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Schumer calls for subprime bailout
CNN Money & Yahoo ^ | April 11, 2007

Posted on 04/11/2007 1:55:10 PM PDT by stainlessbanner

Edited on 04/11/2007 2:03:12 PM PDT by Admin Moderator. [history]

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.


(Excerpt) Read more at biz.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: housingbubble; realestate; schmuckie; schumer; subprime
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You knew this was coming
1 posted on 04/11/2007 1:55:12 PM PDT by stainlessbanner
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To: stainlessbanner

Schumer is such a putz.


2 posted on 04/11/2007 1:57:04 PM PDT by beltfed308 (Rudy: When you absolutely,positively need a liberal for President.)
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To: stainlessbanner

Could the governmental “teet” get any bigger for these people to suck at?


3 posted on 04/11/2007 1:57:30 PM PDT by IllumiNaughtyByNature (I buy gas for my Hummer with the Carbon Offsets I sell on Ebay!)
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To: stainlessbanner

Those idiots willingly signed up for these flim-flim mortgages and many bought houses well beyond their means which led to rising real estate prices for the folks who didn’t take one of these mortgages. Why should we have to subsidize stupidity?


4 posted on 04/11/2007 1:58:33 PM PDT by SmoothTalker
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To: stainlessbanner

staged events will abound, stainless, now America has decided Jesus is out of style...


5 posted on 04/11/2007 1:58:37 PM PDT by 100-Fold_Return (Starting' to catch on the conspiracy is no "theory??")
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To: stainlessbanner

Chuckie has effective killed any future he had in banking.


6 posted on 04/11/2007 1:58:48 PM PDT by Zuben Elgenubi
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To: stainlessbanner

I bet anyone a weeks pay Chuckie has investments and or friends in the business.


7 posted on 04/11/2007 1:58:56 PM PDT by hophead ("Enjoy Every Sandwich")
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To: stainlessbanner

Do you suppose there’s a reason that subprime loans are called subprime and junk bonds are called junk?


8 posted on 04/11/2007 1:59:10 PM PDT by omega4412 (Multiculturalism kills. 9/11, Beslan, Madrid, London, Salt Lake City)
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To: stainlessbanner
In other news, the sun rose in the east. Yep, we knew it was coming, and it better not be allowed to succeed.
9 posted on 04/11/2007 2:00:08 PM PDT by Pukin Dog (Sans Reproache)
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To: stainlessbanner

Wonderful. Not only are we paying our own mortgages, now we are expected to pay the mortgages of people who never should have gotten a mortgage in the first place.


10 posted on 04/11/2007 2:00:38 PM PDT by OldFriend
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To: SmoothTalker
“Those idiots willingly signed up for these flim-flim mortgages...”

Greed played a BIG part in those loans on BOTH sides. The people who took those loans were hoping for a big profit in a short time hoping the value of their house would continue to rise like they have in the past few years. Guess what. They lost that bet and now are crying about it.

11 posted on 04/11/2007 2:01:35 PM PDT by hophead ("Enjoy Every Sandwich")
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To: stainlessbanner
Ummm... isn’t this actually a bank bailout? This will save banks from having to repossessing and sell property that has deprepreciated.
12 posted on 04/11/2007 2:01:52 PM PDT by Wiseghy ("You want to break this army? Then break your word to it.")
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To: hophead
I bet anyone a weeks pay Chuckie has investments and or friends in the business

I'll take that bet. And when I lose the bet, I'll get the gubmint to bail me out.

13 posted on 04/11/2007 2:01:57 PM PDT by agere_contra
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To: stainlessbanner
All material originating from CNN has to be excerpted and linked, whether or not it's routed through a secondary site.

The full article you posted has to be excerpted.

Please review Updated FR Excerpt and Link Only or Deny Posting List due to Copyright Complaints.
14 posted on 04/11/2007 2:02:06 PM PDT by Admin Moderator
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To: SmoothTalker

Subsidizing stupidity? Hell, it’s the demoncrat way!!


15 posted on 04/11/2007 2:03:42 PM PDT by Vasilli22 (http://www.richardfest.blogspot.com/)
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To: Admin Moderator

Apologies - please alter or pull.
I thought it was AP via Yahoo.


16 posted on 04/11/2007 2:03:44 PM PDT by stainlessbanner
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To: stainlessbanner

OVER MY DEAD CHECKBOOK!


17 posted on 04/11/2007 2:03:46 PM PDT by Txsleuth
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To: stainlessbanner
You know, this sounds like the old Savings and Loan debacle of years ago. Those people invested in those companies because they offered higher interest rates on savings. Higher interest = higher risk. When it crashed down on them, how was that my problem? I don't recall reaping any rewards from their risky behavior. Now Chuckie wants me to do it all over again with a bunch of people who bought more than they can afford. NOT MY PROBLEM, SO DON'T TRY TO MAKE ME PAY FOR IT!
18 posted on 04/11/2007 2:04:01 PM PDT by econjack
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To: stainlessbanner

Anything I might say about Chuckie would probably violate the CoC here.


19 posted on 04/11/2007 2:04:07 PM PDT by Dead Corpse (What would a free man do?)
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To: stainlessbanner

BOHICA. If worker’s jobs are not protected then don’t protect investor’s money.


20 posted on 04/11/2007 2:04:55 PM PDT by ex-snook ("But above all things, truth beareth away the victory.")
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