Well he, Bush,last week gave a plan to help the homeowners struggling with ARMs. OK is it help? NO f*cking way! It will be a short, very short term fix for the homeowners but it will be a major boom for the financial services that created this problem.
Sorry to say, there is no long term help in his plan. And only a small percentage of homeowners will see any, any assistance in this move.
You DO realize that foreclosures are up 94% over last year? Right? They are up 18% over last month. Anytime the government gets involved in saving a market, the notion of free markets goes down the toilet.
The saddest thing about this situation is that the financial institutions will come out of this pretty good. The borrowers will LOSE their homes. That is somehow okay as long as the financial sector does not suffer. Is this what you want from your government? If so, you are a sick f*cker!
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