a combination of: ignorance, ignorant greed, ignorant blissful greed and/or stupidity.

We did not buy a home, although we were approved to 1.2 million. We could not afford the payments. We didn't have the income, although that was a trivial matter, since income could be faked. We'd just sign a couple documents, committing fraud and live happily ever-after.

Hindsight being what it is: Had I known the government would bail me out, I may have done it. Claiming any of the above as my reasons for being deserving.

It wasn't that long ago people were flipping houses like pancakes. Unfortunately the gas ran out, like people playing musical chairs... they were caught.

I can't afford to buy you or anyone else a house. Believe me, I'd love to buy everyone a house, but I can't. I, being me, and every other American.

Money once grew on trees for very many people. Every one looked oh so smart in the bull market. Where are those geniuses now? It appears as though Obama's plan doesn't include going after all of those guilty in the defrauding of America.

Let's admit it, we're all guilty to some degree. We want lifestyles we can't afford, so slimy snake-suited meat-sacks granted our wishes. But at what price?

For the past couple months we've been operating in what is termed: negative cash-flow. This means struggling to pay the bills and have a life, while using-up more cash than we're bringing in.

Hoping things would change.

Today they did. I received a letter from my credit card company informing me that although I pay on time my interest rate was going to go from 14.9% to 25% (not late payment or default, normal APR).

Glory be, change has come. So Chase receives a billion dollar bailout with our money then hits me on the other side because: "The principal factor we considered in amending your account is maintaining profitability on your account"Exact Quote.

Let me see if I can bullet this: Chase uses our money to bail them out. Then buys Washington Mutual, then hits me on the other end to maintain profitability?

So I've actually loaned the loan shark money so he can charge me 25 points on the vig and buy a new casino?

Seriously, we gotta get some control of these people.

Dear Chase the loan shark,

The principal factor we considered in deciding not to pay you is maintaining my solvency. In fact we're going to have to ask you where all our money went for the bailout before letting you bend us over and buying a bank.

You have a nice day!

j

I'm going to go out on a limb here and guess that the next shoe to fall will be... let me think: credit cards.

Brought to you by the same people that brought you the smash hits: wall street: the bailout, banks: the bailout, housing: the bailout, Americans: get it both ways.

We need to reel these people in. I would not have taken a credit card at 25%...

It seems they've found a loophole, or some hole, to jam their money-grubbing fists into.

Please stop it.  

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