Frank Smith Says NB: Fund a mission to Mars, not a mortgage bailout

Thursday, February 19, 2009

Fund a mission to Mars, not a mortgage bailout

Patrick Thibodeau
Fund a mission to Mars, not a mortgage bailout

3 comments:

Anonymous said...: There are many unanswered questions that remain about the Mortgage Bailout - Why should we reward Fannie Mae and Freddie Mac with $200 billion in taxpayer dollars without first reforming these housing entities that were at the heart of the economic meltdown?

This entire crisis was brought on by the Community Reinvestment Act, where millions of people who could not qualify for a standard mortgage at market rates got a subprime one backed by the federal government through Fannie Mae and Freddie Mac.

This created an artificial demand that drove up housing prices. When the subprime mortgage rates jumped from the teaser rates to the "real" rate after a few years, it sunk the unqualified homeowner, and the wave of foreclosures began, leading us to where we are today.

A Socialist program got us into this mess and the Republicans are right to position themselves as responsible adults. Getting these questions answered and shuttering Fannie Mae and Freddie Mac would be a good start on Mortgage Bailout message.; February 19, 2009 at 4:48 PM
Anonymous said...: If we send a mission to Mars, can we send Phil Sherwood on that mission. Tell him he is needed to start the communist party on that planet.; February 19, 2009 at 6:04 PM
Anonymous said...: Maybe Sherwood should take the NY Times with him to Mars. According to Bill O'Reilly, it is cheaper to buy a share of Times stock than it is to buy a copy of their Sunday paper. Nobody seems to want a liberal propaganda sheet like the Times, so they are in financial ruin, while the NY Post and the NY Daily News, 2 more conservative publications, both seem to be profitable.; February 19, 2009 at 8:54 PM

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