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Alien Bailout


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2007 May 1, 1:37am   19,475 views  266 comments

by Patrick   ➕follow (59)   💰tip   ignore  

Martian

Hi there,

I LIVE in southern CA, I’ve been reading these blogs and reports now for a few months.. AND I have to say that I have seen first hand the subprime types of loans and What type of people they are lending it to. What I mean by “first hand” is that I have friends, yes ,very good friends, that ARE illegal Aliens and they have gotten loans that I would NEVER have even considered… AND I made Alot more money than they do.. The sad thing is that before they got the loans, they informed me of their plan and I thought in my mind that ‘they will NEVER be qualified for one, because I know their alien status and I knew how little they made”… Guess what? I was wrong. On top of that, after they got the loan, I was the one that ‘read; it over for them to make sure that they understood what the monthly payments were gonna be and what type of loan they were getting in to. I advised them against it, BUT they ALL took the loans anyway.

So #1, I am caught in a very tough position. Yes, these are Very close friends of mine. I love them very much and I don’t judge them by their legal status, BUT I am so INFURIATED by our system that they would allow illegal aliens to get a loan to buy a home in the US whereas the real citizens (the legal, law abiding ones) get nailed for abiding by the lending guidlines and not taking on loans like these. #3, DON”T buy into this “its the low-income, hispanics, that Don’t understand english that are being taken advantage of… NO NO NO NO NO.. It is the other way around. THEY are taking advantage of our system and basically laughing all the way to the bank. And with the current ‘Bailout plan’ .. They seem like they will keep on laughing to the bank, because many o them will be ‘bailed out’..

What type of loans did they get?.. ALL of them 100% NO money down, stated income..and yes.. adjustable blah blah blah.

NOW how did they get these loans? Well on the loan documents their is one page that asks you if you are a permanent resident or a US citizen… And you know what?.. The bank or the loan officer just tell them to ‘MARK;’ the box that says that they are US citizen because then they will not ask to see proof. If you mark the box that says ‘permanent resident”, they will ask to see a copy of your green card, etc.. proof..
AND how did these illegal aliens get a VALID social security number so that you can check their credit history?… THEY BUY ONE. (How do I know?.. They tell me.. Remember we are very close friends.. I even know how much they pay for a good social security number..again.. they tell me ) Yes it IS ALL illegal.. ALL OF IT. SO all of you out there, I recommend you CHECK your credit reports Often.
You see its a WIN WIN situation for the illegals, because they got into the homes with NO MONEY down, they did it with a fake (bought) social security number… SO what’s the worse that can happen to them? Yes, they lose a home that they should not have been allowed to own AND their credit gets ruined.. OOPS.. NO not their credit.. Some other poor person’s credit gets ruined… ALL they have to do is BUY another Social Security NUMBER.. Do you GET the PICTURE yet???? AND the BEST that could happen to them if they took this NO RISK gamble… ?? Is that they WALK away with Hundreds of thousands of Dollars in Funny Real Estate Money.. So Can you BLAME These people for taking this OPPORTUNITY of a lifetime?

How do I know?.. Like I said I have VERY dear friends that are illegal aliens. AGain I love them very much. I don’t blame them for wanting to be in this country and doing whatever it takes to make it here.. ITS just a SHAME that our US govt. are NOT able to control nor protect its citizens. In fact , we are making being a citizen very unattractive when you see how much BENEFITS being and illegal has.

So PLEASE dont buy into the poor victim stories… They are NOT victims.. And please don’t blame the appraisers for it… A house will not be SOLD by they appraised value alone. You have to have a willing BUYER to pay the Price. We are being taken advantage and used and WE don’t even know it. Its just another strategy.. by whom.. I don’t know. But if I were them, I would be smiling too.. and telling ALL of my family members to HURRY and JET accross that border.. NO MATTER what it costs, CUZ life is REALLY good here in the US.

Huh, I could go on and on and on.. but I will stop here.. because we are talking specifically about real estate here.. AND frankly I’m tired.. tired of all this upside down mess. Do you know What the word ‘illegal’ means? Let me give you an example: It is illegal to murder someone.. What happens if you do?.. You go to jail for a long long time.. Another example. It is illegal drive past the speed limit.. If you are caught you PAY by getting a ticket…. get the picture?…

OK.. here WE are PAYING someone who has broken the law AND proposing other laws to bail them out.. in otherwords.. SUPPORT their illegal actions… Lord help us… What an UPSIDE down mess.

D.

#housing

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154   Malcolm   2007 May 1, 10:48am  

And why they have a big scar on their sides.

155   Peter P   2007 May 1, 10:48am  

Why their kids? I will be equally happy to mentor other people's kids (OPK) if they are to improve humanity.

156   Malcolm   2007 May 1, 10:48am  

The kids have to pay the airfare with one of their own kidneys. Kidding

157   Malcolm   2007 May 1, 10:49am  

Peter, your nice guy humanitarian side is refreshing but can't stand up to the flood of people you invite whenever you advertise your generosity.

