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White House press secretary Dana Perino asserted that some within the government were trying to build support for the plan through leaks to the media.
"I've seen this happen in Washington before where people float out ideas in the media," she said. "What I can tell you is that we're in the middle of analyzing several different proposals."
The White House said it has already acted to help homeowners. White House spokesman Carlton Carroll said that almost 3 million foreclosures have been prevented using federal programs since the beginning of the housing crisis.
Originally posted by DaddyBare
Whether we agree with a bailout for home owners or not is a mute issue...
All the experts agree that until we can turn around the housing crises the economy will not rebound...
I do agree with those who argue, "Why should my tax dollars help out those who acted irresponsibly"? After all I didn't take out a second or third mortgage to buy a new Lexus why should I help them out?
Well I wouldn't but this news story has a deeper meaning.
they now think that by next summer we'll see values drop 40% they think by the time whoever becomes the nest president, takes office we'll have just over three million jobless folks and another 1.2 million foreclosed homes....
the experts who were pushing for a homeowner bailout were basically saying the wanted the FED to completely take over the mortgage business, forcefully, if need be! claiming that the only way to turn the economy around is to first fix the housing problem...Those same people haven't gone away...they will keep pushing for this plan... I can see their point but even at 0% interest government secured loan, how will people be able to buy a home when jobs keep disappearing faster than were making new ones?/?
At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm's report released Friday. In other words: If they sold their homes today, they'd have to bring a check to the closing. Ouch.
Originally posted by RRconservative
You bought the house? You pay for it!
I'm sure there are thousands of people late on their car payments too, you want to government to help out there also?
[edit on 31-10-2008 by RRconservative]
Originally posted by ATruGod
The Corporations that screwed up the economy srewed up why exactly is it ok to bail the rich out and spit on the poor. Double Standards
Originally posted by RRconservative
You bought the house? You pay for it!