Cracking down is an after the fact action. If the customers had knowledge of government approved agencies before had, you would not have the scams in the first place. Make it known that the mortgage company is working with the government. If they do not pass that test, do not deal with them.
It sounds like it's going to be as effective as the last time the government stepped in to help....I think they reported 5 people, nation-wide, benefited....and it was a fraction compared to this one. There will be billions wasted and unaccounted for when it's all said and done...which will be years after Obama leaves office. They've even admitted up front that 1% (1% of a trillion $) may be wasted and will get all the attention over the 99% expected to be spent responsibly. Well...in your experience...how many government programs over the last 50 years have been 99% effective and operated as designed? Exactly.... Posted by poeticaintit
Obama's from the government and he's here to help.
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Now you'll have to watch for insurance scams.
Posted by poeticaintit
Obama's from the government and he's here to help.
Posted by hatesthecolt at 10:19 AM : Apr 6, 2009
Barney Frank was against it. He said it would interfere with affordable housing.
Yes, he actually said that in a NYT interview in 2005.
The WSJ reprinted the article when the Fannie/Freddie meltdown occurred.
But liberals pretend they didn't hear about it.
Posted by bumpedoff1 at 8:56 AM : Apr 6, 2009
Thanks for reminding me!
Do a news search on "Fannie Mae" and read the story from 4/3 titled: Fannie, Freddie To Pay $210M In Bonuses
The Democrats are handing out another free pass.
Just like Clinton did for Madoff, who was a major contributor to the Clinton campaign.