As CNBC Reported on January 23 (http://www.cnbc.com/id/46106075/Regulator_Fannie_Freddie_Writedowns_To_Cost_Taxpayers_Billions)
“The Obama administration wants to
secure widespread principle reductions in a legal
settlement between the government and some of the biggest mortgage servicers
that is aimed at cleaning up alleged foreclosure abuses.”
In other words, Obama will simply reduce the prices for buyers who made bad decisions to purchase outrageously inflated homes. Isn’t that swell?!
So Mr. President, how much will this “grand bargain” cost?
According to Bloomberg, the cost would be $100 BILLION!
Of course, that “bailout” money would be paid by us taxpayers. You know, the responsible 50 percent of the population that actually PAYS income tax!
Mr. President, let’s see if I have this right. I didn’t buy I house, because I couldn’t afford one. Instead, I lived (and still) in a small condo that I rent.
But now, I get to make the house payments for my neighbor, so they can live in a massion, that they couldn’t afford.
Well that sure does seem fair, doesn’t it?
Of course, Mr. Obama can’t be worried about such matters. He has an election to buy.