Home     Contact Us    
Main Board Job Seeker's Board Job Wanted Board Resume Bank Company Board Word Help Medquist New MTs Classifieds Offshore Concerns VR/Speech Recognition Tech Help Coding/Medical Billing
Gab Board Politics Comedy Stop Health Issues
ADVERTISEMENT




Serving Over 20,000 US Medical Transcriptionists

If they weren't qualified - how did they get the loans?

Posted By: sm on 2009-02-19
In Reply to: Stop playing the blame game! - Reality Check

Get real. When I bought my house it took MONTHS to prove my income, the down payment had to sit in my banking account for months, the bank found an old unpaid hospital bill (I was unaware of) that was 10 years old that I had to prove I had insurance at the time and either the hospital screwed up or the insurance company never paid - I almost did not get the loan because of this! So, how do all of these unqualified people, irresponsible people, get home loans when they are so woefully unqualified? Because the lenders didn't give a rats whether or not the person could pay it back. They were boxing these loans together and selling them as securities. Did YOU ever buy a house? Did YOU have to jump through hoops? I sure did and I still have the house. So smoke that!


Complete Discussion Below: marks the location of current message within thread

The messages you are viewing are archived/old.
To view latest messages and participate in discussions, select the boards given in left menu


Other related messages found in our database

How did they get the loans???
That's what I'd like to know.........
My daughter had to take out loans
and work to save money for school. No Pell Grant for her because we make too much money. I guess my money went toward your schooling. Why didn't you just take out loans instead of being handed money from government?
I, too, owe a lot in student loans.
My scholarships helped, but college was still expensive. Of course, my "a lot" is nowhere near $100K.
and why is is okay to buy back some loans and not others?
McCain is saying that the government should buy up all the "bad" mortgages and refinance those loans at lower interest rates and also at the amount the house is now worth - not what it was. So, if it is good for those people, why make it retroactive?
Student loans
Even Barak Obama spent the last 20 years repaying his own school loans. It is ridiculous to think policy maade by a new president are retroactive.
Student loans
How long was she in school? My sister earned a PhD from IU as an out-of-state student and this cost her $100,000.00 for the two years. This included living expenses, books, tuituion, food, clothing, and shelter. What is your daughter's degree? The average tuition at a state university including room and board, books and lab fees is 20,000.0 per year. If your daughter borrowed the entire amount did she get below prime interest on her loan. WHat type of loan is she repapying? THere are more questions but I do not think they are necessary. You are just not an Obama fan.
Why were LOSERS given the loans?
Can you come up with a coherent, intelligent reason WHY any bank would give such irresponsible morons loans?.......TALK ABOUT MORONS!! Screw the banks!!
Did you miss the part where I took out loans?
I only used the Pell grant ONCE. That's the difference. I didn't use it every year because I could.

I am not against welfare. I am against those who cheat and USE the system and don't attempt to better themselves.

I've had a job since I was 16. I bought my own car, I paid my own insurance, I paid my way through everything. I kept my grades up and for one year I used the Pell grant to take classes SO I COULD WORK MORE and pay for the rest of my schooling. By all means, shoot me for that.


what happens to existing student loans?
My daughter, who graduated law school, has over 100K in student loans for her education. She is working hard to pay that back. What happens to those? She is killing herself to pay back while the next guy goes for free? I don't think so. Do we also forgive those loans? If not, I would expect greater default than we now see. And I would certainly expect to see a lot of professionals, the people with those big loans, protesting this deal big time.
More Bush abuses: Phony 9/11 Loans

Nevada tanning salon gets 9/11 loan: audit


By Jim WolfThu Dec 29, 3:10 PM ET


A Texas golf course, a Nevada tanning salon and an Illinois candy shop were among small businesses that may have improperly received U.S. subsidized loans intended for firms hurt by the September 11 attacks, an internal government watchdog has found.


