Do the Republicans believe in free markets, individual responsibility, and keeping the government out of private business? It's been obvious for a long time that this housing/mortgage mess was coming. The time was coming when the wastrels would have to pay the piper. But no, our dimwit in chief will bail them out. We taxpayers can pick up the tab. The responsible folks can just suck it up. I guess Bush knows he only has a very limited time in office and is trying his best to come up with new ways to fuck things up. Gotta work on that legacy thing.
Yes, very interesting politcal move. Our current President saving the poor people who got taken advantage of by those big mean banks, LOL. Sounds almost like a socialist move IMO. However, when thinking it through, this move may just be to save the banks, mortgage companies, and the off-shore hedge funds buried in fixed income paper. I would like to know what the smart people think. c
Here's one smart persons take: "Fortunately, George didn't suggest raising the FHA home price bar! He's an idiot, bailing out the poorest people, who in fact should be renting. But it won't be the poorest people. The ones who will take advantage of this are those in the Red States where the prices are low. In those areas, where mansions are around $350 - $400, the shrewd will be asking for FHA rescues. This always happens. The program offer here is really Christian, but because the decider is incapable, honestly, of thinking, the offer will be accepted by the middle class and the upper class who happen to live in houses at or under the FHA price guideline. " http://globaleconomicanalysis.blogspot.com/ Helping the red states? Hmmm... maybe he's shrewder than we think.