posted on Sep, 19 2008 @ 06:29 PM
It just pisses me off because I would have much rather had them help the homeowners directly, when this first started to happen, and help prevent all
the foreclosures and such at the outset. But nooooo. We have to be all judgmental about "those irresponsible borrowers" and let them suffer.
It seems to me more overall good would have been done if the government had stepped in and made some move to guarantee some sort of refinancing
scheme, to allow those people to stay in their homes.
The people would have been able to stay put, and hopefully kept up their payments, as it was the rising of the rates that was forcing them into
foreclosure in the first place.
The markets wouldnt have been flooded with people desperate to sell or foreclosed homes.
The banks would have gotten their mortgage money, just with a little less profit.
Which would have meant AIG would not have lost all that money on the insurance for those loans, and not needed bailing out.
And the People of the United States would not be left to pay not only for the houses, but in essence all the salaries of all the wankers that caused
this mess to begin with, because believe you me, those guys are going to get their compensation packages regardless what incompetents they are.
I just would rather have spent the money, (and I would bet it would have been a lot less money) helping the homeowners at the start of all this. Now,
not only have they lost their homes, but in essence these same people (and all of us) are going to be paying the lenders debts as well as their own.
Its terribly unjust. Just my two cents.