Bail out those greedy people

monkey24

I was just watching prime time where Eddie Hobbs read out a tear jerking letter from a women 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.

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 ...

/rant

galwayrush

Oh dear:p, She took a gamble and it didn't work out. Life can be tough, you win some, you loose some.

_blank_

Yes, the greedy bastards who drove the house prices up the wall should now have to pay for their failure to realise that it wasn't a bottomless well of money making opportunity.

Eddie Hobbs is a horrible man, who's personality is made worse by that disgusting accent he has.

Sharpshooter

My heads just above water with the mortgage here, anyone know Eddie's PH number?
Oh , wait l only have 1 house.:(

Captain Darling

The other side of these peoples greed is that they were grabbing up as much property as they could, driving up the prices and leaving other people either without a pot to piss in or a gi-normous mortgage for a house that has decreased in value. Negative equity etc etc.

Sqaull20

Any clip or audio?

Captain Darling

Sqaull20 wrote: »

Any clip or audio?

Only the sound of the property market going down the drain and fat cat builders going bust.

Lizzykins

That has to be a joke! We're meant to feel sorry for a greedy ****** who has not one. not two, but FIVE houses. I hope to God her tenants-probably poor unfortunate Poles or Russians-up sticks and go home. Then she'll have sleepless nights worrying about how to pay the multiple mortgages. I won't care. I'll be tucked up nice and warm in my one bed in my one house!

xOxSinéadxOx

I can't believe she had the cheek to ring up about it :eek:

DublinDilbert

Did I hear that she is paying €900/month on a car?

Is that how much a range rover costs? :eek:

I don't think eddie was feeling too sorry for her....

Ross_Mahon

I do not like Eddie Hobbs :mad:

galwayrush

xOxSinéadxOx wrote: »

I can't believe she had the cheek to ring up about it :eek:

:Dsilly bitch, some day after a serious reality shock she will realise how silly she was.

Johnny Bitte

Feck them, in all fairness whinging now that the pot of gold isnt at the end of the rainbow.

SV

What a tool.....

hope she loses it all now for having the nerve to write in about it.

ven0m

I have no sympathy for rich folk who took gambles at the expense of lesser well off people, who are usually the ones who get shat on.

This whole global finance crisis is down to overly greedy bastards living excessive lifestyles off the backs off some very disadvantaged people or people being exploited in other countries etc, & who deliberately went after poor people with the mindset of 'well, if they f**k up, I own their crap & am into them for the rest of their lives, so I won't lose'.

This is a come-uppance for them all. The only people who really are going to suffer with this whole financial crisis are all the greedy bastard bankers, builders & even legal experts who were all in bed together. I really hope the FBI probes in the U.S. result in jailtime & that Congress sticks to it's guns & tells the fat cats on wallstreet where to go, & pushes for extensive FBI probes into Goldman Sachs & all of them.

Please do not get me wrong. I believe in people being able to make money. I even believe in Capitalism. What I have a HUGE problem with is people who think 'never enough' when it comes to profiteering. There has to in reality come a point where people have to realise "ok, we made a shedload of cash, maybe time to get some goodwill going so we can go make some more" - no-one even attempts goodwill, despite it being a reportable & recordable asset on balance sheets, instead they just want to ensure in one fell swoop they bleed you for everything & as much as possible all at once.

These people are in fact clueless & the golden rule is to NEVER EVER bleed at once. You do it over a long period of time so it's less noticable & 'appear' as 'a fair company operating fairly' - I mean jesus, even drug dealers understand this concept.

dresden8

The sad part is we are going to see the government rape the working poor to "kickstart" the property market and give some silly bitch some relief from her problems. After all, she and her like voted for these tossers.

themadchef

God help us all in the Budget. If they think I'm payin' to bail out bottom feeders like this...........let em rot.

El busto with them. Normal people might be able to find and actually afford houses then!

Snake Plisken

you can watch it here just click on the Eddie Hobbs clip http://www.rte.ie/news/primetime/

Its about 5 minutes 30 seconds in that he starts reading the email, think he was just using it as an example as the woman was kind of implying that she was talking about wanting to die.

Darragh29

monkey24 wrote: »

I was just watching prime time where Eddie Hobbs read out a tear jerking letter from a women 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.

