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Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street... ...Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion.
Could it be that Peggy Joseph had it right all along....
This would really be outrageous. Spend even more money we don't have on a political stunt aimed at helping your party in the midterms. F&F are already going to cost the taxpayer tens of billions of dollars.
I guess he needs to get part of his base (blacks, hispanics) fired up and to the polls.
Just MORE wealth redistribution from the radical socialist.
Oh my, can we just imagine if Bush were to do something like this 100 days before an election?
As the government throws more bones to the growing "have nots" more will join the fray.
Keep the people dependent on the government and the government will take over your life.
Obama is not a party to the contracts. Therefore, they are not his to forgive. More over-reach of power by the executive branch.
Any doubt this is exactly why Freddie Mac/Fannie Mae were left out of the financial reform law?
Abuse of executive power. Obama's administration spends like there is no limit on the credit card. Time to cut this garbage out and put this administration on a budget. You know, that obligation they are required to produce in Congress but have failed and refused to produce under Obama!
Obama is not a party to the contracts. Therefore, they are not his to forgive. More over-reach of power by the executive branch.
Any doubt this is exactly why Freddie Mac/Fannie Mae were left out of the financial reform law?
Abuse of executive power. Obama's administration spends like there is no limit on the credit card. Time to cut this garbage out and put this administration on a budget. You know, that obligation they are required to produce in Congress but have failed and refused to produce under Obama!
If the government owns their purse strings they can indeed call the shots.
Look at GM/Chrysler. Fed gov called the shots there as conditions of their bailouts.
If the government owns their purse strings they can indeed call the shots.
Look at GM/Chrysler. Fed gov called the shots there as conditions of their bailouts.
Actually no. What Obama did in negating the contractual agreement between bond holders and the corporation and handing that ownership interest of the bond holders over to the Unions was flat-out theft.
Actually no. What Obama did in negating the contractual agreement between bond holders and the corporation and handing that ownership interest of the bond holders over to the Unions was flat-out theft.
Oh I'm not disagreeing with you..but he did it and it took hold and no one stopped him either before he did it or after it was done.
No one is stopping the administration..that's what I'm saying.
Until that happens they will continue and step even further over that line each time until it's too late..too late I tell you to go back and make it right.
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