the talk is that its about helping the homeowners, but in essence isnt it really the mortgage industry that is getting a bail out here?
it is more corporate welfare designed to look like what it isn’t.
Is the foreclosure bail out for the home buyers or for the lenders?
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Both!
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It is assistance to Big Finance Business who have made billions of dollars buying and selling these high-risk loans among themselves.
These subprime mortgages are parts of "packages" and "portfolios" that are bought and sold between credit companies, and it has been a fairly large percentage of their revenue.
Now that the crunch is on, bush is bailing out those SPECULATIVE INVESTORS who made billions of dollars of profit from shuffling papers around.
The homeowners have NOTHING to do with this bailout. It is totally and completely about the FINANCE INDUSTRY.
Look up the exact wording of what bush is proposing – the people who have already lost their homes are SCREWED, the people who are already LATE on their payments are SCREWED, the only people the industry is even willing to talk to are the ones who aren’t even in any trouble yet.
Sound familiar?
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It is so disgusting to see the same mindless people supporting the same "uber-rich benefiting policies" of bush without ever questioning or understanding what the hell is going on.
Disgusting.
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It appears to be for both. More so to stop predatory lending to these people with bad credit.
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Loan holders benefit more. They do not pay more in interest,while the banks lose the added revenue of a higher interest rate.
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Both. It will help the economy and possibly prevent a recession. Libs are mad because Bush is doing something they might have cast blame on him for if he hadn’t.
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It’s for both.
Lenders, to keep from having to foreclose and borrowers, to keep payments affordable.
It’s won’t work for everyone though and there are stipulations to qualify.
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The lenders of course.
The buyers are simply an accidental bonus for bailing out the lenders.
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It is nothing but a bail out for those that cannot & will not accept responsibility for their own actions.
You want a Hummer but can’t afford it – you buy it anyway. You can’t pay for it – what do you do then?
Call a Democrat – they’ll take care of you. They will take the earnings of the hard working person driving a Civic, barely making ends meet, to help you fund your Hummer.
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B-I-N-G-O!!!! You answered your own question. This simply is another government bailout under a ‘conservative’ administration, remember the ‘savings and loan’ bailout a decade ago?
Politics aside, these loans should have never been made. In fact, these lenders were counting that these loans would be in default, so they can foreclose on the property and re-sell.
Problem is, too many were made with very little, if any, government regulation and enforcement, so the market is now swamped with too many over-priced properties. Watch as the industry gets golden parachute and maybe a slap on the wrist.
In the end, you and I as taxpayers will be the ones who are punished.
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it is more corporate welfare designed to look like what it isn’t.
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