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[Zev Mo Bloggin'] Crooks and Liars » John McCain’s Top 10 Out-of-Touch Moments: Irresponsible, undeserving homeowners. In his widely panned March 25th address on the economy, John McCain essentially blamed American homeowners teetering on the brink of foreclosure for their plight, insisting “any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren’t.” Facing a backlash, McCain just two weeks later on April 11 rolled out new proposals, claiming his “priority number one is to keep well meaning, deserving home owners who are facing foreclosure in their homes.” As the New York Times concluded:
[Crooks and Liars] John McCain’s Top 10 Out-of-Touch Moments: The American electorate seem vastly amused at these shortfalls, but people from the rest of the world ask “Is this the best out of 300 million people that the Republican party can nominate for themselves? After the Bush fiasco, you’d think they would be more careful, so clearly they deserve to have their country implode”.
[US Treasury - Press Releases - Taxes] Paulson Remarks on the Economic Stimulus: I have just come from one of Treasury's bureaus here, the Financial Management Service Regional Financial Center, where they are printing the economic stimulus checks that will put money in the hands of American families and boost our economy this year. It's fitting that I see this economic stimulus become a reality in Kansas City, because my visit here last December was among the events that convinced me that we needed to boost the U.S. economy, and do it early so it could make a difference in 2008.
[Forex Peace Army Forum] Economic Stimulus Package: It's fitting that I see this economic stimulus become a reality in Kansas City, because my visit here last December was among the events that convinced me that we needed to boost the U.S. economy, and do it early so it could make a difference in 2008. In December, I was at the Bruce Watkins Cultural Heritage Center and Museum for a town hall meeting.
[money blog] You Can Kiss $2.84 Trillion in Housing Equity Goodbye: The ...: As you can see from the chart, the peak was reached in July of 2006 for the 20 composite index. The next step we’ll look at is from the Federal Flow of Funds Account which looks to show real estate peaking at least in value in the third quarter of 2007:
[Philosophy Forum] Article: Hard numbers: The economy is worse than you know: To acknowledge it would send interest rates climbing, and thereby would endanger the viability of the massive buildup of public and private debt (from less than $11-trillion in 1987 to $49-trillion last year) that props up the American economy. Moreover, the rising cost of pensions, benefits, borrowing, and interest payments — all indexed or related to inflation — could join with the cost of financial bailouts to overwhelm the federal budget.
[Real Estate News Review] Harried homeowners seek out help: The state’s Foreclosure Prevention and Asset Preservation Program offers in-depth counseling to households that do not qualify under other refinancing options, spokesman Chris Donnelly says. And this month, he adds, a mortgage assistance program will debut for homeowners who work with the state-trained counselors and need “catch-up”
[Penny Stocks: Penny Stock Picks and Talk at The Penny Stock Blog Forums] Economic Stimulus Package: It's fitting that I see this economic stimulus become a reality in Kansas City, because my visit here last December was among the events that convinced me that we needed to boost the U.S. economy, and do it early so it could make a difference in 2008. In December, I was at the Bruce Watkins Cultural Heritage Center and Museum for a town hall meeting.
[The Housing Bubble Blog] Something Is Going To Have To Give In California: “‘I think everyone was feeling like they were living the American dream,’ he said, adding that many homeowners who actually understood loan terms thought they could refinance or sell within the first couple years to avoid skyrocketing payments.”
[News Dissector Blog] May Day On The Waterfront: Workers Set An Example Protesting The War: ӬIt was was against this backdrop that a number of AHRC editors traveled to Washington on April 23 and 24 to seek the assistance of Congress for the 60 million Americans who now live in homeowner associations. In addition, they sought the help of Congress to stave off the taking of the AHRC.com domain name by the law firm of Peters and Freedman, who represent more than 700 homeowner associations in Southern California.
[Dr. Housing Bubble Blog] Foreclosed: Predicting Foreclosures in California. How Many Homes ...: “On primary mortgages, California homeowners were a median five months behind on their payments when the lender started the default process. The borrowers owed a median $11,474 on a median $346,750 mortgage.”
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