If the expectation of economic recovery plans legislation an attempt to nationalize the industry Home Mortgage?
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August 12 2010 3:54 pm | In : Home Mortgage
Looking up the ceiling on mortgages insured federal government and between the subscription purchase of various agencies of government mortgage portfolios effectively nationalized the mortgage industry unvetted. As I read that it may 2000000000000 U.S. dollars of bad debt out there, I think we mean that the taxpayers on the hook so many bad loans in. Why do I think we see another Savings and Loan Scandal? I hope I am wrong.
It’s much worse than the scandal savings and loan. There are more houses now than during the Great Depression excluded. Freddie Mac and Fannie Mae, where most of the loans they originate, are supported by taxpayer money. The best thing to do to help people in their homes, keeping their affordable loans, but always pay for their homes.
We bail out banks because bank failures have serious consequences for the real economy. Banks play Heads I win tails you lose with the public and have always done. They use only the failure to put their depositors and their loss, but with the introduction of deposit insurance, taxpayers hangs. ordinary banks are now regulated, so it was not uncommon, but a Home Mortgage unregulated industry developed to continue the game losses are more than just the house because of defaults, because the securities were created subjects of speculation, so many people money on this mess. At least one hedge fund manager, $ 3 billion in commissions to 20% of that for its investors, so that another 15 billion for the bill to the taxpayer. will end up with. The real icing on the cake, which account for 3 billion dollars, GDP growth has been and will be taxed on capital gains, because people need a tax break gave them an incentive to the growth of economy.