More Bailouts

[Gaspar]

Before the ink was dry, the baby birds started lining up.  Who will chirp the loudest?

Fanny May is preparing to ask for another $5.1 billion bailout.


Protect men from folly and you fill the world with fools.

[guido911]

I saw that today. I have had it with these damned handouts. Sheesh, I pay my mortgage and other bills on time--now I get to do the same for either deadbeat or dumb home buyers.

[Gaspar]

The tragedy is that if Fanny and Freddy fail, then new home buyers will be forced to qualify for loans.  This will mean that they will have to be able to afford to make payments on the home they choose and they will have to show that they have the ability to exercise fiscal responsibility by saving up for a down payment.

This would force many families to rent until they can afford to buy.

OH THE HORROR!

[swake]

I saw that today. I have had it with these damned handouts. Sheesh, I pay my mortgage and other bills on time--now I get to do the same for either deadbeat or dumb home buyers.

Guido, the effective unemployment rate is 16-20% and the average time someone is unemployed is something like 8 months now. Your accusation that people defaulting on their mortgage are just "dead beats" or "dumb" when you are sitting in the top income bracket is at best thoughtless and crass.

[guido911]

Guido, the effective unemployment rate is 16-20% and the average time someone is unemployed is something like 8 months now. Your accusation that people defaulting on their mortgage are just "dead beats" or "dumb" when you are sitting in the top income bracket is at best thoughtless and crass.

By "dumb", I meant those that had no business ever buying a house. The "deadbeats" slap I agree was over the top. Swake, I pay so much in taxes, and you may as well, I see it going to so many other places and people. In other words, I am seeing no return on my investment in this country.

[nathanm]

Hey, where'd all that lending not backed by Fannie and Freddie go? Seems to be pretty hard to get a nonconforming loan these days..