Brilliant. At a time when people are losing homes due to foreclosure, why not use it as a way to get more for the government, so government can fund the programs to help those displaced by the economy ?
Why didn't we think of it sooner ?
Foreclosure costs to rise - Capitol Confidential
3 comments:
I h8 Democrats.
8:28-you should also hate republicans. Google Rep Bob Ney of Ohio and read about his efforts to prohibit states from banning subprime mortgage loans.
I Googled Bob Ney + subprime and hit stories from 4-6 years ago. If you have a point to make you are going to have to expound.
I have no problem with sub-prime mortgages and think making them illegal is asinine. I do have a problem with Barney Fannie and Franky Mac buying or originating them. I do have a problem with Moody's giving them AAA ratings.
I do have a problem with bank/financial regulators counting them as assets and not recognizing them as junk. I do have a problem with loan shark interest rates but no one has put a cap on interest rates yet, so that is a separate issue.
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