“…Losses of $55 billion just on mortgage servicing. In just the 4 biggest banks. Sounds promising, doesn’t it? But they’ll survive, no matter what their losses. Too big to fail and all that.
Sorry, Joe Blow, but the peace prize winner deems it necessary that you, who can’t afford a home anymore or get a loan to buy one, fork over for those who can.”
If this meme makes it onto the street in any kind of a big way he is toast.
“…Supporting homeowners is of course not a bad thing in itself, But if you pay attention, you can see that’s not what the government is doing. It’s supporting the banks on Tim Geithner’s speed-dial instead, under the guise of homeowner support, and all the losses will be transferred to you, while most owners will lose their property and/or equity regardless.”
