Monday, September 7, 2009

90% Of All New Home Loans Are Now FUNDED or GUARANTEED By The Taxpayer

You can draw your own conclusions about how you feel about this fact.  Here is the link to the Washington Post article, in case your local newspaper forgot to report this:

Taxpayers Funding Homes For Everyone Now

Let me remind everyone that in addition to buying your new neighbor's house, this means you are also funding the commissions being payed to real estate brokers, fees skimmed mortgage banks and huge salaries and bonuses linked to all of this activity being payed out to Wall Street and homebuilding company CEO's.   

Next time you see the smiling faces of Banana Ben Bernanke, Obama, Geithner, and Larry Summers on t.v., be sure to remember that they are the ones implementing this policy of taxpayers paying for everyone's new homes.


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  2. That's sort of a good thing-bad thing to me. I'm sure if that's a good one or a bad one because if you're the one owning the house then it sure is good news to you. But on the other hand, not so much good there but it definitely helps. I still think it's a good move though, that should help improve our state.