Democrats want to take all our money and return to us one dime out of each dollar.
Republicans want to take all our money and give it to corporations and the wealthy.
Neither is acceptable!
Campaign 2010
Countdown to Congressional Elections
The most effective way to restrict democracy is to transfer decision-making from the public arena to unaccountable institutions: kings and princes, priestly castes, military juntas, party dictatorships, or modern corporations.
Noam Chomsky, M.I.T. emeritus Professor of Linguistics
If you were a home mortgage lending company, how much would you loan on the house pictured here; $5,000, $10,000, $25,000? The house had a sign on it that read “Unfit for human occupancy”. [...]
Mike Jackson, CEO of AutoNation, is a guest on CNBC’s Squawk Box this week. In a segment called the Root of All Evil discussing who should be blamed for the housing crisis, Jackson gave his opinion. He said it was a “reckless abandonment of credit standards by the housing industry”. He went on to say that in 04 and 05 they were building houses like crazy, and then they ran out of buyers. So they had to slow down the building or change something. They decided to drop their credit standards. He quoted things like “no money down, no equity, no credit checks, no proof of income, no proof of a job; here’s the keys”. Continue Reading » »
House Financial Services Committee Chairman Barney Frank has introduced a bill that is intended to help certain homeowners who qualify to stay in their homes. The loans would be funneled through the FHA, but would not be a give-away program. The following is a quote published by CNN. “Only homeowners who have a mortgage-debt-to-income ratio of 35 percent or higher and who entered into a mortgage before January would qualify for the program. Continue Reading » »
Home mortgage lenders have gotten a free ride compared to the borrowers when it comes to who is to blame for the current mortgage crisis. There is no question that the borrowers have a big responsibility here, but as time goes by, more and more information is coming out about how the lenders played the bigger role in getting loans for people who should not have been qualified. Lenders increased the declared amount of actual income for the borrower in some cases. In other cases the lenders overlooked bad credit and existing debt of the borrower. Now there is a whole new group that is making a fortune off the homeowner’s woes, along with the lenders who are also profiting from foreclosures. Continue Reading » »
At the top of the Glen Beck show last night he was talking with a guest when Beck made a sarcastic remark about bailing out the home owners who got caught up in the unaffordable variable interest rate mortgage. Continue Reading » »
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