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 ...

/rant

I couldn't agree more! Me and the GF had a disagreement about this very letter that Eddie Hobbs read out earlier on! She was all, "Oh my God that is terrible, her house and car will be taken back by the banks"... :eek::eek::eek:

My take on this is these are the very people who are responsible for us being in this mess we are now in. Where we live, when we bought about 4 years ago, was overpriced and basically unaffordable at the time and the reason we had to pay substantially more for the roof over our heads, the only property that we have, is because when we were queueing for this place overnight, the queue was full of selfish parasites like this woman who weren't just happy with one property, no they wanted to keep buying them up to keep up with the Jones's and then renting them out to poor suckers down in steerage who couldn't afford to buy, driving up the price for hard working people who just wanted a fu*king roof over their heads!

Now she has five properties and can't afford to pay the mortgages and she has a 900 Euro HP car loan that she can't service and the house of cards is falling down around her. I'm sorry but I don't feel any sympathy whatsoever.

There are many people in the country who could not get on the property ladder for years and now stand no chance at all, because folks who just wanted to buy to live, were being priced out of the market by investors.

We haven't seen the banks wobble here yet or the real extent of the property crash but by Jesus in a few months time when the real deal comes to town here, we won't know what hit us!

Darragh29

xOxSinéadxOx wrote: »

I can't believe she had the cheek to ring up about it :eek:

It goes to show how far removed Eddie Hobbs is from reality, the consumer champion, for reading out this letter and thinking that anyone in the country would have an ounce of sympathy for her. I was expecting him to read out a letter from someone who just lost their job and can't feed her kids or something, not some yuppie with a 900 Euro a month car under her arse and 5 houses that she bought so she can make money of the backs of other people...

tech77

monkey24 wrote: »

I was just watching prime time where Eddie Hobbs read out a tear jerking letter from a women 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.

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 ...

/rant

Yeah pretty fcuking disgusting irresponsibility.
Heard someone on radio the other day use the term "socialism for the rich".
Presumably this is what they mean. :mad:

dsmythy

I've seen a few of these stories coming out.

A family who worry they can't send their sons to college. A family, that is, living in a 1.5 million euro home and the owners of three cars. Move to a cheaper house sell at least one of the cars and ship the young'uns off to get their education then ya snobby swines.

Darragh29

I'm fu*kin delighted we are in a recession because all this nonsense that has set in over the last few years will thankfully get washed 2 fu*k out of our society.

phantom_lord

damn those evil greedy people trying to make money!




poor_people_lol imo

psycho8itch

€900 a month? LOL sickening.
Lets hope she's enjoyed the ride...cos someones about to land flat on their backside.

aidan24326

phantom_lord wrote: »

damn those evil greedy people trying to make money!

Nobody's saying they didn't have the right to do it, but now that it's going pear-shaped don't come whinging to the rest of us that she can't afford her 900 per month car and her 5 houses. Greedy bitch.

You take a gamble + it doesn't work out = Tough sh1t. That's how the world works. As has been said it's speculators like her who drove the whole thing bananas in the first place.

The banks are also to blame here as they obviously lent her way more money than she could really afford. It's alright buying 5 houses if you actually have the cash lying around in the bank and just want to invest it, but she must be borrowed up to her eyeballs.

Dudess

Des wrote: »

Eddie Hobbs is a horrible man, who's personality is made worse by that disgusting accent he has.

I grudgingly concur...

phantom_lord wrote: »

damn those evil greedy people trying to make money!




poor_people_lol imo

You fail at trolling.

hawkmoon269

ven0m wrote: »

I have no sympathy for rich folk who took gambles at the expense of lesser well off people, who are usually the ones who get shat on.

This whole global finance crisis is down to overly greedy bastards living excessive lifestyles off the backs off some very disadvantaged people or people being exploited in other countries etc, & who deliberately went after poor people with the mindset of 'well, if they f**k up, I own their crap & am into them for the rest of their lives, so I won't lose'.

This is a come-uppance for them all. The only people who really are going to suffer with this whole financial crisis are all the greedy bastard bankers, builders & even legal experts who were all in bed together. I really hope the FBI probes in the U.S. result in jailtime & that Congress sticks to it's guns & tells the fat cats on wallstreet where to go, & pushes for extensive FBI probes into Goldman Sachs & all of them.

