Schumer calls for subprime bailout

CNN Money & Yahoo ^ | April 11, 2007

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The federal government should offer troubled borrowers hundreds of millions of dollars to bail them out of subprime mortgage loans, several leading Democratic lawmakers said on Wednesday.

"The federal government can send in an infusion of [money] to prevent foreclosure," said Charles Schumer, a New York Democrat.

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You knew this was coming

[beltfed308]

Schumer is such a putz.

[IllumiNaughtyByNature]

Could the governmental “teet” get any bigger for these people to suck at?

[SmoothTalker]

Those idiots willingly signed up for these flim-flim mortgages and many bought houses well beyond their means which led to rising real estate prices for the folks who didn’t take one of these mortgages. Why should we have to subsidize stupidity?

[100-Fold_Return]

staged events will abound, stainless, now America has decided Jesus is out of style...

[Zuben Elgenubi]

Chuckie has effective killed any future he had in banking.

[hophead]

I bet anyone a weeks pay Chuckie has investments and or friends in the business.

[omega4412]

Do you suppose there’s a reason that subprime loans are called subprime and junk bonds are called junk?

[Pukin Dog]

In other news, the sun rose in the east. Yep, we knew it was coming, and it better not be allowed to succeed.

[OldFriend]

Wonderful. Not only are we paying our own mortgages, now we are expected to pay the mortgages of people who never should have gotten a mortgage in the first place.

[hophead]

“Those idiots willingly signed up for these flim-flim mortgages...”

Greed played a BIG part in those loans on BOTH sides. The people who took those loans were hoping for a big profit in a short time hoping the value of their house would continue to rise like they have in the past few years. Guess what. They lost that bet and now are crying about it.

[Wiseghy]

Ummm... isn’t this actually a bank bailout? This will save banks from having to repossessing and sell property that has deprepreciated.

[agere_contra]

I bet anyone a weeks pay Chuckie has investments and or friends in the business

I'll take that bet. And when I lose the bet, I'll get the gubmint to bail me out.

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[Vasilli22]

Subsidizing stupidity? Hell, it’s the demoncrat way!!

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Apologies - please alter or pull.
I thought it was AP via Yahoo.

[Txsleuth]

OVER MY DEAD CHECKBOOK!

[econjack]

You know, this sounds like the old Savings and Loan debacle of years ago. Those people invested in those companies because they offered higher interest rates on savings. Higher interest = higher risk. When it crashed down on them, how was that my problem? I don't recall reaping any rewards from their risky behavior. Now Chuckie wants me to do it all over again with a bunch of people who bought more than they can afford. NOT MY PROBLEM, SO DON'T TRY TO MAKE ME PAY FOR IT!

[Dead Corpse]

Anything I might say about Chuckie would probably violate the CoC here.

[ex-snook]

BOHICA. If worker’s jobs are not protected then don’t protect investor’s money.