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hows all that hope and change working out for you...
Treasury sees millions more foreclosures - Yahoo! Finance (http://finance.yahoo.com/news/Treasury-sees-millions-more-rb-1620457917.html?x=0 - broken link)
they did bailouts so that kept the price up, the people lost their jobs so 1/2 million dollar houses but no jobs, do the math. see that RV in front of the house they used to use on weekends now they live in it.
Last edited by Huckleberry3911948; 09-09-2009 at 12:31 PM..
The only way to construct a sentence using the words "hope" and "change" regarding this administration is: "I hope one day to have some change left over from my paycheck."
hows all that hope and change working out for you...
Treasury sees millions more foreclosures - Yahoo! Finance (http://finance.yahoo.com/news/Treasury-sees-millions-more-rb-1620457917.html?x=0 - broken link)
Oh please, How can you post this?
The administration says their foreclosure prevention is on track! and it is!
This is a crisis that Obama inherited. He is not the cause of it. It is fair enough to argue that he has not done enough to help those at risk of foreclosure. Then again, there are many that think that those individuals should bear the entire responsibility for getting in over their head. For myself, I don't see how he can carry the blame for this. That should, more properly, be laid at the feet of Bush and Clinton. They screwed up and Obama has to try to clean up their mess.
This is a crisis that Obama inherited. He is not the cause of it.
Correct. Barney Fwank and his sidekicks should get much more blame than Obama.
As for the foreclosures coming, its going to get nasty. Housing prices may be stabilizing temporarily, but its going to be ugly as more and more foreclosures start piling up. Then housing prices plummet again and we have a whole new group of people trying to decide if they should keep their house or walk away when they owe $75k+ more than it is worth.
Many millions were talked into speculating on houses. Some survived the first cut. As the bust works its way through the economy despite the bailouts and bank supports more are joining the losers.
I suggest the banks set up a real estate rental department and rent the houses to the previous owners at whatever price they can afford. This way the bank can dump the loan but keep the property to borrow against. The major losses accrue to the individual owners who lose the down payment, if any, and whatever amount of equity they may have developed. Under my plan the owners, now renters, still have a roof over their heads.
If the houses were financed by Diteck or similar mortgage brokers the house should be simply given to the current occupants to teach the financial industry that there are some investment areas they should avoid. Financing housing is the job of the bankers not the Wall Street speculators.
This is a crisis that Obama inherited. He is not the cause of it. It is fair enough to argue that he has not done enough to help those at risk of foreclosure. Then again, there are many that think that those individuals should bear the entire responsibility for getting in over their head. For myself, I don't see how he can carry the blame for this. That should, more properly, be laid at the feet of Bush and Clinton. They screwed up and Obama has to try to clean up their mess.
BS- Obama was a Senator and represented many Illinois residents who have lost their jobs and homes. He and all of the American government failed.
In 2010 every incumbent must be voted out and replaced with an Independent or third party candidate. It is the only way we win.
hows all that hope and change working out for you...
Treasury sees millions more foreclosures - Yahoo! Finance (http://finance.yahoo.com/news/Treasury-sees-millions-more-rb-1620457917.html?x=0 - broken link)
OH and you expected him to snap his fingers and make everything go back to normal. THis is the worst recession since the GREAT DEPRESSION. There's no quick fix, genius.
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