Please do not get me wrong. I believe in people being able to make money. I even believe in Capitalism. What I have a HUGE problem with is people who think 'never enough' when it comes to profiteering. There has to in reality come a point where people have to realise "ok, we made a shedload of cash, maybe time to get some goodwill going so we can go make some more" - no-one even attempts goodwill, despite it being a reportable & recordable asset on balance sheets, instead they just want to ensure in one fell swoop they bleed you for everything & as much as possible all at once.

These people are in fact clueless & the golden rule is to NEVER EVER bleed at once. You do it over a long period of time so it's less noticable & 'appear' as 'a fair company operating fairly' - I mean jesus, even drug dealers understand this concept.

Excellent post.

Kintarō Hattori

Around this time last year my girlfriend and I looked at the possibility of buying a house as we didn't want to rent anymore and liked the idea of having our own place. The price of houses and apartments was absolutely scandelous and as a matter of principle we decided we weren't going to pay over the odds for either a one bedroom apartment in the city or a 2-3 bedroom house in the middle of nowhere.
So with her being polish we decided we'd buy a one bedroom apartment in her city of 120,000+ people. This we did and it cost us about €50k. We had saved about half and took a mortage for the rest. Loads of people and especially my boss told us that we were crazy, that it was a stupid investment and we were nuts. They said we were far better off buying a place in ireland and use the 'extra' equity from it to buy the place in poland. I told him I wasn't happy buying a place here as I felt prices were grossly inflated.

I'm happy as f*ck now that we didn't listen to anyone, especially my boss who I converse with several times a day. A week or two ago I pointed out to him that if I had of listened to him I'd be in negative equity by now. His reply was 'Ah well, sure you can never tell'. I took loads of flak from him and others over our decision and I get a reply like that!

How did people justify paying over the odds for very average apartments/houses. More importantly how on earth did they think it could ever continue?

phantom_lord

Kintarō Hattori wrote: »

How did people justify paying over the odds for very average apartments/houses. More importantly how on earth did they think it could ever continue?

it's not the first time, and it wont be the last.

http://en.wikipedia.org/wiki/Tulip_mania

You fail at trolling.

i wasn't trolling!

krpc

Des wrote: »

Yes, the greedy bastards who drove the house prices up the wall should now have to pay for their failure to realise that it wasn't a bottomless well of money making opportunity.

Eddie Hobbs is a horrible man, who's personality is made worse by that disgusting accent he has.

I couldn't agree more.

Perhaps the banks should have used the French approach to financing Mortgages;

But France still believes in strict rules and regulations, Finance Minister Christine Lagarde says.

"Expect two conditions - a down payment of 20% of the value of the house plus mortgage [repayments] which will not exceed 30% of income.

Would have prevented inflated house prices and stopped sheeple flocking into debt.


http://news.bbc.co.uk/1/hi/world/europe/7635327.stm

Black Swan

I'll bet that John and Cindy McCain are not worried about losing their seven (7) houses.*



*Edit: That is if he can still remember how many he has and where they are located*

brianthebard

Sqaull20 wrote: »

Any clip or audio?

https://www.youtube.com/watch?v=F54rqDh2mWA

nice1franko

monkey24 wrote: »

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.

I had the exact same rant last night... and she said she'd a big car loan as well IIRC. The fukcin cheek of it!!

You were caught lootin' missus, suck it up!

not yet

I could not believe that knobend hobbs reading that crap out.......

I say fcuk that greedy greedy cnut, 5 fcuking houses!!! sweet jesus it shows what happened pover the past 10 years, 900 a mounth for a car...some people have to live on that, I'd say that cnuts motto was ''let them eat cake'' well I hope she ends up with fcuk all.

Run_to_da_hills

not yet wrote: »

I could not believe that knobend hobbs reading that crap out.......

I say fcuk that greedy greedy cnut, 5 fcuking houses!!! sweet jesus it shows what happened pover the past 10 years, 900 a mounth for a car...some people have to live on that, I'd say that cnuts motto was ''let them eat cake'' well I hope she ends up with fcuk all.

