Fannie And Freddie Bailout.

[Seth]

It's easy to see why so many people are going broke and all of that stuff. Half of my friends drive around new trucks, bought a house, and piss away all sorts of money. How they are making it, I'll never know. One of my friends just bought a house, but paid off all other loans before hand, and I KNOW he can afford everything the right way and doesn't have to worry about foreclosing and all of that.

I'm paying off what loans I do have before getting serious about purchasing a house. Hopefully if I do that, then even if the economy goes way down hill, I'll still be able to keep my head above water during tough times.

[bigredbirdfan]

How about those people who borrowed more money than the house was worth to pay off their credit cards promising the bank they will fix up their houses?

There are many houses for sale here in Springfield that will remain for sale because the banks have too much invested and nobody will pay the asking price for them.

[bigredbirdfan]

It looks like Congress failed to reform this because their pockets were being lined by money from Fannie Mae and Freddie Mac.

Lots of money was flowing into the ACORN project in Obama's Chicago. Lots of money into Charlie Rangle's harlem district. Money Greed and failed oversight and regulation by Congress not the executive branch. 90% of mortages and no darn oversight. Bend over taxpayer.