Patrick.net

Regulator says no to Obama mortgage write-down plan

By Call it Crazy   Follow   Tue, 31 Jul 2012, 3:10pm   919 views   8 comments
Watch (0)   Share   Quote   Permalink   Like   Dislike (2)  

http://www.reuters.com/article/2012/07/31/us-usa-housing-regulator-idUSBRE86U19920120731

"The regulator for government-run housing finance giants Fannie Mae and Freddie Mac said on Tuesday that using taxpayer-funded bank bailout money could encourage defaults and not make a big improvement in reducing foreclosures in a cost-effective way for taxpayers."

"The anticipated benefits do not outweigh the costs and risks," said the Federal Housing Finance Agency's head Edward DeMarco, who has come under intense pressure from the government to agree to the plan.

Viewing Comments 1-8 of 8     Last »     See most liked comments

1. StillLooking Follow Befriend 27 threads 233 comments Skokie, IL

   1   4:29pm Tue 31 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   This is all making me sorely tempted to vote for Romney and I have always been a Democrat. I don't see how anybody could be worse than Obama on housing policy.

2. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   2   4:36pm Tue 31 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Clearly, anyone who HELOCed out hundred of thousands of $ and blew it on european vacations deserves a principal writedown!

3. robertoaribas Follow Befriend (23) 55 threads 3,836 comments Scottsdale, AZ robertoaribas's website

   3   4:43pm Tue 31 Jul 2012   Share   Quote   Permalink   Like   Dislike   StillLooking says This is all making me sorely tempted to vote for Romney and I have always been a Democrat. I don't see how anybody could be worse than Obama on housing policy. or you could grow up, and not expect the government to support one asset class price over another. For example, I suppose you want a president to A. help housing, B. keep oil cheap. I'm curious what the president should do with the price of cotton, and beer?

4. StillLooking Follow Befriend 27 threads 233 comments Skokie, IL

   4   4:46pm Tue 31 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   StillLooking says This is all making me sorely tempted to vote for Romney and I have always been a Democrat. I don't see how anybody could be worse than Obama on housing policy. or you could grow up, and not expect the government to support one asset class price over another. For example, I suppose you want a president to A. help housing, B. keep oil cheap. I'm curious what the president should do with the price of cotton, and beer? How can Obama manipulate the price of housing anymore than he has already? ANd I am not sure what you mean as I certainly want the government out of the housing market.

5. BobMSN Follow Befriend 3 threads 98 comments

   5   12:04pm Tue 25 Sep 2012   Share   Quote   Permalink   Like (1)   Dislike   Obama would do anything to "buy" votes so he can squat the WH.

6. bmwman91 Follow Befriend (7) 37 threads 1,541 comments Mountain View, CA bmwman91's website Premium

   6   12:07pm Tue 25 Sep 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   If anyone things that either Democrats OR Republicans will do anything that would lower housing prices, you are kidding yourself. There are far more people and organizations invested in high house prices/values than there are wanting lower ones. Romney may say things about eliminating the MID and reducing FHA loans, but it will never get through the labyrinthine mix of lobbyists & congress.

7. StoutFiles Follow Befriend (1) 24 threads 557 comments

   7   12:15pm Tue 25 Sep 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says or you could grow up, and not expect the government to support one asset class price over another. For example, I suppose you want a president to A. help housing, B. keep oil cheap. I want a president that'll let housing level itself out, at whatever price range supply and demand dictates. Just because some people bought houses at ridiculous prices dones't mean we need the inflate the bubble again to save them. It's time for people to stop throwing their future into housing.

8. CaptainShuddup Follow Befriend (1) 250 threads 4,758 comments

   8   1:37pm Tue 25 Sep 2012   Share   Quote   Permalink   Like   Dislike (1)   robertoaribas says or you could grow up, and not expect the government to support one asset class price over another. For example, I suppose you want a president to A. help housing, B. keep oil cheap. I'm curious what the president should do with the price of cotton, and beer? Well I don't want them helping the Money class while trying to create more Welfare recipients out of the middle class. A president that has middle class job destruction on his watch while he champions more minimum wage jobs. Is a failure by any definition. Whether he actively has a hand in the outcomes, or just sitting back blissfully watching. In spite of what you Obama apologists claim, YES the president is responsible for ALL policy that effects the quality of life on his watch. Whether it is his own doing or the results of the Clowns he allows to run amok with the FED.