She will be sweeping the streets

Dudess

It reminds me of that famous appearance on the Late Late Show by Pádraig Flynn where he moaned about how much of a hassle his palatial lifestyle could be...

phantom_lord wrote: »

i wasn't trolling!

"poor_people_lol imo" - course you weren't!

Daithi McGee

Dudess wrote: »

"poor_people_lol imo" - course you weren't!

Just be a bit of poker lingo Dudess. A coloquilism if you will, used a lot on the poker board.

rich_whining_fekkers_lol

That is just how them poker fellas rollz

nice1franko

phantom_lord wrote: »

damn those evil greedy people trying to make money!

poor_people_lol imo

I think it's more to do with the fact that she took the gamble, lost and now wants her money back.

SimpleSam06

Deleted User wrote: »

Perhaps the banks should have used the French approach to financing Mortgages;

This is why I tell people to learn French or German when they ask me whats the best way to survive the recession.

metamorphic

That's infuriating. People like myself who felt that the houses were over priced and haven't bought, have to look at this people who's fault it is getting a bail out?! How about giving me a "government bonus" to buy a house?

oh well you haven't gotten yourself in a sh*t load of debt, we can't help you. Clearly you haven't gotten yourself in an extreme enough situation to be helped. You silly boy, keeping a level head, making some savings and not buying an over priced property.

bah, I need to go slam a door, kick a cat, or push over an old lady...... Raahh!!!

/rant

Loose Lips

ven0m wrote: »

There has to in reality come a point where people have to realise "ok, we made a shedload of cash, maybe time to get some goodwill going so we can go make some more" - no-one even attempts goodwill, despite it being a reportable & recordable asset on balance sheets, instead they just want to ensure in one fell swoop they bleed you for everything & as much as possible all at once.

I mean jesus, even drug dealers understand this concept.

ven0m: It's the same old story. The rich get richer and the poor get poorer. Some people have made lots of money at the expense of poor people. Some greedy people have tried to copy them and are getting their fingers burnt.

I'm not sure your understanding of accounting is very good though. And I'm pretty sure that most drug dealers keep all their assets and liabilities off their balance sheets.

Slan

ven0m

Loose Lips wrote: »

ven0m: It's the same old story. The rich get richer and the poor get poorer. Some people have made lots of money at the expense of poor people. Some greedy people have tried to copy them and are getting their fingers burnt.

I'm not sure your understanding of accounting is very good though. And I'm pretty sure that most drug dealers keep all their assets and liabilities off their balance sheets.

Slan

Maybe the drug dealer point is extreme - but the fact is, goodwill of a business is considered an asset, & increased goodwill can increase the value of a business, & in turn help towards increasing profits & increasing shareholder happiness. The incessant & non-stop pursuit of 'profits no matter what, it's only a peon pissant whose gonna suffer' is what has landed us in the proverbials.

What's worse is, alot of these issues have arisen due to white collar fraudulent circumstances as well, where most of these guys will be able to buy their way out of jail, or play a political 'pass card'. It's wrong, & there's no getting around it.

The financial world CANNOT continue the way it has. It just can't. You can't just keep taking & taking & taking, & doing underhanded deal after unerhanded deal after underhanded deal & not have any consequences. Even the U.S. Congress was smart enough to say "hang on, why should the tax payer pick up the tab cos some greedy bastards gambled, & traded on the shirts off the backs of everyone else?" It might be the first time I applaud U.S. congress as the first time they've had the balls to stand up to something like WallStreet & go "eh, WTF?"

suitseir

Unfortunatley, we are all affected by the current crisis, even those who did not buy the five properties because the long and the short of it is, jobs are being lost on a daily basis, estimated at 45,000 since the new Taoiseach took over. Remember, the guys who really play around with our lives are the short sellers in the global market, more especially in the US. The knock on effect is global right down to the small hick town in this country of ours! Yes, people have gotten very greedy over the past 10-15 years....that is because 30 years ago they had nothing!!!!
And of course, what about the pay outs to farmers? not the ones who have to be compensated for disastrous crops this year, I am talking about the cheque in the post ones.........they do not have to lift a finger and get an anywhere from €20k to €50k annually! And as for the public sector............don't go there! They are now talking about making some in the public sector redundant...........yea, excellent idea, they will make them redudant with a big fat payout and then probably re-employ them. This country is SLOWLY going down the tubes..........and remember, someone out there is making money out of all this............watch the shares!!!!:mad:

pickarooney

Deleted User wrote: »

Perhaps the banks should have used the French approach to financing Mortgages;


Would have prevented inflated house prices and stopped sheeple flocking into debt.


http://news.bbc.co.uk/1/hi/world/europe/7635327.stm

And nobody would be able to afford a house, just like in France.

