Discussion in 'Economy' started by chanel, Feb 20, 2010.
Government Considers Foreclosure Freeze - FOXBusiness.com
Hardly fair on those who have already lost their homes... and those who continue to pay their mortage. Damn, these people are seriously stupid.
Yes, it's much better to watch people bulldoze their homes or commit suicide when foreclosed and fill neighborhoods up with vacant homes further driving down the property values of those that pay their mortgages and bankrupting the states with loss of property taxes.
Instead of giving $2 Trillion to Goldman Sachs and JP Morgan and other banks, the Fed should have reduced every mortgage in the USA by that amount
So, the government freezes foreclosures..... why are we gonna keep paying mortgages if nothing bad will happen if we don't? So more and more people stop paying, the banks start going belly up.... but they're too big to fail so the government bails them out - again. And around we go again.
It is time that Americans faced up to some very hard realities. We cannot afford for our government to spend its way out of recession, we cannot afford to keep bailing out banks, we cannot afford to keep bailing out the terminally stupid.
We do not have the money.
It sounds more like a program that negotiates between banks and mortgage holders...similar to those programs for people that spend too much on their credit. Doesn't mean the debts won't be paid or that if you can afford to pay your mortgage you'll be accepted into the program.
That decision should be the banks, not the government.
It's the banks fault to a large extent that we are in this mess...and since WE bailed them out, WE have the responsibility to regulate them if need be.
Or we can watch people bulldoze their homes and commit suicide and riot on the street.
Prices freezes worked really well under Nixon, too! Caused a gas shortage, but at least it was cheap!
What price freezes?
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