August 30, 2007
I spent too much this weekend in Prague, even lost $60 at roulette. Can I get a federal government bailout too?
And I didn't mean to spend that much going out to dinners, and shopping. And those Czech bartenders sure took advantage of us.
I want my taxpayer money! I want my bailout too!
Folks, if the US government spends one f*cking taxpayer dollar bailing out failed flippers and housing gamblers, I'll call for the overthrow of the government (peacefully, and at the ballot box of course). And I won't be alone. If the Federal Government gets into the subprime mortgage business, and then the loans don't get paid back, guess who ends up footing the bill? You got it. You do.
Housing Bailout Chatter Gets Louder
Add another surprising name to the housing-bailout chorus.
Punk Ziegel analyst Richard Bove became the latest high-profile market observer Wednesday to predict that the feds will take action to forestall the collapse of the U.S. housing market.
Bad mortgages "have become a major problem," Bove says in a research note Wednesday. He suggests that the government may end up proposing to ease the pressure on the sagging mortgage market by offering low-cost federally backed loans to homeowners whose adjustable-rate mortgages are about to reset to much-higher rates.