SimpleSam06

pickarooney wrote: »

And nobody would be able to afford a house, just like in France.

Plenty of people can afford a house in France. The thing is, the rental tenant protection legislation in France and Germany is very strong, so there isn't much of an incentive to go buy your house, unlike in Ireland, where you can be literally turfed out on the street at a weeks notice on the whim of the landlord, not a position a family wants to be in.

pickarooney

SimpleSam06 wrote: »

Plenty of people can afford a house in France. The thing is, the rental tenant protection legislation in France and Germany is very strong, so there isn't much of an incentive to go buy your house, unlike in Ireland, where you can be literally turfed out on the street at a weeks notice on the whim of the landlord, not a position a family wants to be in.

True, but the flipside is that it's extremely difficult to even rent a flat in France, as the minimum conditions to be accepted for a lease are prohibitive. A 40-year-old with a permanent job will still be required to provide a guarantor and earn at least three times the rental price of the property, after tax, and salaries are pretty low.

There are plenty of incentives to go buy a house, such as owning your own property and not paying rent into your nineties and having something to pass on to your offspring.

ven0m

suitseir wrote: »

Unfortunatley, we are all affected by the current crisis, even those who did not buy the five properties because the long and the short of it is, jobs are being lost on a daily basis, estimated at 45,000 since the new Taoiseach took over. Remember, the guys who really play around with our lives are the short sellers in the global market, more especially in the US. The knock on effect is global right down to the small hick town in this country of ours! Yes, people have gotten very greedy over the past 10-15 years....that is because 30 years ago they had nothing!!!!
And of course, what about the pay outs to farmers? not the ones who have to be compensated for disastrous crops this year, I am talking about the cheque in the post ones.........they do not have to lift a finger and get an anywhere from €20k to €50k annually! And as for the public sector............don't go there! They are now talking about making some in the public sector redundant...........yea, excellent idea, they will make them redudant with a big fat payout and then probably re-employ them. This country is SLOWLY going down the tubes..........and remember, someone out there is making money out of all this............watch the shares!!!!:mad:

No, short selling was a TINY part of the problem. The real problem was unregulated/unmonitored trading in futures markets & in subprime markets, where loses were not being tracked or questioned, as earlier trading in these areas was so bloody lucrative it turned into 'ask no questions, tell no lies', which then became institutionalised within the traders modus operandi, as their bosses were too busy back slapping over how much more money they were able to ake & their ridiculously large bonuses. It eventually became considered a 'cash cow' & any real reporting/monitoring stopped as cigars, expensive brandy & back slapping continued amongst the top tiered fat cats.

Factor in banks knowing they were selling loan products to people that would over extend them or place them in the ****s if it went tits up knowing that if people defaulted, they'd still be covered by having assets they can reclaim. And then account for the builders who over extended themselves in credit terms, as themselves, the legal profession, estate agencies & banks all happily clibed into bed to 'cash-in' on people they all knew were always on the cusp of financial jeopardy by giving loans like 102% mortgages to people who could make repayments based on THEN rates of inflation/interest/CoL etc, all because they wanted a quick buck.

That's what caused the current ****storm.

Duckjob

monkey24 wrote: »

I was just watching prime time where Eddie Hobbs read out a tear jerking letter from a women 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.

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 ...

/rant

I don't feel sorry for her at all. It's her greed and the greed of others like her that helped bring the country to the catestrophic position we are at today.

Jet Black

DublinDilbert wrote: »

Did I hear that she is paying €900/month on a car?

Is that how much a range rover costs? :eek:

I don't think eddie was feeling too sorry for her....

Thats crazy.
My car cost €900!! WTF? Have it three years and never gave me a problem.