How can I put this simply?
Let's say you had an uncle who was an unemployed cocaine-using junkie.
But instead of putting him in rehab, you gave him your brand new no-limit credit card, and a kilo of coke. And the keys to your car. And your kids.
Yup. That about sums it up.
Senate passes mortgage rescue plan
Democrats are divided over important elements of the plan, including limits on loans the FHA may insure and Fannie Mae and Freddie Mac may buy. The Senate measure sets them at $625,000, while House leaders — including Speaker Nancy Pelosi, D-Calif. — want the cap as high as $730,000.
July 12, 2008
With Fannie Mae & Freddie Mac on the brink of failure, your corrupt monkeys in DC have just passed a bill to RAISE the size of mortgages they can buy
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16 comments:
730k won't even save Cali.
You still got gold Keith?
Not the paper shit...GLD
GOLD.
Is that a young Kudlow?
http://www.cnbc.com/id/15840232?video=787937968
good video on perma-bull kudlow's show
HUH? I thought Democrats were wise and would solve all our problems? How's that 2006 vote doing for everyone?
If B. Hussein O. isn't ready to be FDR, he needs to step aside. Somebody needs to take him by the hand like a child, hand him speeches and walk him through the Presidency I'm afraid.
It's truly a pity that the Republican Party became the party of the South. The old New England GOP would know exactly what to do; nominate Ron Paul.
All the Southerners can do is seethe about uppity blacks, towel heads, wet backs, and homosexuals, apparently.
Why stop at 730k? Why not $730,000,000.00? It's just as disturbing and absurd.
As Scarlett said, "$300, it might as well be 3 million."
drop in the bucket. everyone might as well embrace banana republicanism and just prepare for the worst now that the Fed will be swapping treasuries w/ Fannie & Freddie... which will last for about a month until the Fed runs thru its last $500 billion and then has the Treasury print like Kinkos.
Revolutrion is on the way.
Politician First, then REIC, then TV pundits and talking heads. Revoke their passports, they have cashed their last checks...
Time for action. Punish the guilty.
The upper limit is irrelevant. Once the Freddie and Fannie crap hit the mortgage market, I see a 4 percent premium on top of the current mortgage rate. That will translate into unaffordible housing for half the country and all the speculatators and builders will disappear. We're going back to the 50's folks. All this socialist help, giving the everyone the opportunity to buy a home is a turd ready to be flushed. Over the centuries, there was only one way to buy a house, save up for it or inherit money. Read your history, it's all there. Doomed to repete our mistakes.
http://www.canada.com/vancouversun/news/editorial/story.html?id=518f176f-4016-4d95-a1cf-176c76b7fc16
Here in Canada the feds just made lending harder. No more 40 yr amort. Min 5% down. This will lower housing costs but save the banking types from themselves.
sorry darryl, you sound hopefull and sincere but I'm afraid to tell you they are just closing the barn door after the horse has already gotten away. You guys are in even worse shape than here as is europe and like them, behind our panic by about a year. batten down the hatches, you guys are just as screwed.
All the Southerners can do is seethe about uppity blacks, towel heads, wet backs, and homosexuals, apparently.
You mean like Texas Republican Ron Paul does in his newsletters and on the House floor, right?
How about we ship the 30 million illiterate illegal immigrants up north and let them breed like roaches in your backyard? They can throw soiled diapers in your lakes and rivers. They can park their cars on cinderblocks next to your house. They can form gangs in your neighborhoods and hack people to death with machetes in your frontyard. You can pay for their welfare and schooling. I'm sure you uppity white people in New England will welcome them with open arms just like you did those Somalians.
Deregulation is a failure.
Libertarianism is a failure.
Regulate the whole financial sector up to the gills. If the taxpayers have to bail out the bankers, than the banks should be run like public utilities. Make every banker who wants a raise run it past five or six regulatory bodies. Then have the taxpayers & customers vote on it.
Jacking up the "jumbo" size to 2/3 of a million is retarded. Aren't the prices high enough already? How much are you supposed to earn anyways? $150,000/year? $200K? $400K? Give me a f(bleep) break already.
As far as the GOP, they are the Greedy Oil Plutocrats, the party for the rich and the retards. Not that the Dems are hardly any better. Too bad the South did not succeed at splitting off from the rest of the country. We could use dumping those retards.
Too bad the South did not succeed at splitting off from the rest of the country. We could use dumping those retards.
It's a good thought, but consider.
We'd be building a huge fence with landmines along the Mason Dixon line and the U.S. owned Mississippi River Canal Zone, to stop the hordes of impoverished rebs trying to steal hard-working American jobs and leech off the high-quality US national health system.
The hyper-corrupt Confederate plantation owners would preside over an agricultural backwater where baby breeding and mosquito breeding compete as the primary productive activity. Only difference between them and Mexico is the signs on the Church.
After the Communist revolution of Florida installed the Guevara regime in 1964, the Cons obliterated all pretense of rights and formalized the one-party military junta system in the remaining Confederate territories.
Of course our GOP business owners would be excited about moving jobs to 'bama where they make $5 a day and unions are illegal. The government shoots subversives and blames it on "alligators".
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