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Presenting Obama's Latest $50,000 Non-Recourse, Interest-Free Gift To "Troubled" Homeowners

Tyler Durden's picture


Today the Obama administration launched its latest $1 billion "stimulus" in the form of the Emergency Homeowner's Loan Program (EHLP), certainly not to be confused with Homeowner Emergency something something, which would be abbreviated HELP (and would be way too cute). The formal reason for the program is to provide emergency loans to 'homeowners' facing foreclosure, or basically all of them, to help tide them over "a temporary financial crisis", the
Department of Housing and Urban Development (HUD) has announced. The informal reason is to provide thousands of Americans with a $50,000 recourse and interest-free loan for up to two years (money which will go down to paying down equity an underwater mortgage, and will thus never be repaid), so that earned income, instead of being used to make mortgage payments, will be rerouted into such far more critical capital needs as the latest iPad or buying share ot LNKD at $122. But don't think for a moment that everyone will be able to access this money: "the program is available to homeowners who have seen their incomes fall and who could lose their homes to foreclosure due to circumstances beyond their control, including involuntary unemployment, underemployment, economic conditions or an illness" which, actually in retrospect, is all of them. Well, the effort of getting off one's couch and actually picking up the forms may be unavoidable. Of course, that process in itself may well limit 80% of the eligible participants.

More on this latest centrally-planned expansion into Obamanism:

The program is a counterpart to the $7.6 billion Hardest Hit Fund and is available only to homeowners in states not covered by that program. The Hardest Hit Fund provides foreclosure avoidance assistance to homeowners in states that have been most seriously affected by the declining housing market and economic downturn.

The new initiative is expected to provide assistance to up to 30,000 homeowners, with loans averaging $35,000 each. Loans may be used to pay a portion of monthly mortgage bills, including missed mortgage payments or past due charges including principal, interest, taxes, insurances, and attorney fees.

Homeowners seeking assistance must complete a pre-application screening workshop by July 22 in order to be considered for the program. As demand is expected to exceed the amount of funding available, qualifying homeowners will be chosen at random to complete the application process.

States served by the program are Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. EHLP is also offered in Puerto Rico.

So what about all those who lived within their means and actually do not need yet another bailout? They get the privilege of funding all of the above.


h/t nobull1994


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Mon, 06/20/2011 - 22:02 | 1387444 Barb Dwire
Barb Dwire's picture

I just sit on the couch and don't own a home. I'll settle for $5k.

Mon, 06/20/2011 - 22:22 | 1387498 ihedgemyhedges
ihedgemyhedges's picture

Gimme da full fitty bitch!!!!!!!!!!!!!!!

Mon, 06/20/2011 - 22:41 | 1387582 oh_bama
oh_bama's picture

My hope is that he is still serious about his reelection. This is politically suicidal in the sense of alienating "everyone else"


I wish he can be the president for another 4 years SO THE FED PUTS ARE STILL IN PLACE! SO WE CAN ALL BTFD~~~


Mon, 06/20/2011 - 23:07 | 1387674 That Peak Oil Guy
That Peak Oil Guy's picture

At first glance this appears to be insane.  On further consideration, this seems even more insane than the first glance!

Isn't this for the same people who are not paying mortgage for 2+ years waiting for foreclosure anyway?


Tue, 06/21/2011 - 00:40 | 1387904 SilverIsKing
SilverIsKing's picture

Wait til you glance at it a third time. You'll go blind.

Tue, 06/21/2011 - 03:20 | 1388150 jeff montanye
jeff montanye's picture

no arizona, nevada, florida?

also recourse or non-recourse?  headline and post conflict.  if recourse then further depths of debt peonage would result, right?

Tue, 06/21/2011 - 05:13 | 1388226 Jendrzejczyk
Jendrzejczyk's picture

Worded wierdly in post, but means non-recourse.

"a $50,000 recourse and interest-free loan" Read it as recourse free and interest free.

Mon, 06/20/2011 - 23:23 | 1387726 CrazyCooter
CrazyCooter's picture

Ya, but did you think it through ... the other option is ... the establishment republican!

Do the "elite" care about the (R) or the (D)? Obama has pretty much *guaranteed* an (R) the next cycle, but the real question is ... will the next (R) be any different?



Tue, 06/21/2011 - 00:06 | 1387816 eureka
eureka's picture

Don't you hate it when DC gives money to individual losers rather than to Wall Street Bank Losers, like George W. did?

Tue, 06/21/2011 - 00:25 | 1387853 you enjoy myself
you enjoy myself's picture

no one is defending W, jackass.  quadrupling down on stupid is still stupid.

Tue, 06/21/2011 - 00:41 | 1387908 SilverIsKing
SilverIsKing's picture

4 times as stupid if you ask me.

Tue, 06/21/2011 - 02:44 | 1388101 suckapump
suckapump's picture

Wouldn't that be 16 times stupid?

Seriously though, I think this new program is ineffective by design. It is the policy equivalent of baby kissing. It makes mom and pop voter all warm and fuzzy while actually doing little more than spreading disease.

Why would the politicians or the banking cartels want any kind of modification program that actually had any chance of success? By my calculations, if one includes the Fanny/Freddie bailouts, the amount of money stolen from future taxpayers and forked over to the banks in the past three years is about $13T. The outstanding balance of residential mortgages in the US has been estimated at about $11.9T.

I do take issue with the last paragraph of the article though. Blaming those who believed the army of lending professionals when they sold mortgages as the path to financial independence is like blaming a rape victim for wearing a t-shirt that said "love to fuck". Sure, the victim is unsympathetic, and her behavior probably harms more respectable women around her, but the real bad actor in that scenario is the guy that perforated her anus by forcibly inserting a twelve pack of beer into her ass despite her screams to stop.

Mon, 06/20/2011 - 23:44 | 1387782 goldfish1
goldfish1's picture

A free fitty? I want some.

Mon, 06/20/2011 - 22:52 | 1387629 Slartebartfast
Slartebartfast's picture

Yeah Baby!  Where do I sign up!  When I get my $50K I'm going straight to the coin store and pick up a couple of big boxes of Silver Eagles.  Take that JP!

Oh yeah, we don't actually get the money.  It goes to the banksters.  Shoot!

