Sorry Falcon but I think you may be wrong on this when you say your tax dollars at work. This is money guaranteed through FDIC. Since it is voluntary to deposit your money and a portion of your interest is going to pay for insurance, won't this be considered the depositor's insurance money?
__________________
John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Since it is voluntary to deposit your money and a portion of your interest is going to pay for insurance, won't this be considered the depositor's insurance money?
Better do some research. FDIC insurance is about one trillion dollars in the hole from the thrift bailout 20 years ago. Like I said, it is your tax dollars.
This is what happens when the Republicans are in office 8 years. They of course are not connected at all, as with the enron mess. Nooooo, this Republican administration has clean hands, nothing is their fault, never nothing.
FACT: This whole mess came about when people didn'tmake the mortgage payments they agreed to make. Iknow, I know, nobody is responsible for living up to their commitments, the government owes everyone a living, and Bush is to blame for everything!
LOL, Its all the american people's fault. The Gov. is immune to any liability, except the dems in congress of course.[8D]Like I said before, there is no way that goverment has anything to do with anything. So idiotic that its pathetic. The ironic thing is, the definition of the word GOVERN.
This whole mess came about when people didn'tmake the mortgage payments they agreed to make.
It goes much deeper than that. Sub-prime lenders knowingly put mortgages out to folkswho did not qualify.Many lenders did not even ask for evidence of income, bank account or even a social security number. Lenders did not care if the guy defaulted on the loan three years down the road: They were banking on the home value to dramatically increase as it had been doing for many years:They were in a win-win situation. Then the bottom fell out of the real estate market and companies like Country Wide were suddenly hurting.
You are very correct falcon, these lenders would sell off the loan for a profit as soon as they nabbed a mortgage. Also, The fact that the economy was in trouble anyway before the mortgage crisis, caused alot of americans not to be able to afford payments, jobs lost, cost of living, ect. The Bush administration/Republican economic policies over the past 8 yearsis responsible totally for the snowball affect that is not over yet.
Fed Closes Mortgage Lender IndyMac
