A Day Late and A Dollar Short…
… is about how I think a lot of people are going to see this move. This mess should have been addressed WAY before now. Allowing things to reach this point should never have happened. But of course, the banks and other lenders have the whole thing tied up in a neat little package because I don’t believe that it matters to them one bit whether you pay a mortgage or default on it and they take the property and sell it to somebody else.
It’s also interesting to note that Mr Bush’s proposed plan is not going to do squat for people who don’t have great credit. Once again those who need the help the most are the ones that are probably going to be denied it.
There’s something seriously wrong with this.
President Bush offered aid for strapped mortgage holders and outlined proposals to
help borrowers hard hit by credit problems and the housing slump. He also expressed
confidence that the U.S. economy can “weather any turbulence.”
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