Mon, 06/20/2011 - 23:20 | 1387707 Dburn
Dburn's picture

Do what the real-estate agents are doing as the thieves rob the thieves and we keep paying. They go in and tell their banker "buddy" that a short sell is the only way to move a property. Bank agrees, especially if it's in a tranche guaranteed by US taxpayers and sometimes not because, well they are just shit out of cash. They   short sell a million dollar home  at 500K. People in it, rent it for a year from agent who has a buyer which may be the renters lined up to buy it at 600-700K . Then the person who puts up the 600K and the agent splits the 100k+ rent less real estate commissions on both transactions that goes into the real-estate agents hand and the brokers which is 6-7% each trade. Their are agents doing a couple of these a month. It's even better when they were out their working with their banker buddies selling junk for prices that was normally in the Mansion range.

Who knows, JP Morgue may be putting up the money to take it from Citibank since they have the most in Taxpayer guarantees. Which probably means a citibank officer is in it for a cut.

You gotta hand it to these fuckers, just when you think they can't go any lower, they take us down two more levels;

"money for nothing and the fees ain't free

them guys, they ain't so dumb"

Mon, 06/20/2011 - 23:22 | 1387724 TheMerryPrankster
TheMerryPrankster's picture

50,000 $ per vote seems high at first, but if you compare it to what Obama paid for the wall street bank votes, its actually quite reasonable.

If you put it in context its not much more expensive than a couple of stinger missiles.

Tue, 06/21/2011 - 00:14 | 1387829 bankonzhongguo
bankonzhongguo's picture

All this money just flows directly to the Banks.

Call it QE 2.9 with sugar on top.

More gravy for the money pigs.

Tue, 06/21/2011 - 07:26 | 1388307 JohnF
JohnF's picture


This is just a bank bailout prettied up and floated as a first step towards other bailouts.

The banks are hurting and this is their payback for having bankrolled the system...

Mon, 06/20/2011 - 22:03 | 1387446 buzzsaw99
buzzsaw99's picture

reward the deadbeats with chump change from heaven.

Mon, 06/20/2011 - 22:23 | 1387503 Popo
Popo's picture

Now let's see... The family of a responsible renter who has seen an equally devastating loss of income is just as likely to be evicted. Is there $50,000 in loan money for this troubled family as well?

What separates these two cases in terms of need? The "buyer" (I use the term loosely, of course) has acted irresponsibly. The family of the renter has not.

Where is the assistance for renting families in dire need? Oh, right, this isn't actually a bailout for people at all.... Once again, it's a bailout for the banks.

... And that renter? Not only does he not get help, He PAYS for this whole clusterfuck.

Ready to stop paying taxes yet?

Mon, 06/20/2011 - 22:30 | 1387547 buzzsaw99
buzzsaw99's picture

It's all coming down. They have rewarded the deadbeats with mortgage equity withdrawals, free rent, subsidies, tax breaks. So much money has now been misallocated that a total collapse is assured.

Mon, 06/20/2011 - 22:47 | 1387620 topcallingtroll
topcallingtroll's picture

Hayek?  I thought you were dead.

Mon, 06/20/2011 - 22:52 | 1387630 snowball777
snowball777's picture

Truly bizarre isn't it? Like Cloward-Piven turned sideways.

Mon, 06/20/2011 - 23:00 | 1387653 Oh regional Indian
Oh regional Indian's picture

Indeed Buzz, It's socializing America, one bail-out at a time. A billion for a bank, a few thousand for a few "lucky" home-owners. But another couple of programs like this and they'll have the whole country save a few on the teat.

That is when the teat becomes the absolute master. Not even very subtle, these socializing moves. Overt.



Mon, 06/20/2011 - 23:35 | 1387758 TheMerryPrankster
TheMerryPrankster's picture

I think you have a typo, you meant to type "sodomizing" instead of "socializing".

Mon, 06/20/2011 - 22:50 | 1387621 snowball777
snowball777's picture

One of them is a bank liability?

Mon, 06/20/2011 - 23:11 | 1387684 Dapper Dan
Dapper Dan's picture

 Once again, it's a bailout for the banks


Your God damn right it's for the banks, just like cash for clunkers.

Many don't relize how brilliant the hole cash for clunkers was for the PTB,  it helped the banks that made the loans, the dealerships and the automotive industry, but the real fuck you was the requirement to spike the motor of the trade in car to prevent the resale to Mexico.


 Mexico has been buying so many used cars from the US in the last 10 years,  that a very noticeable drop in oil exports destine for the US was transpiring. 


  We can't have the Mexicans using up "our" gas now can we?


OT,  it looks like Obummer tells us Wed.  that the troops are needed back home to suppress the insurrection.







Tue, 06/21/2011 - 02:44 | 1388024 Fed Supporter
Fed Supporter's picture

If ZH prides itself on seeing the big picture, they missed this one by the way it was titled.  

If you do the math the average home price a few years ago was say $230,000.00 at 6.5% on a 30 year that equates to 1 years interest payments of around $15,000.00.  Since the loan period is to assist over 2 years that would approx $30K directly into the banks' pockets. So if the average loan is around $35K that would be about right, with your average Joe gaining $2500.00 per year paid toward his principle, taxes and insurance.  Someone like Trader Mark must have written this post, very bitter that people are losing their jobs and hence their homes due to wall st. fraud.  But let’s keep bashing the squatters.  Remember only about 25% of all defaults are strategic.

For all you who think the bankers are going to be stupid enough to lend $50k lump sum no strings attached all at once are smoking some good stuff.

Don't be fooled this is another bailout for the banks.  The loan is going to be trickled out each month in increments equal to your loan payments.

This is a Greek style bailout, who cares if the average Joe pays it back the money will end up where it was intended.

Also, if you default it may be recourse free as far as a defeciency judgment goes but I doubt the IRS will let you off the taxes owed on defaulted money that is not pursued, the dead beats would then have an additional 50K in taxable income to top it all off.

Tue, 06/21/2011 - 07:39 | 1388332 blindfaith
blindfaith's picture

You write the same things I was thinking, especially about the tax liability...Merry Christmas from your President, oh and (like winnings from a TV game show) you own the US Gov $10,000 in taxes.

Our great leader can't bail out the banks again directly, so lets do it thru the back door and then the 'deadbeats' will get the blame.


WHERE IS THE REPUBLICAN AND TEA PARTY pundants??? to damn busy with NPR and Planned Parenthood destruction.

Mon, 06/20/2011 - 23:27 | 1387740 Dburn
Dburn's picture

Popo, you don't understand man.