The Small Business Administration's inspector general said in a report made public on Wednesday that in 85 percent of the sample of loans it reviewed, a company's eligibility to receive the money through the program could not be verified.


A leading Senate Republican called for further investigation, but the Small Business Administration said the program was properly implemented.


The one-year, $4.5 billion Supplemental Terrorist Activity Relief, or STAR, program offered loan guarantees to small businesses adversely affected by the September 11 attacks.


However, the Small Business Administration had failed to properly oversee lenders to make sure that only eligible borrowers obtained STAR loans, the watchdog's report found.


Money may have gone to businesses that were not adversely impacted by the terrorist attacks of September 11th or their aftermath, wrote Robert Seabrooks, assistant inspector general for auditing.


Congress authorized the program in January 2002, and set aside $75 million to cover potential defaults. The program was operated through the Small Business Administration's main loan-guarantee program and the loans were made by participating banks. In all, 8,201 loans were approved totaling $3.7 billion, but only 7,058 were actually paid out.


Of 42 STAR-loan recipients interviewed by the inspector general's office, just two said they were aware they had obtained a such a loan. In cases where eligibility could not be established, 25 of 34 borrowers interviewed stated they were not adversely affected by the attacks, the report said.


GOLF COURSE


The report's examples included the Texas golf course, whose owner was cited by a lender as saying people were more interested in staying home and watching the attack on television than playing golf. However, the course was owned by someone else when the attacks took place and the justification for the $480,000 in loan guarantees did not apply to the new owner, the report said.


The tanning salon's lender blamed the September 11 attacks for hurting the Las Vegas casino industry which employed many of the salon's customers.


However, the inspector general found the salon's business had grown by 52 percent in 2001 and 32 percent in 2002 and said there was no evidence the owner could not borrow outside of the program. The SBA guaranteed $437,000 in loans to the salon, which were used to expand.


The Illinois candy shop received $21,250 in guarantees but could not back up its claim that the attacks had delayed the shop's opening, the report said.


Senate Small Business Committee Chairwoman Olympia Snowe, a Maine Republican, said her panel would look into the program.


If abuses are discovered, many questions must be answered by the parties involved, beginning with how and why was this allowed to happen, she said in a statement.


SBA said it has told lenders it will not honor guarantees on defaulted loans that fail to document the September 11 link.


SBA implemented the STAR program as Congress intended, Administrator Hector Barreto said in a statement.


The inspector general said it appeared qualified borrowers were not shut out of STAR loans.


(Additional reporting by Diane Bartz)


Was bound to happen. People want loans they can
nm
Medicaid, food stamps, student loans take a hit...sm

House OKs budget bill cutting $50 billion in aid
Medicaid, food stamps, student loans take a hit



Zachary Coile, Chronicle Washington Bureau


Saturday, November 19, 2005


 













Washington -- House Republicans, after weeks of negotiations, narrowly passed a budget bill early Friday to cut $50 billion from Medicaid, food stamps, student loans and other programs over the complaints of Democrats that Congress is squeezing students, the elderly and the poor to pay for tax cuts for the rich.

The House approved the bill 217-215, after GOP leaders agreed to demands from moderate Republicans to jettison a measure to drill in the Arctic National Wildlife Refuge in Alaska and to slightly reduce proposed cuts to food stamps.

Still, the vote was so politically sensitive that House leaders didn't begin debate until 10 p.m. Thursday and didn't pass the measure until nearly 2 a.m. -- when most news reporters gone and only a few C-SPAN junkies could witness the fiery floor action. No Democrats voted for the bill, and 14 Republicans opposed it.

House Democratic leader Nancy Pelosi of San Francisco said in a floor speech that cutting money for Medicaid, child support enforcement and foster care as the House prepares to vote on $70 billion in tax cuts was a sin.

Republicans are launching an attack on America's children, on America's families, Pelosi said. They are also launching an attack on America's middle class, all of this to give tax cuts to the wealthiest people in our country.

