Let us be clear about this whole situation with the new Obama mortgage bailout.
1. He proposes it the day after spending (with interest) over $1.2 TRILLION. The thinking being that no one is going to care a lick about $75 Billion after what he just did.
2. It rewards people who got loans that.....
a. they had no means(and perhaps intentions) of paying back
b. the banks were FORCED by the government to give
c. caused the mortgage crisis
3. It does NOT help those of us who qualified for loans legitimately, paid those loans religiously and have watched the value of our homes dwindle due to the crisis caused by the aforementioned loans.
A short summary of the sub-prime meltdown:
Jimmy Carter starts a problem, Bill Clinton exacerbates the problem, Barney Frank and Chris Dodd ignore and deny the problem and then Obama blames the banks for giving these people the loans that HIS PARTY FORCED THEM TO GIVE.
Have I missed something?
Anyone got a spare pitchfork?
1. He proposes it the day after spending (with interest) over $1.2 TRILLION. The thinking being that no one is going to care a lick about $75 Billion after what he just did.
2. It rewards people who got loans that.....
a. they had no means(and perhaps intentions) of paying back
b. the banks were FORCED by the government to give
c. caused the mortgage crisis
3. It does NOT help those of us who qualified for loans legitimately, paid those loans religiously and have watched the value of our homes dwindle due to the crisis caused by the aforementioned loans.
A short summary of the sub-prime meltdown:
Jimmy Carter starts a problem, Bill Clinton exacerbates the problem, Barney Frank and Chris Dodd ignore and deny the problem and then Obama blames the banks for giving these people the loans that HIS PARTY FORCED THEM TO GIVE.
Have I missed something?
Anyone got a spare pitchfork?
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