Does it bother you that the US senate is taking over the two largest mortgage, loans, and ?
home insurance companies in the United States? Is it possible that this could lead to the policy deciding who gets mortgages, loans, and home insurance? (well, the already do, but does it bother you that it is presently a widely known thing)
Answers:
Well, yes and no.
It bothers me that the manager and administration of these entities were allowed to run them into the ground and stripe their own pockets, and that it had to come to this before any rank of governmental oversight came into play. It bothers me that the consequences will be to common stock holders who merely lost almost everything they had invested in any Freddy Mac or Fanny Mae, and not to the idiots who actually made the bad business decision that got them into the current pickle. It reassures me that the preferred stock owners will be protected for a time, because many of those people are over sea, and the LAST thing the US needs right presently is the image that our biggest financial institutions are unstable and not good investments for foreign brass infusions. Can ou imagine what will happen if the Chinese resolve to pull their money OUT of the US? Yikes? Who do you think we owe those trillions of dollars TO?
I don't point to regulations. Part of a government's legitimate function is to facilitate commerce. It also isn't the first time the government have bailed out someone in private industry.
I am not worried about the system trying to get too deep into my financial business. I don't meditate they have nearly as much control as you imply.
What I see is the administration establishing another very dangerous precedent. If the stockholders, board of directors and other personnel of a company are not doing they job well, they should pay envelope the consequences, whatever those consequences are. Mortgage companies have be so eager to approve mortgages that they didn't stop to actually investigate the income and credit standing of those ancestors that now are in foreclosures. There's not a soul over the face of this earth that will know how to tell me that ALL those people surrounded by foreclosures got into financial problems out of nowhere, they were earn $500. but wanting to live like they earn $1,000. I don't see any reasonable explanation on why the levy payers have to pay the price for the financial irresponsibility of some "show-offs". We don't buy what we cannot afford, it's as simple as that!!
In a small way, yes, I am not sure I want the political affairs making all of those decisions. But, if this is what it take right now to get our cutback back on track-I am all for it.
cut: I have to agree with several of these answers. I own sat and wondered forever how the hell so many of these populace got away with loaning money to risky clients. The ARM loan? Those two things alone are unpromising, but put them together and you have disaster for all involved.
Related Questions:
What would a mortgage lender do within this situation where on earth they THOUGHT they have a verbs loan closing but did not
A new buyer has purchased a condo within our condo association (the "HOA") with a mortgage backed by the FHA. The FHA have a policy that they will not guarantee...
Answers:
Well, yes and no.
It bothers me that the manager and administration of these entities were allowed to run them into the ground and stripe their own pockets, and that it had to come to this before any rank of governmental oversight came into play. It bothers me that the consequences will be to common stock holders who merely lost almost everything they had invested in any Freddy Mac or Fanny Mae, and not to the idiots who actually made the bad business decision that got them into the current pickle. It reassures me that the preferred stock owners will be protected for a time, because many of those people are over sea, and the LAST thing the US needs right presently is the image that our biggest financial institutions are unstable and not good investments for foreign brass infusions. Can ou imagine what will happen if the Chinese resolve to pull their money OUT of the US? Yikes? Who do you think we owe those trillions of dollars TO?
I don't point to regulations. Part of a government's legitimate function is to facilitate commerce. It also isn't the first time the government have bailed out someone in private industry.
I am not worried about the system trying to get too deep into my financial business. I don't meditate they have nearly as much control as you imply.
What I see is the administration establishing another very dangerous precedent. If the stockholders, board of directors and other personnel of a company are not doing they job well, they should pay envelope the consequences, whatever those consequences are. Mortgage companies have be so eager to approve mortgages that they didn't stop to actually investigate the income and credit standing of those ancestors that now are in foreclosures. There's not a soul over the face of this earth that will know how to tell me that ALL those people surrounded by foreclosures got into financial problems out of nowhere, they were earn $500. but wanting to live like they earn $1,000. I don't see any reasonable explanation on why the levy payers have to pay the price for the financial irresponsibility of some "show-offs". We don't buy what we cannot afford, it's as simple as that!!
In a small way, yes, I am not sure I want the political affairs making all of those decisions. But, if this is what it take right now to get our cutback back on track-I am all for it.
cut: I have to agree with several of these answers. I own sat and wondered forever how the hell so many of these populace got away with loaning money to risky clients. The ARM loan? Those two things alone are unpromising, but put them together and you have disaster for all involved.
Related Questions:
What would a mortgage lender do within this situation where on earth they THOUGHT they have a verbs loan closing but did not
A new buyer has purchased a condo within our condo association (the "HOA") with a mortgage backed by the FHA. The FHA have a policy that they will not guarantee...