Comments on: Bush To Put 30-Day Freeze On Foreclosures

In Effort To Combat Housing Slump, President Offers Relief Program To Qualified Homeowners

[singingrick]

The Bush Budget Deficit Death Spiral


Lenders talk about a %u201Cdebtor%u2019s death spiral.%u201D It occurs when borrowers get so far in over their heads they begin borrowing money just to cover the interest payments on past borrowings. The borrowers have to do this to keep the lending flowing but they can no longer plausibly pay down the principal. As new debt compounds on old, bankruptcy becomes imminent. Further lending is foolhardy. Foreclosure is only a matter of time.

The U.S. is starting to look like it is entering just such a death spiral. It is foretold not simply by the large and growing deficits, nor by the fact that their carrying costs will rise quickly as interest rates rise. Rather, it is the fact that these trends are becoming irreversible, a structural part of the U.S. economy.

[prinzowhales]

Thirty days...that''s just about right...should clear the crisis up nicely...for thirty days...Now quit bugging the president and let him get back to the warm embraces of his military prostitute lover, Jeff Gannon...

[dylanxxv]

The government has no business sticking their nose in this...No one can seriously make the claim they didn''t understand what an ARM was when they went way beyond what they could afford to live in...

[easeup-2009]

"And what exactly is our boy-idiot President doing here? What''''s stopping lenders from working out terms with homeowners right now? Nothing. More worthless talk from a worthless man."

Please enlighten me on how the government forced people to sign idiotic mortgages and how the government forced lenders to give these loans?

Do you blame your runny nose on Bush too?

[mcv57]

How do you spell M*o*r*t*o*r*i*u*m. Actually this was pretected 30 years ago, as part of the financial debacle in America. The author who prodicted this (if memory serves me well) also predicted that the government will seek assistance from big mega insurance companies to help restore currency value (after the banks fail stablize the market).

[mcv57]

Meth Deposited In ATM, Woman Jailed
Woman Accused Of Including Meth With Money In Bank Deposit Envelope
BREMERTON, Wash., Feb. 12, 2008

(AP) Credit unions accept deposits _ just not of methamphetamine. A woman who allegedly dropped an envelope containing money and a bag of meth at a Kitsap Credit Union was arrested and charged with drug possession, according to court documents.

A bank employee reported the deposit to police, who contacted the 18-year-old customer. Officers said she might have mistakenly included the bag when she got money out of her pocket for the deposit.

There goes the last of the middleclass drug peddlers. What is the world coming to?

[jumkey]

Hey DemWatcher? Even lawyers don''t understand mortgage contracts - they''re obscure and obtuse on purpose. If only people who understand them signed them no house would be sold in this country. I really really really hate that childish streak of "ha ha ha ha on you" that seems to be part of the conservative American brain malfunction. Go back under your rock jerk.

And what exactly is our boy-idiot President doing here? What''s stopping lenders from working out terms with homeowners right now? Nothing. More worthless talk from a worthless man.

[singingrick]

The Bush Budget Deficit Death Spiral


Lenders talk about a %u201Cdebtor%u2019s death spiral.%u201D It occurs when borrowers get so far in over their heads they begin borrowing money just to cover the interest payments on past borrowings. The borrowers have to do this to keep the lending flowing but they can no longer plausibly pay down the principal. As new debt compounds on old, bankruptcy becomes imminent. Further lending is foolhardy. Foreclosure is only a matter of time.

The U.S. is starting to look like it is entering just such a death spiral. It is foretold not simply by the large and growing deficits, nor by the fact that their carrying costs will rise quickly as interest rates rise. Rather, it is the fact that these trends are becoming irreversible, a structural part of the U.S. economy.

[demwatcher]

"This statement can only be true if predicated on the myth of Equal Knowledge. If the borrower has the same knowledge as the lender, then your words are that of a sage.

Posted by curse914 at 03:06 PM : Feb 12, 2008"

If you do not read any contract you sign, you are stupid. If you don''t understand it AND still sign it, you are REALLY STUPID!

[demwatcher]

Posted by curse914 at 02:55 PM : Feb 12, 2008

Do some research before spouting. Fannie May USED to be government run until about 1968. Freddie Mac IS government run i.e. CONGRESS.