White House Mortgage Meltdown: Bush Gives Out Wrong Hotline Number

Harried homeowners seeking mortgage relief from a new Bush administration hotline Thursday had to contend with a bit of temporary misdirection from the president himself.

As he announced his plan to ease the mortgage crisis for consumers, President Bush accidentally gave out the wrong phone number for the new "Hope Now Hotline" set up by his administration.

Read more about Bush's mistake here.

Read more about Bush's plan to help hundreds of thousands of troubled homeowners here.

Comments

[mmckinl]

Supply side debt servitude ...

Either pay a mortgage bigger than your house or go bankrupt and get garnished wages for years and years.

[maxy]

Would I have to ask my father if he was angry because I called him? Even though this was a P.R. stunt. Things have never made sense with these people and they never will. I'm surprised of this deja vu. How old are you? This is going to be a real problem for the coming generations. They are not reading Vidal, Mailer, Vonnegut (Funnygut), Kafka, Lawrence, and Dreiser, Dostoevsky, the classics; this is a problem. At the same time Europe is full of literature, chess...As­ia, yoga, buddhism, technology, mathmatics. America, let see??? McMansions, Mcdonalds, tiddy bars......­.Bush.

[curiousasheck]

Don't worry Krispy Kreme is among the Big Movers today.

Up 69 cents at $3.24

[AtomicSplash]

Isn't it funny how the conservatives had six years to put and end to the "Liberal" subprime program and... never... even... tried

ever

[SupremeIdiot]

I simply Looooove my trolls here.

After trumpeting the "ownership society" where everyone will get a chance to have their own home. They dump on the poor ignorant people who were duped by all the hucksters out there with their snake-oil shill.

You are absolutely right that most of the people who fell for the sub-prime mirage were the ones without the intelligence or the knowledge to think the deal through. Which is exactly what the rich bankers counted on. The bankers wrote a bunch of bad loans and then when the note is due, it's the bankers crying and asking for a hand-out. We've already given a HUGE hand-out of billions to the lenders and Bush's deal does little or nothing for those most hurt and unable to dig themselves out of the hole they find themselves in.

A lot of these people will find themselves bankrupt and possibly homeless. I know you trolls don't care about real people but think of it financially. The homeless cost us a fortune in medical bills, city resources and in incarcerating them when they end up resorting to crime.

[kellygrrrl]

Can this idiot even spell his own name?

I think we all know that govt. will bail out the lending institutions, and I think it's pretty obvious that the banks will NOT bail out the borrowers. Typical!

The final phase of the Bush Admin.:
"Suck it, homeowners. Too bad, so sad!"

[MIKEBC]

BUSH AND THE GOP ARE KNOWN THE WORLD OVER AS THE ULTIMATE U.S. DISASTER AND HAS DESTROYED ALMOST EVERYTHING THAT WAS ONCE GREAT ABOUT THIS NATION!

[curiousasheck]

Basically this whole sub prime fiasco was nothing more the the systematic hosing of those who can least afford to be hosed.

[misterbone]

"The subprime program is another liberal mistake which has produced tha ass-opposite of its stated intention; never seen liberalism do otherwise.­"

A wanker called JohnKemp posted this upthread a bit. Is it me, or have the wankers become so Fascist-minded that they even think the credit industry is leftist?

[vippy]

Gives out wrong number - and you trust this man with his finger on the nuke button?
Is there a better word for incompetence?

[curiousasheck]

Like Jimmy Rogers said, the United States is going to be a frightening place to live in during the next decade. And you don’t hear anyone disagreeing.

[getoffmedz]

The "Mortgage Fix" is an informal agreement with no enforcement whatsoever between the administration and some subprime lenders to freeze ARM interest rates until Bush/Cheney gets out of office when the rates will go back up. Five years is only a number and means NOTHING!

Remember this is an informal agreement.

The only people this will benefit are the speculators, read "flippers" who will cut their loses and sell immediately for what they can get. They haven't paid that much to play, anyway. Plus they can write-off their losses.

ARM-mortgaged working families who need their houses often in credit card debt up to their eyeballs are totally and completely fucked.

Why do you think the bankruptcy laws were changed?

[curiousasheck]

Toll Brothers reports $81.8 million loss AP

NEW YORK - Toll Brothers Inc., the nation's largest builder of luxury homes, reported its first quarterly loss in 21 years Thursday as the housing downturn that the company called the worst in four decades deepened.

IT'S CRUNCH TIME FOLKS

[mmckinl]

Bush Plan ?

there's nooo business like show business ...

Dean Baker : Plan won't work ...

"This is leading to seriously misguided policy, since the core problem is falling house prices, not resetting mortgages.­"

I'd like door number 2 pplease !

[ceasenake]

I can't believe there are so many dumb people who would buy a house they can't afford.