Posted on 03/29/2010 1:18:50 PM PDT by kangpin
The Obama administration is trying out a second big-government remedy for people facing foreclosure, but NBC's "Today" failed to mention criticism of the initial program or provide any free-market solutions.
The White House has now tapped $14 billion in TARP funds to expand the administration's existing mortgage assistance program.
Matt Lauer introduced the "Today" show March 29 discussion of the program saying: "New help for millions of homeowners who are facing foreclosure. The Obama administration is rolling out new incentives to the federal mortgage relief program - so what's different this time?"
"If you're unemployed, this is going to give you an ability to have your monthly payments lowered for three months, maybe even six months," CNBC's Sharon Epperson told Lauer, before noting the requirements and assistance for those "underwater."
(Excerpt) Read more at newsbusters.org ...
its a bandaid
It’s a shame that “professor” Obama knows (or cares) as little about contract law as he does about the Constitution of the United States of America. The federal government has no authority over mortgage contracts, and even if it did, it would have no right to use tax dollars from those of us who were responsible to bail out those who were reckless. I hope Obama lives many years, either in remorse over the damage he is doing to freedom or over his failure to destroy the greatest hope for good in the past 1900+ years, but I hope that at most 330 months out of those years will be in our White House.
Conservatives and Christians really hurt Oprah’s rep in the last few years. I think that’s one reason she’s getting out; folks started to see through her.
Really need to do that with the Today show. 1/2 the women in the country seem to watch it before work.
That Ann Currie intereview of McCain where she said Palin was inciting violence by talking about battleground states was the most blatant (and stupidest) bias I’ve ever seen. It was incredible.
PURE redistribution of wealth, ala Karl Marx.
this latest transfer of wealth is being doled out under the guise of “TARP”?
They should walk - but the hope keeps them making more payments.
In the end, they will be bankrupt anyways. But the banks get to mark the loans as “performing” and sell them to the FED at full market value in the meantime...
The people fu$%ed by this are law abiding, payments on time, hard working Americans. And that’s a lot of people.
You want him in office another 27 years? WTF?
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