Although niether should be bailed-out...
2007-12-01 04:39:17 · 4 answers · asked by Chi Guy 5 in Politics & Government ➔ Politics
Mdlibs (below) Many neo-cons have stated that we are currently in a "booming economy".
2007-12-01 04:44:42 · update #1
The mortgage mess is how I read the news reports. One I found interesting is the CEO of Citi Corp was Treasury Secretary under Clinton. Now the Saudi's are in the process of a buy out.
Cash.
More threatening is foreign interest take overs. If the US can float the boat than we must in my opinion. Revolvong credit, outrages arm loans and risky applicants? Corporations are losing their shorts. Balloon package and bail outs of officers abounds. There is a big part of the problem. When will the US government investigate more of them. Like Enron? And they had many Presidential ties... special interests, lobbyist money... ALWAYS follow the money, not the poor unfortunate about to become homeless. Perhaps the rescue ring more importantly is for them.
Thank you.
2007-12-01 05:46:48 · answer #1 · answered by Mele Kai 6 · 0⤊ 0⤋
Many of the people facing foreclosure don't have enough sense to contact their mortgage lender to see if anything can be worked out to save their homes. It isn't in anyone's best interest to have all these foreclosures except for those who buy up these homes at very low prices and resell them. Even these people will face holding on to their investment for some time before it will sell. The tax payer may inevitably be the loser in this situation because these loans are backed by the fed.
2007-12-01 05:00:37 · answer #2 · answered by BekindtoAnimals22 7 · 0⤊ 0⤋
It is to protect the assumed lower profit that Lenders will make.
Not the home owner; but the Banks Profit Margin is being bolstered.
2007-12-01 05:09:15 · answer #3 · answered by whirling W dervish 2 · 0⤊ 0⤋
What "booming economy?"
I know it is not your quote.
2007-12-01 04:41:48 · answer #4 · answered by MadLibs 6 · 0⤊ 0⤋