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Is anything being done to plug the holes in the bucket we are pouring our tax dollars into??? No. |
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Posted on 10/10/2008 3:45:52 PM PDT by Conservative_Rob
I can't believe it! After all we have been through and all we know about what caused the housing bubble, I'm still getting invites to get a subprime loan. Before you click on the link, know in advance that it is a commercial mortage web site that is advertising that now that it has some new bailout money (from the $300 billion mortage bailout bill passed earlier in the summer) it can rev up and offer you new interest only mortages. I thought that this was going to be cut off before any of our hard earned tax dollars would be spent on buying up these junk mortgages!! I knew it when they passed that "crap sandwich" of a bill that it would only serve to pump good money after bad. Nothing has been done to stop these so-called "predatory" practices, so we'll just have to pony up billions more in the coming months to buy these new junk mortgages.
last I looked, Fannie Mae and Freddie Mac were still open for business. That tells you all you need to know.
The leftists and their Dem enablers are laughing at all the rest of us. Us fools who are going to reward the guilty and punish the innocent Nov. 4. By which I mean the stupid US electorate.
God, gold and guns. All you can count on anymore. And I’m not so sure about gold.
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Is anything being done to plug the holes in the bucket we are pouring our tax dollars into??? No. |
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It truly is a form of mass insanity.
Of course you can still get sub-prime loans! The CRA is still on the books, meaning that if I, Mr. Bank want to lend money to 7 great candidates I have to lend to 3 sub-prime people.
Until that law is repealed you will ALWAYS have sub-prime mortgages. Because the alternative to not giving sub-primes is to not give ANY mortgages.
There sure aren’t selling these mortgages to any foreign firms . . . hmm, so where are they getting the money??? WE AREN’T STOPPING THE SUB PRIME LOANS - now they are directly being underwritten by us? I guess this is gov’t housing - a Cabrini Green in every neighborhood!!
I have to go out and get myself one of these subprimes and buy me a McMansion and then default on it so that I can qualify for McCain’s buyback of bad mortgages.
My son and I were laughing (not really) at an ad on a website last night. In essence it said,
Congress has approved a mortgage bailout bill! Act now to get your 250000 mortgage for only 697 a month! or some such number.
Of course they are still being pushed. The crooks just got rewarded for doing it an nothing to change the system that allows them to do it.
This has all the earmarks of a scam.
Send in your $200 application fee. When they have collected enough money, and when people start looking for them, they will take the fees, disappear, and open up in another city under another name.
They still can do it because the Bailout bill avoided doing anything about it. On purpose.
It was obvious so Obama, Pelosi, the gang immediately and publicly claimed Don’t worry, we’ll take care of it soon.
Obama was big on that for a few days.
No one has even suggested that we stop the nonsense. Quite the contrary, Congress has just given the green light to continue it via the bailout. All wealth will be systematicly transferred from the middle class to the poor to right the "wrongs" of the past 200+ years.
I have never seen a public problem with sub-prime. Except one thing. The government. Only two types of people can against your will take your money, a guy with a gun, and the government.
Sub-prime would only be a problem between the borrowers, and the lenders and anyone that bought anything to do with it.
But of course the government got in it and now we are chained together. They sink, and pull us down. This was the plan. Of the Democrats. They are after all, socialist.
Well, now we will be chained to the financial firms, and the banks.
My favorite picture, Volga Boatmen. They remind me of all the taxpayers pulling the boat, which would be the government, up stream. So, you can immagine yourself in the pulling crew. And after you die, your sons and daughters, and their kids. 
So she needs the billion right now. Don't ask questions. We're in a hurry here and besides are you the kind of person who WANTS CHILDREN AND GRANDMOTHERS TO STARVE TO DEATH?
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