A lot of the "landlords " are renting their foreclosed homes to other people who were dumb enough to move. See , the landlord could call for home improvements for the loan, etc and have a buddy lined up a stick another 50G, less buddy's cut, in his pocket for when the 200K houses that were 800K are at 100K or even lower as he gets 30-40K a year from renting his house as he keeps raising rates until they say "No Mas". Sleeps in his RV and is putting away money from that and the e-book he wrote on Amazon to tell others how to do it.

I mean how did you react when you found out that former Countrywide execs were buying Govt foreclosures (See the FDIC) homes in large lots at 10 cents on the dollar and holding the mortgages after taking a 30% modification?

You think the other thieves didn't notice?

Everyone who made money on the long side of this trade is making money on the greasy short side. We still get the bill. Damn a hustler in a high market area could easily pull down 5 Million a year if they are good at multitasking and hey, what about the agents for 10 Million+ homes that are empty in Greenwich CT. Meanwhile the bankers are calling the program Banker Bonus(er) Enhancement Entitlement. (BBEE)

Be all that you can be

Mon, 06/20/2011 - 22:32 | 1387560 Ben Fleeced
Ben Fleeced's picture

What you gonna do buzztroll?


Mon, 06/20/2011 - 22:42 | 1387590 buzzsaw99
buzzsaw99's picture

i stick it to the man every chance i get.

Mon, 06/20/2011 - 22:46 | 1387618 topcallingtroll
topcallingtroll's picture

How do you do it?  I wanna play too.

Mon, 06/20/2011 - 23:36 | 1387751 CrazyCooter
CrazyCooter's picture

Since you are trolling ... might I suggest moving to Alaska? Pretty country, all the huntin'/fishing' a troll could want. Stock the freezer, learn to can, and a bit of ZH in the slow spots!



Tue, 06/21/2011 - 10:49 | 1388933 Shell Game
Shell Game's picture

1. They hate it when you live within your means and don't over consume.

2a. Do not borrow money (unless you have a good business plan and can patiently put up with dozens of .gov fees and taxes).
2b. Cut up your credit cards.

3a. Remove your money from the Ponzi scheme.
3b. Take early withdrawal from IRAs and other ret. plans if possible.
3c. Buy physical metals and hold them yourself.

4a.  Learn to shoot and work on marksmanship.
4b.  Learn to reload your own ammunition.

5.  Grow food, even a little.

6.  Participate in local government, this shit will be put together from community up, not top down.


I could go on and on.  But you see that self-reliance and the refusal to play in their game is the best way to stick it to the Man. 


Mon, 06/20/2011 - 22:38 | 1387588 riley martini
riley martini's picture

 Reward the dead beats , I don't think so if you read it that money goes straight to the banksters and attorneys . Reward the banksters for making fraudlent loans, fascism at it's finest . Followed by a round of bonuses and political party contributions. Is it any wonder honest workers feel cheated .

Mon, 06/20/2011 - 22:40 | 1387593 buzzsaw99
buzzsaw99's picture

you are correct of course. our fellow citizens do not mind being used in this way. sooner or later the gravy train with the biscuit wheels will run out of track even for the bankstas. fear not, the end is nigh.

Mon, 06/20/2011 - 23:09 | 1387690 Havana White
Havana White's picture

I wish nigh would hurry up already.

Tue, 06/21/2011 - 07:48 | 1388354 blindfaith
blindfaith's picture

you are correct of course. our fellow citizens do not mind being used in this way.


The citizens are dumb as dirt and we all know it.  You send them info, tell them all that is going on, and what do you get...blank stares, or 'please don't send me any emails unless it has to do with puppies, kittens, or sports'.


The US citizens are cattle and being treated as such.

Mon, 06/20/2011 - 22:07 | 1387448 New Normalist
New Normalist's picture

The new rule to game the system in the good ol' USofA: Either become super rich, or super irresponsible.

Mon, 06/20/2011 - 22:41 | 1387586 Calculated_Risk
Calculated_Risk's picture

or be both and become a banker/politician/lawyer.

Mon, 06/20/2011 - 22:51 | 1387625 seek
seek's picture

And if you are neither, hide your shit and GTFO of the system now! Those other two categories want all you got.

Mon, 06/20/2011 - 22:08 | 1387449 wesa
wesa's picture

This is horrible.

Mon, 06/20/2011 - 22:37 | 1387565 Ben Fleeced
Ben Fleeced's picture


Mon, 06/20/2011 - 22:05 | 1387450 molecool
molecool's picture

Moral hazard galore - the more you fuck up the more coin you bank. Capitalism for dummies - when's the book coming out?

Mon, 06/20/2011 - 23:39 | 1387757 CrazyCooter
CrazyCooter's picture

Crapitalism for dummies?

I have no doubt someone said this before me, but it was the first thing to cross my mind in context of the article ...



Mon, 06/20/2011 - 23:39 | 1387769 TheMerryPrankster
TheMerryPrankster's picture

Molecool, for some reason, you remind me of the laughing man. We really could use him in a time like now.

Mon, 06/20/2011 - 22:09 | 1387454 agrotera
agrotera's picture

Another robbery out of the pockets of American tax payers for generations to come--each $50,000 goes toward more money in the pocket of the corrupt entities that run our country (agents of the privately owned Federal Reserve corp. aka toobigtofailbanks) so that when there the US is officially bankrupt, the Federal Reserve's agents can claim all equity, this $50000 plus other cockamamie programs that the Federal Reserve puppets in Washington DC will come up with  (our pres is their #1 puppet, congress is the back up to write legislation to legalize the criminality of these bailout/robberies)

Mon, 06/20/2011 - 22:13 | 1387465 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

EHLP is also offered in Puerto Rico.

How much are the Fed Taxes in P.R.?


Mon, 06/20/2011 - 23:02 | 1387661 knowless
knowless's picture

for real, but that's the gig, the nationalists in PR want to be independant, but the centrists/et al realise the gravy train is still running full steam/if they weren't a non voting member of the USA they would get cubaed or haitied.

Mon, 06/20/2011 - 22:17 | 1387476 Squid-puppets a...
Squid-puppets a-go-go's picture

lets not misconstrue, its a loan, not a taxpayer gift

and while its not the smartest/best policy, at least that'll be $50 000 less principle the banksters can weasel interest out of homeowners

Mon, 06/20/2011 - 22:23 | 1387518 topcallingtroll
topcallingtroll's picture

NOt true

In many circumstances the loan can be discharged without repayment.

Tue, 06/21/2011 - 01:21 | 1387975 Urban Redneck
Urban Redneck's picture

But if the loan is discharged, is it treated as taxable income, so the IRS can garnish the debt slave's McWages for the for eternity?

