Also, why is it Republicans advocate "personal responsibility" and less government intervention when its means financing welfare, but when their buddy mortgage lenders and Bear Stearns investment banks start to see trouble, they step in? Yeah, now I know what the "bull" in bull market is short for.
Aug. 31 2007 11:28 AM
Score: 0/0
Trevor
from LIC
People blame the mortgage lenders as complicit in this mess (as they are), but what about the security underwriters who came up with these kooky products in the first place?
Aug. 31 2007 11:24 AM
Score: 0/0
robert
from park slope
3 years ago, I took out a 30-year fixed-rate mortgage although I could have taken a floating-rate and saved a few hundred bucks every month. I took the fixed-rate because I would not have been able to afford payments in an environment of rising rates. Alas, the joke's on me. I could have enjoyed the lowered rates and then had the government bail me out once rates rose.
Aug. 31 2007 11:23 AM
Score: 0/0
superf88
from NJ
Great! So I assume those of us who have been renting until the free market reduced home prices to responsible borrrower levels will also qualify for a couple hundred grand in this new government cheese?
Aug. 31 2007 11:17 AM
Score: 0/0
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Comments [4]
Also, why is it Republicans advocate "personal responsibility" and less government intervention when its means financing welfare, but when their buddy mortgage lenders and Bear Stearns investment banks start to see trouble, they step in? Yeah, now I know what the "bull" in bull market is short for.
People blame the mortgage lenders as complicit in this mess (as they are), but what about the security underwriters who came up with these kooky products in the first place?
3 years ago, I took out a 30-year fixed-rate mortgage although I could have taken a floating-rate and saved a few hundred bucks every month. I took the fixed-rate because I would not have been able to afford payments in an environment of rising rates. Alas, the joke's on me. I could have enjoyed the lowered rates and then had the government bail me out once rates rose.
Great! So I assume those of us who have been renting until the free market reduced home prices to responsible borrrower levels will also qualify for a couple hundred grand in this new government cheese?
Leave a Comment
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Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.