Tag Archives: president bush

Inside Job Is A Loathsome Documentary

I had a friend recommend this film to me. I watched it this afternoon. I was revolted. The movie blames a tiny group of financiers for the world’s recession. The only blame it places on politicians is for insufficiently disciplining … Continue reading

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Senate’s Refinance Bailout Plan

From the wires: Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac, instead of taxpayers, would back up a home loan rescue for up to 500,000 strapped borrowers under a plan approved by a key Senate committee Tuesday to … Continue reading

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Mortgage Rate Relief

From the San Jose Mercury News: Months after many eager homeowners started gearing up to refinance their mortgages, interest rates for Bay Area-size mortgages are finally falling. Government-sponsored agencies Fannie and Freddie buy bundles of mortgages from lenders, and package … Continue reading

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Federal Mortgage Rescue Plan Puny

From the New York Times: WASHINGTON — Fewer than 2,000 homeowners at risk of foreclosure have been helped by a Federal Housing Administration program that President Bush promised would help homeowners who had fallen behind on their mortgage payments, federal … Continue reading

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Refinance Crisis: San Jose Mercury News Urges Government Intervention

Who knows what the right price for a home is? Why do these people feel the government should intervene to shore up real estate prices? Yes, the economy has problems, but how do we know that government intervention will make … Continue reading

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Refinance Bill – Little Cost, Little Help

CNNMoney estimates that only 325,000 home owners would be helped by Barney Frank’s bill. The CBO estimates the price tag at less than $2 billion. Senator Dodd is working on a similar bill. President Bush promises a veto. Ben Bernanke … Continue reading

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President Bush Threatens To Veto Mortgage Bill

Why are those who are prudent with their financiers being asked to bail out those who gambled and lost? This makes no economic sense to me. Yeah, but it seems so compassionate. I hope this goes nowhere. The following bill … Continue reading

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Congress Expects To Pass Mortgage Relief By July

Barney Frank is all optimistic a deal will be reached. President Bush isn’t so excited about all this additional mortgage relief. He’d rather let the market do its thing. The Democrats and many Republicans want the FHA to expand its … Continue reading

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The Big Federal Bail-Out

Not big enough? Not enough government intervention? Not enough subsidizing of bad decisions? This New York Times article says only about 2,000 homeowners near foreclosure have been helped by President Bush’s plan arranged last August. Most of those benefiting have … Continue reading

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Republicans Now Have A Mortgage Plan

The Democrats were getting all the positive press for pushing various plans for the government to intervene in the housing market and bail out those who made bad decisions. The Democrats are ready to spend $300 billion and more. The … Continue reading

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