Mike, you're spot on, and thanks for bringing attention to the farce. This whole thing is major, major swindle. The big banks should have to bear the consequences of the risks they took in making loans to those with poor credit, and with no money down mortgages. Instead, we all do, and we're gonna pay for this even more later down the road when the Fed's credit rating drops from AAA and the dollar loses its status as a reserve currency. It's always wrong to reward failure (bad banking) with money - that's corporate welfare. Beware....
2 comments:
Mike, you're spot on, and thanks for bringing attention to the farce.
This whole thing is major, major swindle. The big banks should have to bear the consequences of the risks they took in making loans to those with poor credit, and with no money down mortgages. Instead, we all do, and we're gonna pay for this even more later down the road when the Fed's credit rating drops from AAA and the dollar loses its status as a reserve currency. It's always wrong to reward failure (bad banking) with money - that's corporate welfare. Beware....
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