Rich in the NYTimes with Shiff and PIMCO

[DWCAP]

NY Times just did a good piece about how the bailout will have alot of unintended consequences. It quotes our head pigg Rich and even gives a shout out to the blog itself for predicting the bubble and its burst.

Sounds like there is a few more people out there who will try to get modified if possible than the GOV is willing to admit. Not really a suprise, but I digress.

Oh, read about the guy in LA at the end. I guess we are paying people to stay in their houses now. “Please MR, dont default, our banks cant take any more of their own medicine!”

[pemeliza]

Say it isn’t so Joe also don’t you know wink nod wink

” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.

He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”

[pemeliza]

Say it isn’t so Joe also don’t you know wink nod wink

” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.

He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”

[pemeliza]

Say it isn’t so Joe also don’t you know wink nod wink

” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.

He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”

[pemeliza]

Say it isn’t so Joe also don’t you know wink nod wink

” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.

He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”

[pemeliza]

Say it isn’t so Joe also don’t you know wink nod wink

” The borrower, who lives in suburban Los Angeles, took nearly $200,000 in cash out of his house and then paid less than the monthly interest due on his new loan.

He now owes about $350,000 on a house that is worth only $150,000. He asked not to be identified for fear he would not get a modification, which could reduce his mortgage to $142,500.”

[XBoxBoy]

Buried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.

[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]

And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?

XBoxBoy

[XBoxBoy]

Buried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.

[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]

And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?

XBoxBoy

[XBoxBoy]

Buried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.

[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]

And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?

XBoxBoy

[XBoxBoy]

Buried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.

[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]

And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?

XBoxBoy

[XBoxBoy]

Buried in this article is a quote that so clearly shows why we are screwed. It’s from a bureaucrat named Michael H. Krimminger, who is an advisor on policy at the FDIC.

[quote]“This is not about trying to create fairness, The goal is to keep people in their houses.”[/quote]

And there you have it in a nutshell. Forget fairness folks, let keep people in houses. What is this insanity? Isn’t the whole foundation of our American system supposed to be based on fairness? Have we completely forgotten what makes it possible for us to interact in a society? How can someone in such a position be so incredibly clueless?

XBoxBoy

[cr]

I love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.

I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.

Anyone with a brain realizes that’s not a solution.

[cr]

I love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.

I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.

Anyone with a brain realizes that’s not a solution.

[cr]

I love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.

I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.

Anyone with a brain realizes that’s not a solution.

[cr]

I love now that newspaper sales are way down they decide it’s time to start acknowledging people like Rich in blogville who they laughingly dismissed as chicken little’s and bitter renters just 2 years ago.

I can only hope anyone making comments like Krimminger do so purely for rhetoric, and don’t actually think that will happen.

Anyone with a brain realizes that’s not a solution.

[Author]

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