Here goes Obama playing dicator and regulating banks again.

[Mr.Nick]

Typical democrat threatening with executive order.

His agenda stalled, Obama uses executive power -- and bully pulpit - chicagotribune.com

Declaring that he won't wait any longer for Congress to act, President Obama said Monday he would use his executive power to help struggling homeowners refinance their loans and take advantage of historically low interest rates.

Free homes for everyone....

It's almost like he's literally retarded or has no understanding of economics what so ever.

That or hes a blatant socialist and that is more likely considering his economic moves.

 

[Mr.Nick]

So what the fuck is the use of the bank now??

Oh right it's socialism - you borrow 30k and you only have to pay them back 30k because they're there to help you..........

Nice capitalist model we have here...

Of course the bank is owned by the state and they just give you free money and if you choose to pay it back that is your option and there will be no consequences for those actions. Kinda like a "pay what you want" type gig...

What a bunch of useless fucks progressives are...

Now their little messiah will just override democracy because he's a fucking dictator...

Of course they have no problem with this...

 

[editec]

I doubt this policy will have much effect.

Even with the new rules, only borrowers with mortgages taken on by Fannie and Freddie on or before May 31, 2009, can qualify. Their loan amounts must top 80% of the current market value of their homes. And they must be current on their payments, with no late payment in the last six months and no more than one late payment in the last 12 months.

That means the program provides no help for the 3.5 million or so homeowners who are seriously delinquent on their loans or in default.