I was reading that Mr. Paulson have requested the second 350 billion dollar TARP money, I urge the legislator body, Congress and Senate to use all powers NOT to give these incompetent people a penny unless they’ll fully comply with Mr. Bernie Frank legislation which he is in the midst of drafting i.e. HELPING to curb Foreclosures.
“Frank said the legislation will include FDIC Chairman Sheila Bair’s foreclosure-prevention plan, which provides a U.S. guarantee for troubled mortgages to spur loan modifications.
FDIC Program
Paulson has declined to adopt the proposal, while Bair has said the law enacted in October gives the Treasury authority to fund a plan she said might prevent 1.5 million foreclosures through next year at a cost of $24 billion. U.S. foreclosure filings climbed 28 percent in November from a year earlier, data provider RealtyTrac Inc. said Dec. 11.”
For the last 18 months, calls for help were turned numb by the Bush administration, this is the core of the down turn, if this 350 Billion TARP money will be channeled to stop foreclosures, the criminal Wall Street bankers who took the first half of the TARP money and did absolutely nothing!!! rather than to shore up their balance sheets, cover their loses, (this money actually helped them better hide the loses) and completely stop lending, must be prosecuted and go to jail.
Comments are closed for this post.
