Posted: Sep 25, 2008, 7:58 AM CST
Well, I agree ARM was just a license to steal from the people who
took these on. And it is understandable that republicans and
democrates on the wealthy side favored it as a means to making
a quick dollar. But now the government wants to bail out these
loans with money from the people who knew better than to buy
these loans, is WRONG. The banks I believe need to write off
the losses and take the hit. They still own the homes so make
them auction them off to find out what the true value of the homes
really is. This may help lower property taxes. Yet, today there is
still developers building $400,000 homes. So I wonder if this
bailout plan is just a smoke job to screw people out of there money.
700 billion and how it happened.: click here to read the entire thread »