It was Sunday afternoon, and I was driving home from a child's birthday party. As I turned the corner by Chase Bank, here was a group of people protesting the way the bailout has gone. If you subscribe to my blog, you know that I opposed the bill that authorized more than $700 Billion dollars to "rescue" the economy. Nothing in that bill required the banks who got the money to put it back in circulation. The result is that while 2,500 mortgage holders (families, investors, speculators--the lot) are being foreclosed each week, the "rescue" money is being used by the banks to gobble each other up. What a wasted opportunity at your expense, IMHO.
I spoke with the protestors, and none of them own homes that are in foreclosure, so I can't give you a clear motive for the protest. It didn't make the evening news, so you're seeing it here first.
I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.
Think of me as your Tucson mortgage expert.
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