Mon, 06/20/2011 - 22:28 | 1387526 Arius
Arius's picture

loan ? .... lol...

its a gift to banks ... but, hey whats new ?

Mon, 06/20/2011 - 22:55 | 1387637 agrotera
agrotera's picture

"that'll be $50 000 less principle the banksters can weasel interest out of homeowners"...

NOPE, it will be a $50,000 gift from treasury to the banks, not a loan, not help for anyone but the agents of the privately owned Federal Reserve corp and their precious toobigtofailbanks, but more money for payments so that the eventual forclosure will happen later, and when it does, the banks get $50000 more of government guarantees and for all the Fannie and Freddie loans out there, the government pays off the holder of those loans  when Freddie and Fannie are privatized (and we will all be told how great it is) for pennies on the dollar for the value of their income stream that this perfect robbery of a bailout was, it is the final screwing of trillions of future payments thanks to the US taxpayer.

Mon, 06/20/2011 - 23:47 | 1387781 TheMerryPrankster
TheMerryPrankster's picture

Bingo.... QE3.1

Can't wait to see QE3.2, 3.3, 3.4 etc

By 2012 you'll be getting a 50k gift card in the mail with Obama's picture on it, and of course you can only spend it on a new home that's financed by one of the big 5 banks.

Mon, 06/20/2011 - 22:09 | 1387461 Al Huxley
Al Huxley's picture

This f***ing market, and this whole f***ing monetary system is just idiotic.  I've had it.  Just sell gold down to $1300 and I'll settle up for real money and quit the casino.

Mon, 06/20/2011 - 22:09 | 1387466 Mentaliusanything
Mentaliusanything's picture

Bwahahahahahahahahah - Mana now falls from heaven - F@&K the helicopters we own you all now.

Now sensible people get to support useless Jackasses, sounds fair to me

Mon, 06/20/2011 - 22:11 | 1387469 sun tzu
sun tzu's picture

taxpayers => deadbeats => bankers


They coudn't just hand the money over to the banks directly. It would be too obvious. They had to launder it through the deadbeats who will end up losing the homes anyway

Mon, 06/20/2011 - 22:15 | 1387484 Rusty Shorts
Rusty Shorts's picture


Mon, 06/20/2011 - 22:52 | 1387641 Ben Fleeced
Ben Fleeced's picture


((sun tzu/fed assets(+/-14,000,000,000,000))</=(mathemitcis+((fed logic+algebraically challenged treasury)) ?

I THINK? dammit IBM!



Mon, 06/20/2011 - 22:54 | 1387642 Ben Fleeced
Ben Fleeced's picture


((sun tzu/fed assets(+/-14,000,000,000,000))</=(methamitcis+((fed logic+algebraically challenged treasury)) ?

I THINK? dammit IBM!



Mon, 06/20/2011 - 23:00 | 1387656 FriedEggs
FriedEggs's picture

Well put Sun...

Also, when they say 'Loans may be used to pay a portion of monthly mortgage bills, including missed mortgage payments or past due charges including principal, interest, taxes, insurances, and attorney fees.'

Does that mean other portions from the loan can be used for non-housing payments - goodies like, chips and dip...

...smokes and beer and baby formula?

If so, then thats really good on 'their' part...because how many of them can be strict and just stick to giving the money only to housing payments when Wendy's has the Baconater on sale...





Mon, 06/20/2011 - 23:41 | 1387776 Prometheus418
Prometheus418's picture

This is old, and somewhat mini-sized news.

Oddly enough, or perhaps predictably, my home is not underwater, nor am I in danger of foreclosure.

About a month ago, give or take, I got a loan offer for $250,000 from (IIRC) HUD.  It offered 5% fixed rate and a thirty year term- but I had to put my home up as collateral.  

The insane thing about it was that it was presented to me as a homeowner- but had three or four pages about how I could use the money for all sorts of fun stuff, like vacations and new tvs. 

Seemed like a bait with a hook in it to me, so I burned the f'ing thing.

(Remember, this was about a month ago, so all particulars may not be exact- the interest rate, term and amount are the only things I remember for certain.)

Tue, 06/21/2011 - 00:22 | 1387846 FriedEggs
FriedEggs's picture

ahh, interesting - as i didnt think their was anyway that 'they' would setup this loan strictly just for one to use only on house payments and have zero interest...'They' need to make more money as they have bred us to be buyers & consumers...

We are all affected - unless you live in the bush like that tattoed leopard guy and just eat snails and salamanders.

work, buy,

consume, die...


Mon, 06/20/2011 - 23:24 | 1387730 karzai_luver
karzai_luver's picture

the whole last 20 years of the "home market mania" was never anything

other than a wealth transfer to the elite criminals.

You who played and thought you were getting over on the man had your party

now pay up and get over it.


Mon, 06/20/2011 - 23:36 | 1387750 konputa
konputa's picture

outrageous, and spot on.

my wife and i have this moral problem - we pay our bills, and over the last 3 years i've started to feel like i'm being naive.

when will the "bailouts" stop? probably not until blood and violence is so wide spread the general populace is worried that an american idle (sic) star might not make it to work due to a misplaced shiv in his/her liver.

anybody got a shiv that needs misplacing?


Tue, 06/21/2011 - 00:12 | 1387818 Cathartes Aura
Cathartes Aura's picture

divide and rule, all part of the playbook.

pretty much everyone knows "someone" who has stopped paying the mortgage freeing up some disposable cash; those who rent can hardly not feel resentment if they're struggling month to month.

TARP money going to a lucky 6,000 Oregon homeowners:

Starting in April 2011 or so, nearly 6,000 Oregon homeowners will find out if they are to be approved for getting their mortgages and property taxes paid for a year.

there will be growing hostility among neighbours as more people *snap* going forward. . .

Tue, 06/21/2011 - 05:36 | 1388231 Rynak
Rynak's picture

Isn't it funny, how easy it is to redirect peoples thoughts from "where all the wealth ultimately ends up" to "that guy over there got something for free while i didn't!" or "That guy over there is making inflation go up by 0,000000000000000000001% !!!" or "That guy over there is increasing my taxes by one cent!"

"Someone" must be laughing his ass off.

And all this pandering to envy works especially well for the middle class and upper middle class. You make them pay for the holes in the crappy system, add some propaganda, and voila: They will stop complaining about your crappy policies, and instead blame those they're paying for. Heck, it even works with i'd estimate 50% of ZHers, minimum.

