Bush weighs in on mortgage mess

Aug. 31 - President Bush and Fed Chief Ben Bernanke both say no bailout for speculators in housing while White House pushes plan to help some people keep homes. At the White House, President George W. Bush adopted a tough love stance toward speculators and homeowners who over-reached during the housing boom.

Category:

News & Politics

Tags:

• President
• Bush
• mortgage
• foreclosure
• housing
• lender

[sha370z]

the fed and gov got off the bench in and got in the game

[HurricaneHeidi]

Read "The Creature from Jekyll Island" by Griffin, and "Web of Debt" by Brown, and then read "Default !!! Escaping the Debt Trap and Avoiding Bankruptcy" by Guedel, in which 2 people defaulted on over 94K of unsecured credit card debt and avoided bankruptcy and judgment and defeated a major bank's collection attorney. It can be done. Banks are stealing from us all... get out of their crooked banking system -- move your money to Credit Unions ... create and join more honest Credit Unions.

[dynistys]

Back in 2005 I asked a real estate person who were all these people buying these expensive homes? I was unpleasantly surprised to hear that many of these buyers were young couples who were using their inheiritance as a down pymt!! These young people were duped into applying their families money into an already slipping hsng

mrkt. I only hope these young people make it. How cruel. I say, no bail for speculators...but assist the single family, single home buyer. Also, assist the elderly.

[Epicurus2828]

In '99 Clinton asked Fan. Mae & Fred. Mac to lower their standards (for the poor). Following 9/11 interest rates fell drasticaly, then in '02 Bush asked Fan. Mae & Fred. Mac to lower their standards again. Here's the big one: In '04 the SEC failed to properly regulate Credit Default Swaps or insurance policies on mortgages. Financial institutions were allowed to hold only 3 cts for every dollar of risk. That permitted institutions to "gamble." BUSH AND THE '04 SEC CHAIRMAN ARE THE ONES AT FAULT!

[abetuar]

Where is the news conference George Bush held in 03, 04 when he praised all the new home owners and how good the housing industry was doing. "...more home owners than anytime in history..."! GOOD JOB BROWNIE!

What a douche!

[bauvil2003]

i REALLY THINK THAT YOU BARELY KNOW TO READ.OTHERWISE, YOU WOULD EASY UNDERSTAND THE IMPACT OF THE GUY WHO DOES OR FIXED THE BED WILL HAVE ON THE ENTIRE ECONOMY.YOUR BED WILL BE BROKEN TOO.

[dstad]

You made your bed now lie in it.

It may be out in the street, but it's still your bed.

[nesnman]

Why do we always have to fix problems because people don't read contracts or buy more of a home then they can afford?

[deadtesticle]

Aliens can float in the Air like Ghost, did you notice its smiling? Must be a neocon ALien Supporting Bush.

[Turtleproof]

Bush and his cabinet should be impeached for obvious reasons, not because of alien-themed paradolia.