Axelrod, a municipal employee who lives outside Chicago, entered a trial mortgage modification program this spring. But many don’t realize that entering a trial mortgage modification can actually hurt their credit. Most troubled homeowners view President Obama’s foreclosure rescue plan as a way out of their financial troubles. Tami Luhby, December 28, 2009: NEW YORK () Should a FB choose his/her FICO over an affordable mortgage We’ll pick up all your travel and security expenses.” Wanna bet we taxpayers are footing the cost of that trip? The Massachusetts Democratic Party is not saying “Mr. To illustrate how desperate the Democrat Party is, they are importing President Obama on Sunday to campaign for Coakley! He said he was not going to get involved, then suddenly changed his mind. Scott Brown wants hospitals to turn them all away.” which says, “1,736 women were raped in Massachusetts in 2008. Brown is contemplating legal action in response to the cover of a four-page mailer sent by the Massachusetts Democratic Party. Coakley changed it to “What can Brown do to you? UPS is ticked and may have reason to sue. (The outfit with all those brown trucks.) “What can brown do for you?” was the UPS tag line. Somebody did a bad PhotoShop job of attaching Brown’s head to an ad from UPS. Senate seat formerly occupied by Ted Kennedy, but it’s turned childish as well. Martha Coakley’s campaign not only has turned nasty as she tries to fend off Scott Brown for the U.S. Coakley is having Barry interrupt a golfing&basketball day to help sink her campaign. Just another example of how pathetic politicians can be. They also don’t think the Internet can take up the slack as more newspapers founder.īranchaccio didn’t challenge them at all on where they thought the harried taxpayer would get the extra funds with which to support the news media.
They showed no understanding whatever of the function of the competitive free market in news dissemination. They think taxpayer supported journalism is the wave of the future and contend that just because journalists’ paychecks come from the government till their reporting will not be influenced by it. I saw the NOW interview and could not believe the conclusion drawn by McChesney and Nichols. Should journalism get the next government bailout? Their new book is “The Death and Life of American Journalism: The Media Revolution that Will Begin the World Again.” This week, NOW’s David Brancaccio (PBS) talked to professor Bob McChesney and journalist John Nichols about the perils of a shrinking news media landscape, and their bold proposal to save journalism with government subsidies. However, we can’t forget that most of these shenanigans were crafted by Hanky Panky Paulson and his “partners” at Golden Sacks. What bugs me is that Summers and Geithner should have known that this is what would happen and should have warned Obama. The fatal flaw of honest people is in thinking that everyone else is as honest as they are. And they saw the Fed as gift money to go to Vegas (metaphorically - they sure as hell didn’t go to Vegas physically or financially.) And to be honest, I think this is what Obama (personally), along with most of America, would have done.īut N-O-O-O-O, they are a greedy bunch of. Pay off your bills before you go gambling again. That’s how an honest, conservative Wall Street would work, anyway. Housing prices would fall to where the smart folks (us) would raid their pockets of shadow cash, thus injecting more fresh real money into the system. Meanwhile, the new owners of the less-toxic MBS would then unload the actual shadow inventory homes at a 50% haircut to make their own profit.
The Fed would use the profits from the TARP program to create new jobs in health/edu/energy as per Obama’s domestic agenda. As the economy healed, the banks would then use the future profits from their newly shored-up fundamentals, and the payments from those re-worked mortgages, to pay back the Fed.
They could then re-work “most” people’s mortgages - at least primary residences - which would keep people paying a reasonable amount, which would keep consumerism going if only at a lower lever. They were supposed to unload all their toxic MBS assets on the open market at 40+% haircut and use the Fed money to cover their losses.