Well, that’s that. Housing rescue bill heads to Bush for signature Congress passed the most significant housing legislation in decades Saturday, offering help to struggling homeowners and seeking to stabilize a troubled housing market that has dragged down the economy. President Bush will sign it quickly… … Housing “is a matter of grave concern to…
Tag: bailout
Here Comes the Big Bailout, Funded by You and Me
The US taxpayer is about to be saddled with hundreds of billions of dollars in bailouts to pay for the idiotic decisions of those that gleefully inflated the housing bubble. At 11:00 AM Eastern TOMORROW (Saturday), the Senate votes on the “housing rescue” bill, which includes: …an unlimited line of credit to Fannie and Freddie,…
Who gives a RA about the banks, anyway?
I thought we could use a thread to discuss the insanity that reigns in the financial world today. You all already know the news. IndyMac taken over by the FDIC in the third-largest bank failure in US history. The bailouts of Fannie & Freddie have begun. Here’s another take on the weekend news: Now here’s…
Seattle Bubble Speaks out Against Bailouts on NPR
Stop the Mortgage Bailout, Patrick.net, and Seattle Bubble were featured this morning in a segment called Opposition to Proposed Homeowner Bailout Growing on NPR about the various government bailout plans. You can listen to the full three-minute segment on NPR’s website. Here’s a little clip of my appearance: https://seattlebubble.com/blog/wp-content/uploads/2008/04/npr_2008-04-09-clip.mp3 The house Mr. Kaste and I…
Stop the Mortgage Bailout
There’s a new site called Stop the Mortgage Bailout that aims to draw attention to the anti-bailout cause and educate people about what a bailout would really mean. From the site: A bailout is morally irresponsible because it encourages irresponsible and irrational behavior. Here is a short list of the many “moral hazards” that a…