It's especially ridiculous with the whole unemployment situation. I can imagine someone having the following conversation with others:

"Okay, let's see. First, we create an artificial chasm in wealth and selfsustainability. Those in the upper ranks will get too much wealth, while correspondingly those of low status get too little or sometimes even none. Then, we transfer the bloat from the upper class to the lower class back again, via taxes for social programs. Now, this may seem as if we achieved nothing but obscurity.... but you see, we don't tell them. The upper class will be busy bashing the lower class, and the lower class will be busy bashing the upper class. With them now being busy and distracted, we can get cheap labour from the lower class, and steal a little bit extra from the upper class, by taxing them more than necessary for the wealth transfer. Both will either not notice, or blame it on each other. What a fucking bunch of losers, haha!"

Tue, 06/21/2011 - 06:10 | 1388254 topcallingtroll
topcallingtroll's picture

I dont see why we cant complain about crappy policies and paying for holes in the system at the same time.

I certainly see no virtue in the people taking advantage of these holes to make them bigger at the expense of those of us forced to fill them in.

Tue, 06/21/2011 - 07:02 | 1388273 Rynak
Rynak's picture

They do not take advantage. They in the big picture simply make you pay for what should be theirs to begin with. But you're unwilling to accept this, because you want to believe, that you actually deserve what you own, and that such a wealth distribution is sustainable at all.

What you and state balance-sheets see as "holes" aren't really holes.... it is simply a loop of wealth redistribution.... the actual holes, and deficits, do not come from the loop itself, but from the anomalies which this system creates (i.e. reduced/increased work-input, under/over production/consumption, import/export bias), as well as the cash which the elite is sucking from this loop.

Or to phrase it in more simple words: The loop itself is simply you earning too much, because "they" earn too little, you then transfering some of this back to them, so that you can continue earning too much, are then again made to.... you see where this is going. The problem (which actually is the whole point of it), is that this obscures what's actually going on, and creates all kinds of crap as sideeffects... banks and other high-profile players then make money from those defects, by lending cash. So basically: Running a system into the ground, and then profiting from it by lending to the lusers.

Mon, 06/20/2011 - 22:11 | 1387470 gbresnahan
gbresnahan's picture

I started writing a really heated reply but it was getting too long-winded.

Enough with the bailouts! If you can't afford your house, you lose, deal with it.

Rent a fucking apartment or move into your parents basement.

Mon, 06/20/2011 - 22:17 | 1387489 Squid-puppets a...
Squid-puppets a-go-go's picture

lose? Who to? MERS clients



I tell you what it would actually pull america's consumer economy back on its feet faster if obama paid off every fuckwit's mortgage , delinquent or not, and started again from scratch

Mon, 06/20/2011 - 22:22 | 1387515 pods
pods's picture

That would extinguish too much debt.  Systemic debt must expand or we are done.  


Mon, 06/20/2011 - 22:31 | 1387551 nmewn
nmewn's picture

"I tell you what it would actually pull america's consumer economy back on its feet faster if obama paid off every fuckwit's mortgage..."

I'm of the opinion any mortgage held by FNM & FRE has already been paid off because they have been bailed out by the people...technically.

Centrally planned conundrums ;-)

Mon, 06/20/2011 - 22:45 | 1387612 darkpool2
darkpool2's picture

Well actually it would do more for Chinas economy since there is tremendous leakage to the exporting nations from increased consumer spending in the US

Mon, 06/20/2011 - 22:45 | 1387616 darkpool2
darkpool2's picture

Well actually it would do more for Chinas economy since there is tremendous leakage to the exporting nations from increased consumer spending in the US

Mon, 06/20/2011 - 22:28 | 1387507 OS2010
OS2010's picture

+1000, gbresnahan

Good savings account, and no loans or credit cards in this house.

I said this very same thing three years ago, and then many others in reply said I had no compassion for those who were in trouble.  I had enough moral fiber (amazingly) to bite my tongue and not ask them when they would have compassion for me for being driven into the poorhouse for those "poor folks." 

It's now been just about too much for honest people, isn't it?

Mon, 06/20/2011 - 22:25 | 1387532 topcallingtroll
topcallingtroll's picture

Yeah it is sad if you are a fuck up or a deadbeat you get rewarded in this country

If you work hard, live beneath your means, and try to be responsible you are rewarded by having to pay for all the fuck ups and deadbeats.

Mon, 06/20/2011 - 23:26 | 1387736 karzai_luver
karzai_luver's picture

wah wah wah.


Tue, 06/21/2011 - 00:09 | 1387825 topcallingtroll
topcallingtroll's picture

I give round one to the libertarians.

The socialists are coming on strong for round two, reaching critical mass.  I give it two more hours before they thoroughly dominate the thread.

Tue, 06/21/2011 - 02:15 | 1388050 Fed Supporter
Fed Supporter's picture

Somebody call a Whaaaaaaambulance.  Sniffle Sniffle.

Tue, 06/21/2011 - 00:52 | 1387927 OS2010
OS2010's picture

karzai_luver, clearly you forget:  If honest people stop being honest, you folks will run out of suckers to fleece.  Who will be crying then?

Tue, 06/21/2011 - 02:17 | 1388056 Fed Supporter
Fed Supporter's picture

Sniff sniff.

Mon, 06/20/2011 - 22:31 | 1387537 ihedgemyhedges
ihedgemyhedges's picture

"Rent a fucking apartment................."

Is that a guarantee?  If so, what's the address????????????????

Mon, 06/20/2011 - 23:20 | 1387688 Ben Fleeced
Ben Fleeced's picture


Works when your 40 and didn't bank on shares of GM..... Yeah, at 3.46 it was still worth it. Now, it's a war! The new 60 is 40 and 1/4 of us are gonna outlive you. Eat my tight dusty white assssssssssssssssss! Kennedy was behind in the pols in '62. Everyone had problems with Booby. Idiot Mass. boys on pills. Only 30 Y/O beleive in Camelot and vacation in the Hamptons. Avalon has better beaches and less services.

My family had a different dream, where people were given equal chances (period).


Mon, 06/20/2011 - 22:15 | 1387473 ceilidh_trail
ceilidh_trail's picture

It never stops. These sob's live off the deadbeat vote. As long as people can vote themselves someone elses money, it will never end. I work. My wife works. I pay my bills. I live in a plain ole 3 bedroom house that is 2 years from being paid off. Be cause I live right, I'm punished by having to support these bums. Ain't it great? 

