We won’t extend unemployment benefits but we will
Extend mortgage lifelines for a few of our closest buddies in the bizz baby.
The participants are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co. All six are involved in Hope Now, an effort the Bush administration brokered with the mortgage industry late last year to freeze rates on some high-cost subprime mortgages for five years to aid borrowers whose teaser rates are jumping sharply higher. Since then, Treasury Secretary Henry Paulson has urged lenders to expand that effort to cover struggling homeowners with conventional mortgages.
Simply amazing. Didn’t Bush call McCain a real conservative?
Tags: Bush
yo dv, i’m confused as usual. r u for this program or against it?
No wonder these people believe that government doesn’t work — they don’t have a clue what government is supposed to do.
Liberals think government is supposed to provide security and protection to the people, from economic or health disaster, not the just the terrists. Conservatives think government is supposed to rob the people and give the money to the rich. That kind of government works in third world countries but it’s not supposed to work here.
Sheesh almighty!
schmukski,
i was for it before I was against it
These same banks commented today they MAY voluntarily lower rates on SOME consumer credit cards. What a joke, they have us infront of the firing squad and they MAY let us smoke one last cigarette, provided the goverment bails them out. I sure of one thing, the banks are sure we are morons.