Obama to try executive powers to aid economy

iVillage Member
Registered: 04-07-2002
Obama to try executive powers to aid economy
39
Mon, 10-24-2011 - 12:00pm
Obama to try executive powers to aid economy

With his jobs plan stymied in Congress by Republican opposition, President Obama on Monday will begin a series of executive-branch actions to confront housing, education and other economic problems.

By JACKIE CALMES

The New York Times

 nwtreehugger  

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iVillage Member
Registered: 05-03-2011
Wed, 10-26-2011 - 4:46pm
The homeowners aren't getting "bailed out." Repeating that over and over doesn't make it so. They are still on the hook for the full mortgage amount plus interest...current interest rates.
iVillage Member
Registered: 05-03-2011
Wed, 10-26-2011 - 4:47pm
"Swindled"? LOL.
iVillage Member
Registered: 02-05-2011
Wed, 10-26-2011 - 4:53pm

iVillage Member
Registered: 02-05-2011
Wed, 10-26-2011 - 4:59pm

iVillage Member
Registered: 05-03-2011
Wed, 10-26-2011 - 5:20pm
If you say so.
iVillage Member
Registered: 08-30-2002
Wed, 10-26-2011 - 5:27pm

Who is the government to be dictating spending of money that isn't the governments? ***

As an aside. In California "landlords" are being notified that if they rent to marijuana dispensaries, their property can be seized. One of these letters went to a bank (Chase I believe) that told them that they held the note on a marijuana dispensary and the property could be siezed if they did not evict their noteholder.

Who is the government to be dictating that banks can't lend to illegal drug dispensaries? After all, it's none of the governments business what banks do with their own money.



iVillage Member
Registered: 02-05-2011
Wed, 10-26-2011 - 5:43pm

iVillage Member
Registered: 05-03-2011
Wed, 10-26-2011 - 6:06pm
If the loans are backed by Freddie Mac or Fannie Mae, the banks can most certainly have terms dictated to them by the government.
iVillage Member
Registered: 03-03-2009
Sun, 10-30-2011 - 11:57pm
The whole "swindling" and "stealing" theme is piffle and spin. Banks aren't making loans--though the whole idea behind TARP was to make sure that credit and lending didn't freeze up. They're not re-financing notes at lower rates because presumably they think they can squeeze water out of a rock.

Pretty stupid, if you ask me. But much of the resistance may be a function of the fact that so many notes were bundled into derivative "securities" (how's that for an oxymoron?!) that nobody quite knows who's in a position to take a bit of a hit for allowing lower mortgage rates.

In any event, I am just not seeing them as victims! http://www.nytimes.com/2011/10/25/business/banks-flooded-with-cash-they-cant-profitably-use.html

Jabberwocka

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