# class warfare?



## hunter9494 (Jan 21, 2007)

yep, obammy wants to reward the poor people with Freddie or Fannie mortgages and forgive their debt! he's gambling that those offended, who paid their bills and stand to get nothing, will be out numbered by the rest who stand in line for the biggest handout ever..........wow, this is some **** right here... :bop: :bop:

August Surprise

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages - one in five - are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama's loan modification effort. HARP was just extended through June 30, 2011.

The move, if it happens, would be a stunning political and economic bombshell less than 100 days before a midterm election in which Democrats are currently expected to suffer massive, if not historic losses. The key date to watch is August 17 when the Treasury Department holds a much-hyped meeting on the future of Fannie and Freddie. A few key points:

1) Republican leaders believe this is going to happen since GOPers and Democratic moderates in the Senate are unwilling to spend more taxpayer money on more stimulus. But such a housing plan would allow the White House to sidestep congressional objections and show voters it is doing something tangible about an economy that seems to be weakening.

2) Wall Street banks are alerting their clients privately to this possibility. Here is what some are cautiously saying publicly. This from Goldman Sachs:

GSE policies are one of a dwindling number of policy levers the administration has left to pull, so it is conceivable that changes could be made, though there is no sign that a policy change is imminent. The Treasury's essentially unlimited ability to provide financial support to the GSEs creates an interesting situation over the next twelve months: the GSEs could potentially be used to provide additional support for the housing market and, to a lesser extent, the broader economy in 2H 2001.


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## Chuck Smith (Feb 22, 2005)

If this happens it will show you that the original bail out was CRAP!...and that is the nicest I can put it. It will show you all of the stuff passed was BS.

Hunter...do you have a source for this? I would like to know.


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## hunter9494 (Jan 21, 2007)

fox news...i suspect you can just google "august surprise"


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## Plainsman (Jul 30, 2003)

Yes, I read about it also. I guess he wants to reward the losers who are to stupid to understand what they can afford, and perhaps made no down payment. 
The other thing is he may succeed in buying votes from those looking for the free lunch again. He can let this ride until after the election and the parasites will vote in droves for the democrats. After the election they can just forget about it. If the free lunch fools sell the nation out for a couple of thousand each they better be ready for a revolt. There will be state recalls.

Speaking of recalls I understand that there is a petition to recall Conrad in North Dakota. I suppose he voted for Kagan. Call him back and dump him along with Pomeroy.


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## TK33 (Aug 12, 2008)

Who would you replace Conrad or Pomeroy with? Please don't say Rick Berg. I still cannot believe that ND Republicans nominated him. He is no better than what we have now, in fact he is probably worse. Cramer or Schaffner would have been ten fold better than him. As much as I want to see everyone in DC get tossed, Berg is a proven special interest driven greedy hack. Hoeven should be a shoe in I would think. It also sounds like Bayh's replacement will be a republican also.


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## Plainsman (Jul 30, 2003)

> Who would you replace Conrad or Pomeroy with?


Any semi-intelligent third grader.


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## TK33 (Aug 12, 2008)

I'd prefer someone who will not bend over to special interests, not screw over working class people, and maybe not sell out ND sportsmen. Pretty much rules out Berg.

That is way too much to ask apparently. We are definetely picking the lesser of two evils.....again.


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