Srgt Killalot
Member
+6|6841|ireland
as most peeps know ireland is gone into a fecking recession and the property market etc has gone down the crapper.
Now I was just watching prime time where Eddie Hobbs(well known irish money helper guy) read out a tear jerking letter from a woman who is having a really hard time because she has five residential properties and is now finding things hard. He then went on to say the government have to do something.

(rough quote)'I want to die. I have 5 residential investment properties, costing 2000pm over the rent, I have a car on HP costing 900pm which I want to sell, but can't. My mortgage is 1500, paid up. I think I can make it to christmas. I just want to be with my mother in heaven'

Seriously, is this what it has f*cking come to. I am sorry for that women but we are now being asked to bail out greedy f*cking people. This makes me sick. So people are free to rake in money in the free markets but when it goes wrong its other people who pick up the tab.

That women should pay for her mistakes, that is how free markets work. Bailing out banks to keep the world afloat is one thing, bailing out greedy people who speculated on property is quite another.

Everyday I read about this country it usually turns my stomach, cos its because of greedy feckers like her that drove house prices up and sucked vast amounts of cash off people renting who cant afford to get on the ladder and now she wants the average joe to pay to help her get back on track!!

/rant

Last edited by Srgt Killalot (2008-09-29 21:11:45)

deeznutz1245
Connecticut: our chimps are stealin yo' faces.
+483|6912|Connecticut
inb4Cam
Malloy must go
ATG
Banned
+5,233|6948|Global Command
Only five investment properties?


She should do it.
Spark
liquid fluoride thorium reactor
+874|7094|Canberra, AUS
Five...?
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
CameronPoe
Member
+2,925|6974
My man B.I.F.F.O. is not going to 'bail out' anyone. The type of idiot you refer to is going to crash and burn and when they do I'm going to be there to pick up the pieces. Recession ftw!

This is what grates on me: irresponsible capitalism. When people see cheap money they gorge themselves on it greedily thinking things can only go up and up. Cheap money only ends up destroying people in the longer term. Every generation the same tired lessons have to be learned anew. Responsible sustainable growth is what is needed not this shitty uber-capitalism. As Sarkozy put it: we need capitalism based on productivity and social morals rather than capitalism based on speculation.

Last edited by CameronPoe (2008-09-30 00:15:28)

LividBovine
The Year of the Cow!
+175|6799|MN

CameronPoe wrote:

My man B.I.F.F.O. is not going to 'bail out' anyone. The type of idiot you refer to is going to crash and burn and when they do I'm going to be there to pick up the pieces. Recession ftw!

This is what grates on me: irresponsible capitalism. When people see cheap money they gorge themselves on it greedily thinking things can only go up and up. Cheap money only ends up destroying people in the longer term. Every generation the same tired lessons have to be learned anew. Responsible sustainable growth is what is needed not this shitty uber-capitalism. As Sarkozy put it: we need capitalism based on productivity and social morals rather than capitalism based on speculation.
Some sensible words to be sure.  Greed, pure and simple, has caused this.  I honestly hope that Ireland does not bail out the greedy as we are trying to do.  I think it would only put off the inevitable.
"The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation" - Barack Obama (a freshman senator from Illinios)
Braddock
Agitator
+916|6709|Éire
My heart breaks for the woman who bought 5 properties and an expensive car with other people's money... tragic.
JahManRed
wank
+646|7047|IRELAND

Braddock wrote:

My heart breaks for the woman who bought 5 properties and an expensive car with other people's money... tragic.
Allot of the ppl I know who have multiple properties have bought one for each of their kids as a start in life. You can't blame the people who took advantage of the market, blame the ppl who created it.
Braddock
Agitator
+916|6709|Éire

JahManRed wrote:

Braddock wrote:

My heart breaks for the woman who bought 5 properties and an expensive car with other people's money... tragic.
Allot of the ppl I know who have multiple properties have bought one for each of their kids as a start in life. You can't blame the people who took advantage of the market, blame the ppl who created it.
I have no problem with people making sound investments for the future but a lot of people in this country got greedy and stretched themselves way beyond their means and now they are paying the price.

As the old saying goes "You pays yer money, you takes yer choice".

Last edited by Braddock (2008-09-30 10:49:38)

FEOS
Bellicose Yankee Air Pirate
+1,182|6830|'Murka

Braddock wrote:

JahManRed wrote:

Braddock wrote:

My heart breaks for the woman who bought 5 properties and an expensive car with other people's money... tragic.
Allot of the ppl I know who have multiple properties have bought one for each of their kids as a start in life. You can't blame the people who took advantage of the market, blame the ppl who created it.
I have no problem with people making sound investments for the future but a lot of people in this country got greedy and stretched themselves way beyond their means and now they are paying the price.

As the old saying goes "You pays yer money, you takes yer choice".
The issue there is the same as the issue here: People over-extending themselves on too-easy-to-get credit they can't afford, based on piss-poor speculation on their part. High risk, indeed.
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Braddock
Agitator
+916|6709|Éire

FEOS wrote:

Braddock wrote:

JahManRed wrote:


Allot of the ppl I know who have multiple properties have bought one for each of their kids as a start in life. You can't blame the people who took advantage of the market, blame the ppl who created it.
I have no problem with people making sound investments for the future but a lot of people in this country got greedy and stretched themselves way beyond their means and now they are paying the price.

As the old saying goes "You pays yer money, you takes yer choice".
The issue there is the same as the issue here: People over-extending themselves on too-easy-to-get credit they can't afford, based on piss-poor speculation on their part. High risk, indeed.
I completely agree with you FEOS. I sympathise with naive young couples who may be struggling now with their first home or whatever but people with 4, 5 or 6 properties? Cry me a river 'big-shots'!

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