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scooterbug44

SoWal Expert
May 8, 2007
16,732
3,330
Sowal
Can someone please explain WHY we are supposed to bail out lenders who made irresponsible loans or people who borrowed more than they could afford so they could live beyond their means?

Can I have a handout too? I probably don't qualify because I've been fiscally responsible, but figure it's worth a try! ;-)
 

spinDrAtl

Beach Fanatic
Jul 11, 2005
367
2
Saw a quote this morning from Christopher Dodd:

"We may have as many as 1 million to 3 million people who could lose their homes, not because they lost their jobs, not because the economy collapsed, but because they got bad deals on mortgages," said Senator Christopher Dodd, a Connecticut Democrat who is chairman of the Senate Banking, Housing and Urban Affairs Committee.

I think he meant to say "They used their homes like an ATM to buy SUV's and willingly signed their loan documents."
 

Bob

SoWal Insider
Nov 16, 2004
10,364
1,391
O'Wal
bernanke-helicopter.jpg



.
You've got the wrong action figure. G.I. Joe Greenspan already did the money dump. Bernanke strikes me as a violin player. He's going to fiddle while Countrywide burns.
 
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