Wednesday, February 18, 2009
Obama's Mortgage Plan: Do They Think We Can't Multiply?!
Folks, it's no fun being a critic of the government when they do stuff like this. C'mon people, you need to wake up and start asking questions, so that I can turn up the investigative reporting. In the meantime, I am reduced to pointing out the absurdities of this CNBC article:
So do I need to spell it out? I didn't realize postage (for the government checks) was so expensive these days.
President Obama unveiled his much-anticipated plan Wednesday to fight the housing crisis, pledging up to $275 billion to help stem a wave of foreclosures sweeping the country....
A total of 8.1 million U.S. homes, or 16 percent of all households with mortgages, could fall into foreclosure by 2012, according to a report by Credit Suisse....
An Obama administration official said the total plan commits up to $275 billion for housing, including $50 billion from funds already committed in the country's financial sector bailout. It aims to help up to 9 million American families.
...
The Obama administration's summary of the plan said the plan could offer a buffer of up to $6,000 against value declines on the average home.
So do I need to spell it out? I didn't realize postage (for the government checks) was so expensive these days.
Comments:
The Blackadder Says:
Eighty percent has to go to administrative costs, obviously.
Eighty percent has to go to administrative costs, obviously.
# posted by 
: February 18, 2009 at 11:26 AM
: February 18, 2009 at 11:26 AM
The Blackadder Says:
Are we sure the CNBC figure isn't a typo? AP says the plan is for $75 billion, not $275 billion.
Are we sure the CNBC figure isn't a typo? AP says the plan is for $75 billion, not $275 billion.
# posted by : February 18, 2009 at 11:46 AM
: February 18, 2009 at 11:46 AM
Reuters says the same.
http://uk.reuters.com/article/marketsNewsUS/idUKWAT01099720090218
(sorry, still don't know how to do linking in html)
It's the new Obamathematics. Not the old-fashioned mathematics....
JR
http://uk.reuters.com/article/marketsNewsUS/idUKWAT01099720090218
(sorry, still don't know how to do linking in html)
It's the new Obamathematics. Not the old-fashioned mathematics....
JR
# posted by : February 18, 2009 at 1:10 PM
: February 18, 2009 at 1:10 PM
200 billion has been added to the funds designated to prop up that troubled duo of Freddie and Fannie, Blackadder.
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# posted by : February 18, 2009 at 1:57 PM
: February 18, 2009 at 1:57 PM Subscribe to Post Comments [Atom]
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