It seems fairly foolish to boot out renters who are paying their rent.
Forrest Gump Explains The Mortgage Mess
The best explanation yet...
Mortgage Backed Securities are like boxes of chocolates.
Criminals on Wall Street stole a few chocolates from the boxes and replaced them with turds. Their criminal buddies at Standard & Poor rated these boxes AAA Investment Grade chocolates. These boxes were then sold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. Suddenly nobody trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals who stole all the good chocolates are not being investigated, arrested, or indicted.
Mama always said: ‘Sniff the chocolates first, Forrest’.
The bailout, a different perspective
Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country to a pack of nit-wits who couldn’t make money running a whorehouse and selling booze?
This is fine if they pay it to the lender, make somewhat of a homestead type action.
Socialism is here and it can’t all be blamed on 0bama.
0bama isn’t a socialist anyway, he’s a communist.
Wait and see, a lot of these proposals will end up being stealth reparations under another name.
That's a pretty cheap rent price for a HOUSE in New Haven, CT. I like this idea, but this home renter needs to pay the going rate
If these renters manage to pay rent for six months, Fannie Mae will just come to them and say ‘Hey, how would you like to BUY the property you’re living in now at the rent you’re paying?’ and they will probably get a lot of takers.
The GSEs have at one time owned 85% of the mortgages in the country. Do you want them as the national landlord?