Comments on: Washington’s recipe for more mortgage defaults

By: Investing Your Money in Government’s Toxic Assets - Savvy or Stupid? « Frugal Café Blog Zone

Thu, 09 Apr 2009 18:13:09 +0000

[...] And, a funnier-than-usual Malkin post (really love the photo!): Barack Obama: Refi pitchman; also, Washington’s recipe for more mortgage defaults [...]

By: Defense Budget Cut » Blue Star Chronicles

Defense Budget Cut » Blue Star Chronicles — Mon, 06 Apr 2009 22:37:11 +0000

[...] as the Defense budget is getting cut, the bailouts are getting more [...]

By: mom2jack

mom2jack — Mon, 06 Apr 2009 21:23:13 +0000

I’d love to know how many Obama voters are letting mortgage payments lapse because they truly believe The One will pay their mortgage, pay their car payment, pay their bills… ugh.

By: A Bounty on Your 401(K) | OpenMarket.org

A Bounty on Your 401(K) | OpenMarket.org — Mon, 06 Apr 2009 18:42:48 +0000

[...] mortgage borrowers are now defaulting by the thousand on their new, taxpayer-subsidized loans, which isn’t surprising, given that many of them ran [...]

By: Laree

Laree — Mon, 06 Apr 2009 18:09:37 +0000

http://youhavetobethistalltogoonthisride.blogspot.com/2009/04/imus-guest-frank-rich-americanstorqued.html

Imus guest this morning, Frank Rich of the New York Times. They discuss Frank’s take on Wall Street vs Detroit Bail Outs, the double standard. There is a romance that surrounds Americans love of their cars however Americans view of Wall Street not so sentimental.

Plus Obama’s trip abroad. Frank brings up the status of the NYTS but doesn’t dwell on it…Imus refers to the Times mortgage being held by Cheech & Chong

By: HotWeaver

HotWeaver — Mon, 06 Apr 2009 17:37:29 +0000

I’ve been in a hole with a shovel. It is obvious that Congress doesn’t know how to carve steps.

By: DesertLover

DesertLover — Mon, 06 Apr 2009 16:46:18 +0000

Speakup …

CRA originated under Carter and was vastly expanded under Clinton where it included not so veiled threats to the banks that they either lend more to those that couldn’t afford it or be brought under intense scrutiny from the IRS and all the congressional committees and such for failing to make enough of those types of loans …

Any efforts to address the problems with Fannie and Freddie during the Bush years was met with opposition from the likes of Barney and Chris and their Clinton retirement package cohorts (Raines and friends) that were running those pseudo-private yet government-supported agencies …

By: sims

sims — Mon, 06 Apr 2009 16:36:45 +0000

at 12:17pm, Speakup said:

A lot of the smoke and mirrors lately is to try and obscure the fact that nothing is being done or will be done to stop them from giving the same lousy loans in the future. Notice they are not reining in Fanny or Freddy but are continuing to bail them out with almost no press coverage. All regulations will be to try and stop firms from profiting from giving lousy loans while at the same time still arm twisting to keep the lousy loans coming.
Our goverment at work in The Twilight Zone.

By: sims

sims — Mon, 06 Apr 2009 16:30:19 +0000

at 12:00pm, pueblo1032 wrote:

Yes, I’m with you on all of that. Plus these companies like AIG that insured the AAA ratings for the lousy loans and the investment firms that bought the lousy B loans packaged as securities and the mortgage companies and banks that gave the lousy loans and then packaged them up and sold them should all have to fail along with the execs who lead them into this.

By: Speakup

Speakup — Mon, 06 Apr 2009 16:17:02 +0000

Has CRA been repealed or even modified? Is there one regulation in place to ward off the exact same economy crashing mortgages for slackers programs that killed our prosperity and has given liberals the opportunity to create a giant Hugo Chavez socialist preserve that shall be called the USSA?

By: pueblo1032

pueblo1032 — Mon, 06 Apr 2009 16:00:29 +0000

Someone said most defaults are due to someone losing a job… BULL FEATHERS!!! How about using your house as a CASH COW, and re-fi @ 125%??? How about buying more house than you could AFFORD, figuring the value would go up when the ARM kicked in??? Or how about buying a house, when you had no BUSINESS buying a house to begin with??? No offense to the great LIB minds out there, but nowhere is it written, anywhere, that you have a RIGHT to own a HOME… Now as soon as the BRAIN SURGEONS in DC figure out if they just GET THE HELL OUT OF THE WAY, this “PROBLEM” will sort itself out in 12-18 months… It will not even start until they GET OUT OF THE WAY!!!

By: birdlady79

birdlady79 — Mon, 06 Apr 2009 15:30:49 +0000

From what I hear out and about – noone will help a homeowner unless or until they are three months behind on their mortgage payments. That would include credit counseling services and mortgage companies. hmmm….wonder where that “rule” originated?

By: cheapseat

cheapseat — Mon, 06 Apr 2009 15:18:02 +0000

gee lgm; are you ever planning on having this president be responsible for his actions and the consequences thereof? so 9/11 was clinton’s fault, with the help of that gore crybaby taking up months of bush’s cabinet building time, right? the nasdaq collapse and the stock market drop of 2001 and the SOUND, PROVEN economic policies of bush brought us out of that in how long? while the communist central planning policies of the obama admin still have unemployment going up, confidence going down, the world seeking to pillary the u.s., and our president winning praise from chavez and achmadinejad. but didn’t shaka toots look great in europe?

By: The TIW Blog » Blog Archive » FAILING: Obama regime NOT solving housing crisis

Mon, 06 Apr 2009 15:07:57 +0000

[...] Read about it HERE. addthis_url = ‘http%3A%2F%2Fword.truthintheword.org%2Farchives%2F2971′; addthis_title = ‘FAILING%3A+Obama+regime+NOT+solving+housing+crisis’; addthis_pub = ”; [...]

By: MarcoPolo

MarcoPolo — Mon, 06 Apr 2009 14:55:03 +0000

On April 6th, 2009 at 10:09 am, lgm said:

Most defaults are the result of someone losing a job.

What’s your source on that?