new 75 billion mortgage bailout

[maui1]

obama is spending another 75 billion on bailing out homeowners that are underwater, with money we don't have.

seems ironic at best................

our gov't is based on debt and will die as the result of debt.

is there any wonder why the people of america are so bad with money? our gov't leads the way to insolvency and we follow as if we are mindless.

[The Virginian]

You are so right Maui1 - but afraid you are preaching to the choir here

Thanks for joining - looking forward to hearing your comments!

[maui1]

preaching to the choir here
i agree.....we (the american people) are a "choir"........someone points a finger at us, and we respond as we are told to respond.

[maui1]

when gov'ts don't heed the voice of the people......you end up with Egypt

[maui1]

picking winners and losers, is bad enough, without picking losers as winners

[vl]

Well... if we could get the Party of NO out of Congress and concentrate on REAL solutions like not trying to repeal the Healthcare Reform Act over and over and over and over because those who slip you campaign cash insist on it... maybe we could get down to a REAL STRATEGY.
You realize that the ONLY THING accomplished so far was to add another layer of confusion on the chain of title snafu. Basically, we never needed to bail out ANY bank or implement ANY foreclosure action. The mortgages booked were done by crooks and so- had no fundamental basis for performance. That's like creating securities that aren't-- secure. Oh wait, BANKS did that too!
Refinancing ALL mortgages to a set fixed rate and fixed term benchmark criteria and transitioning what exceeds the debt ratio or borrower's Ability to Pay- to a second lien that MUST settle through contiguous refinances--- reconciles the housing market and associated finance. It gives us a foundation for recovery AND validity to asset values.

The longer they wait, the longer it will take to organize. BANKS are dead. So is the Fed.

[maui1]

i don't like making arguments based on party.....both parties stink and short term limits is the only way to fix our political system.

gov't should not be involved in picking winners and losers, period!

we will have some issues weening ourselves off of the the gov't tit, but in the long run, our country and our economy will be better off.

[sangria]

At all events, our goal as individual investors hasn't changed. Focus on making as much money as you can.

[maui1]

dollar bills will soon go the way of the penny.........why bother even picking them up?

right now, those dollar bills would look better spilling out of a g-string, than from under the above mattress.