158   Peter P   2007 May 1, 10:50am  

I do not see any moral issue with a voluntary organ market.

159   Peter P   2007 May 1, 10:51am  

Organs are key assets to a person just like knowledge and abilities. If people are allowed to sell labor (i.e. work), they should be able to sell surplus organs.

160   Peter P   2007 May 1, 10:51am  

RE: your nice guy humanitarian

I am a mean humanitarian.

161   Malcolm   2007 May 1, 10:52am  

I do. As it typical with any free market failure, it exploits those lower down on a social ladder. Like many of our discussions, I have to point out, that it seems like it is always the poor little brown man who has to sacrifice for the wealthy American.

162   Malcolm   2007 May 1, 10:53am  

Actually I believe knowledge should be free. I love the Internet. Socrates believed you shouldn't charge for knowledge.

163   Malcolm   2007 May 1, 10:55am  

Back to organs, the reason I disagree, and yes you should have the right to do whatever you want, but the reason I disagree with you is because there is no equity there. It is an act of desperation which normally I would say ok, but this act has a consequence of shortening lives. Skibum should probably agree with the medical fact of giving an organ. It is not equitable, because YOU would not give up an organ for the same price. It is exploitation of someone less fortunate.

164   Peter P   2007 May 1, 10:57am  

Socrates believed you shouldn’t charge for knowledge.

If he had called that 900 number someone would have told him that hemlock was poisonous.

165   Malcolm   2007 May 1, 10:58am  

(in fact, it is illegal to check the status after 3 monhts has passed).

This is precisely the kind of shit I'm talking about. WTF?

166   Malcolm   2007 May 1, 10:58am  

You're a smart guy, I know you know the story behind that.

167   Malcolm   2007 May 1, 11:00am  

In fact that is a true martyr. His sentence was so obviously unjust he literally forced society to stomache their own decision. Unlike Chinese society where they would have just erased any trace of him.

168   Peter P   2007 May 1, 11:00am  

It is not equitable, because YOU would not give up an organ for the same price. It is exploitation of someone less fortunate.

That is highly arguable.

Would you sweep floor at minimum wage? I thought exploiting differences in relative costs is an important aspect of economics.

It is an act of desperation which normally I would say ok, but this act has a consequence of shortening lives.

Of course, the organ seller must consent to higher future insurance premium.

169   Randy H   2007 May 1, 11:02am  

Bap33

With or without any respect, I don't have any "side". You can choose to hide behind someone else's stated ideology if that suits you. I think for myself.

it is your “side” that comes up with ways to take money from people who do work and give it to people that dont. I think we will both agree on that fact.

170   Malcolm   2007 May 1, 11:04am  

Peter P Says:
"May 1st, 2007 at 6:00 pm
It is not equitable, because YOU would not give up an organ for the same price. It is exploitation of someone less fortunate.

That is highly arguable.

Would you sweep floor at minimum wage? I thought exploiting differences in relative costs is an important aspect of economics.

It is an act of desperation which normally I would say ok, but this act has a consequence of shortening lives.

Of course, the organ seller must consent to higher future insurance premium. "

No, I don't need to sweep the floor at minimum wage because I command a higher wage, or I have different sources of income. However, if I were desperate I would, and I have in the past. You are correct about the economics, like I said normally I have no problem exploiting a comparitive advantage up until it becomes exploitation of an individual in the form of harming them.

171   Malcolm   2007 May 1, 11:05am  

Believe me, corporate America should have to answer for the shit they do around the world. They open a factory somewhere specifically for lack of safety laws. As moral consumers we should boycott these criminals.

172   Peter P   2007 May 1, 11:06am  

I just hope the housing market doesn’t come back to balance through massive increase in rents.

A part of the adjustment will come from rent increases. Come on, 3900 is still much cheaper than mortgage, right? ;)

173   Malcolm   2007 May 1, 11:08am  

Despite the numbers I keep hearing from you guys up north, San Diego's vacancies are 5%, and rents are falling.

174   Glen   2007 May 1, 11:08am  

How about this… illegals may be legalized if they build the fence for free.

Sounds fair to me. One thing though –we need to make sure they complete the fence on the Mexican side of the border (wink, wink ).

Ok, I need to get on my soapbox when I hear this type of comment. We don't need more fences and big government enforcement--we need less intrusive government. Here is a quote from Dick Armey:

"We have too many immigrants coming here to get on welfare. But the reasonable response is not to build a police state. It's to shrink the welfare state. We have an educational system that no longer promotes assimilation. But the sensible response is not to exclude foreign children. It's to scrap multiculturalism in the schools and give parents real school choice."

I rarely agree with Armey, but this is one instance where I think he has it right. We should massively increase the number of people who are permitted to legally immigrate. This would broaden the tax base, keep consumer prices low, prevent exploitation of immigrants by unscrupulous employers, and ensure an adequate supply of workers. But we also need to simultaneously reduce the size and scope of government.

