I thought April Fools was a few days ago. My only question is - WHAT THE F*CK IS GOING ON IN AMERICA WHEN CONGRESS TALKS ABOUT BAILING OUT FAILED HOUSING FLIPPERS AND GAMBLERS?
Good god people, we're run by monkeys.
Schumer calls for subprime bailout - New York Democrat wants funds to help subprime borrowers.
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.
The cash infusion is needed right away and should go to both help fund community groups aiding troubled borrowers and to directly fund bailouts, Schumer said.
Schumer spoke as chairman of the Joint Economic Committee, a joint committee of Congress, and appeared with Democratic senators Robert Menendez of New Jersey and Sherrod Brown of Ohio.
He said he planned to introduce legislation soon.
