I read State Representative Chad Campbell’s populous, socialist tirade (Campbell: Protect the people, not the banks) that was published Dec. 16. Campbell attempts to thwart any effort to avert a future prolonged housing downturn by advocating that the ability to walk away from a mortgage that a borrower is able to pay, will be the default policy in Arizona, forever.
Banks do not vote, but their investors do. Many of my constituents lost capital in their 401(k) due to poor bank performance. Arizona’s “non-deficiency” law is one more way that liberals use the government to redistribute other people’s wealth.
As for Campbell and his inflammatory remarks, I will not respond. I usually stick to a policy that “I will not say anything negative about a person in public unless they are my opponent or a Democrat, up-ticket.” That is definitely not Campbell.
Rep. Jack Harper
District 4
Phoenix
Rich posted at 6:18 pm on Wed, Dec 21, 2011.
Jack,
A mortgage is not a loan, and the emphasis on credit crashed the most basic of our markets. A mortgage is, I have this it is worth $X, I want to borrow less than $X. We allowed banks to invade our privacy to grant one. They started basing them on the ability to pay, not the base value, therefore the market inflated and crashed. It ran into the fact that you can lose a job, but you can't misplace an acre. You put down money, if a bank won't give you a mortgage, you're being overcharged because the bank, in giving a mortgage is, in essence, guaranteeing the price. When they get greedy, and ask for your credit report, you are basically being cheated. It inflated a base value in your economy, real estate, that is fixed as only God can make it, and he finished. The banks crashed your economy, because the government allowed them to violate people's privacy to make funny money. Now you want to make it worse. Use your head!
wdgnas posted at 6:57 am on Thu, Dec 22, 2011.
jack, what about corporations walking away from their loans?
dustbowl11 posted at 7:33 am on Thu, Dec 22, 2011.
Seems to me that the banks are using government to redistribute people's wealth.
Dale Whiting posted at 9:22 am on Thu, Dec 22, 2011.
You know, Jack, another letter recently written critisizing Tom Patterson calls for we writers to do more sourcing on the facts we pronounce. Perhaps you could source your facts, too. Here I'd like you to source the following.
Where you claim that "Arizona’s “non-deficiency” law is one more way that liberals use the government to redistribute other people’s wealth" would you research the number and names of other states who have similiar if not identical provisions applying to first mortgages, and then explain how you conclude that it is 'liberals' in these other states which have enacted them? Also, tell precisely who introduced that piece of legislation in Arizona and why you think they were liberal?
"Double dare you" on this one Mr. State Representative!
Arizona Willie posted at 11:23 am on Thu, Dec 22, 2011.
Mr. Harper ... which way is it?
In your first sentence you say " I read State Representative Chad Campbell’s populous, socialist tirade " and then you speak from your right wing soapbox.
And you start your last paragraph by saying " As for Campbell and his inflammatory remarks, I will not respond. "
Your entire letter WAS a response to Mr. Campbell.
Typical right winger, eh? Talk out of both sides of your mouth.
You say " “I will not say anything negative about a person in public unless they are my opponent or a Democrat, up-ticket.” That is definitely not Campbell." But you have already, in your first sentence labeled his remarks as a " populous, socialist tirade " which your entire response indicates you consider to be negative qualities.
I suppose it is too much to expect logic from a Republican.
VofReason posted at 1:05 pm on Thu, Dec 22, 2011.
How about make it real easy, as a person, don't sign up for something you cannot afford. Good people lost jobs that caused them not to be able to pay, but let's be clear- way more people got loans that knew they couldn't afford them. What happen to personal responsibility?
Rich posted at 9:12 pm on Thu, Dec 22, 2011.
"How about make it real easy, as a person, don't sign up for something you cannot afford..." It everyone did that, especially small business owners, and the founders of our largest businesses, we'd be a third world country with an agarian economy.