700 billion to big banks, nothing for those who lost their homes?
September 20, 2008 8:41 pm Canadian PoliticsBush wants to give $700 billion to the big banks for their greedy, unwise decision to invest in the volatile sub prime housing market without doing due diligence. What is he doing for the people who lost their homes, whose only dream was to own a home. So being rich in US simply means you can not go wrong and being poor in US being you are hedging bigger to put a roof over your head.
Welcome to the world’s greatest democracy.
wilson :
Date: September 20, 2008 @ 11:43 pm
I think many had zero down and were very risky clients to start with
and simply walked (homes weren’t repossessed, homes were abandoned my Realtor buddy in the US said) and left the banks high and dry.
The majority are still paying their mortgages.
Vijay :
Date: September 20, 2008 @ 11:49 pm
They walked away with bad credit that they have tolive with for many years and they had all paid their monthly mortgage for some years at least. All that money is gone. To those live on the edge, that is a lot of money that will take them lot of time to earn.