Wednesday, July 30, 2008

Losing A Gift

To illustrate some of what I have been saying for a long, long time, just take a look at this story:

More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis.

After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.


I have said time and again, if you were to redistribute all of the wealth in the world so that everyone was truly equal, the people that have it now would get it back again.



6 comments:

Greg said...

LAS, as usual, the problem is that you are thinking "small." Start thinking "BIG." Don't you know about the audacity of hope?

Socialists in Congress have been working hard on a "BIG" solution. See, if the government simply takes money away from responsible homeowners who are paying their mortgages, and gives it to irresponsible borrowers and lenders, then everyone will have enough and there will be no need for anyone to borrow more money they can't pay back. If this doesn't make sense to you, it's because you are obviously not smart, and therefore not a progressive.

/sarc

Nick said...

I tend to agree with you on this one. There will always just be some people who fail no matter how much of a head start they are given and how much insurance they have against failure. It's almost as if they attract it.

No bailouts will help people who are either ignorant of financial management concepts or fail legitimately. And we shouldn't be providing bailouts to such people or the banks that are supposed to consider such loans more carefully.

LASunsett said...

//Socialists in Congress have been working hard on a "BIG" solution. //

They have to do something to justify that 9% approval rating.

LASunsett said...

Nick, welcome to PYY. I left you a comment on your post on this subject, on your blog.

Mary Ellen said...

Greg and LA- I recommend that you read this column by John Kass in the Chicago tribune, you'll crack up...it's all about the Obama "hopium".

LASunsett said...

ME,

I saw the ad referred to in the column, yesterday. The essay nails it, squarely on the head.

I find it interesting that even with the crappy campaign McCain is running, he is gaining on Obama. Not that many people are jumping up and down about McCain, but once again we get the lesser of the two evils to vote for and it appears that this time, McCain is it.

(PS-I can't help but continue to watch for news that hell has frozen over, after learning of your defection from the Democratic party. What about Obama has turned you off, anyway?)