Gross: Bush needs to rescue homeowners

[392cobra]

Art,
That was before a lot of people lost their good sense.Maybe with all this happening,some will regain it.
Kind of like the "Tech Bubble".

[4RE KLR]

yes mortgage brokers are paid commissions. That is why they want you to refi every year.

[Excaliber]

I thought a 'fixed' mortgage was 'fixed' for the life of the loan? Mine is...

[HI Cobra]

Ernie - that's my understanding of a "fixed" rate loan too, has been so far
anyway. Those with the varible interest rate loans are the ones wading in
deep kim chee now which will keep getting deeper in the future for now.
Scarey thought to enter into one of those with historically low interest rates
which can essentually only go up but a lot of people went for it. I'm still
getting a lot of spam to reinvest my 4 7/8% fixed for a 5 yr low interest
only, loan. I can just just see us 5 years down the road in a Jimmy Carter
type situation with 18% to 20% loan rates. Yikes. (Hope that doesn't happen again!). When this loan is pau I'm done with loans.

[4RE KLR]

I do not think "W" will rescue anyone unless he can benift from it.

Sad but true...

[J. T. Toad]

http://www.lewrockwell.com/dilorenzo/dilorenzo125.html

[Wes Tausend]

Originally Posted by J. T. Toad

http://www.lewrockwell.com/dilorenzo/dilorenzo125.html

Thanks J.T.

Well that would make sense that something weird like this is at play. On the other hand, the author (Thomas J. DiLorenzo) of "The Government-Created Subprime Mortgage Meltdown" come across as a pretty far out guy even for a Libertarian. Check out his book link to "Lincoln Unmasked: What You're Not Supposed to Know About Dishonest Abe".

I'm getting kind of sick of both the major political parties in this country. But other levelheaded candidate pickin's are pretty slim. It seems like nobody's taking care of the middleclass anymore, at any rate.

It's still my assertion that the working middleclass will bear the burden for all this in the end. We always do.

Nobody else actually generates GNP or any real wealth to pay for whoever is left holding the bag of money here. And when one segment loses, there is always a bag... of where the money went somewhere.

Hard to follow sometimes, but nobody makes a true profit without somebody elses loss. In a way, all modern investment schemes appear to be pyramid schemes. Profit begets profit until the whole thing falls like a game of musical chairs.

I know this probably doesn't make sense to anybody, but I feel better having said it if nothing else.


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