Mon, 06/20/2011 - 22:22 | 1387516 AmCockerSpaniel
AmCockerSpaniel's picture

It's better than that. You'll be taxed to pay for all this (no free lunch). Oh $#&@; I'm in that boat with you!

Mon, 06/20/2011 - 22:12 | 1387475 zorba THE GREEK
zorba THE GREEK's picture

 Is this to replace the present program that makes foreclosures illegal so that people can

 stay in their homes for years without making any mortgage payments?

Mon, 06/20/2011 - 22:13 | 1387477 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

It is both interesting and non-accidental that in order to receive this money, you must prove that you are irresponsible.


Will even one home "owner" have the sense to convert their $50K into gold bullion?

Mon, 06/20/2011 - 23:38 | 1387763 HungrySeagull
HungrySeagull's picture

I thought about it. Really carefully.

You said it. I did not.

It would please me to no end to see the 50K repaid with interest to Dear Obama and profit the rest.

Mon, 06/20/2011 - 22:23 | 1387486 CrashisOptimistic
CrashisOptimistic's picture

Suppose you own your house, paid 100%, no remaining mortgage.  You miss no payments.  You execute no jingle mails.  

What sort of reward does the gov't offer to offset the loss of net worth due to house price decline?

Answer from bureaucrat: You don't need the money.  Why would we give you any?  Or loan you any?  This program is for people who can't pay their bills.  Not for scum like yourself who does pay them.

Mon, 06/20/2011 - 22:26 | 1387514 DogSlime
DogSlime's picture


What sort of reward does the gov't offer to offset the loss of net worth due to house price decline?

You get shafted.  Responsible behaviour is not welcome these days.

You'll probably get rewarded in the afterlife, though... if the banks haven't screwed that up by the time you get there.

Stinks, don't it?

Mon, 06/20/2011 - 22:28 | 1387524 Popo
Popo's picture

Actually, the real answer is: this isn't a bailout for people at all... It's another bailout for the banks.

Mon, 06/20/2011 - 22:41 | 1387594 ihedgemyhedges
ihedgemyhedges's picture

Well, technically this IS a bailout for homeowners.  It just so happens that the banks ARE the homeowners............................even if "the people" LIVING in the home owe $1 on the mortgage.......................

Mon, 06/20/2011 - 23:43 | 1387770 HungrySeagull
HungrySeagull's picture

Networth is irrevelant.

It's your ability to pay the taxes due each year and live within your income each month.

The home can be rebuilt in sections to be better positioned for a imaginary future when real estate picks up again, if ever. At the very least, your home is that... for your life. Not a investment.

Mon, 06/20/2011 - 22:17 | 1387491 mfoste1
mfoste1's picture

This is nothing more than a reelection ploy! Fucking cocksucking politicians

Mon, 06/20/2011 - 22:22 | 1387494 ihedgemyhedges
ihedgemyhedges's picture


Mon, 06/20/2011 - 22:18 | 1387495 SilverDosed
SilverDosed's picture

So another billion to the banks,

this just seems like a political landmine imo, a lot of blowback for such a small amount, why not add a couple zeros to that number? Its the new american way.

Mon, 06/20/2011 - 23:14 | 1387696 knowless
Mon, 06/20/2011 - 22:29 | 1387500 wang
wang's picture

more importantly here is the application


Site is currently slow due to traffic

The U.S. Department of Housing and Urban Development anticipates a high amount of demand for the Emergency Homeowners' Loan Program (EHLP). In order to ensure that program funds are made available in a fair and impartial manner, homeowners interested in applying must first complete a Pre-Applicant Screening Worksheet (see below). If there are more potentially eligible homeowners than there are funds available to assist them, these worksheets will be entered into a randomized selection process. EHLP counseling agencies will evaluate completed screening worksheets to make an initial, informal pre-determination of household eligibility. Homeowners whose completed worksheets meet this standard will be randomly selected,



pre-applicant screening document


and here is the HUD info page

Mon, 06/20/2011 - 22:27 | 1387538 financeguru500
financeguru500's picture

Lol, only 20k homeowners will even get the loan. That is a drop in the bucket versus how many homeowners there currently is. This is the equivelant to Mcdonalds holding a "hiring day" where they only hire 5% of all the applicants.

Mon, 06/20/2011 - 22:35 | 1387554 wang
wang's picture

here is the "fillable" PDF




very complex so hurry if you think you may qualify (sorry you need to be at least three months delinquent and the deadline is July 21 but my guess is they will extend so it's probably not too late to stop paying your mortgage)

Mon, 06/20/2011 - 22:33 | 1387563 financeguru500
financeguru500's picture

I don't own a home. Just a college student here. But the 1 billion in home loans will go away faster than an Amazon Christmas day 1 item sale.

Mon, 06/20/2011 - 22:36 | 1387577 wang
wang's picture

you still may qualify - it is open to US citizens and as the form says "qualified Aliens"


see question 7 and the attached addendum


Are you and ALL of the persons named on your 1st mortgage and promissory note one of the following –
US Citizen, US non-citizen national, or qualified alien (see required documentation attached):
? Yes ? No

Mon, 06/20/2011 - 23:16 | 1387700 knowless
knowless's picture

prowrd to be an umerikan..

Mon, 06/20/2011 - 23:42 | 1387779 HungrySeagull
HungrySeagull's picture

I managed to read it.

A junior lien will be applied against your home should you take this money.


Mon, 06/20/2011 - 23:54 | 1387796 TheMerryPrankster
TheMerryPrankster's picture

Yeah but does the IRS consider this "income"?

A junior lien, I think I smell General Motors Bonds burning...

Mon, 06/20/2011 - 22:19 | 1387501 tekhneek
tekhneek's picture

"Don't buy stuff you can't afford" I think pretty much sums this bullshit up. Really happy to be paying for this though. Extremely happy.

Mon, 06/20/2011 - 22:38 | 1387587 financeguru500
financeguru500's picture

No thats bullshit. This mentality is to make people feel like its the populations fault when in fact it would be the companies that outsourced jobs that caused this problem we currently face. Otherwise, a father would be able to still take care of his family with only a minimum wage job like back in 1960.

Our country produced a false sense of wealth from 1980 to now with the cheap goods produced in Asia. This allowed Companies and CEO's to amass great wealth while the majority of Americans tried to keep up with the Joneses all while wealth disparity increased. The great housing lie (back in the 1980's - 2007) that houses always gain value led people to believe they could buy a house and gain a profit off it, using the value their house has gained to purchase items.

