can someone put this in a clear way for me here
they are being taken over, yes
now where are we getting the money from and does this mean it will now be easier for those who messed up to go out and get another loan/
I tried watching Barney franks on cavuto and I might as well listened to a gibbering monkey as he made no sense and that is what I did understand
Who’s decision is this to bail them out?
The reason I ask is because I am no expert on this all I know is that I have a small house and I paid it off because I knew I could pay my small house off unlike buying a bigger house I couldn’t pay for
so I see no reason why I should help those who want to impress the next door neighbour or their family with a big house?
Any help would be helpful and appreciated please
“so I see no reason why I should help those who want to impress the next door neighbour or their family with a big house?”
It is much more than that. Much more. To make this a class envy/warfare issue is simply failing to understand the problem.
This is more for the banks than for irresponsible homeowners. Without this action, the entire banking system would collapse. Our politicians wanted to make it easier for people to get loans, and the result was that banks and lenders were allowed to, and in some instances forced to, give risky loans. Just be happy that you are responsible.