But House Speaker Dennis Hastert, R-Ill., responded that the proposed cuts were needed to rein in the growth of federal spending on health care and other programs.

Medicaid is growing at a 7.3 percent growth rate per year, Hastert said. It has been growing for years. Is there a better way to do it? Is there a more efficient way to do it? Should we find some reforms to make it better? Yes, we should.

The House bill also would split the Ninth Circuit Court of Appeals in San Francisco, a goal of conservatives who have long complained the court is too liberal. But the breakup of the appellate court, which covers the country's Western region including federal cases that arise in California, is not part of the Senate budget bill. Sen. Dianne Feinstein, D-Calif., and senior members of the Senate Judiciary Committee are seeking to strip it from the final package.

The battle over the budget reconciliation bill now moves to a joint House-Senate conference committee, where lawmakers will have to make several critical decisions, including:

-- Will the final budget bill allow oil drilling in the Arctic National Wildlife Refuge?

The Senate version would allow drilling, but a group of House Republican moderates has pledged to oppose any final bill that would open the Alaskan wildlife refuge for development.

-- How deeply will lawmakers cut student loans?

The House bill would cut student loan programs by $14.3 billion, while the Senate version cuts them by $8.8 billion. The Congressional Budget Office has estimated the House bill would cause a typical college student with the average of $17,000 in student loans to pay an additional $5,800 in interest and fees over the length of the loans.

-- Will some legal immigrants lose their food stamps?

The House bill would cut off 220,000 people from food stamps by allowing legal immigrants to qualify for the food aid after seven years, instead of the current five years. The Senate bill does not cut food stamps, and moderate lawmakers are urging that it be dropped from the final budget package.

-- How will the cuts affect Medicaid recipients?

The House bill calls for $11.4 billion in cuts to Medicaid, while the Senate bill trims spending by only $4.3 billion. The House bill also would allow co-payments to rise over time with inflation and would deny Medicaid nursing home benefits to people with $750,000 in home equity.

-- Will child support enforcement be cut?

The House bill would slash funding for child support enforcement by $4.9 billion. The Senate did not include any cuts to child support enforcement.

-- Will Medicare be cut?

The Senate voted to eliminate $5.4 billion in subsidies for some regional insurance companies that agreed to participate in President Bush's Medicare prescription drug program. The House bill does not cut the subsidies.

Congress watchers expect that lawmakers are likely to split the difference between the House's $50 billion in cuts over five years and the Senate's $35 billion in trims. But the negotiations will be difficult for GOP leaders. Conservatives, especially in the House, have been pushing for deeper cuts. Republican moderates plan to lobby to restore funding for some programs.

House Republicans argue the heated rhetoric over the budget bill's effects is overblown because many cuts are simply limiting the growth rate of certain federal programs. For example, the proposed cuts to Medicaid would lower the annual growth rate in spending on the program from 7.3 percent to 7 percent.

But Democrats complained the cuts hit the wrong targets, including students struggling to pay for college. The Congressional Budget Office estimates the bill would increase costs to students and families by $8 billion, including nearly $5.5 billion in costs when students consolidate loans.

You're hurting the students of this nation, Rep. George Miller, D-Martinez, told Republicans in an angry floor speech. You're putting their families in debt. You're piling on the interest rates. You ought to be ashamed of it.

E-mail Zachary Coile at zcoile@sfchronicle.com.


She said ACORN bullied banks into giving the loans....
she just said Obama was associated with them. ACORN did bully banks, and Obama WAS associated with them, through Project Vote. He trained the ACORN folks how to get out and get people registered, hired them to work on his senate campaign, and ACORN endorsed him. And they are under investigation for voter fraud in ALL the swing states. Admitted in Ohio today: yes, there will be fraud, its not our fault, we can't check every registration. Sounds like "He was just a guy in the neighborhood" excuse. Looks like he taught them well.

