Quote:
Originally posted by SlaveNoMore
The more I read about this "bailout" - I don't get it.
The qualifications are so limited, it's only going to affect about 100,000 loans. A drop in the bucket. And most aren't even what is regarded as sub-prime. So why do anything at all?
The whole concept is deplorable. By propping up artificially high RE values - ostensibly so homeowners can continue the "American Dream" of owning a home - it's keeping countless others on the outside of the American Dream of owning a home.
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Even the corpse of Lee Iacocca thinks it's bad policy.
