Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Para-Ord.45

The RNC should be cutting this clip up and use it in commericals in the districts\ states of these criminal “congress critters”.


8 posted on 09/27/2008 10:40:42 AM PDT by mrmargaritaville
[ Post Reply | Private Reply | To 1 | View Replies ]


To: mrmargaritaville; uncbob; Dems_R_Losers; TigerLikesRooster; Travis McGee; M. Espinola; Calpernia; ..
I agree with you 100%. A McCain ad based on this video would be great. Also, adding that Baker v. Shays moment would help a lot.

Commentary: Bankruptcy, Not Bailout, is the Right Answer

Excerpt:

This subprime lending was more than a minor relaxation of existing credit guidelines. This lending was a wholesale abandonment of reasonable lending practices in which borrowers with poor credit characteristics got mortgages they were ill-equipped to handle.

Once housing prices declined and economic conditions worsened, defaults and delinquencies soared, leaving the industry holding large amounts of severely depreciated mortgage assets. * * *

So what should the government do? Eliminate those policies that generated the current mess. This means, at a general level, abandoning the goal of home ownership independent of ability to pay. This means, in particular, getting rid of Fannie Mae and Freddie Mac, along with policies like the Community Reinvestment Act that pressure banks into subprime lending.

I would add, in addition, the government should reform other lending policies.

Example: They ought to make it illegal for mortgage lenders to pass accounting responsibilities on to third parties. Mortgage servicing companies often earn money by defrauding home buyers. This type of fraud includes manufacturing bogus records, piling on late fees, penalties, surcharges and bogus legal fees.

Video: 40% - 50% of the Time, Banks Have No Right to Foreclose !

My freeper page has more examples posted near the bottom.

29 posted on 09/30/2008 9:19:32 AM PDT by ex-Texan (Ecclesiastes 5:10 - 20)
[ Post Reply | Private Reply | To 8 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson