Home › Forums › Financial Markets/Economics › The Bail outs by the numbers………
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CA renter.
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January 21, 2013 at 5:57 PM #20480January 21, 2013 at 8:30 PM #758200
paramount
ParticipantThese unprecedented QE measures began when the feds realized the coincident indicators went recessionary around July 2012.
January 22, 2013 at 8:08 AM #758218SD Realtor
ParticipantIn 2008 we had an approximate total mortgage debt of 11 trillion.
So instead of making Wall St richer we could have taken a few trillion of those dollars and simply payed off a large percentage of those homes. A simple program that would have perhaps identified owner occupants with incomes under say 100k could have had their entire mortgage paid off. Then payoff a smaller amount for some higher incomes. Well I guess it was better to bailout Wall St and keep the majority of the population in debt.
January 23, 2013 at 12:11 AM #758285CA renter
Participant[quote=SD Realtor]In 2008 we had an approximate total mortgage debt of 11 trillion.
So instead of making Wall St richer we could have taken a few trillion of those dollars and simply payed off a large percentage of those homes. A simple program that would have perhaps identified owner occupants with incomes under say 100k could have had their entire mortgage paid off. Then payoff a smaller amount for some higher incomes. Well I guess it was better to bailout Wall St and keep the majority of the population in debt.[/quote]
Instead of favoring home debtors who were irresponsible, we could have given everybody (including renters) a certain amount, instead. Or, we could have let the lenders and borrowers who caused the bubble sort it out themselves, and not used the GSEs and FHA (or any other entities/methods) to bail out the private market.
January 23, 2013 at 8:25 AM #758292SD Realtor
ParticipantThis is true. I have no problem with that method either. Of course we were told that the bailouts were a must. The theme just recurred with the fiscal “cliff”.
Good thing we have all these people looking out for us. Funny how the rich seem to benefit from each of these moves while the general public just gets deeper into debt.
January 24, 2013 at 12:31 AM #758402CA renter
ParticipantWe’re 100% in agreement on this, SDR.
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