Federal Reserve Chairman Ben Bernanke said Wednesday that the embattled housing market has crippled the economy, and at-risk homeowners need a bailout – even if they knew they couldn’t afford their home in the first place.
“Some borrowers presumably knew what they were getting into,” Bernanke said before the House Financial Services Committee. “But from a [...]
There was a documentary released in 2006 called Who Killed the Electric Car?. This movie really provides detailed information about the the auto industry and possibly why the big three auto makers are in their current financial mess. They have the technology and the ability to produce these electric cars at affordable prices, [...]
The bailouts is just another way for the government to steal from the citizens. It causes nothing but more problems for the economy. People who have homes in foreclosure are trying to work with the banks to help their situation, either by refinancing or some other means. However, since the banks have [...]
The Department of Energy was instituted 08-04-1977 In order to LESSEN our dependence on foreign oil.
And now it’s 2009, over 31 years later, and the budget for this necessary department is at $24.2 billion a year, they have 16,000 federal employees, and approximately 100,000 contract employees and look at the job they have done! [...]
Here’s the first of many signs that show that the bailouts are not working: More than half of delinquent homeowners whose mortgages were modified earlier this year ended up re defaulting within six months.
Some 53% of borrowers with loans modified in the first three months of 2008 and 51% of those with loans modified [...]
As if the recent $8 Trillion in bailouts is not enough to screw over the American people, the Treasury Department has the gall to consider a lobbied plan that would systematically have mortgage rates reduced to 4.5% or lower. ARE THEY INSANE???
Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed [...]