Jon Stewart tells you why you shouldn't watch CNBC....
... and should just read this blog instead.
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3 comments:
Canada is blocked out, but you can see it on the comedy network:
http://www.thecomedynetwork.ca/shows/showdetails.aspx?sid=3350
thanks rick.
The mortgage bailouts are the biggest bailouts of banks of all. If the houses had any equity in them, they wouldn't be forclosure candidates. The whole bailout of mortgages is a fraud. The recently proposed FNM refinances I don't believe cover anyone. At least on FNM mortgages, mainly because of two factors. One is if the mortgage was an ARM, the rate will be low this year and likely not have put the owner in the income hole indicated. Second, the qualification ratios of normal FNM high LTV loans was never over 33/38 and quite likely 28/36. They proposes to cut the payment percentage to 38% and then do something to get it to 31%. What this means is they are bailing out the FNM subprime stuff they bought and covering Barney Frank, Barach Obama and other Democrats tracks in this matter. The game is over and it is about to collapse. This isnt' a class warfare thing, it is teh people that didn't participate subsidizing the people that got in over their heads and the banks. For those that bought well within their means, they are stuck if their house is under water. Only the gamblers and their gambling lenders get any help
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