Toxic Assets: Government's New Programs Aim To Buy Buy Banks' Bad Assets, Help Home Buyers

Washington Post:

The Obama administration is close to rolling out two initiatives aimed at addressing lingering problems from the financial crisis: A long-delayed effort to cleanse financial firms of their toxic assets, and a $35 billion plan to prop up state programs that help lower-income borrowers get affordable mortgages.

Read the whole story: Washington Post

Comments

[dnpvd51]

DISHONEST HEADLINE ALERT!!!!!­!!!!!!!!!!

Higher prices do not help homebuyers, and easier credit terms create higher prices.

This program helps homeowners.

[RJII]

sounds like this program will mainly help people buy the homes that were foreclosed on others for cheap. I hope the best for all involved.

jobs, jobs, jobs

[RJII]

jobs, jobs, jobs

But since congress has well paid jobs, kickbacks and great govt funded healthcare, what's the rush?

[thePOlitkalkos]

Where is the change, Obama? Where is the REFORM?

Job loss equates to home loss No jobs, no recovery. Why so many people out of work even with the stimulus spending? Why are more jobs still being shipped overseas? There is no such thing as a jobless recovery; that is n3ocon jargon.

good articles..­. http://www.iamned.com

[UnionJok]

Hey isn't that the Bundeshaus in Switzerland?

[ThoughtAboutIt]

STOP artificially propping up the housing market. American citizens (via Fannie/Freddie & FHA) already hold or guarantee > $5 TRILLION dollars of mortgages. That's obscene.

If new jobs are hard to create we need higher turnover of EXISTING jobs. People cannot afford to retire so concentrate on that. How about tax incentives for building affordable retirement communities and credits for those retiring with bonuses for replacing them (or some other job in their former organizations) with qualified unemployed workers.

Stimulate JOBS by stimulating retirement and providing incentives for hiring the unemployed.

[BorseGermany]

The disconnect between the problems facing main street and Washington keep widening. For the past year we've heard nothing but talk of regulation, but zero action. What a joke.

good articles..­. http://www.iamned.com

meanwhile, the stock market is surging and everyone is too busy to counting their money to show any initiative

[sheilaofmiami]

"meanwhile, the stock market is surging and everyone is too busy to counting their money to show any initiative"

Not everyone, everyone who has been counting their money since Regan, the poor have nothing to count.....­.....

[chocolatecity]

I like the housing plan. The state home buyer assistance programs work well and offer good terms.

[Cryostatic]

Some friends of mine bought a house within their means. They had a baby and taxes went up $400 in the same year, now they struggle to meet mortgage. They don't qualify for mortgage modification because they "don't make enough money". If they made more money, they wouldn't need a damned modification. The system and it's programs are broken.