If people believed that bullshit from Saturday night live then banks wouldn't be allowed to conduct fractional reserve lending. Nope its much easier to put the blame on the average American even though they have been taken advantage of for the past 30 years.

Mon, 06/20/2011 - 22:47 | 1387605 topcallingtroll
topcallingtroll's picture

Can't the bankers and those who fell for the scams both be wrong?

Why do we have to blame either bankers or the people who took out a mortgage they couldn't pay?

I blame them both.

Mon, 06/20/2011 - 23:20 | 1387718 knowless
knowless's picture

they're all fucking retards TCT. but you gotta wonder, why the fuck did it happen? cultural conditioning maybe? and was it joe 5 pack that started all that? or was it those with the resources to "develope" "markets"..

americans have been living in la la land for a while now, without consequence. it will all come home, but if it doesn't, then we will live in one hell of a country, and i don't mean that in a positive fashion.


Mon, 06/20/2011 - 23:46 | 1387780 topcallingtroll
topcallingtroll's picture

Yeah I suppose the bankers started it.  Most people rely on the banks to tell them what they can afford when they buy a house.   Blaming the proles is probably like blaming the retarded guy because he can't balance a checkbook.

Tue, 06/21/2011 - 00:30 | 1387875 Prometheus418
Prometheus418's picture

You saw it happen all around, just like I and every other person here did.

We all started sucking down advertising from the TV when we were still in playpens- they told us what to want, how to feel, what to think.  They showed us lives that were nearly impossible dreams, and then sent pre-approved credit applications to everyone on their 18th birthdays.  Some may have managed the debt, but most blew it up, and declared bankruptcy by the time they were in their early 20's.

After bankruptcy, the pre-approved offers came rolling back in, and people who were conditioned from birth to expect a life of senseless opulence were seduced back right back into the system, only this time they had no protection for 7 or 11 years.  

During this time, if they wanted a home- and most do, they applied for mortgages.  With a credit card debt they couldn't pay, but a shiny score for agreeing to participate in the foolishness, they were offered ARM loans with 1-2% interest, glossing over the fact that one day, that interest would change.

You want to see why the banks do it?  It's easy, if you do this:

Find anyone's credit card statements for a period of 12-18 months.  Especially a relatively poor person's.  Make up a spreadsheet in Excel, and enter the information from each statement, making seperate columns for balance, payments made, actual credit extended, late fees, over-the-limit fees, minimum payment and whatever else they are reporting.

Total the rows, and see what I saw.  

Here's the thing about easy credit, and I am somewhat fortunate in that I never fell into this- it's human nature to want something now, rather than to delay the gratification while saving for whatever they need.  As time goes on, things happen- cars break down, water heaters go out, etc- and the banks know this.  Most people carry a balance, and pay the minimum payment.  If one payment is missed for any reason, the minimum payment snowballs in short order to more than the average person's total income.

During that time, most people try to catch up- and many can't.  They pay less than the minimum noted on the statement, and are hit with punishing late fees and eventually, over-the-limit fees.

In a case of this I just looked at, the person whom I was helping had spent $94 at the beginning of an 18 month period.  Because of some external events, she missed two payments.  After that, the sheet looked like a glimpse of hell.  She paid in $700 over those months, and her balance still increased by over $850.  For $94.  In 18 months.

And now, they want to garnish her wages to collect the fees, despite having already banked a profit of 727% on that account.

It is any wonder they push that credit so hard, and make it so easy to get?

Tue, 06/21/2011 - 01:56 | 1388027 TheMerryPrankster
TheMerryPrankster's picture

And the ironic/psychotic thing is this new program is setup to give a "loan" to people who can't pay their loans. So the dumbshits who got hosed by the banks cause they beleive tv/radio commercials and bought a house, took out a 2nd mortgage and a line of credit, all of which they can't ever pay back due to falling wages, falling home prices and a generally psychotic economic system, now get another fuckin loan.

Whats wrong with this picture. People who are so far underwater, drowning in debt so bad they are walking on the ocean bottom are being offered solid stone collars to make sure they drown, and the way these new HUD loans are being presented, people are going to que around the block for a chance to put on these stone collars and drown themselves.

Its quite insane, like watching lemmings on fire jumping into a pool of gasoline.

The punchline of course is this enriches the bankers even more while bankrupting the suckers and making the taxpayers pay for the priviledge of watching this carnage of the banks raping us.

Can anybody in their right mind actually think this is wise economic or political policy?

i thought the country was in sad shape when the banks looted the treasury with Paulson divvying up taxpayer money for the banks. Emptying the treasury was bad enough, now it would appear they are using the empty treasury for a vomitorium and we are the janitors.

Tue, 06/21/2011 - 02:32 | 1388082 agrotera
agrotera's picture

Hear-hear...more truthy stuff from TheMerryPrankster!!!

Mon, 06/20/2011 - 23:48 | 1387791 CrazyCooter
CrazyCooter's picture

In one thousand years, a significant portion of the "public at large" will still suck at math. Not sure you can cut it any other way.

Of couse by then, we will all be living the full glory of the green energy revolution; chlorophyll.

Always remember; it only takes one guy to drive the hay truck, the other ten bastards buck hay. It's how life is always going to be. This shit we got today (in terms of timeline) is a microbe on the ass of a gnat on the ass of an elephant. It just seems like a really long time in terms of human life.



Tue, 06/21/2011 - 02:07 | 1388039 TheMerryPrankster
TheMerryPrankster's picture

In one thousand years the public at large will consist mostly of radioactive cockroaches and twinkies. The boat is sinking on homo sapien. The fire and wheel thing were brilliant, after that we lost our way.

Spending our days finding ways to scam each other out of worthless paper was not quite the height I hoped humanity would reach.

Even cockroaches don't make you sign a junior lien before they chew your eyes out and gnaw on your soul.


Mon, 06/20/2011 - 22:22 | 1387502 mynhair
mynhair's picture

Bring on the new Dummo voters!

for those of you late to the party.

Tue, 06/21/2011 - 07:50 | 1388357 Diogenes
Diogenes's picture

Are you kidding?? Americans put dummies in the white house all the time.

To find a president with brains you have to go all the way back to.... Richard Nixon.

Mon, 06/20/2011 - 22:21 | 1387508 Seasmoke
Seasmoke's picture

Obamas Laundromat is now Open

Mon, 06/20/2011 - 22:22 | 1387511 nmewn
nmewn's picture

"the program is available to homeowners who have seen their incomes fall and who could lose their homes to foreclosure due to circumstances beyond their control, including involuntary unemployment, underemployment, economic conditions or an illness"

Suddenly, I feel ill.

