Posted on 09/15/2010 12:06:18 PM PDT by Qbert
Edited on 09/15/2010 12:07:20 PM PDT by Admin Moderator. [history]
The nation's banks repossessed a record number of homes in August, according to industry sources. RealtyTrac, an online foreclosure sale site, will release its monthly numbers on Thursday, but sources there confirm the number of repossessions will come in just shy of 100,000 for the month.
(Excerpt) Read more at finance.yahoo.com ...
Yet another page of Obamanoid ‘RAT “history”! We’re some “history” making fools!!!!!!
That’ll make for a considerable portion of “home sales.”
Not what was meant by “recovery summer”?
(The banks recovered their homes, donchaknow?)
Recovery Summer??
SO....
If the “banks” are taking the hit on these bad loans (most fueled by political correctness and racism,) and not ultimately John Q. Taxpayer, we can expect to hear of a number of banks going out of business, right?
Right?
No, no, no...
Didn’t you hear? Obama has a bill labeled ‘Small Business Jobs and Credit Act of 2010’, which includes a $30 billion fund to spur lending. Geez, you wouldn’t want them to pass another ‘Bank Bailout’, did you? (Cause that’s just what they just did!)
“If the “banks” are taking the hit on these bad loans (most fueled by political correctness and racism,) and not ultimately John Q. Taxpayer, we can expect to hear of a number of banks going out of business, right?”
Depends on how big (and politically-connected...) the bank is.
Why Canada did not have a Housing Bubble
http://www.freerepublic.com/focus/f-bloggers/2441083/posts
they just need a Dodd and Frank.
“...which includes a $30 billion fund to spur lending...”
####
I talked about this with a banker acquaintance, about 2 years ago. He indicated that his small bank did not want to get anywhere near this government handout, because of the stipulations involved: basically make bad loans to unqualified candidates driven purely by considerations of political correctness.
“Depends on how big (and politically-connected...) the bank is.”
####
Exactly.
Why anyone would invest in Zero’s Its-WHO-You-Know stock market, right now, is beyond me.
No small business (with any sense) wants to leverage up any more now either. That’s what caused this whole mess. The credit bubble has pulled demand from the future.
Voinivich said he heard from a small business owner that was rejected by over 40 banks. (I say it was an SEIU member in a Small Business suit.) That would be a red flag to anbody with any common sense.
Why do you think he was rejected?
As a small business owner, I get contacted practically every day about various credit available for small business. (No, thanks!) The ‘Progressives’ use the idea of lack of credit for cover for their failed policies, IMHO.
“Why Canada did not have a Housing Bubble...”
One of the many reasons why our brew of Obamunism is even more toxic than the socialism you find in many industrialized countries...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.