September 01, 2007

Here's PBS NewsHour on the mortgage meltdown and Bush housing gambler bailout plan



Thanks Frothy for the links...

10 comments:

Anonymous said...

I'm emailing politicians a NO bailout message that makes sense for both Republicans and Democrats. Democrats will maintain unaffordable housing with a bailout, and Republicans will waste more tax dollars with a bailout. Why bailout people who CHOSE to "buy" homes instead of people who have medical emergencies, or social security. Oh yeah, they're really bailing out the banks. Found these addresses:

comments@whitehouse.gov
sf.nancy@mail.house.gov (Pelosi constituent)
AmericanVoices@mail.house.gov (Pelosi non-constituent)

Please let us know if you find others. A lot of the other politicians have annoying forms that request too much personal info in my humble opinion.

Anonymous said...

Since when is it a Constitutional right to own a house? Does that mean my rights are being violated right now? If there was so much of these fraudulent loans going on, why aren't there more mortgage brokers in jail? These talking heads are assholes calling for a taxpayer bailout

Anonymous said...

C'mon people!

It was a pr stunt on the last day of the marking period to ensure a market up day. Nothing more...

Anonymous said...

This is NO BAILOUT! At least not in the sense HPers have been fearing. Anyone who reads the text of Bush's federal housing proposals understands right away that this will not even begin to make a dent in the mortgage resets that are about to occur in the upcoming months.

I don't know if Bush just doesn't get it, if he doesn't understand how severe the problem is- or- if he does understand but doesn't give a rats ass if the country all goes to hell. Either way, he's really clueless or he's really evil. Or, on second thought, is it possible that Bush could both be evil and stupid? Hymmmm?

Anonymous said...

I don't know if Bush just doesn't get it, if he doesn't understand how severe the problem

I understand the problem for the banks and FB's and I don't give a rat's ass. You can put me in the evil camp. Not a penny of my taxes should go to bail out any of the asswipes who participated in this ponzi scheme.

Anonymous said...

WALL STREET SCUM

GT said...

are we really dopes? i'm beginning to feel like a DOPE. this has been a pretty proactive govt, you know, with our Offense going to iraq and iran before anything really is happening there.
so shouldnt it have been obvious that since the govt wasnt being proactive with all these loans going out, (they couldnt have been that clueless), that they would be reactive, and react irrationally with a BAILOUT?

say what you want about it not being a bailout for actual homeowners, whatever. the fact is many-a-tax dollars will be wasted on this.

dopey said...

I thought these subprime mortgages were designed to give a buyer the opportunity to establish a good credit history and then refi into a more traditional mortgage.If you still can't pay ontime, you get a foreclosure in your credit record and then you are really sol. Guess I should have joined the circus in 2005 while it was still in town. I just didn't think Chuck would be along to pay it off for me.

Anonymous said...

For all you people who voted for Bush remember this... The political capital, and trust you gave this man to guide our great country is now the ruin of it. Lets hear it from you, or have you run the other way just like rumy and wolfy. Oh, one last thing...Why would you buy something you knew you couldn't afford? Are you that stupid??

Anonymous said...

Bush just tossed a bone .The people that go on a FHA loan have to pay insurance and that is suppose to pay for defaults .My problem is that I don't really trust that they will underwrite the loans to any standards .

Second, Bush stated on Friday ,in so many words,that he expected current lenders to give a helping hand by re-writing loans and saving people from foreclosure . This is a call for lenders to re-write their own mess if possible .Alot of people missed that line by Bush .

Let the lenders re-write loans at their own expense .There are alot of borrowers that could pay if they were taken out of a 13% adjusted up adjustable loan and put on a lower interest rate(6 or 7%) until their income catches up with a higher payment .This would mean that the lender would have to accept a lower yield on that note ,but it's better than a foreclosure .

Usually when a borrower has a problem with a lender that was fraudulent ,the recourse is the legal remedy .I just wonder if the government has the right to make bad loans to bail out other lenders,and take the bad loans off their hands .

Does Bush think that the government insured loans can be the lender of choice for the next 10 years until prices catch up with inflation ?

Maybe the Government should just buy up all the vacant houses at firesale prices and go into the rental business .