Taxpayers should not be upset with immigratns. Instead, they should be upset with big government in all of its manifestations--police state Republicans and welfare state democrats. Immigrants, on the whole, make life better for US taxpayers by (1) paying taxes, (2) receiving few government benefits (it is a myth that they receive substantial government handouts--the last thing most immigrants want to do is identify themselves to the government by applying for benefits because, rightly or wrongly, they believe that doing so exposes them to the risk of deportation) and (3) working for low wages, which is a benefit to business owners and consumers.

Sorry, but anyone who wants to build fences really does hate our freedom.

175   Malcolm   2007 May 1, 11:09am  

I'm really getting sick of these Dick Cheney suit wearing losers who hide their repugnant business practices behind the corporate veil. And I'm a registered Republican for crying out loud.

176   Peter P   2007 May 1, 11:11am  

You are correct about the economics, like I said normally I have no problem exploiting a comparitive advantage up until it becomes exploitation of an individual in the form of harming them.

In principle, I agree with you. But sometimes the line between right and wrong is not so clear.

As moral consumers we should boycott these criminals.

I do not agree. As those countries become richer, they will develop their ow safety laws. Boycotting them will only slow down the process.

177   Malcolm   2007 May 1, 11:12am  

Glen, even uping the quotas won't stop the inflow of illegals. I don't see anyone hear disagreeing about getting rid of the welfare inducements, but we have a real problem down here and we need to enforce the border.

178   Malcolm   2007 May 1, 11:13am  

Then we'll disagree.....but I'm right :)

179   Malcolm   2007 May 1, 11:16am  

First clue, if the line between right and wrong isn't clear, then err on the side of being right.

I know your macroeconomic theory is right on, but these are real people who get to lose limbs in machinery, or have to drink the shit these factories spew into their environments. Unregulated commerce does NOT clean itself up.

180   Randy H   2007 May 1, 11:17am  

Could someone provide me with a historical precedent where the fence-builders fared better than those they were trying to fence-off?

I propose that fences are antithetical to human nature, and especially to American nature.

"Mr. Gorbechev, tear down this wall!" You know, the Soviets didn't tell das Volk in the DDR the fence was to keep them in after all. It was to keep the evil kapitalists out.

181   Peter P   2007 May 1, 11:17am  

Unregulated commerce does NOT clean itself up.

True. I will think about that.

182   Glen   2007 May 1, 11:20am  

Malcolm,

Border security is not the answer. In a free society it is far too easy to come into the country. Even if you "sealed the border," people would find a way in (tunnels, boats, planes, the wide open canadian border, etc.) Once someone makes it into the the interior of the country, there is virtually no enforcement.

So what is the solution? A crackdown on employers of illegal immigrants? I doubt this will have much of an effect. You may get larger employers to change their practices, but I suspect that most illegal immigrants work as domestic workers, day-laborers, etc., so it is hard to track them by their employers.

Raid private homes to find landlords who rent to illegal immigrants or households who hire undocumented gardeners, nannies and housekeepers? And what is probable cause? A spanish surname? Sounds kind of gestapo-like, no?

183   Peter P   2007 May 1, 11:21am  

Could someone provide me with a historical precedent where the fence-builders fared better than those they were trying to fence-off?

The Great Wall of China counts as a fence, right?

The Great Firewall is a separate issue...

184   Glen   2007 May 1, 11:22am  

I propose that fences are antithetical to human nature, and especially to American nature.

Well said, Randy.

185   Randy H   2007 May 1, 11:24am  

I think most people have a cartoon notion of how well borders and walls can seal off a population.

You guys do know that even during the grand castle sieges of antiquity literally thousands of people were able to sneak in and out every night, right? If you can't keep a freaking castle secure how do you expect to use force and barriers to cordon off a third of a continent?

Just curious.

186   Malcolm   2007 May 1, 11:24am  

Yes Glen, that is gestapo stuff. On prior threads I actually took flack for forcing the issue that GOVERNMENT is in charge of law enforcement. We are not going to have landlords and storekeepers making secret little phone calls every time some suspicious brown person interacts with them. If you are interested I'll find my proposal of a full program and I'll paste it here.

187   Malcolm   2007 May 1, 11:25am  

Castles didn't have motion sensors, or secuirty cameras.

188   Malcolm   2007 May 1, 11:26am  

I do think we should make the Rio Grande our moat though. We should stock it with crocodiles.

189   Randy H   2007 May 1, 11:28am  

Castles didn't have electronic surveillance, true. But they did practice on-the-spot judgment and execution for the lucky, and a whole array of other ghastly sport for the not so fortunate. I'd say there was a pretty effective "deterrent" in place in most cases.

190   Malcolm   2007 May 1, 11:28am  

Actually while we are talking about history, I have an example. The Great Wall of China was a success as far as I know. We can't do the same here because Haliburton would overcharge us.

191   Malcolm   2007 May 1, 11:29am  

Randy, if you haven't been the Tower of London is right up your alley.

192   Malcolm   2007 May 1, 11:30am  

They still have some famous chopping blocks there.

193   Malcolm   2007 May 1, 11:31am  

Fair question for you, if all these people were sneaking in and out of the castles how do you know about them? I can't really picture people bragging about it.

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