Why does the government have to jump in and save the mortgage giants?
by Mortgage Rates on Tuesday, September 14th, 2010 | 9 Comments
-
Mortgage Info
-
Updates
-
Useful Links
-
-
Tags
2010 About article Auctions bank banks best Business buyers change Credit Debt Equity Financial First fixed Foreclosure From good Government Help Home house Housing interest Loan Loans Market more Mortgage Mortgages Need News options qualify Rate Rates refi refinance Refinancing should this Time variable would-
Meta
yea yea you talked about it yesterday about your friend who bought 3 houses we know we know….long story short, this country is f*cked up.
…because they can’t give the mortgage and insurance industry back to smaller companies and the people, where it should now belong. They must control everything. Scary, isn’t it?
Now they’ll all slap each other on the back, then award themselves a big bonus for saving the company
where are you going to keep your money when your bank is no longer around?
It’s a lose-lose situation. Here are the options..
1- The government takes over the companies and feeds them all the money necessary to get them healthy again and resell them (hopefully for a profit) when the time is right. Unfortunately we, the taxpayers foot the bill.
2- We let the 2 biggest mortgage companies collapse and if you know your history, could lead us into a depression.
It sends the wrong message, but bad business practices should not be rewarded with taxpayer’s dollars.
Most financial experts on the talking head shows agree that todays poor economy was caused by high energy prices and the whole bank colapse thing.
I agree!
The execs all made money on all the refis and now they should be held accountable for when these loans fall through.
People who were responsible with their homes shouldn’t have to pay for the mort companies indiscretions.
You know the government always wants a piece of the pie!!!
It’s kind of scary to watch from this side of the border.I lost much of my invested monies,which were not even mortgage funds.Then I was forced by People with Disabilities govt department to cash in my account for their reasons.My experience is that nobody is financially safe because of those lending institutions.
I think the 80% stake they gained in the process had a bit to do with it. The real question is why won’t the gov. help it’s own citizens that are losing everything they have due to predatory lending?