Wednesday, September 05, 2007

*My only political comment thus far, is that Obama does not understand the sub-prime mortgage crisis one bit... His proposed bailout for those who cannot pay thier mortagages by fining the institutions which gave them their loans in the first place and using the pooled money as relief, this is simply a misguided solution...

*This does not address the fact that:
COSTUMES WOMENS RENAISSANCE from Costume SuperCenter -a very high percentage of sub-prime mortgage holders over stated their incomes,
-it does not address that these people should be held accountable for their own decisions ie; being adults,
-this does not account for changing market conditions which have affected interest rates and values of homes,
-this does not account for the fact that the majority of sub-prime lenders have already gone bankrupt,
-this does not account for the re-packaging and selling of the 'toxic waste' in the bond market,
-and lastly this is a little too late of an attempt to fix a much bigger problem I believe Obama and his advisor's can comprihend...