California, one of our most liberal states, wants a piece of the pie —RINO governor.

Makes me almost wish Gray Davis could have completed his 2nd term

It’s pretty absurd to hear Bush talk about ‘free market’ forces. This is the guy who couldn’t spend less than 3 trillion dollars a year on a budget. This is the guy who wanted to expand entitlements to illegals, give drug companies a boondoggle under the guise of ‘medicare prescription drug benefit’, and spent a half a trillion on a war that should have been fought, finished and won on less than 50 billion.

No, this man Bush doesn’t know the meaning of fiscal restraint. He only knows that the US government can print money if it wants. Our grandchildren will have to pick up the tab. . . so who cares?

ThackerAgency on November 14, 2008 at 11:18 AM

Throw in 12-year Republican control of Congress, and you have the reason why we’re looking at an Obama administration. Given a choice between Democrats and Democrats Lite, the Democrats will win.

Just saw on Drudge that the mayors of Philadelphia, Atlanta and Phoenix are all asking for bailout help. All three are Democrats. Chicago is anticipating massive layoffs of city workers — Mayor Daley; Democrat. Detroit is a basket case –Democrat. California, one of our most liberal states, wants a piece of the pie —RINO governor.

I think I see a trend here…..

Star20 on November 14, 2008 at 12:09 PM

I’m going to LOVE watching these Dems squirm as they try to somehow pin this on Bush and the Republicans.

The borrowing costs for the U.S. government are about as low as they have been since the 1960’s. As rates for LIBOR and corporate bonds have increased this year investors have piled their money into U.S. Treasuries. The government can borrow money now at unusually cheap rates and repay the debt when the price of the bonds sink.

dedalus on November 14, 2008 at 11:48 AM

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I think we can agree that rates are currently at bottom but are trending up — kind of like a teaser ARM. Who bails out the US Treasury when the rates quadruple from 1.5% to 6%, but there’s no room in the budget to pay extra debt service? It only makes sense if short term stimulus is coupled with long-term commitments to over-balance budgets and pay down debt with surplus, that would provide Change AND Hope.

I’ll keep looking. Surely letting the government run businesses is the best thing to do! It’s what the people want! /sarc off

Eligible borrowers would include those who have missed at least two monthly payments on loans for homes they live in. Servicers would be expected to lower those borrowers’ monthly payments to about 31 percent of the borrowers’ monthly income.”
Link

So if your mortgage payment is more than 31% of your income STOP payment on the mortgage! You can now get a better deal.

Wonder how this will this effect housing prices? Drive them lower?
And wouldn’t the lender just lengthen the number of years payments are made or readjust the mortgage rate at a later date (higher) to make up the difference in the lower montly mortgage payment?

1930 is more like it….but with inflation instead of deflation, because the Idiot-in-Chief will be printing money until the gaskets blow.

This is gonna end in a war.

God help us all.

They have not regulated or changed a single thing in the flawed system that brought this on.

Subprime loans and NINJA loans are STILL out there… I just got a no Soc Sec Number needed loan Ad YESTERDAY!

“Now that the crisis is here, there is a sudden frantic effort to visualize its implications. … Government and
business seem equally unsure.”

“‘Our clients just don’t know what’s going to happen. We’ve never seen anything like it before.’”

All from 1973

I’ll start crying when my misery index gets over 22%

I think I see a trend here…..

When Europe and the Libor bump up, the US budget is in BIG trouble (and why shouldn’t lenders be bidding up the cost of capital, the US government is scarfing up so much it’s becoming scarce).

Mark30339 on November 14, 2008 at 11:29 AM

The borrowing costs for the U.S. government are about as low as they have been since the 1960′s. As rates for LIBOR and corporate bonds have increased this year investors have piled their money into U.S. Treasuries. The government can borrow money now at unusually cheap rates and repay the debt when the price of the bonds sink.

Can somebody PLEASE tell me why Christoper Dodd still has a job???

rockmom on November 14, 2008 at 11:36 AM

Because the people of CT are liberal morons. Duh!

Meanwhile….I’m Still waiting for my mortgage to be paid and my free gas!

Scorched_Earth on November 14, 2008 at 11:31 AM

Free houses and gas are, respectively, items 154 and 162 on all the things that Obama is going to do immediately on January 20th 2009 between the time he takes office and the time he has to go out for the inaugural balls. They would have had a higher place on the list but stopping global warming, curing cancer, and bringing about world peace all have a higher priority and, after all, if God had to rest after creating the world Obama should be allowed some slack!