But I'm willing to bet I still wouldn't qualify ;-)

Tue, 06/21/2011 - 00:34 | 1387882 Prometheus418
Prometheus418's picture

I'm willing to bet you don't, either.

I sure as hell am not even close.

Tue, 06/21/2011 - 01:28 | 1387993 Hook Line and S...
Hook Line and Sphincter's picture

I've recently had a painful nocturnal emission, and have been quite incontinent while watching CNBS. Do these symptoms qualify me?

Mon, 06/20/2011 - 22:24 | 1387521 financeguru500
financeguru500's picture

I see this going much worse than what people could ever want.

Instead of walking away from a bad home loan, these people are now indentured servants to the government as these new government loans cannot be gotten rid of through bankruptcy (if they are anything like student loans).

I imagine that is what the stipulation would be. Any American that accepts these loans would be a schmuck to do so unless they never plan on paying back the loan in the end anyways.

Mon, 06/20/2011 - 22:38 | 1387566 pods
pods's picture

When you are drowning, everything looks like a flotation device.


Any American that accepts these loans would be a schmuck to do so unless they never plan on paying back the loan in the end anyways.

Tue, 06/21/2011 - 02:08 | 1388041 TheMerryPrankster
TheMerryPrankster's picture

Even a rope with a boulder attached to it.

Tue, 06/21/2011 - 00:36 | 1387887 Prometheus418
Prometheus418's picture

The repayment terms are simply that the recipient stay current on their mortgage for XX number of months.  After a period of time, the loan is forgiven.

How's that tickle your funny bone?  Now, bend over.

Tue, 06/21/2011 - 07:53 | 1388363 optimator
optimator's picture

They'll pay it back in one weeks wages (inflated Dollars) at some point and say to us, "Who da fool".

Mon, 06/20/2011 - 22:28 | 1387522 apberusdisvet
apberusdisvet's picture

Only union members will be chosen.  It will be interesting to see a list of recipients.

Mon, 06/20/2011 - 22:24 | 1387523 JackInTheBox
JackInTheBox's picture

This is great!  I can't wait for what Obama/Santa will do next.  I lost $50K during during the May 1 silver massacre.  I smell my bailout coming any minute now...wait for it...wait for it...

Mon, 06/20/2011 - 22:29 | 1387531 mynhair
mynhair's picture

Re-elect Obama!

Vote Ron Paul, or Newty, or Mitt, or that dip Gov from Utah!

Never, ever, vote for someone new.  You might upset GW.

Mon, 06/20/2011 - 22:30 | 1387534 Confucious 222
Confucious 222's picture

Guess this is the "bread" part of Bread and Circuses 2011

Mon, 06/20/2011 - 22:32 | 1387558 IQ 145
IQ 145's picture

 precisely, and Libya is the circus part.

Mon, 06/20/2011 - 22:30 | 1387536 AbbeBrel
AbbeBrel's picture

In case you NewYawkers missed it (not likely):

In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.

I think that 62 years more would see me out, as I am only about 14 years old now (mentally)...

But is that a median, mean, or Black Swan (can't be computed with without assistance from M. Mandelbrot when consulting with M. Taleb while walking slowly) timeframe?



Mon, 06/20/2011 - 22:48 | 1387610 mayhem_korner
mayhem_korner's picture

Taleb would dub this "channel stuffing"

Mandelbrot would call it the "infinite fractal"

Tue, 06/21/2011 - 08:15 | 1388408 the not so migh...
the not so mighty maximiza's picture

Waiting for some miracle or just the world to end

Mon, 06/20/2011 - 22:33 | 1387542 bob_dabolina
Mon, 06/20/2011 - 22:36 | 1387559 topcallingtroll
topcallingtroll's picture

I will read it for him.


I don't give a fuck if people have a good reason or a bad reason for becoming delinquent on their mortgage.  Why should taxpayers, many of whom are struggling to pay their bills on time have to subsidize delinquency?

If we continue to reward bad outcomes we are merely going to have more of them. 

Mon, 06/20/2011 - 22:43 | 1387573 bob_dabolina
bob_dabolina's picture

It's just another way to subsidize minorities (mostly) Obama wants to redistribute wealth from (people whom work and are responsible, to people who don't work and are irresponsible)

He also helps WS but that's just because WS was his largest campaign donor.

The middle/working class? They can go fuck themselves.

Mon, 06/20/2011 - 23:37 | 1387753 karzai_luver
karzai_luver's picture

you taxpayers ain't paying jack. at least more than 50-60cents or so.

i say it's a bargain.

wah wah wah.


Mon, 06/20/2011 - 23:42 | 1387764 topcallingtroll
topcallingtroll's picture

shhh....don't tell anyone

Mon, 06/20/2011 - 23:00 | 1387655 tmosley
tmosley's picture

Does a second go by in your life that you don't think of me?

Research isn't racist.  Calling for the extermination of whole groups of people by sterilization is.  Indeed, it goes well beyond that.  It's monstrous.  

But seriously, why so butthurt?  I thought I was always wrong?  If that is the case, why do you spend so much time thinking about me.  When I see a guy, like Cramer, who is always wrong, I don't mention him with every breath.  I IGNORE him.  But you don't.  I wonder why?  Closet homosexual, perhaps?  Or is it that you see that I am in fact right, and you see that we agree on NUMEROUS issues, but you are too arrogant and prideful to admit that, especially after calling me out so vocally as "100% wrong all the time"?

What a sad little guy you are.

Mon, 06/20/2011 - 23:10 | 1387697 topcallingtroll
topcallingtroll's picture

We all think of you all the time Tmosely.


Mon, 06/20/2011 - 22:28 | 1387544 topcallingtroll
topcallingtroll's picture


Goddammit the troll is getting pissed again.

No people bail outs

No bank bailouts

No bank bailouts disguised as people bailouts.

Mon, 06/20/2011 - 22:38 | 1387569 mynhair
mynhair's picture

So,  does this mean you aren't a Sotero or clone vote?

Mon, 06/20/2011 - 22:39 | 1387592 topcallingtroll
topcallingtroll's picture

I voted for George W Bush.

I have not voted since.

Clearly I should never be allowed to vote again.

Mon, 06/20/2011 - 23:02 | 1387659 tmosley
tmosley's picture

You really going to let that be your last vote?

Vote for a third party next time.  You'll feel much better.  I sure do.

Do NOT follow this link or you will be banned from the site!