This guy is so dirty.
Dont talk to me about Debt. Dems wanted loans for
nm
GMAC Resumes Sub-Prime Loans In Order To Sell Cars

So, let's see.  I know that I have been known to lapse into a coma from time to time, but haven't we been here before - making subprime loans in order to stimulate sales and to hell with what happens next? 


Someone correct me if I'm wrong, please, but I'm having such a strange sense of deja vu here. 


How is she more qualified? nm
nm
There are too many other qualified people
No on Hillary. She should be allowed no where near the white house. There are way so many other people out there that are qualified. She is not. And if your husband is impeached he too should not be allowed anywhere near the white house. All Barack needs is to be constantly looking over his shoulder trying to figure out what those two are up to.
Obama not qualified??

SInce you state he is NOT qualified....AND YOU ARE??


Oh, and Obama is more qualified? Please
nm
PALIN is more qualified? Of course she is, but
nm
Biden is even less qualified.......sm
the only thing he can say without screwing it up is "HI! I'm Joe Biden!!!"


I know - how silly that we should know whether he is qualified.
x
She is more than qualified, so what is the problem?
At least Nancy Pelosi spends her time constructively rather than just spewing hatred and anger like some people.
you weren't there - you don't know
XX
Qualified to lead the country? How?
nm
Personally don't think she is qualified but, more importantly.....
as a mother, my biggest concern would be for her children. Most former presidents children were closer to adulthood and didn't really have much of a life because of their father's political position.

I can't even imagine what life would be like for these young children. Learning at such a young age to be paranoid about everything and everyone around you because your parent may be a target for some sinister plot, which then makes the children a target.

Next issue, motherhood. Again, she has young children. Who is going to be their mother while she is consumed with political dealings? They need their mother.

If she has aspirations for a larger role in the United States government, fine but she should finish the job she started first and raise her children.

And... I personally think that the rumors about the baby are terrible. The girl is 16. So what if it was HER baby and not her mother's.

If it IS true, her parents were probably only trying to protect their daughter.
yeah, and Biden had said O was not qualified to be
nm
yeah, and Obama isn't qualified to be in the top
nm
Palin is just as qualified as Obama anyway.
nm
Palis is more qualified than OBAMA even is!
nm
okay, she was wrong....he has no "experience" although qualified.

I suppose you think Obama IS qualified?
nm
Maybe CNN and MSLSD aren't qualified to...(sm)
be teabaggers.  They probably are lacking in experience...like Michael Steele.  Is that why he isn't allowed to speak at the teabagger party?  Has he not teabagged enough to become a proficient head teabagger?
And I never said you weren't entitled!
Give me a break!  You have religious freedom.  I never said you didn't!
First off, weren't there tapes by OBL after 9/11
I thought that's how they knew who it was. I guess I recall the events surrounding 9/11 a little differently. Second off, I agree there's a good possibility he's already dead, but even so, let's be certain. Also, he's surely designated followers to carry out any other plans he had, so dead or not, we need to keep searching and hopefully take down as many of his right-hand men as possible along the way. Finally, OBL is already on the FBI Most Wanted list for murder for the 1998 bombings and as suspect in many others.
You said it. Glad we weren't the only ones.
x
I know you weren't attacking me....
I was just telling you why I thought what I thought. sorry if I sounded defensive, didn't mean to be. :)
No - they weren't facts.......
Twisted spin that fools no one but yourself. You try to pass your drivel off as facts, but, well, I'll let them speak for themselves.
okay, that means they weren't......
$$
So, you weren't exactly being honest.
If your husband is sitting at home buying and selling stocks for your own portfolio, he does not "work" in stocks/trading. I am not assuming anything, I am just going by what you say, which apparently is not true.

It seems that you are the one who is assuming much more about what I am thinking than I have actually said. I thin it's time you visit the "real world."
HOW do YOU know that they weren't tortured?
Did you speak with them and they told you so?

Some were tortured, although innocent, this surely did not make them change their mind.

