They forgot to say 'after the cows have gone'

So they're re-regulating the de-regulation they did after the horse has gone.

 

If the past eight years have ANY silver lining, it's proof positive that deregulation never works.

 

Yea, they're tightly regulating mortgages now that people REALLY need to refinance those teaser rates they took out 5 years ago. Guess what? They can't refi now that the rules have changed, so they are stuck or walk. I've owned my house 15 years, never been late on a payment, and cannot refinance EVEN TO GET A LOWER RATE/PAYMENT due to the current rules. A few years ago about 2 out of 15 mortgage applications were rejected. Now it's about 14 out of 15 rejections. Also, although the banks are the ones who greedily screwed up, they 'helped' rewrite the new rules and guess what? They have all but written out any chance of a mortgage broker finding their client the best deal. Now one must just go to the bank and take what they are 'offering' with no chance for shopping for the best rate. Gotta love it! 15 years of no lates and it's impossible for me to LOWER my payment/rate under the new guidelines. GD GW and his band of thieves. I hope Obama taxes them to within an inch of their lives (on par with the rest of us).

 

I am just so thankful that I refinanced when rates were low to a 30 yr fixed 5.25% rate... Even if I tried, I couldn't count how many calls I declined for people trying to get me to go with the ARM's... I even went so far as to go through the motions to calculate how much money I might save over a 5 year period under ideal conditions, and if I just continued paying at my current rate, how many years I might trim off the mortgage, but in the end, the small difference just wasn't big enough to warrant refinancing yet again.

 

They forgot to say 'after the cows have gone'

I thought it was after the horses were stolen.

 

Actually I have most often heard it "after the horse ran away". Although given the context, "after the horses were stolen" seems more appropriate.

 

I thought it was "closing the barn door after the horse is gone" and "'til the cows come home."

 

Or as Groucho Marx said to Margaret Dumont: "I can dance with you til the cows come home. On the other hand, I'd rather dance with the cows til you got home."

 

In Australia, or at least in Adelaide the saying is, "closed the gate after the horse had bolted." I had no idea what the "cows" reference was until I had read several posts.

 

Of course it's an abbreviation. That's what the apostrophe is for. I didn't just fall off the turnip truck, ya know.

I'll bet a lot of farmers wish cows *could* till.

 

I sold a cow to my cousin once; he is still mad at me. He just wanted one because he was the only one in our hollow that didn't have one. He was dirt poor and had no business buying a cow so I sold it cheap but I really tried to talk him out of it. I told him that that calf was going to get big and eat a lot...a lot. He didn't care, he just wanted it. Well to make a long story short that was the biggest damn cow I have every seen and it ate him out of house and home and kept his yard a bare muddy mess. He had to take a part time job just to feed that stupid thing. Nobody around here wants it because it is so big and is pretty mean. Nobody can get near it but him. He smacks that cow on the butt every night cause it is costing him so much and he is still pissed at me for selling it to him.

 

Huh. My Mom got really angry with me when I sold our cow for a handful of beans. When I explained to her they were magic beans she got so annoyed she tossed them out the window. Well, you wouldn't believe the rest if I told you so I won't.

 

Actually, not much is going to be done, they are going to tighten loans, but are going to continue to allow lending institutions to keep raiding the Federal Reserve, so all thats happening is, lending institutions get to make up for their practices by stealing from the taxpayers, and borrowers get screwed.