Thread: "Protester falls to his knees in tears in front of Chase Bank crying"

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  1. #11  
    Senior Member Zathras's Avatar
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    Well, well, well...turns out everything this idiot was saying is false...anyone surprised? All together now..."What's his DU name?"

    http://www.youtube.com/watch?v=yZZ710w6GXI

    Video: Liberal law student chokes on silver spoon in (false) protest

    The latest anti-business viral video burning up the liberal blogosphere today seems heart-wrenching… that is, until you do your homework.

    Robert Stephens graduated from Carleton College (average cost: $42,942/year) in 2010 and now studies law at The George Washington University Law School (average cost: $70,449/year). His father has a Ph.D. and two master’s degrees; his mother also has a master’s degree. Only in America could a kid have been blessed with so much… and only in America could he still claim to be a victim. America’s capitalist society has apparently leveled a grave injustice against his family and Robert will not stand for it.

    Stephens — who identifies his personal political philosophy as Bolivian socialism — made a trip to New York City this weekend to participate in the “Days of Rage” march on Wall Street. He was arrested Saturday when he refused police requests to get up and out of the way of traffic in the street.

    In his emotional “rage,” Stephens told the sympathetic Socialist/Marxist/Anarchist crowd how an eeeeeevil Wall Street bank had taken his parents’ home away from them:

    Attempts to contact Robert to find out exactly what grave injustices he and his family have suffered have gone unanswered. In the meantime, sympathetic comments on both Robert’s Facebook page and the YouTube video are also… unsettling.

    Our friend Robert and his woeful tale have quickly become darlings of the liberal blogosphere and the mainstream media (and Iran’s Tehran Times!). Here he is in a picture posted at Buzzfeed — an image that perfectly captures him utilizing the biggest tool in the left-wing’s arsenal: the media.

    According to the Daily Kos, Robert should be commended as “a patriot” for spelling out the reason people are protesting. “If you can watch it without being affected, you are as heartless as Dick Cheney,” the site notes.

    There’s just one problem: Robert Stephens’ story is (surprise!) completely bogus.

    Phone inquiries into the county property records & taxpayer services office reveal that the Stephens family home is not and never has been in foreclosure, that property taxes had been paid in full this year and the remaining balance on their mortgage for the half-million dollar home is less than one year’s worth of tuition+fees at their son’s law school.

    The nail in this empty protest‘s coffin is a delightful phone conversation I just had with Robert’s mother, Marquita, where she admitted Chase Bank indeed was not “taking” their home from them. Instead, due to a recent “reduction in income,” they’ve decided to hold a “short sale.”

    When I asked Mrs. Stephens if she and her husband planned to stay in their suburban St. Paul, Minn., surroundings after the sale, she told me they weren’t too keen on the idea. The area is “a bit too conservative,” she said.
    The Blaze
    Solve a man's problem with violence and help him for a day. Teach a man how to solve his problems with violence, help him for a lifetime - Belkar Bitterleaf
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  3. #13  
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    Beat me to it Zathras.
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  4. #14  
    Senior Member Zathras's Avatar
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    Quote Originally Posted by michaelsean View Post
    Beat me to it Zathras.
    Yes....yes I did. :D
    Solve a man's problem with violence and help him for a day. Teach a man how to solve his problems with violence, help him for a lifetime - Belkar Bitterleaf
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    eeeevil Sith Admin SarasotaRepub's Avatar
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    Stephens who identifies his personal political philosophy as Bolivian socialism
    May the FORCE be with you!
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  6. #16  
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    Quote Originally Posted by Tipsycatlover View Post
    Oh Please. What poppycock.

    What happened is that people started using their homes as piggy banks. As the values rose, people refinanced to take out the equity. They then had a super time with all that free money. They went on vacations, they bought new stuff. They spent it. When they ran out, they refinanced again. Eventually they were refinancing in order to make the payments and pay bills. Then they ran out of refinance.
    This wasn't always true. My cousin bought a small house responsibly, but in the first year, a pipe on the second floor burst and the entire house was flooded. Her insurance would not cover the damage because they considered the pipe issue as pre-existing (from the previous owners) and they told my cousin to get the money out of them. But the house had to be fixed, and my cousin took out a home equity loan to make sure that she and her daughter had a place to live. This gave her two regular payments to the bank and, trust me, she didn't get any fun out of it. For the last two years, she has been trying to restructure her loans, but the bank is dragging its feet. Long story, and Dave Ramsey is right: the Obama program to help restructure these loans is a frigging joke. Meanwhile, the previous owners cannot be located. They are elderly and not on the web and they moved out of state.


