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    On the Bailout, Part 24: Rewarding the wrong people at taxpayer expense

    I found this via TDAXP:

    Have you been paying your mortgage? Then it sucks to be you

    Read it and the discussion and be pissed off like me:

    GRRRR!!!!! How about for $400, me and a few buddies rough them up and shove a copy of Personal Finance for Dummies up there….well I digress.

    The essentials: USGOV will pay each financier $800 to reduce interest, interest rates, and required monthly payments for people who are missing payments on the mortgages for the houses they speculated on and can no longer afford to get them down to where their monthly payment is less then 38% of gross incomes

    Note: The personal finance rule of thumb is 30%

    So who are the losers on this?

    Do you have a mortgage you pay every month? Or were you saving up to make a big down payment.

    Then you made the wrong decision.

    Hey if anybody out there still wonders why I think USGOV interference in the economy is mostly is bad thing, it is because of shit like this.

    2 Responses

    1. Socialism for the rich, the greedy and privileged…. What else is new?
      I wonder when “The Donald” will come to the Feds with hat in hand.
      I hear his empire is starting to find it hard sledding….

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