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Did the financial giants hate the idea from Bush administration and the SEC to have their leveraging to lend relax to over 30:1 (so they would lend more)? Or, did they lobby for it?
If you have something to prove, you post the link and answer you own question.
Obama's new brainstorm is to force banks to refinance to everyone current on their loans even if they can not afford the loan. Sound familiar? This is what the Community Investment Act did to start the housing meltdown. To make it worse, the banks will get taxed to pay for the refinancing that they don't want to do. Sounds like the state is running the banks now. Obama is trying to give away as much "candy" as it takes to win reelection.
And as luck would have it.........he's now leading in the polls. A great little campaigner that man, can't lead worth a lick but he sure can campaign.
Those people already have loans regardless of their credit rating though. They may not be able to afford it now, and eventually add mess by being forclosed or walking away, but with a rate reset they might be able to pay the mortgage...all of it.
Just why do I have the feeling that in order to believe in that I have to believe in this too?
The banks largely caused this ****** mess, so they deserve whatever they get.
By the way, if the people already have the loan, refinancing it isn't increasing any risk. Plenty of people can actually afford to refinance, but they don't have the equity due to the market being down.
Yet another partisan whiner.
Exactly! They are already paying their payments on time and underwater. Paying a better interest rate will only help them and it is better for every one if they don't get foreclosed on because many under water walked away.
Obama's new brainstorm is to force banks to refinance to everyone current on their loans even if they can not afford the loan. Sound familiar? This is what the Community Investment Act did to start the housing meltdown. To make it worse, the banks will get taxed to pay for the refinancing that they don't want to do. Sounds like the state is running the banks now.
Obama is trying to give away as much "candy" as it takes to win reelection.
This is the same nuttiness that caused the Subprime Meltdown, as you suggest! he's working on finishing-off our economy. This is the only way he can have us all at the mercy of govt. We must be made desperate so we'll cling to, instead of rebelling against his "Fundamental Transformation."
Did you know that he was one of the main people that CAUSED this Subprime disaster in the first place? We have proof and if we all email this link to countless others we can make sure he is not re-elected.
And if the banks have to pay an extra tax to pay for the refinancing, and if the banks lose interest that the borrower was already contractually obligated to pay, and if that gets the banks in trouble again, will we just bail them out again? Don't forget many of the banks that the gov't is forcing to make these loans did not get bailouts or got bailouts and did not want them. This is not free market. It is more like socialism.
This is the same nuttiness that caused the Subprime Meltdown, as you suggest! he's working on finishing-off our economy. This is the only way he can have us all at the mercy of govt. We must be made desperate so we'll cling to, instead of rebelling against his "Fundamental Transformation."
Did you know that he was one of the main people that CAUSED this Subprime disaster in the first place? We have proof and if we all email this link to countless others we can make sure he is not re-elected.
So because they made a bad investment or bought a home they knew they could not afford, I have to pay? Yes, taxpayers ultimately will be holding the bag for another failed government mandate.
So because they made a bad investment or bought a home they knew they could not afford, I have to pay? Yes, taxpayers ultimately will be holding the bag for another failed government mandate.
Have you ever considered that not bailing the banks would have been more costly and disastrous than bailing them out. Or you just hung up on the whole principle of the matter?
Last edited by dv1033; 02-02-2012 at 08:53 PM..
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