Menendez and Boxer Want ANOTHER Gov't Mortgage Refi Program

Confounded Interest ^ | Anthony B. Sanders

[whitedog57]

Senators Boxer and Menendez will introduce a 15th government mortgage modification program. This one won't cost banks any money if borrowers default, but taxpayers get stuck with the costs.

[whitedog57]

These Marxist clowns just can't stop spending!

[humblegunner]

What seems to have caused you to start excerpting your blog again?

[YHAOS]

More votes to buy . . . and the taxpayers get to foot the cost.

[EGPWS]

Obviously those destroyers of economies feel they have yet more to do to hold the US coffin lid down permanently.

[freekitty]

Boxer got her start in politics in the closet with a fellow councilman in the council room while the other flies to arts unknown for illicit sex. Why should we listen to these fools?

[Mortrey]

Loans based on food stamp “income”, again?

http://spectator.org/archives/2008/10/29/acorns-food-stamp-mortgages

[familyop]

They cause the beginning of the big default process, and because of their guilts and fears, try to outlaw freedoms.

[TxAg1981]

There is another aspect of this that I believe is overlooked.
If the gov't guarantees/owns the loan, then a default puts you in a bind with the govt. It also allows the govt to "own" the properties. They can (and will) garnish wages or other assets to recover their "investment".
So, now the federal govt (in lower case..on purpose), owns more of America's assets. Americans are how wholly owned by the federal government.
Slavery is alive and well in the US.