There's a woman in my town who can't pay her mortgage. ACORN is coming to her rescue and organizing a sit in and saying she does not have to be evicted. Apparently they think the bank should just eat that loss. If banks can't depend on getting loans paid off, they might stop making loans. Oh wait... that's what was already happening. Let's see... who was behind that the first time? Oh yeah ACORN. The ones who are eligible for a 4 Billion dollar atta-boy from Obama's spendulous package.
Let's make a new welfare program... let's have the government start bailing out people who can't pay their mortgage. Gee now, what effect do you think
that will have on the economy? Well Obama wants to find out.
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Originally Posted by FoxNews
Obama's $275 billion program offers $75 billion in incentives to lenders to lower payments by at-risk homeowners to 31 percent of their income. The other $200 billion would be drawn from money approved by last year's Congress to bolster efforts by federal lenders Fannie Mae and Freddie Mac to offer affordable mortgages and bring stability to the housing market.
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That's right. A new multi-hundred billion dollar bailout package. And no, we don't have that money either.
10-05-08
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Originally Posted by TracyCoxx
Hey, if Obama is elected, do you think he'll tell mortgage companies to stop making bad loans to minorities? LOL fat chance. Then of course, he'll raise taxes on businesses, so all these factors combine into sort of a perfect storm for financial disaster. So this is only the beginning.
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Anyone listening to me yet?