MSNBC: George Bush Threatens Homeowners

[rjx]

Run time: 00:28 https://www.youtube.com/watch?v=Vtx6NAQFxt4   Posted on YouTube: February 28, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: February 28, 2008 By DU Member: rjx Views on DU: 1337

 

[acmavm]

1. No bail out for lendees, just the corrupt lendors.

[fascisthunter]

2. Time for America to Threaten Bush

Sue the fuck out of him and his disgusting family.

[safeinOhio]

3. At least let us eat some cake

[booley]

4. Against Bail Outs?

An odd position for a man who's brother neil depended on a bail out.

[DrZeeLit]

5. He's been bailed out his entire life... what's up with this nonsense now?

Sheesh.
Silver spoon indeed.
What a piece of work.

How many days left?
Not soon enough.
Not nearly soon enough.

[JDPriestly]

6. Sorry, I'm a 100% total Democrat, but as I understand the

Congress' proposal on this, it would allow or authorize courts to decide interest rates. That is what happened in Germany in the 1920s when Germany suffered from massive inflation. German Codes include a provision (which is also in our Commercial Code thanks to Llewelyn who helped draft the original Commercial Code) regarding good faith. Based on that provision, the German courts simply rewrote contracts, especially longterm agreements, to adjust for inflation. Specifically, landlords who had entered into longterm leases were being ruined because the agreed upon rents had decreased in value to the point that the landlords could not maintain or heat their buildings. The interference by the courts (a truly despicable example of judicial activism) just caused the inflationary spiral to get worse and worse.

Congress should go back to the drawing board and figure out some other way to help homeowners. Except in rare cases, courts have no business rewriting the terms of private contracts. Courts interpret contracts and it sometimes seems as though they are rewriting the contracts, but that courts should not rewrite contracts. At least in California, a court can declare that a contract or a provision in a contract is unconscionable or illegal and therefore unenforceable. Courts can also decide that a party's agreement to a contract was induced by fraud and then apply a different remedy, but courts should not be trying to rewrite contracts.

[ogsball]

8. A rational proposal

filing for bankruptcy isn't a contract 'redo'? Now bankruptcy courts can adjust the terms on loans for second homes and yatchs why not ballooning primary home mortgages. Presently leaders can also cancel lending agreements for people who've gone bankrupt, I wouldn't think this would be any different. BTW I suspect this wouldn't effect very many people.

[JDPriestly]

9. But if the person is in bankruptcy court, how can he or she keep his or her home?

[sce56]

7. Here is Shrubs Message