    No one forced these people to buy homes they couldn't afford, or to refinance the homes they could afford until they could no longer afford it. Chase didn't run around putting guns to people's heads forcing them to take out mortgages.
    While I agree with you in general, there was a lot of pressure on people who could not afford homes to take out these adjustable rate mortgages. A dear friend of mine with a husband and four kids rents a house because they cannot afford to buy. My friend home schools the kids and works at her parish church on a very part time basis. Her husband has steady work but he's not making a fortune. Both are staunch Catholics and very pro-life (hence the kids).

    About six years (and two kids) ago, they went to the bank to see about taking out a mortgage on the house they were renting. The bank was very enthusiastic and really pushed them to buy. It was a really hard sell, and my friend and her husband seriously considered it. Fortunately, my friend is very level-headed and told her husband they needed to go home and think about it before they made any decision. After they went home and did the numbers and calculated the terms of the loan (my friend has a good head for numbers), they realized that they would never be able to afford a house after the ARM reset. They couldn't understand why the bank seemed to think they could afford to buy and why they were urging them to do a mortgage they couldn't afford. They ended up not going back to the bank and continued renting the house, where they continue to live now.

    When the housing bubble burst and the news about the fraudulent loans came out, my friend was like, "There but for the grace of God go I" and that's when she told me how serious the pressure had been. She said it was only her natural reticence and habit of sleeping on decisions before she made them that kept them from taking out a mortgage. Had her husband married a different woman, he'd be broke today and his kids would be sleeping in his mom's basement. The pressure was that intense and her husband really wanted to buy property.

    My friend has a college degree and is very bright. (Their income level is due to her choice to stay home and school her children.) But I can imagine that there were many people of the same income level who were not college educated or who were poorly educated by the crappy public schools. I can imagine that if the bank seemed enthusiastic about lending, these folks figured that the loan must be all right: why would the bank throw away their money? Imagine that you're working class, a minority, or someone who typically gets turned down for loans as a poor risk. Suddenly, the bank is practically throwing money at you. They must know their business right? And you figure you'd better grab the opportunity because you've been turned down so much before. It's like those people who used to get pre-approved credit cards in the mail when they were making minimum wage; it must have seemed like such an bonanza to be extended credit.

    Now I know that everyone is responsible for their own actions. And if I didn't have a friend who actually went through the high pressure sales to get a mortgage she definitely couldn't afford, I might have your same opinion and dismiss all those who took those loans as stupid or careless or greedy. As it is, I think a lot of them were played big time. When the banking industry pulled the rug out from under these people, they really didn't understand what hit them. Yes, there was some natural greed in there. And yes, there was the desire to have more than they really could afford. But they also had this bank telling them they could afford it and they trusted that since they couldn't imagine the banks lending against their own self interest. Nobody told these people that the banks didn't care about making bad loans because they were selling them to Wall Street so they could cut up and sold as triple-A investments.


    A friend of mine did a superb job of being smarter than the stupid who had such a good time. She refinanced her home to buy a rental. Refinanced her home and the rental to buy another rental. Home values rose. She took out equity to buy two more rentals. Then she refinanced three rentals to pay off the mortgage on one rental. She used the total profit from rent to pay down the mortgage on the second rental. Refinanced and paid off that balance. Just before the bubble burst, she sold the first paid off rental and used to proceeds to pay off the mortgages on the last rental and her own home. She has three fully paid for rental homes and a fully paid for residence. In all those years, not one single vacation. Not a day off. Now, she's retired with a nice income, except for one thing. There are still too many people who feel like they shouldn't have to pay rent. It should be free.
    Can your friend adopt me and teach me her ways?
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