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Another mortgage bailout or another bank bailout?

Posted by mrskjun 9 (My Page) on
Fri, Feb 10, 12 at 7:07

"2. That $26 billion is actually $5 billion of bank money and the rest is your money. The mortgage principal writedowns are guaranteed to come almost entirely from securitized loans, which means from investors, which in turn means taxpayers via Fannie and Freddie, pension funds, insurers, and 401 (k)s. Refis of performing loans also reduce income to those very same investors."

How well have mortgage bailouts worked in the past? How much are the American people supposed to be on the hook for this yet again?

Here is a link that might be useful: link


Follow-Up Postings:

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RE: Another mortgage bailout or another bank bailout?

Just a sop to see if it will still the howling homeowners who got screwed, to put it bluntly...


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RE: Another mortgage bailout or another bank bailout?

The last mortgage bailout failed because the Tea Party outcry against helping people struggling with loans gave cover for the banks to sit on their funds and collect interest and foreclose on homeowners.


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RE: Another mortgage bailout or another bank bailout?

or could be

ObamaHAMP has been a failure by any measure. Of the $29.8 billion earmarked for the mortgage modification program, only $840 million � less than 3% � has been paid-out after two years (Note 7). Of the approximately 4-5 million homeowners in serious distress � those whose mortgages are nine or more months delinquent or who are already in foreclosure � only 549,000 have received mortgage modifications. These are the people whose situation was most urgent. After two years, only 12% of them have gained relief from the program (Note 8).

It gets worse. Another 792,000 financially distressed homeowners were accepted into the ObamaHAMP program but were later kicked out. In these sad cases, the homeowner was either ultimately disqualified, received a modification but defaulted anyway, abandoned their property, or declared bankruptcy (Note 8).

Here is a link that might be useful: link


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RE: Another mortgage bailout or another bank bailout?

Mrskjun, what you are reporting on your Tea Bagger website are the details of how the banks screwed over home owners AND then the blame was placed on Obama. A nifty trick that has been the standard play for the Republicans for 3 years. Basically do all you can to screw up the president's plans to help the economy and then blame him for the screw up. People like you clueless eat this stuff up.


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RE: Another mortgage bailout or another bank bailout?

Oh goodness, I knew I should use one of those middle of the road websites lol.

Here is a link that might be useful: link


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RE: Another mortgage bailout or another bank bailout?

Of course some don't want to hear that President Obama loves the Wall Street guys...

President Obama may call bankers "fat cats" and stir the rabble against them with populist rhetoric when it serves his interest, but after the fiscal fiasco, he allowed the culprits to escape virtually scot-free. When he�s in New York he dines with them frequently and eagerly accepts their big contributions. Like his predecessors, his administration also has provided them with billions of taxpayer dollars � low-cost money that they used for high-yielding investments to make big profits. The largest banks are bigger than they were when he took office and earned more in the first two-and-a-half years of his term than they did during the entire eight years of the Bush administration. Salon.

Keep looking back at the Bush years and ignore the present so you can be fooled again.


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RE: Another mortgage bailout or another bank bailout?

The bailout of the Banks was Bush. If you remember during the campaign. McCain rushed to DC when the banks came running saying that they were going to fail.

-John Boehner Republican Speaker of the house(not the Speaker at the time) was doing his usual dripping his crocodile tears that everyone should vote for the bailout.
-Bush&Co gave the banks the money with no conditions.

Now that President Obama is in office the Republicans would like to say that it is President Obama's policy when in fact it was Bush&Co.

If the bank bailout had been given with conditions we would not be in trouble now.

If you do some research other than reading only the Republican talking points you would understand how the Bailouts began and the results are very clear of how badly the Bailout was handled.

Fast forward to 3 years later President Obama is still trying to clean up the disaster that Bush&Co created in 8 years. I realize that the Republicans have so much respect having a intelligent President finally but he is not a miracle worker. Fix a 8 year disaster could not be and cannot be fixed in 3 years.

It would have been nice if when the Republican left office he had done as well as a Democrat Bill Clinton. President Obama was given Lemons and he is attempting to make Lemonade.

Bush was given Lemonade and he made dead rats. (Rats = American Public Tax Payers)

I have to ask you mrskjun do you know what Deficit and Surplus mean? If you do not you will not understand the facts. But I will try....

Facts...
BUSH 8 YEARS.....
Bush came into the office ran by a Democrat there was a four trillion dollar SURPLUS
Unemployment was 4%

PRESIDENT OBAMA TAKES OFFICE WITH....
-When Bush left he had spent all the surplus plus added debt so he gave President Obama BIG, BIG BIG BIG BIG DEFICIT!!!!!
President Obama inherited a $1.2 trillion in deficit before Obama took office, based entirely on Bush's actions.

-Unemployment over 8%

So you tell me who is the problem here????


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RE: Another mortgage bailout or another bank bailout?

umm marquest, sorry, you can blame Bush for a lot, but not all of it.

Here is a link that might be useful: link


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RE: Another mortgage bailout or another bank bailout?

Read the article, oh blind one. :)

Here is a link that might be useful: Obama Loves Wall Street


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RE: Another mortgage bailout or another bank bailout?

In a recent interview GW Bush admitted that he had pushed the economy off a cliff, he said in his defense that he had good intelligence that there was a Wonderfully Deep Mattress (WDM) at the bottom but that anyway he would be long gone before it hit bottom so who cares.


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hmmmmRE: Another mortgage bailout or another bank bailout?

I don't know ink, but I seem to recollect that someone said that if they didn't have it fixed within three years they didn't deserve a second term. Or did I just imagine that?


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RE: Another mortgage bailout or another bank bailout?

You can post all the links you like. The beginning figures are what they are. Believe what you like. There is no denying there was a Surplus when Bush&Co took office and there was a Big Deficit when Bush&Co 8 years ended. Bush did the Bank Bailout. Facts.

I am a Liberal but not blind. To be a politician as the rules are set now if you are a Liberal or a Conservative you have to play the same game for money support. But it is what you do with that support. If you run the country in the ground like Bush did using that political support is not the direction the country needed to go.

It is a money game to get elected. When they get money out of politics it will change. That is another subject. But it goes back to the more money you get the more you can brainwash the ones that do not have a brain to read. They let negative ads, Faux News, and Rush tell them what to think.


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RE: Another mortgage bailout or another bank bailout?

Absolutely marquest, the debt started with Bush, and since that time we've had Obama which has been Bush on steroids. Look what he has been able to do with the debt in just three years. I may be a fiscal conservative, but brainwashed I'm not. I just don't blindly follow. I think Bush was a lousy president. I think the same of Obama.


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RE: Another mortgage bailout or another bank bailout?

I think you should take that three year promise idea out for an airing occasionally just to check if there are any moth holes in it.


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RE: Another mortgage bailout or another bank bailout?

marquest,

At lease you're smart enough to know that the president is bought.


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RE: Another mortgage bailout or another bank bailout?

  • Posted by vgkg 7-Va Tidewater (My Page) on
    Fri, Feb 10, 12 at 16:04

Obama is Bush on steroids? Nah, no matter how much steroids Bush may inject he'll never become Obama....in fact, since Bush has hasn't been seen around for a while the clues lead to his recent hulking up into Rick Perry.


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