tag:blogger.com,1999:blog-21680780.post4754661586604864170..comments2023-10-25T04:06:39.650-06:00Comments on THE UTAH AMICUS: Did Orrin Hatch cause the sub-prime mortgage meltdown?Robhttp://www.blogger.com/profile/15268367840057258095noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-21680780.post-24735648050805561432008-03-02T11:18:00.000-07:002008-03-02T11:18:00.000-07:00Senator Hatch shouldn't have voted for SCHIP eithe...Senator Hatch shouldn't have voted for SCHIP either. Anything that looks and smells like more socialism, is bad thing. Senator Hatch should know better given the VAST amounts of council the prophets and apostles of the church have given against these things.<BR/><BR/>One should not have allegience to a party. One should have allegience to correct principles--and to do that, one must find them first. I think Senator Hatch needs to study up on correct principles before he compromises his way to hell any further ....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21680780.post-35766901303533751102007-10-01T21:27:00.000-06:002007-10-01T21:27:00.000-06:00Steve it wasn't Hatch's fault only.It was the "Sec...Steve it wasn't Hatch's fault only.<BR/><BR/>It was the "Secret Combination" in the republican party that has ruled the nation and this state for for the past 20 years, that created the this mess in Amererica and Utah and overseas.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21680780.post-81066540227128727802007-10-01T14:09:00.000-06:002007-10-01T14:09:00.000-06:00Steve--Are you kidding me? I'm no defender of Sen...Steve--<BR/><BR/>Are you kidding me? I'm no defender of Senator Hatch's but the bankruptcy law and Senator Hatch had little if anything to do with the current subprime mess.<BR/><BR/>Sadly, Utah Amicus has become more interested in scoring political points than discussing real policy.<BR/><BR/>You state, so emphatically, that teaser mortgages started about the time the bankruptcy bill passed. WRONG!! Subprime mortgages and teaser rates started well before 05.<BR/><BR/>The real problem is the securitization and issuing of mortgage based securities. Although securitization has introduced liquidity into the marketplace which has been a positive to the economy it has also led to the loosening of credit and down payment standards. <BR/><BR/>There are valid concerns with the bankruptcy bill and the current state of regulation in the financial industry but your rant did little to discuss the real concerns.<BR/><BR/>Let's discuss real policy rather than trying to score cheap points.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21680780.post-75103037759776667222007-10-01T09:45:00.000-06:002007-10-01T09:45:00.000-06:00Anonymous,I'd agree with you if the government's p...Anonymous,<BR/><BR/>I'd agree with you if the government's policy of bailing out stupid lenders weren't in place. We encourage lenders to make bad loans with the virtual garantee that government will eventually save them if things go bad. If lenders get government protection why shouldn't borrowers get protection as well in the form of bankruptcy?<BR/><BR/>I'd prefer to get away from corporate welfare and liberal bankruptcy protection laws. Since the coroporate welfare doesn't seem likely to go away I'm all for more protection for consumers. Steve is absolutely right.Jeremyhttps://www.blogger.com/profile/15775127589033724985noreply@blogger.comtag:blogger.com,1999:blog-21680780.post-89996149307204946072007-10-01T08:46:00.000-06:002007-10-01T08:46:00.000-06:00Steve, please stop representing the views of every...Steve, please stop representing the views of everyday people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21680780.post-41282488676455426732007-10-01T08:26:00.000-06:002007-10-01T08:26:00.000-06:00Steve,It is ultimatly up to the consumer to know w...Steve,<BR/><BR/>It is ultimatly up to the consumer to know what is best for them...it is not that hard to read the writing on a mortage contract or bank loan.<BR/><BR/>We don't the govt to hold our hands.<BR/><BR/>As usual, your writing are way out in left field and represent the views of everyday people.<BR/><BR/>You're just another left wing intellectual speaking his mind.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21680780.post-49884486562392469942007-10-01T07:19:00.000-06:002007-10-01T07:19:00.000-06:00Good Post!At first I was wondering what kind of BS...Good Post!<BR/><BR/>At first I was wondering what kind of BS you were peddling. <BR/><BR/>The other issue that I think needs to happen is loan origination companies need to brought under a more watchful eye (under the SEC or something)<BR/><BR/>During the boom here in Southern Utah, middle class families were being put into 300k subprime loans left and right with little or no explanation of what would happen in a few years if they didn't refinance the loan or sell the home out of the loan, and NO effort to determine whether the homebuyer could afford a 300k+ home. That type of malfeasance in any other profession would lead to expulsion from practice, yet loan peddlers were almost entirely unregulated and unfettered during that period. Now the buyers are left picking up the pieces. We lost one family to foreclosure from our ward this week, and I wonder how many more.pramahaphilhttps://www.blogger.com/profile/05852898493878493736noreply@blogger.com