Romney tells homeowners to .... walk.

[Nick Gromicko]

A few days ago, Mitt Romney was at a forum in Florida talking about foreclosures, and said that if you can't pay your debts and your lending institution won't work with you... walk away.

This is exactly what I advised folks years ago on this very forum. Some InterNACHI members disagreed.

Here is Romney's quote:

The banks are scared to death, of course, because they think they're going to go out of business... They're afraid that if they write all these loans off, they're going to go broke. And so they're feeling the same thing you're feeling. They just want to pretend all of this is going to get paid someday so they don't have to write it off and potentially go out of business themselves. This is cascading throughout our system and in some respects government is trying to just hold things in place, hoping things get better... My own view is you recognize the distress, you take the loss and let people reset. Let people start over again, let the banks start over again. Those that are prudent will be able to restart, those that aren't will go out of business. This effort to try and exact the burden of their mistakes on homeowners and commercial property owners, I think, is a mistake.

[John McKenna]

Do what you got to do to survive.

[Joe Funderburk, CMI]

That's not how I read Romney's quote.

[Michael Larson]

Romney is saying, let the banks that have acted stupid fail.

That is supposed to be what happens in a free market.

Bankruptcy clears the system and allows for real growth.

[Nick Gromicko]

Romney is saying, let the banks that have acted stupid fail.

That is supposed to be what happens in a free market.

Bankruptcy clears the system and allows for real growth.

Correct. And that is why the Occupy Wall Street crowd is dead on, only they mistakenly call it "capitalism." The Occupy Wall Street folks are actually protesting against "crony capitalism" which takes money from many profitable small business people by force and gives it to a few dumb business people who have run their businesses into the ground. Pure capitalism doesn't have bailouts.

[Michael Larson]

OWS is mostly confused Nick.

[Bob Elliott]

Originally Posted by mlarson

OWS is mostly confused Nick.

So you have a better idea or are people that protest injustice simply dirty hippies ?

Yeah ,yeah,I know just vote Republican. LOL

[Michael Larson]

Originally Posted by belliott

So you have a better idea or are people that protest injustice simply dirty hippies ?

Yeah ,yeah,I know just vote Republican. LOL

Yep, jail the crooked banksters and cut entitlements now.

[Bob Elliott]

Originally Posted by mlarson

Yep, jail the crooked banksters and cut entitlements now.

But that would be opposite of the great Bush solution to bail them out.
You are for giant corporations controlling our lives are you not?

Seems they are right now, and grabbing more every day with small business simply being regulated and sued to death.

Look how the corporate run government sent a message to all us dirty hippy types by shutting down the pirate filled mega upload site and extending their power to other lands just to show us who is really in charge.

In this case it is the entertainment industry and that includes the media which donates money to and therefore controls government and we are all powerless to do a damn thing about it.

Enjoy your pretend Democracy while you can.

[Kevin M. Leonard]

Originally Posted by belliott

But that would be opposite of the great Bush solution to bail them out.
You are for giant corporations controlling our lives are you not?

Seems they are right now, and grabbing more every day with small business simply being regulated and sued to death.

Look how the corporate run government sent a message to all us dirty hippy types by shutting down the pirate filled mega upload site and extending their power to other lands just to show us who is really in charge.

In this case it is the entertainment industry and that includes the media which donates money to and therefore controls government and we are all powerless to do a damn thing about it.

Enjoy your pretend Democracy while you can.

http://www.getmoneyout.com/

[Michael Larson]

None the less, that is what must happen bob.

[Bob Elliott]

Kevin switching to Swedish meatballs certainly makes me feel better.
We are supposed to feel good over minor changes as Rome burns .

Does airport security like we have here make us secure or simply tell us we are nobody and need to shut up or risk being arrested ?

[Kevin M. Leonard]

Originally Posted by belliott

Kevin switching to Swedish meatballs certainly makes me feel better.
We are supposed to feel good over minor changes as Rome burns .

Does airport security like we have here make us secure or simply tell us we are nobody and need to shut up or risk being arrested ?

A bit more secure but at the cost of more freedom. I can equate it to driving. If I want to drive 110 MPH, I'm going to pay a huge fine and maybe loose my driving privileges. It's the law that the Government put in place to protect us from ourselves & others.

Unfortunately, it's the reality of the world we live in today.

On the other hand I think the TSA should refine their techniques, I really don't think well known Senators or Grandma needs a pat down or to remove their shoes. It's PC run amok.

[Bob Elliott]

The European Union decided our kind of security interferes with regular peoples rights and decided it was not worth it.
That should tell you everything.

Terrorists are smart enough to simply bomb a shopping mall next time so if that happens will you also figure body cavity searches of your 6 year old daughter are worth it everytime she goes with you to shop at Target ?

[Kevin M. Leonard]

IMO we should use EL AL as a template for airline security.