Here is how modern economics is played. You need to know this so you know how to protect yourself. Picture 4 groups: government, the middle class, the banks, and the speculators. 3 out of 4 groups have acted badly in the housing meltdown. Consider: 1. Speculators bought houses they couldn’t afford to try to make […]
Tag: real estate
A Bailout dialogue between two mice: K & M
Let’s listen in on 2 friends: K and M, discussing the bailout plan K: of all the places we jumped to, we chose 850B as the landing pad though? i think all existing mortgages should have been maintained in an escrow acct by the government then all properties auctioned off at a fire sale. then […]
A Bailout Alternative
Let investment banks go bankrupt, and their assets should be auctioned by the government as if they were people that had died intestate. Proceeds of the estate sale should go intot the general fund to be applied against the national debt The government should act as a caretaker to continue to receive current mortgage payments […]