Mother of all bailouts granted by Congress
- added July 24, 2008
- 3 responses
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- onepersonsopinion
- added this
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House approves bill that:
- writes blank check to bailout mortgage industry
- increases Federal budget by $800B
- requires all mortgage brokers be finger printed
- all credit card transactions to be reported to IRS
The long-con is coming to fruition as the Fed sets it self up to own all the foreclosures, only to auction this foreclosed real estate off as a package to the biggest mortgage company, who will be the only ones who can afford the large bids. It's a replay of what happened in the 1980's when HUD did the same thing.
Unfortunately, this time the American public is going to get stuck with hundreds of billions of dollars in bills, an increased national debt, and a vastly depreciated US Dollar. What a racket if you can get-in on the upside.
- writes blank check to bailout mortgage industry
- increases Federal budget by $800B
- requires all mortgage brokers be finger printed
- all credit card transactions to be reported to IRS
The long-con is coming to fruition as the Fed sets it self up to own all the foreclosures, only to auction this foreclosed real estate off as a package to the biggest mortgage company, who will be the only ones who can afford the large bids. It's a replay of what happened in the 1980's when HUD did the same thing.
Unfortunately, this time the American public is going to get stuck with hundreds of billions of dollars in bills, an increased national debt, and a vastly depreciated US Dollar. What a racket if you can get-in on the upside.
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- onepersonsopinion
- 2 months ago
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Is this really a fix for our economic problems?? I say let the economy fall and rebuild itself. We are only prolonging the inevitable by increasing our inflation.
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- regjoeschmo
- 1 month ago
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Bob Barr weighs in on this as well...
http://digg.com/2008_us_elections/Bob_Barr_Freddie_Mac_...
http://campaign.blog.bobbarr2008.com/2008/07/25/your-sh...
He's got my vote!-
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- shortbusgeek
- 1 month ago
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Realtors peddle real estate to bike-happy clients
The Associated Press -
(AP) — With gas prices high, bicycles flying out of stores and a buyers' market for houses, a handful of real estate agents around the country are touting ...
See all stories on this topic
http://googlerealestate.blogspot.com/
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