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baystater · 08-31-2007, 05:31 AM

Bush to outline aid to mortgage holders - Yahoo! News (broken link)

After reading this I have decided to get a nodoc, 100% financed, half caf, skim latte mortgage. Not pay for 90 day and have the government help guarantee my loan so I can keep my house.

Awesome!

Lake.Lady · 08-31-2007, 05:36 AM

Ya mean paying for other peoples bad choices doesn't make you feel all warm and fuzzy?

GregW · 08-31-2007, 06:33 AM

Bush's plan will not help anyone keep their home but will try to prevent the mega bankers from suffering from their bad decisions. Seems that the Bushistas have forgotten that markets have to go down in order to go up. The powers that be are just trying to arrange for everybody to get screwed but them. Nothing new.

baystater · 08-31-2007, 06:43 AM

Anyone taking bets on whether Bernake is going to have language that support a rate cuts. With this move today. I think o'l Ben going to lean towards language that does not support a cut.

GregW · 08-31-2007, 06:48 AM

If we want to save whatever is left of our currency’s value I suggest we raise interest rate a few points and drive the speculators out of the mortgage and stock markets. Trade a short-term pain for a long-term gain. Unfortunately this would take more courage than this administration has ever shown.

TnHilltopper · 08-31-2007, 07:03 AM

If the Fed lowers the rate in order to pump liquidity into the market and bail out some of these lending houses, doesn't this drive the value of the dollar down due to adding currency into the market?

ugh, trying to follow Bloomberg or CNBC market analysis is enough to make ones head hurt. I read the financials and it ranges from, oh everything is happy happy joy joy, just a market correction, nothing to worry about to other saying that we need to load up on silver coins, ammo, and dehydrated foods. Does anyone know with even a reasonable certainty?

baystater · 08-31-2007, 10:57 AM

just watched the speech. Think Bernanke going to cut the 18th. We are sooooooo screwed.

AksarbeN · 08-31-2007, 02:57 PM

Who removed the checks and balances in mortgage loans? Has anyone been held accountable? Why were loans made to people who “for their own best interest” shouldn’t have been given the loan? These are new problems that have not be here for some time so why did the system of mortgage change?

Everyone wants something better and newer but everyone shouldn’t and can’t have what they can’t afford – I’m sorry for those who got stuck in the loans but why are those who gave the loans not being held accountable?

katzenfreund · 08-31-2007, 03:02 PM

They are corporations (the ones giving the loans), when are they EVER held accountable by the current administration?

baystater · 08-31-2007, 03:09 PM

Quote:

Originally Posted by AksarbeN

Who removed the checks and balances in mortgage loans? Has anyone been held accountable? Why were loans made to people who “for their own best interest” shouldn’t have been given the loan? These are new problems that have not be here for some time so why did the system of mortgage change?

Everyone wants something better and newer but everyone shouldn’t and can’t have what they can’t afford – I’m sorry for those who got stuck in the loans but why are those who gave the loans not being held accountable?

Banks and Mortgage companies being held accountable for making bad loans?

Hey that sound like really good concept! I wonder if the FED can do anything about it? Oh wait a minute I think the FED is going to cut interest rates the 18th. So after that, everything should be hunky dory. And we won't need to hold anybody accountable for the subprime mess because think will be running smoothly again.
OK people! Nothing to see here! Move along!

OK sarcasm off