700 Billion?? To who??

[bomelia]

I heard the dems wanna use the same money for the people at the bottom. That sucks too. In any event, we all get screwed.

Just think! $20,000 per tax paying houshold. And that is prolly on the low end. Screw them.

Mike

I hope everone is sending emails to their reps.

[Ronbo]

It's funny when people talk of "regulating" Fannie and Freddy when that's exactly what these organisations were.

Worked real well didn't it?

I also haven't heard how this bail-out is going to get people back in their houses they lost...

[392cobra]

Originally Posted by Ronbo

I also haven't heard how this bail-out is going to get people back in their houses they lost...

They 'lost' them because they couldn't pay for them.

They are the root cause of this mess. The 5% of homeowners that were/are being foreclosed on because they were/are defaulting.

What ? The 95% that have/are paying in full and on time should give them a 'free' house to replace the one they 'lost' ?

[bomelia]

Root cause? I would say the root cause would be regulations (relaxed) that allowed people to get these houses. American Dream for all! Now its an American Nightmare. Used to be you had to have 20% down. No ifs, ands, or buts. It showed you new how to manage your money. Now, no downpayment and waived PMI. 110% home equity loans. No questions asked. Credit cards out the yazoo.

Its hard to get into this kind of trouble when regulations make it difficult to do so. Remove the barriers, and this is what happens.

Mike

[Ronbo]

Except 392, that a lot of these people lost jobs. It's easy to call them dirt bags because they didn't have 6mos. of mortgage payments in the bank like 90% of americans just like them...

Not to mention you wake up one day and your -$100k in equity on your home.

I'd walk away for that sh!t too...

Sorry but I'm not intrested in covering these scam artists risky investment loses. These are the same idiots that got bailed out when they thought they could make all that money off the Central American banks.