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Homeowners struggling to make payments on their own residences are only a small part of the overall financial crisis gripping the U.S., according to a new study from researchers at Ohio State University.
Under a worst-case scenario, the study from economics professors Randall Olsen and Lucia Dunn estimates total losses on first mortgages of owner-occupied homes could climb as high $180 billion.
"You're not talking about a number like $700 billion. That's just not right," Olsen said, referring to the price tag of bailout legislation House members rejected in a dramatic 205-228 vote Monday.
-GWB (Link1)
The problems in our economy are extremely complex, but at their core is uncertainty over "mortgage-backed securities."
(Link 2)
McCain said the Treasury Department should use an already approved $1 trillion fund to buy up bad mortgages.
Obama (Link 3)
Two years ago, I warned that, because of the subprime lending mess, because of the lax regulation, that we were potentially going to have a problem and tried to stop some of the abuses in mortgages that were taking place at the time.
Originally posted by burdman30ott6
This study leaves absolutely no doubt in my mind that we the American tax payers are being ordered to pay for the mistakes of Wall Street
Originally posted by mybigunit
Ive done my part. Ive contacted both Senators for Florida and let them know how I feel. If people dont step up and contact their representatives then we deserve what we get. People need to step up.
Originally posted by burdman30ott6
I think you can add the House & Senate onto your list of controllers,