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Who does Congress really work for anyways? All polls that were done show that a large majority of American don't want a taxpayer bailout for people who can't pay their mortgage, yet here they are cramming these idiotic bailout bills down our throats.
If the American public would cry even half as loud about the waste of this illegal fake undeclared war in some God forsaken wasteland maybe we could get something done. Instead people cry about a bailout that will not happen while giving the thumbs up to bailing out Bear Stearns.
I thought the govt was there to protect the citizens of the USA, not big business that steals from us.
If the American public would cry even half as loud about the waste of this illegal fake undeclared war in some God forsaken wasteland maybe we could get something done. Instead people cry about a bailout that will not happen while giving the thumbs up to bailing out Bear Stearns.
I thought the govt was there to protect the citizens of the USA, not big business that steals from us.
Bailout that will not happen?
"Under the plan, the FHA would take on up to $300 billion in new mortgages for financially strapped borrowers who could show they could afford a new mortgage."
House panel approves $15 billion housing bill - Apr. 23, 2008 (broken link)
Under the guise of "FHA Modernization", some form of this bill will pass... just watch and see.
If the American public would cry even half as loud about the waste of this illegal fake undeclared war in some God forsaken wasteland maybe we could get something done. Instead people cry about a bailout that will not happen while giving the thumbs up to bailing out Bear Stearns.
I thought the govt was there to protect the citizens of the USA, not big business that steals from us.
Hey, no doubt about it, the Iraq invasion was a mistake.
But in case you missed it, there was no BearStearns bailout:
Who does Congress really work for anyways? All polls that were done show that a large majority of American don't want a taxpayer bailout for people who can't pay their mortgage, yet here they are cramming these idiotic bailout bills down our throats.
Of couse so Obama and Clinton will get more votes than McCain who is against it. It is election year! All people who want to walk away or having lis pendens, foreclosure are IMO voting for one of these 2.
It's not the government's job to "protect" greedy, dishonest speculators, house-flippers and liars.
Please rethink your position. When the FED was before Congress and questioned about this issue, he clearly stated that "yes" there is a risk that the $30B of taxpayers money that was "loaned" to JPMorgan may not be paid back in its entirety.
Location: Georgia, on the Florida line, right above Tallahassee
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I'd rather not have a bailout and have the entire US economy crash.
Wait, I'd rather have a bail out and have a job tomorrow.
Dude...someone has to absorb this loss. Who do you suggest should absorb it?
I can stand here and say "NOT ME!" but does that mean NOT YOU!, too? Does it mean NOT YOU or YOU or YOU over there, but that OTHER dude in the corner can take the hit?
Well we'll either have to bail them out on the front-end or the back-end. You choose.
Neither.
What will happen is that the government will try, and try, and try. First through FHA. When no one wants to buy the loans anymore, the Fed will hold onto them. This will cause consumer prices to spike. Eventually, it will fail and the market will prevail, just like it always does.
The most likely outcome is principal reduction on houses for NEW owners. The former owners will all be renters and investors (foreign or otherwise) will be their landlords. Few will "stay in their home" like the government wants us to believe they'd like to.
Nothing different.
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All people who want to walk away or having lis pendens, foreclosure are IMO voting for one of these 2.
