Well, the "fix" is in and it has nothing to do with helping America.
DO NOT LET UP, CALL YOUR REPS. FLOOD THEIR PHONE LINES, EMAILS, FAXES WITH ONE WORD...NO!
NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
Posted on 09/28/2008 12:30:41 AM PDT by xtinct
“I’d rather be debt free than be a slave to the lender...”
Amen. The more people look upon debt as SLAVERY and less some sort of desirable lifestyle choice, the better off we’ll be.
The banks that are profiting from all this got there on the backs of millions of debtors.
Neither a debtor nor a lender be.
“Can anyone tell me how to check a Bank’s rating?”
Wny don’t you skip the banks and look at credit unions instead? Better run, customer owned, and less rife with the scum that is trying to pick your pocket for a bailout.
The CUNA website has a credit union finder utility, and the NCUA website has a financial statistics utility you can use to compare credit unions.
So do you think we are headed into deflation?
The bill includes a provision that would require the government to try renegotiating the bad mortgages it acquires with the aim of lowering borrowers’ monthly payments so they can keep their homes.
This provision will stop the free market from finding the real value of a home by keeping the real estate market artificially high by not letting the market seek it’s own level by a natural “supply and demand” way.
Today the average home is more expensive than the average buyer can qualify for with a safe fixed rate mortgage. The real estate market will stay in recession for much longer with the government proping up a market that needs to adjust.
Sub prime loans artificially inflated the price of homes by increasing demand, now it is time for the market to find its own level by new buyers paying real market value with a fixed rate mortgage that they have qualified for.
Well, the "fix" is in and it has nothing to do with helping America.
DO NOT LET UP, CALL YOUR REPS. FLOOD THEIR PHONE LINES, EMAILS, FAXES WITH ONE WORD...NO!
It didn't according to this Reuter's article.
The following bulleted item from the article is a direct quote:
"Would direct 20 percent of any future profits from the bailout fund to the Affordable Housing Fund and the Capital Magnet Fund to meet U.S. housing needs. House Republicans, however, have made clear they oppose this provision."
That is ACORN!
So if they buy up all the bad loans and only hope to get some of the money back in the future, does this mean the people that failed to pay thier mortgage get a free house? If so how much time do i have to default on my mortgage?
Does this mean that the people that failed to pay thier mortgage get a free house?
Ugh, just let the market correction handle it. We do not need the Frank-n-shysters to spend our money for us!
Well thats a relief,, we know that if the Rats/government is involved, there will be no profits;-)
Harry Reid saves us all (sarcasm)
http://digg.com/politics/Senator_Harry_Reid_Says_Paying_Income_Tax_is_Voluntary
“I think that the bailout money should only be used to shore up the mortgages for people who couldn’t pay their mortgage due to job loss or major illness.”
I might add those who are innocent victims of divorce. My wife was unfaithful, then filed for divorce. Thanks to “no-fault” divorce, I may still very well lose my house. Too strong of a bias towards mothers to even care if the woman was the one most responsible for the failed marriage. I guess I’ll know a month from today when we go to court.
Thievery from the American Public on the highest order.
sw
I'll tell you what it says. It's way past time to start burning down their houses!
He says the House will vote tomorrow.
I am with you Revolution time again. I say we go back to the original constitution and the original amendments.
Excellent point. There is no reason to get rid of debt now as far as the economy goes. Money going to money heaven is so leveraged it has a unreasonable magnification on the real world. Sad state of affairs.
That’s the old Dodd version of the Paulson Plan. The article is from 5:11 PM EDT, yesterday. Every report now has it confirmed that the Affordable Housing Trust provision is out and that some form of insurance option is in.
The remaining question is whether House Republicans buy into the final deal. Boehner and Cantor have been excellent—I await their words. McCain must do what they do.
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