Sunday, September 28, 2008

About the Bailout

I'm pretty unhappy about the whole bailout plan. I know I'm no economist, but I do know that you don't throw good money after bad. Here are two videos shared by a fellow Pea that I think are worth watching:

Obama received the 2nd highest amount of $$ from Fannie and Freddie

They Knew in 2004


Ken said...

Yes, they knew it would happen and did it anyway. All of the banks made money off of every loan and lenders received bonuses for so many loans in a day. We will soon see mortgages like we did in the 80's where you will not be approved without 20% down.

Reverse mortgages will be the next thing to do this.

Kens 2cents.

Jess said...

Back in the 20's people only ever took loans with 75% down and still some people lost their homes. They got 100% financing on that last 25% and couldn't make the payments.

What's that saying? "God's Word calls children a blessing and debt a curse. So why do so many of us rush to sign up for the curse and reject the blessings?"