I defend the innocent ones.

Being a POW doesn't make you qualified to run a country
Especially when you don't know the economy, have no ideas (or even care to) help the Americans through the hard times, and especially when you plan to stay at war for the next 100 years. I could go on and on but it would be too long.
39% of people polled feel SP is as qualified as O
nm
Actually, I do have "at least" minimal intelligence, and I think she's just as qualified as
It's not like she was plucked out of the PTA without doing anything else. I can't see that Obama has done anything more than she has besides vote present and campaign.
Does this sound like McCain is qualified to be president?
Well, we've heard the interview now. And John McCain either doesn't know who the Prime Minister of Spain is, thinks Spain is a country in Latin America, or possibly both.

In case, you haven't seen our updates from last night, yesterday John McCain was interviewed on the Florida affiliate of Spanish radio network Union Radio. And in the interview McCain appeared not to know who the Prime Minister of Spain was and assumed he was some anti-American leftist leader from South America.

After the interviewer presses him a couple times on the point and tries to focus him on the fact that Prime Minister Zapatero isn't from Mexico and isn't a drug lord either McCain comes back at her saying, "All I can tell you is that I have a clear record of working with leaders in the Hemisphere that are friends with us and standing up to those who are not. And that's judged on the basis of the importance of our relationship with Latin America and the entire region."

Then there's a moment of awkward pause before she says. "But what about Europe? I'm talking about the President of Spain."

McCain: "What about me, what?

Interviewer: "Are you willing to meet with him if you're elected president?"

McCain: "I am wiling to meet with any leader who is dedicated to the same principles and philosophy that we are for humans rights, democracy and freedom. And I will stand up to those who do not."

At this point, the interviewer gets tongue-tied presumably because she can't get over McCain not knowing what Spain is.
This is true - least qualified of all candidates to be the President
Sorry but sitting in on the senate and voting "present" more times than not, and being a community organizer does not make one qualified to be President. I think its like I heard the other day. When it comes time to vote and we have a war going on, an economy that's crumbling, jobs going overseas, no matter what people say now they are not going to go with someone who is new and inexperienced. They will go with someone who has been in politics, is a war hero, stands up for his fellow americans, and is obviously not for either side. Plus having Gov. Palin is the biggest plus for the ticket. A new face to Washington, hard on the big boys, won't back down, has the intelligence and know how to get our economy back on track, fights for the rights of citizens, and has the experience of balancing a budget, the smarts to know we need to drill here (and not just smooth talk like the dems are giving us). She and Sen. McCain will help bring this country to be energy independent and not let big CEOs walk away with millions while people like us have to pay. I for one among many are very excited to see what good things President McCain and Vice President Palin will be doing for our country.

If your still upset when McCain & Palin win, don't worry though, if you submit your names that you voted for the democrats I'm sure they will let you all pay more in taxes than the rest of us. After all you seem to think Biden was okay in trying to convince you that its your patriotic duty to pay more in taxes when the CEOs and other execs will walk away with money in their pockets (to include Obama, Clinton & Dodd).
I found it pathetic. Tina Fey is more qualified (sm)
than Palin. Can you imagine if McCain wins and then croaks. The chilling thought of her under-educated butt seated in the President's Chair scares the heck out of me! And if it happens, I'm either crossing the Atlantic or the Pacific to find a new homestead.
If you weren't so unhinged and WRONG
that post would anger me.  Your ignorance only goes to show why you extreme leftists are ruining the democratic party.  I actually feel sorry for the good level headed democrats who have to put with the hateful deluded people like you.
Okay if you weren't shooting me the bird
then what were you trying to tell me oh and high and mighty one?
You consider *it would be so nice if you weren't here* an attack? sm
Wow. 
Excuse me, but I thought we weren't... sm
Supposed to cut and paste large things like this because it takes up too much bandwidth?  I thought we were supposed to provide the link to a website instead.