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12:34 AM on 02/07/2010
The base fact is the investment of home ownership is not equal to the value of the loans. Home ownership is the single largest investment by the average American. In truth and fact it is the stone that this nations economy is built on, today the bankers and loan holders are not seeing this as a business loan that needs to be refinanced to keep themselves and the people making the payment afloat, they are afraid of the loss to the bottom line of the bank, a bottom line in worse shape then the home owners.
We need to look at the loans, where the money is coming from and if by cutting the principal and interest rate we could not put billions back into the economy monthly and in five years, with a growing economy have an increase again in home prices and interest rate.
Or we can have another ten million homes go empty, settle into a decade that will make the thirties look great and have to have a world war just to cut unemployment and stimulate industry.
12:44 AM on 02/07/2010
They prefer the 10 million homeless. It is part of the algebra of the elites.
Res ipsa loquitur, ergo tace!
01:12 AM on 02/07/2010
Somewhere along the way, lots of these elites have forgotten that the worker is also a consumer.

Kind of hard to become a wealthy shareholder if your holdings can't sell to consumers.
Compassion is the basis of all morality.
10:12 AM on 02/07/2010
I agree everyone needs to take a haircut...the banks have done nothing to help even though we saved their bacon, I am tired of asking. We need cramdown and a way to reduce principal outside of bankruptcy.