Mortgage Bail Out is a Transparent Ploy

It is not even an election year, and I’m SICK of the rhetoric and debates. Suggesting a government bail out of the people facing foreclosure is an irrational response. It sounds like more schmooze to ensure votes and campaign contributions. A government bail out is more transparent than the mortgage problem and fiscally irresponsible.

Many of the borrowers had zero equity because they made no down payments. A bail out for the foreclosed borrower actually translates to bailing out mortgage insurance companies, lenders, underwriting companies, bonds and securities rating companies, investment companies, and investors.

Where was government supervision and consumer protection when unsuitable mortgage products were offered to unqualified borrowers? Where were the Federal Reserve Bank, Office of the Comptroller of the Currency, and Securities and Exchange Commission (to name a few)?

One thought on “Mortgage Bail Out is a Transparent Ploy

  1. Hillary Clinton was quick to talk of bailouts for a $10 trillion industry. That suggests to me that Hillary Clinton either has no idea about the gravity of the situation, or she plans to spend money like George W. Bush, or she wants to help business interests that will support her – with little or no sincere regard for real people. When she and Bill were in the White House there was no effort to control the problem. In fact the problems really began around 1994.

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