Bush's bailing out of the irresponsible Options

[Hartmann]

http://seattletimes.nwsource.com/html/busi...mortgage06.html

Of course this still has to go through Congress where it will get a bunch of crap amended to it and blah, blah, blah.

It is not the government's job to intervene on the free market. If people are irresponsible then there is no reason to change the market to cater to them, hurting others who were prepared.

[impala454]

You guys are sad sometimes. You instantly hate everything I say and don't give it a second thought. It's disappointing considering how smart some of you are.

A. lenders hand out ARM loans.
B. ARM loans are set on an index X.
C. index X is set based on what lenders give out as interest rates.

Do yall need me to connect the dots too?

[Spectatrix]

C. index X is set based on what lenders give out as interest rates [to each other, not consumers]

And the banks involved in determining the indexes are usually IN NO WAY RELATED to your mortgage lender.

You act like the whole banking industry is some Illuminati-esque conspiratorial entity that thrives on forcing their customers into foreclosure.

This post has been edited by Spectatrix: Dec 10 2007, 05:31 PM