Comments on: There goes the neighbor… http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/ The editorial cartoons of Matt Davies Tue, 7 Oct 2008 17:10:08 +0000 http://wordpress.org/?v=wordpress-mu-1.2.5 By: William S. Coffin http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4329 William S. Coffin Fri, 21 Dec 2007 00:30:55 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4329 Mentioning banks I read in the Wall St Journal a few days ago that some tens of thousands of community and regional banks have had few or none of the sub-primes. They have plenty of capital and are in fantastic shape. Mentioning banks I read in the Wall St Journal a few days ago that some tens of thousands of community and regional banks have had few or none of the sub-primes. They have plenty of capital and are in fantastic shape.

]]> By: X BULLDOG http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4328 X BULLDOG Thu, 20 Dec 2007 18:31:02 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4328 I agree with your statement Matt. We must learn from our mistakes though. Now the Government is putting in new laws to prevent this kind of stuff from happening. It's to bad it always happens after the fact. Like a smoker who quits after he learns he has cancer. Correct McGriff on the two different types of people. I like to refer to them as the pro-active or in-active and responsible and irresponsible. Nip it in the bud before it blossoms into a huge problem. I agree with your statement Matt. We must learn from our mistakes though. Now the Government is putting in new laws to prevent this kind of stuff from happening. It's to bad it
always happens after the fact. Like a smoker who quits after
he learns he has cancer.

Correct McGriff on the two different types of people. I like
to refer to them as the pro-active or in-active and responsible and irresponsible. Nip it in the bud before it
blossoms into a huge problem.

]]> By: McGriff http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4327 McGriff Thu, 20 Dec 2007 17:54:28 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4327 This cartoon, to me, applies to much more than the subprime fiasco. This country is divided among those who try to solve problems before they get out of hand and those that can't see the possibility of a problem. The latter see no role for the oversight of government; they just want lower taxes and less government. But when you see government as the problem and the solution as allowing Big Business to do whatever it wants, you are going to end up in trouble - not just the stupid people but all of us. It always ends up costing more at the end than fixing it from the start. This cartoon, to me, applies to much more than the subprime fiasco. This country is divided among those who try to solve problems before they get out of hand and those that can't see the possibility of a problem. The latter see no role for the oversight of government; they just want lower taxes and less government. But when you see government as the problem and the solution as allowing Big Business to do whatever it wants, you are going to end up in trouble – not just the stupid people but all of us. It always ends up costing more at the end than fixing it from the start.

]]> By: Matt Davies http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4326 Matt Davies Thu, 20 Dec 2007 16:11:34 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4326 Hey Bulldog...That's the point of the cartoon. Stupid people happen. And there are also some unlucky people. That's life. But if ENOUGH of them all get together and default on mortgages and find themselves in foreclosure, it then becomes everybody's problem, in the form of a faltering housing market and economy. Which is why while we're wagging our finger at the financially unscrupulous, we have to simultaneously figure out a way to prevent the whole thing from melting down - and taking us cautious, old-school 30yr fixed-rate guys with it... Hey Bulldog…That's the point of the cartoon. Stupid people happen. And there are also some unlucky people. That's life. But if ENOUGH of them all get together and default on mortgages and find themselves in foreclosure, it then becomes everybody's problem, in the form of a faltering housing market and economy. Which is why while we're wagging our finger at the financially unscrupulous, we have to simultaneously figure out a way to prevent the whole thing from melting down – and taking us cautious, old-school 30yr fixed-rate guys with it…

]]> By: X BULLDOG http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4325 X BULLDOG Thu, 20 Dec 2007 16:00:14 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4325 Because McGriff we have alot of irresponsible and stupid people in this country that we now have to protect. Everybody in this country is living way beyond their means and don't seem to care that they are heavily in debt. Live for the moment now and worry later. Had this happened to 50,000 people instead of millions it would not even be an issue. The government wouldn't help the 50,000 so why help 2 million. Because McGriff we have alot of irresponsible and stupid people in this country that we now have to protect. Everybody in this country is living way beyond their means
and don't seem to care that they are heavily in debt. Live
for the moment now and worry later. Had this happened to
50,000 people instead of millions it would not even be an
issue. The government wouldn't help the 50,000 so why help
2 million.

]]> By: dan http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4324 dan Thu, 20 Dec 2007 12:25:09 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4324 practices were predatory largely on the part of brokers associated with the banking institutions, not necessarily the banks themselves. the brokers made money on commission by suckering the lendee and lender, both. in this sense, the banks are doubly at fault -- they not only propped-up scavenging thieves in their associations with these predatory brokers, they managed to lose money while they were at it. practices were predatory largely on the part of brokers associated with the banking institutions, not necessarily the banks themselves. the brokers made money on commission by suckering the lendee and lender, both.

in this sense, the banks are doubly at fault—they not only propped-up scavenging thieves in their associations with these predatory brokers, they managed to lose money while they were at it.

]]> By: McGriff http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4320 McGriff Wed, 19 Dec 2007 21:51:56 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4320 Bull, If your thinking is correct, why would the Federal Reserve clamp down on lenders with a new package of restrictions like it did yesterday? Bull,
If your thinking is correct, why would the Federal Reserve clamp down on lenders with a new package of restrictions like it did yesterday?

]]> By: X BULLDOG http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4319 X BULLDOG Tue, 18 Dec 2007 19:33:59 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4319 I don't know Jim. Banks are in business to make money. Why would they want one of their customers to have a loan the bank knows they can't handle and have their customer foreclose on the mortgage? Now the bank makes no interest from the home owner and now the bank has to sell the house for alot less money than it would have made if the people paid off the mortgage. The home owner has to take some of the heat on this one. I don't know Jim. Banks are in business to make money. Why
would they want one of their customers to have a loan the bank knows they can't handle and have their customer foreclose on the mortgage? Now the bank makes no interest
from the home owner and now the bank has to sell the house
for alot less money than it would have made if the people
paid off the mortgage. The home owner has to take some of the heat on this one.

]]> By: Jim http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4317 Jim Tue, 18 Dec 2007 16:31:55 +0000 http://davies.lohudblogs.com/2007/12/18/there-goes-the-neighbor/#comment-4317 So true. I think it's amazing how when talking about helping people out, the conversation always seems to go about being worried about hurting or making the banks have some responsibility in all of this. This was predatory from the beginning. People who couldn't afford mortgages were given them with some of the most ridiculous terms possible. These people were not financially savvy to begin with, how was this allowed to happen? So true.
I think it's amazing how when talking about helping people out, the conversation always seems to go about being worried about hurting or making the banks have some responsibility in all of this. This was predatory from the beginning. People who couldn't afford mortgages were given them with some of the most ridiculous terms possible. These people were not financially savvy to begin with, how was this allowed to happen?

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