No you don’t. Perhaps instead of being a screamingly stupid moron, you might bother to find out what is actually going on.
You are obviously not a victim so you must pay!
Vote Democrat then you will be forced to pay for their health care too.
We're always confronted with the 'lesser of two evils.' This will become painfully clear when we look at a ballot with Hillary on the left and Rudy (supposedly) on the right.
What a country! (/yakov smirnov)
Bush and the Fed just protecting the big money interests.
I just realized that subprime does not refer to the prime rate. It refers to a borrower’s bad credit rating:
Definition:
Subprime refers to a borrower that is not ‘prime’. These are borrowers who might be less likely to repay a loan. Subprime borrowers may be classified as subprime because of:
Bad credit or lack of history
Low income or poor debt to income ratios
Large loans relative to the securing property (high LTV ratio)
Maxed out credit cards
Referring to somebody as subprime is similar to saying they have “less than perfect credit”.
“It’s not the government’s job to bail out speculators or those who made the decision to buy a home they knew they could never afford,” Bush said in the Rose Garden. “Yet there are many American homeowners who could get through this difficult time with a little flexibility from their lenders or a little help from their government.”
But of course, at least then the screaming moron crowd on the wacko fringe Right could then pat themselves on the back for how doctrinally pure they all are.
The President did the best he could with a losing PR hand. He made the minimum changes he could to shore up confidence in the markets without going for an out and out bail out. He also left the burden on the people who took the loans. They have to refinance, their houses are NOT being paid off. He is giving them a helping hand, not a handout. To Do Nothing would of been politically catastrophic for Republicans in 2008
Politics is a game of percentages. You are never going to get ONLY 100% of ONLY what YOU personally want. Learn to live with it.
Read post 19
What has happened? Did a new law get passed today?
How are you bailing them out?
Someone has to pay for those illegals getting home loans, then refinancing or getting home equity loans, and rushing back home to Mexico, leaving the mortgage companies holding the proverbial bag.
Guess who got tagged? The good ole American taxpayers.
What is a Piggyback Loan? A piggyback loan is a combination of two loans that close at the same time to purchase a home. The most common piggyback loan is an 80/10/10.
80 percent of the home’s value is financed through a first mortgage. The remaining 20 percent is equally divided between a second, piggyback loan and the down payment.
Or an 80/20, where the buyers have no down payment, and no personal mortgage insurance, or even better, an 80/20+20: buyers not only put nothing down, but take a home equity loan (on non-existent equity) for an additional 20%—`walking around’ money, I suppose.
‘Creative Financing 101 for Sub-prime Borrowers’
(And of course there’s always Chapter 13 bankruptcy.)
There are a couple of reasons the government has in interest in keeping the mortgage industry from melting down.
The first is that a complete melt-down of the real estate industry would probably put us in a deep recession and possibly a depression. The damage to the economy would be more painful that the tax hit.
The second, it is the government that got us into the mess. Granted the lending industry as a whole was making loans that don’t make alot of sense but we live in a capitalistic society and the federal banking policies made it very profitable to make and flip loans which were covered with cheap and easy funds coming out of the fed. The government did not restrict this activity which is okay but they dried up the cheap money from the fed. Suddenly the lending industry ran into a cash crunch and couldn’t meet their obligations. On one hand, it’s easy to say too bad for them but those organizations are vital to our economy on multiple levels. Their faltering not only affects the real estate market, furthering the melt down we are seeing now, but has far reaching affects including undermining our already weak dollar.
If the problem was not fundamentally caused by the government and so potentially damaging to every American, I would say just walk away. But this is huge, and could hurt every American from rich to poor.
Haven’t understood the actions of this man for a long time now.
Haven’t understood the actions of this man for a long time now.