A three failed businessman and failed President has a solution to the subprime crisis and finances.. LOL!
From NY Times:
From NY Times:
WASHINGTON, Aug. 30 — President Bush, in his first response to families hit by the subprime mortgage crisis, plans to announce several steps Friday to help Americans who have credit problems meet the rising cost of their housing loans, administration officials said Thursday.
The officials said Mr. Bush would call for the Federal Housing Administration to change its federal mortgage insurance program in a way that would let an additional 80,000 homeowners with spotty credit records sign up, beyond the 160,000 likely to use it this year and next.
The administration is offering his plan, which will include what one official called jawboning of lenders to persuade them not to foreclose on some borrowers, at a time of growing attacks on Mr. Bush from Democrats who say he has remained on the sidelines amid increasing anxiety over whether millions of Americans could end up losing their homes. Other elements of the plan would need legislative action, requiring Mr. Bush to win over the Democratic leadership in Congress.
Administration officials, who asked not to be identified, briefed a handful of news organizations on the proposals to be announced by Mr. Bush at an appearance in the White House Rose Garden on Friday morning.
2 comments:
It's called pick and chose who gets saved. Look at the Katrina victims. Senator Lott and his rich friends got their homes repair with taxpayers money and FEMA let GOP friends get the money. As for the people they got nothing and will not get anything. So this home loan program will go the same way. Vote Republican and you get a little something if not you get nothing. Bush is good with promising people but don't forget he is asking for 50 billion for Iraq not the American people.
What really would help Americans is affordable healthcare, more jobs, less imports, etc. and then they could afford to pay their mortgages.
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