Hmmm . . . Obama signed a measure allowing mortgage companies and banks to restructure loans for millions of American families facing foreclosure. This is like bandaid that won't stick to the wound! What good is this going to do?
I am so bumfuddled as to the lack of common knowledge of cause and effect within our government. Are they really this stupid?
Why? Why are MOST American's facing foreclosure today?
I keep hearing that people shouldn't have applied for mortgages they couldn't afford. Okay. But that is just the scum on the top of the pond of problems. Most people who lose their jobs can't afford ANY mortgage. How many of those people had income before they had a job? Is anyone paying attention?
How many of our jobs have gone over seas? How many manufacturing jobs? How many food processing plants? How many clothing and textile mills got handed over to foreign countries?
The people who fell for the "adjustable mortgage" play were fractional in comparison to those who are losing their homes. Banks got the bailout money, taxpayers got the shaft. We are still getting the shaft.
Maybe we can all get jobs in the Environmental Protection Agency, the unions or the military, because after the bailouts and the payoffs, there will be no other private sector jobs . . . unless you want to start investing in real estate in Taiwan.
I don't see the rescue package doing much good unless we can somehow materialize some 13 million jobs back to the U.S. of A.