Is George W Bush a genius for coming up with the mortgage rate freeze? Or is this a dumb move by Bush?
2007-12-06 12:24:38 · 9 answers · asked by Anonymous in Politics & Government ➔ Elections
does not seem like it will do much for the home buyer, but will help the banks alot....
There could be some kind of mormatorium so that banks cannot forclose on a home for a period of time. The banks do not use money at all in the morgaging a home, they just make interest off the home price. So if I bought a home on a 30 year loan, I would end up paying almost 3 time the home's original price.
so a freeze would lock people in who might be elegable for a refinance at a lower rate, so they end up loosing their hime anyway. It feeds the banks but not the people. Sounds good on TV but is no help at all.
2007-12-06 13:29:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I think it is very appropriate, though I doubt it has anything to do with Bush. Truth be told, I believe any President, regardless of party affilitiation, would have made this decision. With the election year approaching, I doubt we will hear a lot of objections about it...some may state he is trying to help the Republicans by artificially proping up the economy, and that may be true...but no one will ask for the change in policy he has instated. The reality is, I think that the US is looking at a major overhaul in the mortgage industry. It has been operating in a predatory fashion for about 15 years now, and it needs to be revamped. I work in the Securities Industry, and I won't go into detail about what happened and why....but it sickens me to the core.
2007-12-06 12:30:16 · answer #2 · answered by Kiker 5 · 1⤊ 0⤋
Kiker is right, how many would be in the streets this Christmas and in the cold. It's like the credit card companies make a deal with you then send a "notice" and raise the rate.
Gee, you would think that the people we elected would watch out for us, but if you check out the lobbyist money you can follow the trail. It is insane and must stop. I am tired of a bunch of fruitcakdes that don't want to work and now they are only going to work 4 days a week, so hang on it gets slower and fworse. Take care.
2007-12-06 12:37:47 · answer #3 · answered by R J 7 · 0⤊ 0⤋
Bad move by Bush. Why bail out the banks for? The homeowner won't benefit because they are paying for a house that's worth less than market value.
Not only that, rate will go up later. It will only help the banks cut their some of their losses.
2007-12-06 12:33:23 · answer #4 · answered by \\\Jack Beanstalk 2 · 1⤊ 0⤋
What in case you mom and pa had had a baby who had an IQ over 40 5? Bush began 2 wars, what 2 wars. a minimum of in assessment to you gutless gay brits who kissed Hitler's bum it did no longer finally end up a international conflict killing over 50 million people. i will refrain from the way you brittards began WW1.
2016-10-19 11:24:46 · answer #5 · answered by holtzer 4 · 0⤊ 0⤋
Let me see.
"progressive, smart, with approving rate below 10%' Senate with democrat majority can not do anything to brake him' - he must be a genius!
Oops. Senate did manage push thru more money for themself and 4 day work week
2007-12-06 13:14:59 · answer #6 · answered by Obama Happends 5 · 0⤊ 0⤋
If his goal was to become the most powerful president in American history, with the right to do essentailly whatever he wants and violate the constitution in any way he sees fit, he's most definitely done a masterful job.
2007-12-06 12:49:25 · answer #7 · answered by Gary W 4 · 0⤊ 0⤋
HHHAHAAAAAAAAAA funny question really..
I doubt it..and either are the people telling him whatt o do and say. Every move he has made was a DUMB one and he is the worst president yet.
2007-12-06 12:46:26 · answer #8 · answered by MiMi ♥ 4 · 1⤊ 0⤋
no matter what choices he has made hes an all the way around idiot.
2007-12-06 12:33:03 · answer #9 · answered by Isabella 2 · 1⤊ 0⤋