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During the State of the Union speech Tuesday everning, president Obama made the comment;
"It’s time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts."
and then went on to propose a new mortage/re-finance gov't program as if it were "for the people". Don't be fooled, this iniative is actually "for the banks".
Why? Because the program will take mortgages that are not backed by the federal gov't and make them gov't backed mortgages thereby lessoning the risk on the books of our wonderful banking industry.
Once again, a fine example of gov't backing corp. America.
__________________ "No one walking this earth knows what is truly righteous"
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and then went on to propose a new mortage/re-finance gov't program as if it were "for the people". Don't be fooled, this iniative is actually "for the banks".
But, but, but.....Romney says banks are people - and they're scared, too.
Quote:
At an event designed to highlight President Obama’s failure to end the foreclosure crisis, former Massachusetts governor Mitt Romney said banks that foreclose on homes aren’t “bad people.”
“Now, the banks aren’t bad people,” Romney said. “They’re just overwhelmed right now. They’re overwhelmed with a lot of things. One is a lot of homes coming in right now that are in foreclosure or in trouble and the other is with a massive new pile of regulations.”
“Banks are scared to death to write down the loans, for fear that it will make them go insolvent. At the very time we wanted banks to be more flexible and creative and help people stay in their homes, banks become less flexible, less creative, more insistent on foreclosure."
I found it pretty laughable that the guy who handed out bailouts, stood there and said no more bailouts, as if he's been some sort of champion against them.
Change we can believe in.
BTW PR, it's only a bailout when it's for the things the other guy wants them for. Of course, when "our" guy ends up bailing out those very same things too, then banks are people.
Quote:
Originally Posted by IcyPatriot
why do you deflect all the time?
Cuz it's the only thing certain people in here know how to do.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
I found it pretty laughable that the guy who handed out bailouts, stood there and said no more bailouts, as if he's been some sort of champion against them.
Change we can believe in.
Well, gee willickers, considering he assumed office when the economy was in free fall, he didn't have much of a choice, now did he?
Declaring that there would be no bailouts from this point onward is neither hypocritical nor laughable.
Well, gee willickers, considering he assumed office when the economy was in free fall, he didn't have much of a choice, now did he?
Declaring that there would be no bailouts from this point onward is neither hypocritical nor laughable.
Of course Jack.
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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Last edited by Real World; 01-26-2012 at 10:07 AM..
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More Deceipt by our Federal Gov't/Obama
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