Moratorium On Bank Foreclosures? 40 States' AGs Say Yes; Obama Says No....Why?

Discussion in 'Economy' started by Madeline, Oct 12, 2010.

  1. Madeline
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  2. Oddball
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    Oddball BANNED Supporting Member

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    Ummm...Could it possibly be all them mortgages held by Fannie/Freddie?

    NAAAAAAAAAAAWWW! :rolleyes:
     
  3. Quantum Windbag
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    Quantum Windbag Gold Member

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  4. Revere
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    The delinquencies aren't in question. It's a matter of the formalities of some paperwork.
     
  5. Madeline
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    I thought Freddie and Fannie were secondary mortgage outlets? In any event, it feels odd to me that in a dispute between the citizenry and Big Business, Obama would side with Big Business. Reminds me of his response to the BP Oil Spill.

    [​IMG]
     
  6. Madeline
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    Is this all about using auto-pens, Quantum Windbag?
     
  7. Oddball
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    Check your premise.

    Little Lord Obammyroy always (and I don't throw universal qualifiers around lightly) sides with big gubmint.
     
  8. Madeline
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    Okie dokie. I still dun follow, Oddball. You think Obama opposes a moratorium because the government would ultimately have the pay the freight?
     
  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Part of it is probably a realization that if an investigation were opened up into what really went on with this banking debacle, right now, it would stifle any sort of recovery.

    At least in the short term.
     
  10. loosecannon
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    loosecannon Senior Member

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    It is much more than that. The Federal government and the fed combined are foreclosing on more homes than any bank. Beyond the alphabet soup agencies the Fed accepted the dirtiest of the mortgage backed securities not only as commercial bank reserves but as part of the bailout.

    Remember all that talk about buying mortgage backed assets back in 2008?

    Fed Assets Increase 2.3% on Buying of MBS, Treasuries (Update1) - Bloomberg
     

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