Re: Write this day down: I support Bush on this issue

On Aug 31, 10:18?am, C The Shocker <pdxch...@xxxxxxxxxxx> wrote:
http://news.yahoo.com/s/ap/20070831/ap_on_go_pr_wh/bush_housing_slump

WASHINGTON - Offering federal aid for strapped mortgage holders, the
White House outlined proposals Friday to help borrowers hard hit by
credit problems and the housing slump.

The initiatives, to be formally unveiled by President Bush, were
intended to help homeowners with risky mortgages keep their homes.
Bush also was to discuss efforts to prevent these kinds of problems
from arising in the future.


First thought on this - they are offering this for "strapped" mortgage
holders. There will undoubtedly be a condition including
creditworthiness attached. This will completely negate any "help" the
government might offer. It is just hot air from a lame duck president
who has no power or leverage to put anything in place.

Second thought on this - remember the S&L failures? They loaned out
too much money and made bad investments; resulting in the entire S&L
industry going under. Now we will get to watch it happen to the
banks. Can you say "Great Depression" or "Regan-omics"?

**Diva**


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